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It is the combination of the two that kills. Buying leads and NOT taking advances won't kill you. Taking advances and NOT buying leads won't kill you. But the two together is a TKO knock out punch.
Kevin
Kevin
Ninety-Two Percent of All Agents Fail - Why?
- Thread starter JacquesWerth
- Start date
- 25,037
OK, I do not care what Norvax or you have done. It was not a question of whether I believed you or not. It may have been my comprehension of your answer, to the posters question.
Your:""Originally Posted by robliano
Yes, it's been realistic for many agents for 8 years or so, as long as you do a proper presentation, up front fact finding, educate the client and either allow the client to make an informed decision or close the sale, meaning conclude the sale with the concept of moving forward, lead them by the hand.""
That sounded to me as though it has only been so for 8 years, and with your follow up answer that it was due to you in those eight years. Some of us that have been around that long could differ with that. I do however, agree with the part beginning with: ..as long as...
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I think most of the members (other than newbies) are survivors so the statistics would be skewed.
People tend to give up way too fast. I wanted to share this with you.
The Failures of Abraham Lincoln.
He failed in business in 1831.
He was defeated for Legislature in 1832.
His second failure in business was in 1833.
He suffered a nervous breakdown in 1836.
He was defeated for Speaker in 1838.
He was defeated for Elector in 1840.
He was defeated for Congress in 1843.
Again, he was defeated for Congress in 1848.
He was defeated for Senate in 1855.
He was defeated for Vice President in 1856.
He was defeated for Senate in 1858.
He was elected as President in 1860.
The Failures of Abraham Lincoln.
He failed in business in 1831.
He was defeated for Legislature in 1832.
His second failure in business was in 1833.
He suffered a nervous breakdown in 1836.
He was defeated for Speaker in 1838.
He was defeated for Elector in 1840.
He was defeated for Congress in 1843.
Again, he was defeated for Congress in 1848.
He was defeated for Senate in 1855.
He was defeated for Vice President in 1856.
He was defeated for Senate in 1858.
He was elected as President in 1860.
You left out that he succeeded in Tyranny and Oppression.
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I think agents are to "scared" to do things, such as cold calling or aggressive marketing.
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Why the Small Business Failure Rate Is 90 Percent Smoke and Mirrors | BNET
70% of all small businesses fail on average in first 2 years. We aren't far from that.
A answer to why the failure rate is high is pretty simple. 90% or so of agents really want a salary job where they can work from 8-5 and make 100,000 per year, but find out it's a commission only position where they have to work from 8-7 and make 30,000 their first year. 10% of agents make 90% of the sales, and you're competing with that 10% to start with.
The question becomes, are you willing to outwork the 10%-er that is already dominating your market when you first start to make 1/3 the money you thought you would make (in fantasyland) your first year, so you can capture the market. If the answer is no, you'll fail in the first year.
70% of all small businesses fail on average in first 2 years. We aren't far from that.
A answer to why the failure rate is high is pretty simple. 90% or so of agents really want a salary job where they can work from 8-5 and make 100,000 per year, but find out it's a commission only position where they have to work from 8-7 and make 30,000 their first year. 10% of agents make 90% of the sales, and you're competing with that 10% to start with.
The question becomes, are you willing to outwork the 10%-er that is already dominating your market when you first start to make 1/3 the money you thought you would make (in fantasyland) your first year, so you can capture the market. If the answer is no, you'll fail in the first year.
- Thread starter
- #250
JacquesWerth
Expert
You might also consider whether or not most of the agents who fail ever learned an effective prospecting and selling process.
I believe that most successful agents are self-taught. If they work long, hard hours, it is likely that their prospecting and selling processes are quite inefficient.
Some high earners do not work long hard hours. That is indicative of highly effective prospecting and selling processes. Agents that earn more than the average physician usually spend a lot more to learn an effective sales process than 98% of all other agents.
I believe that most successful agents are self-taught. If they work long, hard hours, it is likely that their prospecting and selling processes are quite inefficient.
Some high earners do not work long hard hours. That is indicative of highly effective prospecting and selling processes. Agents that earn more than the average physician usually spend a lot more to learn an effective sales process than 98% of all other agents.
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