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Mark Twain once said, “History does not repeat itself, but it often rhymes.” Although every market shift has looked a little different, there are patterns in every shift. These patterns produce truths regarding agent and consumer behaviors. They set the stage for the agents who will gain market share during these normal cyclical times of change.
An understanding of these truths can help you thrive while others struggle to survive.
1. People want to deny a change is happening
To believe that things will stay the same would be naïve. Change happens continuously. The problem is that most people want to deny change is happening because change in the market demands that agents change. Denying change never works in their favor.
No one ever found consistent growth through drifting and going with the flow. True success comes through adapting to change, putting together a purposeful plan of action, and executing that plan.
What’s your plan? What’s your new strategy for this new market environment? Now is the time to evaluate your business with a fresh set of eyes. Take inventory of your marketing, prospecting, and the efficiency, or lack thereof, of your daily schedule. Refine these to reflect the needs of your clients now and to increase your value to the marketplace.
The act of adjusting earlier than others provides you the ability to serve your clients better and to increase market share.
2. Ego is going to kill a lot of businesses
Ego is one of the biggest leading indicators for agent