key time management and strategic planning factors for ......why walking your talk is so critical...
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Key Time Management and Strategic Planning Factors for
Management Teams and Agency Principals
Sponsored By:
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Key Time Management
and Strategic Planning
Factors for
Management Teams and
Agency Principals
Copyright 2017 Innovative Management
Solutions, LLC
Christine M. Sullivan, CIC
Innovative Management Solutions, LLC
(978) 808-0797
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Christine M. Sullivan, CIC
➢ Certified Insurance Counselor
➢ Full licensed Broker in all lines of insurance
➢ 27 years experience in Insurance Agency Operations Management
➢ 32 years experience in the insurance industry
➢ Operational Manager of three different insurance agencies
➢ Other areas of expertise: Training programs for New producers, new managers and account managers, leadership development, time management, process and procedure development, E&O management, Personal and Commercial Lines department restructures, Agency management software migrations, Five Star designation certification experience, development of Client Relationship/Internal Sales and Claim Management programs.
➢ I have been you….
Copyright 2017 Innovative Management
Solutions, LLC
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Key Priority Initiatives
Copyright 2017 Innovative Management
Solutions, LLC
• Better Balance in Life
and in Business
• Importance of Strategizing and
Strategically Planning Your Agency’s
Renewal Plan
• Finding Time for Team and Their
Big Picture Items
• Mastering the Art of Winning
Today…Every Day
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What is Burnout?
Learn BEFORE It is too late!Two important definitions of burnout are:
"A state of physical, emotional, and mental exhaustion caused by long term involvement in emotionally demanding situations." – Ayala Pines and Elliot Aronson.
"A state of fatigue or frustration brought about by devotion to a cause, way of life, or relationship that failed to produce the expected reward." – Herbert J. Freudenberger.
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Key Symptoms of Burnout ?
Identify these in YOU and YOUR Team Overall attitude is negative and critical
Dreading going into work, and wanting to leave once you're there.
Having low energy, and little interest at work.
Having trouble sleeping.
Being absent from work a lot.
Having feelings of emptiness.
Experiencing physical complaints such as headaches, illness, or backache.
Being irritated easily by team members or clients.
Having thoughts that your work doesn't have meaning or make a difference.
Pulling away emotionally from your colleagues or clients.
Feeling that your work and contribution goes unrecognized.
Blaming others for your mistakes.
Thinking of quitting work, or changing roles.Copyright 2017 Innovative Management
Solutions, LLC
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Key Stress Factors In Service Teams
No blocks of time to catch up
No time with Management to address “my needs” aka one on one meetings
AM I appreciated? How so?
Performance review? Not in years ..
“I want a mentor” to help me …
Not enough time for classes
“THEY “ put me under fire always! Do you?
6Innovative Management Solutions, LLC © 2017
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Why Walking Your Talk is So Critical
Walking your talk demonstrates your dedication and buy-in to the changes and evolution of the agency. It also builds trust and leadership in your company. ◦ If you make a change or decision follow it yourself,
until you decide to change it.
◦ Do what you say you are going to do; don’t make a promise you can’t keep. This diminishes the trust!
◦ Act as if you are PART of the team, not always ahead of it.
◦ Help people achieve the goals that are important to them, as well as the goals that are important to you and the company.
7Innovative Management Solutions, LLC © 2017
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Top 10 Leadership SkillsLeading by Example
Communication
Motivation
Delegation
Positivity
Trust
Creativity
Feedback
Responsibility
Commitment
Flexibility
8Innovative Management Solutions, LLC © 2017
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•
Better Balance in Life
and in Business
Copyright 2017 Innovative Management
Solutions, LLC
• The “Balancing Act”!
• Who is first?
• Who Should be?
• Who knows?
• Who, What, Where, When and
HOW????
• Operations of the Business
• Agency Clients
• Agency Team
• Family
• Friends
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•
Better Balance in Life
and in Business
Copyright 2017 Innovative Management
Solutions, LLC
• What is your role this week?
• Reality is that your role
professionally and personally should
alter/alternate every week
depending upon how many hats you
are currently wearing.
• What are the challenges of the
week?
• Family
• Operations
• Sales
• Management
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Effective Principals of
Time Management➢It’s all about BALANCE…
➢The decisions YOU make and the choices YOU make.
➢YOU determine your own success as a person, professional, parent, leader of your team, etc.
➢Self-reflection at the end of each day, how did you do today?
➢YOU need to be strict with yourself and with allowing others to negatively influence or pull you away from your focus and priorities of your day or week.
➢It’s YOUR life…
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Use it…or Lose it!➢ Time is a NON-RENEWABLE,
NON-RECYLABLE resource.
➢ You choose where you spend your
time & how much time you give to
things.
➢ If you do not have time, it is because
you don’t make it available for what
you need it for.
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Time is not unlimited
If you waste time, you have to make more time by working more effectively and efficiently.
How to free up time:
◦ By delegating to others.
◦ Spending money outsourcing key tasks.
◦ Using technology to automate as much as possible.
