Insurance Agent Forum

[healthagent]

After another three emails today I might as well just post a general message about making money in general regardless of the product. On an average day I'm getting about 5 emails that are all identical:

"HELP. I'M NOT MAKING MONEY!"

Ok, let's break it down.

You have two choices:

1) Purchase leads. Pick internet, telemarketed, etc...but you will need at bare minimum 30 leads per week.

2) Generate your own through any means you want - cold calling, B to B, circle of influence but again, you need those 30 leads a week.

If you are not generating at least 30 leads a week you have less than a 1% chance of succeeding. The best closing percentages are 1 to 10 so 30 leads is three deals. Be it life, health or other products you need at least 3 deals a week to make decent money.

If you cannot afford to buy 30 leads a week through any source you want, and if you are unwilling or unable to generate 30 leads a week on your own it's just a ticking clock until you're broke and eventually looking for another job.

To be honest, if you do not have any means of getting 30 leads a week in the immediate future you really should just grab the Sunday paper. It will probably save you from financial ruin. I do not like getting emails from people talking about evictions and car repos - those are very sad emails to read.

But unless you find a way to get 30 leads per week you're just in denial.

Best advice anyone can get?

THE DEFINITION OF INSANITY IS REPEATING THE SAME ACTIONS AND EXPECTING DIFFERENT RESULTS

What did you make last week? Are you repeating those same actions this week?

Other advice:

STOP STALLING!

Do you have some funds? Good - start getting 6 leads a day starting tomorrow. Are you flat broke? Not an issue. So was I. Start cold calling tomorrow.

[natem2112]

Good post.

Sometimes you just need to get up and $*&%# do something about it.

I know that the saying "It takes money to make money" has been tossed around with reckless abandon, but there is a gem of truth in it.

If you don't have the money, then start calling on the telephone, calling person on small businesses ect.

If you are having your car repoed, then get a job...reevaluate and take stock of what you really want out of life, if it is owning your own business, and if it is the insurance industry, find a mentor, or figure out why you didn't make it work the first time, then try again.

Read this book if you really are at a loss at trying to be a success in insurance.

This guy made money selling life insurance, health is so easier then selling life, people are already paying for it!

While you're at it, read this book too.

You decide what you do with your life.

[midwestbroker]

In the sales profession, you will get paid what you are worth.

Look at your actions, what you did last week. If you were looking at yourself as a potential partner, would you do business with yourself?

Best advise I have gotten in the past:

1. Read. Turn off the TV. What is American Idol going to do for you?

2. Ask yourself the right questions. Replace "I have not sold anything" to "How can I sell something". That will give you potential results, not excuses.

3. Mentor. Partner up. That will keep you on your toes.

4. Goals. Make them. Stick to them.

5. You can get a lot more done if you start now.

What are you doing still reading this? Shouldn't you be selling?

[healthagent]

....and start it tomorrow. You don't have money? That's fine, honestly. Cold-call or go B to B tomorrow morning. Some people simply don't have the drive to generate their own leads. That does not mean you're a bad person or a failure. What it does mean if you need a real job until you gather up some funds, then come back into this biz with guns blazing.

You have money? Get leads. The one source you have is only getting you 2 a day? Get another source - then another until you have what you need.

For people who are actually getting a lot of leads and can't close. I'm sorry to say this...but it's you. It's like the bad break-up line "I'm sorry honey, it's not you, it's me."

Yes, it's you. If you got 60 leads and zero deals stop blaming it on the leads. This gets more complicated since you might not be selling the right product. Maybe you're in the senior market and should be in health. Maybe you're in health and should be in the senior market. Maybe you should be selling cars or home-improvements.

I've consulted with people who have crushed the sales industry for the last 15 years, get into insurance and can't close a barn door with a tractor. The field might not be for you.

I'm not saying buy 50 leads and quit. I'm saying to stay honest with yourself. Are you passionate about this? Do you really enjoy this line of work? Are you really behind the products you sell and do you really believe you're helping people?

