Earlier this year, I shared a post stating a number. That number was $506,222,303.
Not everyone understood what that number represented – some people asked me if it was my income. (I wish!) It is also not a total commissions-earned number.
$506,222,303 is the total amount of insurance cover that my team and I are responsible for. What does that mean? We manage life and medical insurance policies worth a total value of US$ 506,222,303. Most of these policies, we have sold to our clients and now manage. Some we only manage because they are policies our clients purchased before they started working with us.
In other words, we are responsible for getting US$ 500 million plus paid out to our clients by their insurance companies in the event of death or illness. To put this into perspective, the GDP of Dominica, a small country in the Caribbean is about 550 million US dollars.
So yes, it’s a massive responsibility that we take very seriously.
‘Total Amount of Insurance Cover’ is not a common metric or measure of performance in the Insurance Industry. Most companies and Insurance advisors or agents would measure commissions earned. Some measure the number of lives they have helped to secure, protect, and insure.
For me, however, this metric represented the impact of what I do. My mission is to show up with a cheque when my clients need it most. When critical illness or death strikes, I’m at their doorstep with a Life Insurance payout cheque so that they don’t have to stress and worry about that one thing when they are grieving or dealing with the news that they are terminally ill.
$506 million is the numeric value of my mission and the progress I am making. It is the depth of the impact that I am responsible for. My goal is for that number to go up to a billion dollars and when it does, it’ll probably be two billion.
That one metric, ‘Total Amount of Insurance Cover’ more than income or commission earned, more than lives insured, represents the work we are doing, the growth and depth of our service to our clients.
I’m sharing this with you because I want to challenge you to step into a whole other level of performance, in whatever you do.
Here’s a challenge
Pick an outlier metric of performance in your industry. If everyone’s tracking revenue, or units sold, or market share, pick something completely different. A number for which you’ve got no other competition but yourself. The goal is for you to 2x, 5x, maybe even 10x that number next year at this time. It doesn’t matter where you land – just aim big and go for it.
Want to hold yourself accountable?
Share your metrics on social media or send me an email with your metric on firstname.lastname@example.org. And then 365 days later (mark the date on your calendar), share a progress post or email with your progress.
Exactly 365 days from the day I shared my Total Insurance Cover We Are Responsible For number, I’ll share an update with you, too. On March 10th, 2023, that number was $506,222,303.
I’ll share an update with you here on March 10th, 2024.
So – challenge accepted? What is your secret success metric going to be? Once you’ve got it, post your secret success metric, tag me @askricson on Instagram or Rickson Dsouza on LinkedIn, and include the hashtag #SecretSuccessMetric