John Scully, of PepsiCo and Apple fame, said, “The future belongs to those who see possibilities before they become obvious.” Our industry is in a place where those who can see possibilities are poised to absolutely own the future.
I'm not going to tell you what those possibilities are, because I honestly don't know. I have some ideas, but those are mine. I'm setting my business up to act on the things I see, but I won't know if I'm right until, well … the future. There are things happening today that are creating opportunities for those who aren't afraid to act.
Think about Section 125 plans. Someone figured out that this tax benefit had created an opportunity to sell more voluntary products. The plan tax savings “created” money that employees could use to buy more coverage. As a result, we sold a ton of voluntary products. After all, it's easy to sell an accident policy when you've just handed them the premium in the form of tax savings.
Don't email me, please. I understand the nuances. We didn't peddle “free” insurance. I'm simply making the point that someone saw something that others didn't, and we were very successful as a result.
PPACA is creating similar opportunities, isn't it? Someone reading this is on the verge of a breakthrough, but they're nervous. They're thinking “If it was that good, someone would be doing it.”
Probably not; and here's why. The average insurance broker is, what, a white guy in his fifties? Here's what I know about 50-year-old white guys: They don't change. Heck, I'm a white guy in my 40s and I only change because I write columns about it and someone would call me on it if I wasn't. Leading in our industry is easy; just be the person willing to do things a little differently.
Furthermore, most of us are so caught up in our little corner of the world that we simply aren't looking for new opportunities. We're just trying to get through open enrollment, and not get yelled at about the rate increase. Who has time to see the next big thing?
Step back and see if you can find your generation's Section 125. You know it's out there because it's been in your head for a while. You've said, “You know what I wish we could do?” If you're wishing it, someone else probably is, too.
You have to do something with it. Thomas Edison said, “Vision without execution is hallucination.” If you aren't going to act on it, you might as well stop thinking about it. It's worthless to you.
At this holiday time of year, give your business the gift that keeps on giving: A fresh perspective that allows you to experiment with new ideas in the hope that you will see something before others do, and create a thriving business for your future.
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