Absolute Minimum $$$ to Start?

[Todd King]

I actually think that is deadly/ terrible advice for various reasons but mostly because $500 will generate about 20 leads... new leads will not be coming in after the 20 leads are worked which is deadly. Also, the agent will usually have to wait until the 1st or 3rd to make sure the premium has drafted to be paid. So what do they do if they wrote the business on the 10th of the month? You also have to consider your first 20 leads you are gonna struggle but most likely will improve on your 3rd 4th 5th batch of 20 leads. Even If you make 3-4 sales on your first batch of 20 then you have to go through the deadly process of waiting 4-8 weeks for new DM leads to come in. The key to success is new leads coming in consistently!! It's sick that you would say something like this to a new agent and if you can't manage a measley $3,000 investment to start this is not the right job for you anyway!!! It just means you are not serious and have had no success in life. 3k. I mean come on. 50 some years old and can't even write a 3k check. That's pathetic... after the 6 weeks have past and you do well then you need to drop 5-10,000 on consistent dm lead orders to make sure you always have a fresh lead to work. 500? Wow. you are so wrong. It's comical

If you go back and re-read his post he wasn't giving advice that an agent should/could start out with $500 and go indy. He actually gave the opposite advice.

All he was saying about the $500 is that some agents have started with that much and made it work. I've seen it myself. It's certainly not the best starting position to be in, but it can work.

I started out with free leads many years ago. They were TM leads. I still had to figure out how I was going to put gas in my car each day for a while. I didn't eat the whole day simply because I was broke! My point is this...much of this depends on the person that is starting out, their past experiences, their determination, their willingness to learn, and the willingness to do. Money or no money, one or more of these things can push an agent to a regular JOB in a heartbeat.

 

[Bcrane0305]

If, if, if. **** you and your "ifs". Ask the over 90% (90%!) of agents who wash out with nothing but credit card debt if they would have been better off following my advice or yours. I stand by everything I said as it is exactly what I would tell my own son. So I guess you would put down 3k on a hand of poker having never played it before.

p.s.- People who have thousands of cash on hand to roll on a crapshoot aren't generally the types looking to sell FE.

Wow you are so wrong it's infuriating. People fail in this business because they listen to terrible reccomdenations like yours. The goal is to always have fresh leads coming in hence the idea of not being undercapitalized... working 20 leads and then waiting on commissions to buy new ones and then waiting more time to buy more leads then a cancellation/nsf knocks them out completely.... a McDonald's franchise costs what 2.5 million! Starting a final expense career takes an absolute min of 3,000 and ideally 5. Get over your guys self It's about fresh consistent leads, no down time waiting and improving on every fresh batch until you can become like petey bear. Man alive, that guy was a legend. This job is for hard workers with thick skin and ideally sales experience who have saved up money. This isn't for a 50 year old loser who can't write a damn 3k check. I mean seriously! 50 years old and broke? Wow that's pathetic. You should be making 3k in dividends a month at that age. Wow. That's embarrassing. Check at Lincoln maybe they will take the risk of financing this lady some leads and maybe she is hungry and broke at 55 Idk . All I can say is I wouldn't put my money on her to succeed. Sorry not sorry!!!!!

 

[PA Bill]

Wow you are so wrong it's infuriating. People fail in this business because they listen to terrible reccomdenations like yours. The goal is to always have fresh leads coming in hence the idea of not being undercapitalized... working 20 leads and then waiting on commissions to buy new ones an drew then waiting more time to buy more leads then a cancellation/nsf knocks them out completely.... a McDonald's franchise costs what 2.5 million! Starting a final expense career takes an absolute min of 3,000 and ideally 5. Get over your guys self It's about fresh consistent leads, no down time waiting and improving on every fresh batch until you can become like petey bear. Man alive, that guy was a legend

Are you saying no one has ever started with less than 3k and succeeded? And no, the agents who leave the business (over 90%!) worse than broke listened to people like you, not me. But you keep arguing in "ifs" and speculation. I'll stick to facts (over 90%!) and reality.

 

[Todd King]

Wow you are so wrong it's infuriating. People fail in this business because they listen to terrible reccomdenations like yours. The goal is to always have fresh leads coming in hence the idea of not being undercapitalized... working 20 leads and then waiting on commissions to buy new ones and then waiting more time to buy more leads then a cancellation/nsf knocks them out completely.... a McDonald's franchise costs what 2.5 million! Starting a final expense career takes an absolute min of 3,000 and ideally 5. Get over your guys self It's about fresh consistent leads, no down time waiting and improving on every fresh batch until you can become like petey bear. Man alive, that guy was a legend. This job is for hard workers with thick skin and ideally sales experience who have saved up money. This isn't for a 50 year old loser he can't write a damn 3k check. I mean seriously! 50 years old and broke? Wow that's pathetic. You should be making 3k in dividends a month at that age. Wow. That's embarrassing

Yep, that is the goal and you are correct that many agents fail because they are underfunded to begin with, but that's not the whole "failure" formula.

