Challenges and opportunities. It’s the inherent balance that comes with entering new markets. You’ll overcome one and encounter the other.
But what is most important is how you navigate through both.
Tim Leman, Chairman of the Board and CEO of Gibson Insurance, joins Reid and Joe to share the key to entering, navigating, and growing within new markets.
With Gibson Insurance going from a regional to a national firm, Tim talks about the importance of focusing on navigating leadership transitions, building a supportive culture and community, and how to balance performance and avoid burnout.
In this episode, you’ll learn:
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Leadership is one of the most important factors to nail when entering a new market.
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Being aligned with your team is just as important as being aligned with the market needs.
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Entering into a new market takes time. Patience is critical to your long-term success.
Jump into the Conversation:
[04:02] How Gibson Insurance Works
[05:05] Introducing Tim Leman
[06:41] How Do Businesses Consider Hiring New Talent in New Markets?
[08:25] Hiring Up and Coming Talent
[13:56] Lessons from Past Market Entry Failures
[16:43] Encouraging Honesty in Work
[18:06] Creating a New Team Selling Model
[20:42] Assessing New Market Data
[24:54] Ad Break
[26:00] Matching Ideal Customers with Ideal Producers
[29:20] Balancing Replication and Individualization
[31:16] Bridging Belief Gaps in New Hires
[34:15] Tim’s Early-Career Changes
[36:16] The Challenges of Balancing Burnout
[38:43] Leading by Example
[40:41] Calculating the Cost of Perfection
[43:00] How Greg Downs Helped Tim
[44:12] Synthesizing Themes
[45:36] The Value of Patience for Leaders
[48:04] Post-show Debriefing
To claim 10% off of your first month of BetterHelp, use the code 1000STORIES here: https://betterhelp.com/1000stories
Resources:
Follow Tim: https://www.linkedin.com/in/timleman/
Listen to 1,000 Stories with John Gough: https://www.youtube.com/watch?v=DdT9lhy2MpA
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