Diary of a New Agent .. I'd Like Your Advice.

[RonRoberts]

Al Bundy-type dreams of owning the shoe store:

Done this. My dad owned a shoe repair store. Cool work if you like working with your hands but definitely not in it for the riches.

Dreams of flying 1st class w/ topless flight attendants
free drinks etc

What airline is this? I'm in.

Has no $$$, needs 3 wishes the END

Sounds like most of our stories at one point in time unless still suckling.

P.S. Wishes to stay "anonymous" so be berry quiet

No place to be anonymous...or is it?

 

[BladeRunner]

BladeRunner

You said "the potential to make unlimited income really excites me." that comes at a cost, and you must choose what you're willing to pay to get there. Well you'd better wake up from that daydream and realize excitement comes at a cost, not that it can't be done but open your eyes. You will still put in 12 hour days but now that BS from co-workers, clients, vendors, insurance companies and on-going bills are YOURS.

Yes, I realize that it comes with a cost. It's much harder to run your own business than be an employee. I've run my own business before, hired my help, etc.

BladeRunner

Don't think you'll LOVE every employee that you must hire and KEEP for your business to function, that's a pipe dream, don't get me wrong I'm happier being a boss but you seem to think you can wave a wand a get all these happy go-lucky people that you like AND at the same time be are best at the JOB you need them to do.

No you misinterpreted what I wrote. I don't believe I can find a cookie-cutter employee and/or someone exactly like myself. That's not what I meant. But there is a big difference in the respect one gets from the agents when you are the boss, versus the respect you get when you're just another agent in the office.

BladeRunner

You are very lucky, if you ever come close....your objective as a business owner is to keep people that can handle the job vs as a worker where you'd like to get along with your co-workers, see the difference in objective? If "they" get along great but more importantly can "they" get it done, owner mindset.

I clearly see the difference, and have experienced it on both sides of the table, as an employee and a boss. Yes it is true that many owners and managers turn a blind-eye to dreadful interpersonal skills if the conspicuously bad or offensive agent is getting the job done and making him and/or the agency money. However in the long run that too comes with a cost, which can be an unhappy environment for owner, (unless the owner is that way and doesn't care or even notice it) or retention of future agents, etc. Healthy, agent competition is one thing but interpersonal bullying is another. The latter I never stood for as a manager and have had success at maintaining high-quality workers that work well together. It's been my experience as a manager that you don't need to sacrifice one quality to get the other. I've also proved it as an employee with my proper work ethics, interpersonal skills combined with being a good producer who gets the job done.

BladeRunner

RBA, actually makes a good point this time That is a very long post for free advice with little contribution to offer.

I appreciate your honesty, advice thus far, and showing your "true colors" so I know who I'm dealing with. Hopefully you'll appreciate mine when I say that I disagree—That comment is very condescending and selfish. I take it you're apprehensive about helping people unless you get something in return right away? I may not have years of insurance experience but I do have 20+ years in big business, management, etc. Also the whole idea of selling is to help people. I help potential clients all the time with insurance questions, evaluate their policies, even though I know I won't write their business today. However they remember me, and down the road I write their business when their agent retires, screws them over, rates increase, etc., and/or I get a referral from them. Selling is about building rapport, or at least a business-friendship. It's been said many times that the mark of a "true" friend is one who not just helps when it is convenient, but when it's inconvenient. So your comment saying someone has "little contribution to offer" isn't to me the mindset of someone who honestly, and sincerely harbors relationship building.

 

[Guest]

Dude, Blade man, if you want to get in this business, you better check you feelings and ego at the door.

You cant handle criticism or rejection and this business has days filled with it.

 

[BladeRunner]

Dude, Blade man, if you want to get in this business, you better check you feelings and ego at the door.

You cant handle criticism or rejection and this business has days filled with it .

LOL! I deal with criticism and rejection and sometimes disrespect in my job on an ongoing basis, and I get up, dust myself off and keep going. In fact, on given months I've outproduced senior agents in my office. So yeah, I can "handle" it. How many newbies do you know produce $35k in a month in their first 6 months on the job without relying on a network of clients from a previous insurance, mortgage, or real estate gig? Majority from basic cold calling? Not many I would bet.

I'd like get this topic back on track. Are there any other veteran agents that can offer some sincere advice?

What made you go independent?
Do you work for an agency or for yourself?
Are you a sole proprietor or do you have people working for you?
What about office space? Do you work from home, office?
What were some of the pros and cons you experienced during your first year in the business?

