Texas is the deregulated energy state. Maybe not officially, but we all know Texas has more deregulated energy options and opportunities than anywhere else in the U.S.
The abundance of energy opportunities is a blessing for most energy brokers, but it can be a curse too. You see it all the time: up-and-coming energy brokers build a relationship with a smalltime electricity supplier. The broker feels invincible – they go out and push their newfound rates aggressively. Time passes, but few deals close. It turns out the supplier offered uncompetitive prices. The feeling of invincibility was an illusion.
There are a variety of pitfalls Texas energy brokers can fall into – more opportunity also means more competition. If you’re not on the cutting edge, you’re getting edged out by others.
It’s more important than ever to streamline your practices, modernize your strategies and build business relationships that will guide you to long-term success.
Simplify Your Sales Process
Way too many energy brokers rely on outdated sales processes. They still manually obtain matrix pricing. They still write out each and every contract. They still fax and copy numerous documents.
It’s the 21st Century—there’s no excuse for wasting your time on easily automated processes.
Take contract creation, for example. How much time does it take you to manually create a contract suited to your specific prospect? Even if you have a template, you must enter in the client’s information and the details of the deal. Next thing you know and hour has passed. Maybe two. But software can do all that for you in a fraction of the time – minutes instead of hours.
Time-wasters like contract creation eat up too much of your day. In the time it takes you to manually create a contract, a competitor could be closing your next deal.
So what should you do? Get technology to streamline your operations. Contract creation software is a start. You’ll also want some pricing service so you’re not wasting time obtaining up-to-date rates. You should also embrace technologies like DocuSign that let you close your deals instantly. Stop wasting time on fax machines and copies.
Your Supplier Choice Matters
The suppliers you sell carry more weight than ever before.
Also, the big national suppliers regularly have the best rates in town. That means you’re never stuck selling uncompetitive rates.
In Texas, this is a big deal. Most brokers can build a relationship with one of the local suppliers, but only a few can partner with the truly competitive big-time suppliers. For anyone who has a relationship with big names like Direct Energy, Engie or Constellation—you’re instantly more competitive than a huge chunk of competing energy brokers.
How to Build Your Business Fast
You’re probably saying: “If I could build a relationship with big suppliers, I would!”.
Understandable. Developing relationships with the national suppliers is more challenging than ever. They’re saturated with energy brokers, so they’re more hesitant than ever to accept new ones.
And that’s where we come in. We’re a broker-supplier network that gives energy brokers access to all the nation’s top energy suppliers. That includes Direct Energy, Engie, Constellation, Hudson – you name it. We can do this because we’ve developed stellar relationships with 80+ suppliers, and we have the resources to support our brokers so everyone wins.
Not only that, we give you the tools you need to reduce your paperwork and streamline your sales. Our account managers will help you obtain pricing and close deals lightening fast. Our cloud-based Energy Engine will help you create contracts instantly, all fully integrated with eSignature platforms so you can close your deals instantly.