If you walke up in the morning and are not passionately looking forward to the day then you're in stall mode and that'll probably never change.

[CHUMPS FROM OXFORD]

An odd tip:

It can be brutal on the phone sometimes. When you hit that patch of ice...think about the material things that your income will buy. It will spur you on.

[healthagent]

Don't make calls when you're pissed off or down. Re-group. Grab a beer....or two:-)

When I get hammered on the phone I take a break and play with my son for a while. Right now the training wheels are off the bike and I'm teaching him to ride.

Then it's back to work. I have to be in a positive mood to successfully make calls. If not, clients can sense the tone in my voice. I'm very high-energy and cannot just make calls for hours. I dry up.

I hammer the phone and call leads for an hour. Then I'm on break. Then back at it again. Then a break.

[Alsky]

Man, this is great advice all... and John, thanks for starting this thread. I am a successful life producer with the intention to expand my business into the individual health insurance market. I must say, so far this health business has really humbled me.

I realize the main mistake I was making was not getting enough leads to set myself up for success. I was also emailing/faxing quotes to the prospects... another big mistake from what I have been reading here lately.

I am able to get all the information I need on my first qualifying phone call and then, what next? Can I get input from the individual health pros on this subject? What do you do and what do you send to the prospect? What is your follow up procedure if you do not contact the lead on the 1st try?

I know I have to find my niche and what works for me, but I am a firm believer that if you mimic a winning strategy, for the most part you will win too or find what adaptations you must make to make a system work.

Thank you in advance for all who can give me input on this subject. I always appreciate the information you are willing to share with agents like myself trying to make a go of the health business.

Al

[healthagent]

On my very first call I use a very light touch - just introduce myself and explain what I do. Let them know I need health history to give them accurate rates. Then finish the call by saying it will take a day to put together a quote package and recommend plans.

I end the call with "So give me a good time to call you back tomorrow when you'll have around 15 minutes. I'll be able to show you plans and rates online so you'll need computer access."

Then I call back at the appointed time, log them into my webinar and give them a presentation. They are very impressed with the webinar presentation and it's a new tool I just started using. Fantastic results.

However, to get specific, on the 1st call I need to know:

1) What plan they have now and the rate. If they don't have a plan now I need to know how long they've been w/o coverage.

2) Medical history

I let people know right then and there if I can help them. If I call 10 leads between lack of interest and people who are better off staying put that kills 8 leads. I work with the two interested ones who qualify and close the 1 who doesn't stand me up on the call the next day.

[Golddoor]

Originally Posted by john_petrowski

Don't make calls when you're pissed off or down. Re-group. Grab a beer....or two:-)

I guess I shouldn't make calls period then? Because I'm always pissed off. Especially in this business!!

[natem2112]

Originally Posted by Golddoor

I guess I shouldn't make calls period then? Because I'm always pissed off. Especially in this business!!

No, you should drink a couple of beers....then call.

Repeat for best results.

[healthagent]

Two beer is the minimum.

[SME]

That explains the beer in the office fridge!

[NHB_MMA]

Originally Posted by john_petrowski

I've consulted with people who have crushed the sales industry for the last 15 years, get into insurance and can't close a barn door with a tractor. The field might not be for you.

That's very true. My office sales trainer flat-out tells us we have the hardest job in the world.

Just because you can't sell insurance doesn't mean sales isn't for you. I mean, my insurance results have been mediocre, but I used to do well in door-to-door sales via DS-Max until I couldn't stand it anymore.

[NHB_MMA]

Originally Posted by natem2112

No, you should drink a couple of beers....then call.

Repeat for best results.

You'll have fun, even if you don't make a dime.

[healthagent]

If I have a sales secret, it's Sam Adams.

[NHB_MMA]

Originally Posted by john_petrowski

If I have a sales secret, it's Sam Adams.