Thanks

 

[BNTRS]

I'll admit it, I got to here I am at year two and then couldn't take it any more.

I'll offer up one critique based on the tone of the conversation. When you ask for advice from others, don't assume what they give you will be useful.

This about that for a little bit. It will work wonders for you.

Ok, so I went and actually finished the post (I only skimmed a little, when I thought you were being a little too poetic).

Being part of a gig like yours will impart one invaluable piece of experience you don't usually get being independent, and that's having an opportunity to talk to others who have been doing this for a while.

Let's not ignore the randomness of your success (i.e. is it sustainable). In my career agency days, I saw many agents come in a hit it big for a few months to a year and then fail hard.

It's all about the relationships with the clients. And I'm pretty certain you don't yet understand what this means even if you think you do.

Insurance companies don't pay you to sell insurance, they pay you for the opportunity to introduce their products to your "friends." You could take that sarcastically (and if you read some of my other posts you might think that's what I'm trying to be here, but I'm not). Think of this more figuratively. You're number one goal needs to be becoming awesome at being a resource of knowledge about some form of insurance. Don't listen for a minute to that BS you get fed about just make people like you and sell them insurance, it doesn't work and it's a sign of a piss-poor sales manager (if you even have one).

Personally I find myself to be really good at two things:

1. Designing life insurance plans (mostly cash value)

2. Explaining the inner-workings of insurance companies and their contracts

That's it (I don't do P&C at all, and have no interest). Sure I can talk about Disability insurance, and do it better than 95% of the agents out there, but I'll admit there are people who are far better wizards on that topic than I.

I'm also pretty skilled at annuities (and have had some really great years lately in putting money into annuities).

But the topic I like most, and the one I run with the best, is designing life insurance to fit into someone's financial life, and that's where I spend 99% of my time. It sounds simple, but I can assure you there's a broad scope this can take on (e.g. I recently got asked by another agent to work on a large case based on my familiarity with Regimented Split Dollars used in an ILIT).

Until you can focus in on the thing you're going to do well, this business is going to eat you alive. And it'll take you a while to establish your expertise.

 

[GeminiGroup]

Ok, Blade
So, you know my "true colors" now?
You don't have nearly a clue as to whom, you're dealing with, my friend.

I gave free advice, we "aren't dealing with" each other, pal.

You're the one that enlisted conversation about your situation from your "anonymous" bunker in your "anonymous" state.

You were only asked your freaking state and you didn't want to contribute that ....yes this forum is for SHARING, so even after your glib " I can't even share what part of the country I'm in, but help me" attitude, I still took the time to answer your post and offer advice.

My response was to what you wrote, you may need to re-read it, if it doesn't represent how you wanted it to come across. The bottom line is, you brought up dealing with BS as a issue,... my point was ISSUES don't disappear as an owner they multiply, period END OF SUBJECT.

Red Blooded brought up a good point about the length of your post, after I'd answered it.
I thought it was valid, so I agreed...so what...Your panties are brunched over people agreeing your post was long for a newbie (that's the contribution I was referencing, I wasn't asking for a donation, scrub)

You started out on the wrong foot by being too important to just say "I'm in New York or Ohio or who cares" nobody really cared but it's called common courtesy and being polite in a conversation but I see everything's a BIG DEAL to you.

If the good natured ribbing on this forum gets you this worked up, daydreaming in your cubicle might be the safest place for you, for now.

 

[Guest]

I am loving how the newbies are coming on here and argue with the people they are asking for help from

 

[GeminiGroup]

I am loving how the newbies are coming on here and argue with the people they are asking for help from

Damn is that 3 things RBA and I agree on,....What's next sweaters in hell?

 

[Insurance-Guy]

Ok back to the subject... What kind of contract are you on? I have never heard of a base pay for 3 years. What kind of commissions will you get after your base pay is up? Who pays for benefits?

But you also said that the agency could have "given" you a ex agents book for you to service a collect renewals? why on earth would they do that? Those become house accounts. Just like if you leave the policies you produce are house accounts. That's the way it works.

 

[BladeRunner]

Blooded American;480650]I am loving how the newbies are coming on here and argue with the people they are asking for help from[/i]

Bloody dude, It is so obvious you got that nifty little 1000 post VIP club stamp by making your childish, unhelpful, one-liner insults. You're not worthy of that award. According to your stats you've racked up about 174 worthless little posts a month or 5 a day since you joined. 5 times a day? You seriously need to get a life. Are you bored because you don't have someone to pick on in real life?

Why don't you offer some real advice. How about answering some of the questions I asked in my last reply.