We are reaching a point in the insurance agency whereby there are going to be many business owners that are handing over the reins to their successors. A lot of agents are now looking toward the future, as they will be retiring within the next five to ten years. It does not matter whether you are passing your business on to a co-worker or family member, or if you are selling it, you need to seriously consider who is going to be your successor and what this means for your employees and your clients. It is important that there is a seamless transition so that your clients do not suffer.

How to Mentor Successfully

The only way to achieve this is by mentoring your successor successfully. You have spent years taking care of your clients, and so your successor needs to be someone that has the same drive and mind as you. By passing on your agency to someone that you have taught yourself, you can have the peace of mind that they are going to do right by your business and your clients. By mentoring the new agents that are coming onto the insurance scene, you can provide a more trusting and improve future for your clients.

Nonetheless, it can be difficult to know where to start. First of all, the sooner you get started, the better. There is no time to waste. You will need to show new agents the ropes while also helping them to cultivate their own business and giving them insider tips that have served you well over the years.

Create a Timeline

The best place to start when it comes to mentoring is the creation of a timeline. This timeline will be for your mentee, indicating their day-to-day schedule while showing them where they should be taking on greater responsibility. You should indicate different stages in the timeline where you feel they should have mastered certain skills. Of course, a bit of flexibility isn’t a problem.

Work With Them

Once you have put together a timeline and you feel they are ready to work accounts, bring them with you and show them exactly how you do it. Have them take calls and attend meetings so they can get a real feel for what is involved. This is also an opportunity for you to observe them. If you are happy with the progress they have made, you can then introduce them to your clients. This is not only for the benefit of your successor; it will also help your clients feel more comfortable once you retire.

Take Notes and Give Notes

Finally, make sure you take notes throughout. Your mentee won’t know your clients very well, and so it is important to pass on as much knowledge as possible. Also, make sure you dedicate a lot of time to your mentee. Every week it is a good idea to set aside some time so that your mentee can ask any questions and you can go over different matters that are important to the agency.

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