A feature about women who overcame obstacles, faced challenges head on, who dealt with work and home demands, climbed to a place of influence, and took their own path to success.

Ann Brennan, Executive Capital Resources

Ann is an accomplished broker and consultant with a focus on Executive Benefits, Succession planning and Wealth preservation for shareholders and their families.  She has developed extensive experience in designing custom benefit plans and financial funding models by serving clients primarily in the legal, healthcare, manufacturing and financial services industries for 29 years. Working with partners of law firms as well as shareholders and executives of private companies, she assists management in evaluating programs for their top people. Ann focuses on executive compensation issues including selective retirement, incentive and retention plans, succession planning and wealth transfer strategies. She evaluates corporate life, disability and long term care programs for executives and partners of professional firms.  Highly recommended by top executives, Ann works closely with leading attorneys, tax advisors and wealth managers to develop and implement financial strategies for her clients.   Prior to starting her own firm in the financial services industry, she studied and worked in Paris and Hamburg for several years. Ann is fluent in French and German.  She has also studied Spanish, Japanese and  Mandarin.  Ann is a board member of the International Trade Club of Chicago and membership chair.  She is a co-founder of the  Executive International Forum of Chicago.  She is an active supporter of the Heartland Institute.  She is a member of Women of Vision.  Ann holds a Bachelor of Arts Degree in Modern Languages cum laude from Boston College and a Masters degree in German from Middlebury College. She lives in Lake Bluff, IL.


When you first started your career/business did you feel passion for your work?
I  was intrigued by the opportunities in the life insurance industry and fascinated by financial products, tax issues and the sales process.  I loved the challenges.

When you first started were you able to visualize your final outcome?  
No.  I was overwhelmed when I first started in the industry. I was 27 years old, had a M.A. in German and had just moved to Chicago from Hamburg, Germany.  I had very few business contacts, had never had real sales training and there was so much to learn about the products
and their applications.  

What were you top three obstacles/challenges?
First of all , I couldn't send out the 500 free announcements about my new affiliation because I was new to Chicago and knew very few people, let alone successful entrepreneurs.

Secondly, the insurance agency I joined was one of the most successful and sophisticated in Chicago.  However, among the newly recruited agents, nepotism was rampant.  So most of the agents had relatives giving them leads, or splitting clients with them. I had to start from scratch.

Third, I was the only woman who succeeded  at this agency.

How  did you deal with doubt, fear, and self recrimination?
Due to my competitive spirit, I was determined to succeed .  I learned through discipline and careful planning to tackle the hardest part of the business,  making phone calls to get 10 appointments a week  with business owners or professional people.  It was initially hard to pick up the phone, cold call and figure out where to even find enough qualified prospects to call.  I hated cold calling so much that after a few months, all my prospects were referred to me.  Of course, most of these potential clients were like me, just starting out.

Did you feel that the traditional male dominated workplace affected you at all?
To some extent it did initially because, while my male colleagues were nice and happy to discuss cases with me,  most had more natural “ins” in the business world, through golf, the business clubs, old college buddies  and virtually everyone was a Chicago native.  So they were all much better connected than I was.

Also, most of my prospects were male and would often ask if I was the secretary calling to     schedule appointments for my “boss.”  
  
If so, what did you do about it?  
I started my own referral club, which was a breakfast club called the 7:30 network, comprised of a Gold Coast realtor, a litigation attorney,  a dentist who had just established his own practice, an interior designer and  an IBM computer saleswoman.  We all went on to become quite successful in our fields, but it took awhile as we were all just starting out.

Did you have mentors?
Yes.  After about a year in the business and struggling quite a bit, a new sales  trainer appeared.
He had trained a really successful woman at another agency.  To deal with the nepotism, he told me the other new agents would outsell me initially, especially for 1-2 years, but that I was building true relationships and would have clients for life.  He  was very realistic and told me it would take me 4-5 years to really start making a good income.  He believed in me and that helped me tremendously. I  gained more  confidence and started thinking about long term goals 5 years out.

Do you feel you were traditional in terms of your steps to your Optimal Level?  If yes, if no, please explain.   
No. I took a risk after 18 months in the business and severed ties with the agency because I couldn't stand the control.  I thus gave up a base monthly income, went on straight commission, hired my own secretary and started my own brokerage firm.  I was rather impulsive about this.

After a year or so on my own, I sought the advice from one of the top insurance brokers in the country.  He was a Chicago native,  had a superb clientele including some of the biggest and most successful privately owned companies in the area.  He was also a really nice, smart man.   He became my lifelong mentor. After one year, I became his junior partner.  After that, my career really took off.

As you look back, what is the one thing you wish you knew when you started?
No one trains you as well as the insurance industry in professional sales. However, I wish I had been smarter about defining who really was the ideal prospect and what was the best approach to these prospects.  It took me quite awhile to refine my approach.  As they say, experience is a great teacher.

Any regrets?
At first I was a bit disappointed that I couldn't apply my international background.  However, meeting  many different, successful entrepreneurs, top attorneys and consultants became  so fascinating and  rewarding, that I ultimately didn't miss the international scene.    

Do you believe luck had something to do with your rise to where you are now? Do you feel you paid a price to be as successful as you are now?  
I don't think it was luck, but do believe one has to create opportunities for herself. So you have to     be involved in the business community  and out in the world. In  a highly competitive industry like mine, you can never relax. The products, tax laws and businesses themselves are constantly changing so one has to always look for new , better solutions.  It's always good to know more quality people so prospecting is a daily activity in addition to consulting with clients daily.

It  took a long time to cultivate  the really good prospects and key contacts.  So the price I paid was perseverance,  delayed gratification and many years of  consistent hard work, but  it was certainly worth the effort.

What is the best piece of advice you have for other women on their way to their Optimal Level?
Be very clear about your goals and understand  specifically what motivates you to succeed.  Many people aren't clear about this. Your motivation can change over time as your circumstances change.

Do you have any other tips for career or business women?
Be true to yourself, do everything with integrity and compassion.

If you are working for a person or company that is not furthering your career for any reason,  you  must make a change, the sooner the better.   Analyze the situation and move on.

What do you think is the biggest mistake career/business women make?
Men  focus on building  net worth and cut their losses quickly, both financial and personal.  Women need to think in terms of the bigger picture and pursue their goals accordingly.
            
Do you have any other tips for career or business women?
Constantly upgrade and cultivate your business network.  Be clear about what you offer, what help you can give to others and what help you want from them.   Being successful is a process and the route always has more than  a few curves.   That just makes life interesting. If you are in the right business,  you will  enjoy it  and reap the rewards.