“Business, after all, is nothing more than a bunch of human relationships.” – Lee Iacocca
We’ve known for decades and heard throughout our careers the Lee Iacocca maxim, “Business, after all, is nothing more than a bunch of human relationships.” However, I think the craziness of the recent past has caused us to become more dependent on innovation to strengthen our relationships.
Most dealers are looking for a relationship with someone they trust who is watching over their business and profits. The products matter, and the price point matters. However, they must be administered by someone they trust. The adage, “People buy from people they like” is only half right. People listen to those they like; they only buy from those they like and trust! Build the relationship and build the business.
Relationships are more important than rates. As agents, we must provide profits and a rate structure that grows the bottom line. The added piece of the puzzle to great rates and great support is great relationships at every level. We know the cheapest is not always the best. We sell our front-line customers that truth daily. The relationship of the agent to the dealer, management and the team offering the products is enormously important. Customers and dealerships alike have stayed with a product offering that may not be the cheapest. However, the relationship the product builds with the customer coupled with the relationship of those that administer the plan causes them to stay the course. There will always be those who attempt to undercut your price. Can they undercut your relationship? Being present and on-site to support and grow skills and profits is what makes us valuable. Grow this and grow your business!
Relationships will create partnerships. Great relationships will create partnerships that serve everyone. The question remains, “What are you building?” Is the effort to build a profitable outcome, or is it to build a relationship that will stand the test of time?
If I have an urgency to maintain my relationships and grow my business, I will provide nothing short of the best coverage. I will view my connection at every level as a partnership, not a sales opportunity. We are seeing the most refined consumer and dealer that have ever been present in the market. The great news is that, as a result, the best level of products and coverage we have ever offered are available to today’s consumer. We can help customers or sell customers. When we help them, they buy us and the product! That is the right way to build success.
Relationships are something we are entrusted with, not something we are entitled to. The business we build will reflect our perception of our relationships. Someone who feels entitled will focus on self-reliance and performance as the only measurement of success, whereas the entrusted agent will work to create an environment that produces champions for his or her products, processes and outcomes. I love seeing the entrusted agent build trust with the dealer-principal, creating an environment where the team grows and flourishes. Building relationships is building success! When relationships are the priority, it will create an entrusted relationship that will endure the ups and downs of the market. It’s an amazing entrepreneurial exercise and just plain fun to watch. Customers gain the coverages they need to provide a great ownership experience, and dealerships and agencies also win. I am grateful for the relationships I have built over the years with great dealers and great agents. Relationships are real and the real measure of success!
Rick McCormick is national account development manager for Reahard & Associates.
