E82: Lessons Learned From Losing $50,000 In 48 Hours

In this solo episode, James shares some important lessons learned from losing two accounts that total more than $50,000 in annual revenue. Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.com Connect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedom Email us at podcast@agencyfreedom.com with ideas, questions, complaints or your favorite grilling recipe. Episode Highlights: James shares the story of how he lost two large accounts for his agency. (2:20) James discusses the backstory of the hotel account they had at Riskwell as well as the issues they had with the account. (4:17) James mentions that one of the issues they faced after writing all of the regulations was that they didn't ask all of the proper questions during discovery. (11:18) James explains that you get what you allow; if you allow bad behavior from an insured, they will continue to act that way since they don't care about you. (15:34) James explains that the second account they lost was a roofing company that they had for three years. (20:46) James discusses how they lost the roofing account and the important lessons they learned from the experience. (23:17) James discusses the importance of staying in contact with your VIP clients and being informed of internal changes. (25:51) James mentions that there is a big difference between a loss and a failure, and as long as you are successfully learning from a loss, it doesn't become a failure. (28:03) James reveals that in 2023, the Agency Freedom podcast will have a podcaster series of episodes, with guests from throughout the industry who have their own podcasts. (28:47) Key Quotes: “My success at Riskwell, and our growth that is way above average, does not mean that we are immune in any way to making ridiculous blunders and lapses in judgment.” - James Jenkins “Having these conversations once a quarter, biannually, wha