You can believe what you want, but there are some agents who have started with very little and grown into big producers. Is that the norm? NO it's not. But just look at the overall failure rate of insurance agents. I've seen many where buying leads is not a problem and they still can't make it work. Many of them! The norm in this business is failure period! Many different factors come into play concerning failure and no one thing, other than pure laziness, is the factor.

 

[Bcrane0305]

Yep, that is the goal and you are correct that many agents fail because they are underfunded to begin with, but that's not the whole "failure" formula.

You can believe what you want, but there are some agents who have started with very little and grown into big producers. Is that the norm? NO it's not. But just look at the overall failure rate of insurance agents. I've seen many where buying leads is not a problem and they still can't make it work. Many of them! The norm in this business is failure period! Many different factors come into play concerning failure and no one thing, other than pure laziness, is the factor.

Yea but what increases your chances of success. That would be being on a 115-120 contract, only writing full commission carriers. 5k to drop and having a solid 2 months to see if it works. You wont be wasting your time waiting for fresh leads or praying your commisikns go through. You'll be able to work the numbers!!!!! Working the numbers and improving on every batch is how you succeed. One thing goner said that is true is it's not like a failure is gonna win in final expense. Not having $3000 at 55 years old but wanting to make final expense work? Get a damn list and go door knocking! See how hungry you are BETTER yet get a canvassing job and see if you can UPGRADE to final expense.

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Yea but what increases your chances of success. That would be being on a 115-120 contract, only writing full commission carriers. 5k to drop and having a solid 2 months to see if it works. You wont be wasting your time waiting for fresh leads or praying your commisikns go through. You'll be able to work the numbers!!!!! Working the numbers and improving on every batch is how you succeed. One thing goner said that is true is it's not like a failure is gonna win in final expense. Not having $3000 at 55 years old but wanting to make final expense work? Get a damn list and go door knocking! See how hungry you are BETTER yet get a canvassing job and see if you can UPGRADE to final expense.

Case closed dropped as boman would say

 

[NSRH]

Yep, that is the goal and you are correct that many agents fail because they are underfunded to begin with, but that's not the whole "failure" formula.

You can believe what you want, but there are some agents who have started with very little and grown into big producers. Is that the norm? NO it's not. But just look at the overall failure rate of insurance agents. I've seen many where buying leads is not a problem and they still can't make it work. Many of them! The norm in this business is failure period! Many different factors come into play concerning failure and no one thing, other than pure laziness, is the factor.

Bingo!

Although having capital to get started will increase your chances of succeeding, I firmly believe most will fail out due to a lackluster attitude and poor discipline.

I've seen it a thousand times over the years.

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Yea but what increases your chances of success. That would be being on a 115-120 contract, only writing full commission carriers. 5k to drop and having a solid 2 months to see if it works. You wont be wasting your time waiting for fresh leads or praying your commisikns go through. You'll be able to work the numbers!!!!! Working the numbers and improving on every batch is how you succeed. One thing goner said that is true is it's not like a failure is gonna win in final expense. Not having $3000 at 55 years old but wanting to make final expense work? Get a damn list and go door knocking! See how hungry you are BETTER yet get a canvassing job and see if you can UPGRADE to final expense.

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Case closed dropped as boman would say

You're right. The ones who make it will do whatever it takes. Period.

Thats why you can find people successful in a captive shop, career shop, or totally independent. The ones who are going to make it are just going to make it.

To your point about the 55 year old without 3k: Although your words are a bit harsh, I tend to agree with you. Being broke (for the most part) is a decision, or a series of them.

Its rare to work your tail off, day and night, even at minimum wage, and not be able to save up some money to better your life. The ones that dont get that, never will.

The insurance industry has been extremely lucrative for thousands upon thousands of people, but every single one of those people did whatever it required to make it work.

 

[goillini52]

It's about fresh consistent leads, no down time waiting and improving on every fresh batch until you can become like petey bear. Man alive, that guy was a legend.

What do you mean , was a legend. Petey's still around. He didn't die...just gone through a few name changes.

 

[Agentguy5]

I’m in Central Florida, if that makes any difference.
Thanks in advance.

Nope, it's all good...

 

[Bcrane0305]

What do you mean , was a legend. Petey's still around. He didn't die...just gone through a few name changes.

I heard he'd go on 20 sits and sell everyone. Stuff like that. Some myths I'm assuming.

 

[goillini52]

I heard he'd go on 20 sits and sell everyone. Stuff like that. Some myths I'm assuming.

He still does. And don't forget the break dancing for his clients.