◦ Compartmentalize to accomplish more.
◦ Stay focused.
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Key Time Wasters
Key Time Wasters
◦ Switch – Tasking
◦ Working on the wrong things at the wrong times – not knowing the priority
◦ Too many people involved in the same process
◦ Spending time looking for files, mail, etc.
◦ Co-workers/Management trying to figure out YOUR System in your absence.
◦ What else?
◦ Testing our abilities to switch task…Exercise-share this with your team – eye opening!
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Myth of Multi-tasking Many people believe that:◦ “multitasking” actually helps them get more done
since they are doing two or more things at the same time.
◦ I hear people all the time brag about how good they are at multitasking.
◦ Multi-tasking is NOT combining an activity that just involves mindless tasks, like walking while talking on the phone.
◦ I am talking about combining two tasks that both require you to use your brainpower.
Most experts claim that multitasking reduces—not improves—efficiency.
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Myth of Multi-tasking
Studies have shown that:
◦ it takes five minutes to get back on track
after a 30-second interruption.
◦ It’s called Recovery Time, the time it takes
to get back to the mental state you were in
before you were interrupted.
◦ This Recovery Time is usually 10 to 20
times the length of the interruption.
◦ So avoiding these interruptions is key.
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Identifying your Big Rocks
Big Rocks Story
Moral: Your big rocks need to be planned…
◦ Identify and know what your big rocks are each week.
◦ Schedule them into your calendar FIRST.
◦ Otherwise, the other things will consume your day and you will not have any time left for the BIG ROCKS in your life.
◦ You can’t make time, it is not unlimited
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Setting Your Roles and Goals
Each Week • 2 roles each week – one personal and one
professional.
• Your roles change weekly - what is important to you this week.
• Ex: Principal/Client Services/Producer/ Spouse/Mentor/ Parent/Friend
Roles
• Set your goals in life to prepare for a less stressful life
• Creates life balance
• Set at least 2-3 goals each week that are aligned with your roles.
Goals
• How much time in each role is realistic?
• Divide your day into quadrants of time.
• Coordinate these with team members and roles
• Hold yourself accountable by charging yourself by the hour – your time = lots of money!
Time Management Percentages
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Key Components to
Your Weekly Strategic Planning … Choose a planning system that works for you.
Identify your Big Rocks.
Daily Prioritization and the Red Priority folder.
Effective Delegation – Don’t delegate YOUR FIRES!
Compartmentalization and Scheduling of Blocks of Time.
Form habits and make the “To DO List” extinct in your workday.
“Eat a Frog”… every single day! (do one less appealing task first).
"Once you begin to apply [it], you will wonder how you ever managed without it."
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Solutions, LLC
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Organizing Your TO DO List
Organize it by :
◦ Have to do – MUSTS
◦ Should do – be careful because these become must do’s
◦ Nice to do – perhaps list
◦ Delegate – to family/co-worker
◦ Eliminate – stuff to free up time, aka time wasters
◦ Stay on track
◦ WHO is holding YOU accountable?
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The “Not to Do List”
Make the to do list extinct in your life.
◦ Scheduling time enables you to form habits and create a new lifestyle.
Takes repeating something 7-9 times to begin forming a habit.
21-28 times to make the habit a lifestyle.
◦ Organize your to do list.
◦ Take your to do list and schedule the high. priority activities and essential maintenance tasks.
◦ Block prep time for large projects.
◦ The time left is for the reactive, daily items.
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Important Things To Schedule
Production recording and expenses
Large projects and prep time for them
Your strategic planning time
Leadership Study and Continuing Education
To do list items
Staff One on Ones
Employee Evaluations
Reflection time
Family time
Down time
Sharpen the saw…..
running
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Red Priority Folder➢ GREAT tool for Management and your Team
➢ Great visual – avoid ‘out of sight, out of mind’ urgencies.
➢ Allows you to gain piece of mind when you have a sudden need to be out of the office.
➢ Management can jump in and redistribute if needed.
➢ Rules for the RED folder:
➢ Only place high priority items to be completed within the same business day in the folder.
➢ You must commit to that. You can’t leave the office until it has been emptied.
➢ Alternate the work in the folder with your daily work. Allows you to accomplish both priority and daily work throughout the day.
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Your Agency’s Renewal Plan
Copyright 2017 Innovative Management
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• What is it?
• When do you
strategically plan for it?
• Do you have one?
• Should you have one?
• What are the key
components?
• Who needs to know?
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Importance of Strategizing Your
Agency’s Renewal Plan
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• Budget – Completed by 10/31
• Business Plan by 10/31
• Agency Goals
• Service Standards and
Guidelines
• Carrier Commitments
• Current Employee - all completed
by 12/31
• Performance Reviews
• Continuing Education and
Leadership Focus – plan for the
next 6 months
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For More About:
Essential Tips & Tricks for
Account Managers
10:15 -11:15
Avoiding Insurance Industry
Burnout! You’re worth it!
11:30-12:30Copyright 2017 Innovative Management
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