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Your All-In-One Guide

Managing your practice just got easier with MDRT’s new book.

By Maggie Leyes

You’ve been taught and trained, and perhaps retrained, on how to be a more effective salesperson, but have you had any formal instruction on how to be a better businessperson? Advising clients on securing their financial future is just one aspect of your profession. You need to be putting quality time and effort into managing and growing your business. All small-business entrepreneurs must watch their bottom line—whether they are selling falafel or disability income insurance! Do you have a comprehensive resource to help you do that?

It is a soup-to-nuts guide on running your small business.

Well if you don’t, you certainly do now. MDRT has published The MDRT “How To” Book: A Practice Management Guide. And it is hard to imagine that a more comprehensive tome exists to help insurance and financial advisors succeed as businesspeople. It is a soup-to-nuts guide on running your small business that covers six areas: your business plan, human resources, office efficiency, facilities and equipment, financial management and business continuity. But these broad categories belie the inclusive offering within each of these areas.

Eight Traits Top Producers Share
  1. They don’t take no personally.
  2. They take full responsibility for results.
  3. They have above-average ambition and a strong desire to succeed.
  4. They have high levels of empathy.
  5. They are intensely goal-oriented.
  6. They are self-disciplined.
  7. They are impeccably honest.
  8. They have the ability to approach strangers, even when it is uncomfortable.

It’s all inside
Each of the six sections not only covers the big-picture concepts, from setting up your business for maximum efficiency and profitability to handling your firm’s accounting, but also offers you practical illustrations, worksheets, guides and form letters. For example, the human resources section has an interview grid, a sample employment application and a sample employee handbook, while the office efficiency chapter has a wealth of form letters, from an insurance check-up letter, to a referral thank-you note, to a disability buy-out letter.

The guide covers a comprehensive array of topics, including:

  • Choosing among the forms of doing business (sole proprietorship, partnership, S corporation, etc.)
  • Putting in place good public relations and promotion
  • Deciding if you should lease or buy space
  • Selecting a phone system with the right features
  • Hiring the right people
  • Identifying top timewasters
  • Implementing the five fastest fixes to increased profits
  • Establishing business continuity

It lives
This guide comes in a 3.5-inch ring binder. MDRT calls it a “living document,” as it will continue to update the sections, making the format ideal. The area covering technology, for example, will need consistent revising. To keep current, you need only worry about adding the new pages and circular filing the old. It also allows you to customize your guide. As you collect checklists, form letters or other data pertinent to effectively running your business, you can add those in as well.

If you are looking for a guide that not only dispenses large-scale MDRT wisdom (the habits of top producers), but also dishes out hard facts (design your agency with 145 square feet per person) your search is over. For more information or to buy the guide, go to MDRT’s Power Center at

For an excerpt from The MDRT “How To” Book, visit and read The Habits of Top Achievers.


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