Frank..that sounds like a great idea..Sing it for me never heard it
Sounds like you may have had it easier than I..silver spoon maybe..car on your 16th birthday?? Come on now I posted in the right spot and other than my life story and your best response is "why are you carrying someone elses water...not bad. I guess my by best answer to that is if I carried my own water I guess I can call it my own and tell everyone to do the same..But you do not play well with others..so you must not do anything for others..or would that be a stretch??
You make no sense at all about becoming an independent agent..so you did it all by yourself huh..that's pretty impressive, you have no agents working with you? Started out with $0 dollars set up shop and just plugged away..which direction should I face when I kneel on my rug to worship you??
My guess is if you cannot relate to the work ethic I have..you found yourself in need a few times, "Jesus Wants Me For a Sunbeam" .. was that the melody that filled your hat on the sidewalk when in need?
Briko..to you I say thanks for looking out..Thats exactly the type of response I was looking for..It at least gives me an idea on how to write up my proposal.
Last edited by Championpatriot : 04-16-2009 at 08:16 PM.
Thanks Champ, that was a lot more pleasant to read.
Frank, a lot more pleasant as in only a swift kick to the stomach compared to a swift kick to the groin? I feel asleep and drooled six times before I finished the post!
Must be pushing 60 medicare, hopefully you get off your office chair from time to time get a little exercise I have seen what some people look like trying to spew out opinions when they are stuck to their chair..must be running out of breath while you type too..sorry about the drooling that can't be good for the ladies...
I was not aware of how many NON leaders I would find here..pretty easy to spit on someone from your high standing throne..guess that makes it easier for you to feel superior..Who knows I may have even learned something today. Go on with your bad self.
Frank, a lot more pleasant as in only a swift kick to the stomach compared to a swift kick to the groin? I feel asleep and drooled six times before I finished the post!
I was trying to think of something nice to say., however, I keep forgetting that no good deed goes unpunished. He does tend to "go on". Makes all that kind of hard to "keep down".
Told "you" I don't play well with others. We are here to help, not to hold hands, wipe away tears or sit around a campfire singing Kumbaya.
Thanks Frank...needed that... I somehow feel like growing a mustache..
Insuranceexec..I am all for the bad and the good..believe I take no offense as I expect those I sling back at take none either.. I knew some of you would look at it one way some another..but I did also think I would find a couple people considering we are all in sales might somehow take what I have said..may be older and had similar challenges and just maybe see what I might want to consider INSIDE my current box..not outside that is easy to walk away and start all over..of course throughout the day as I refresh the browser..I find little more...pity me
As to default or design ..The industry ..design..the agency..default.. I am not sure if I mentioned it before buy my wife makes $80K-90K consistantly + 401K (matched) + benefits , but they get walk in business there company (you may know who they are) are set up they ahve their niche and system hammered out.
I could have easily applied to be some employee and I would probably make closer to 100K like some of her friends..But I read a long time ago about the tough challenges but big rewards for getting into business yourself. I was also told is if you do not have the resources to start your own company you partner. Well I now have a tough challeng...and Insuranceexec..YES by design.. I met him..he desperately needed good help..you could say I was a sucker for not demanding more..but was looking at it like I was setting myself up because once I proved my worth I could go after what I want..At that point I had a vision of owning part of the company so I did every little think you could imagine possible for he company and just moved on. Now based on how the only way he is able to get GOOD talent the business model he is choosing is fine for me. I just want to LOCK IN a good contract for my efforts and go after it.
That was my design, I had nothing to offer but my skills at first and the owner had nothing to offer me. Thats cool. I accepted that instead of taking the employee road. The agency was green, barely any book of business, no real producers..lets say 1.5 real producers..one was his friend that stopped coming in. Basically what I telling you here is I did not walk into a thriving agency..there has been a lot of grinding and a LOT of Saturdays!!!
But the first order of business was to build a book and structure what is needed while you go along before you develop the company hieararchy..Only instead what happen was different that I anticipated..He is hiring on agents more like a militia..no sales manager etc. And again I am cool with that I just need to adapt.
I shared my money I made with you guys..obviously I cannot be the "lone" freakin ranger and be the agency. So while I help provide the cover the owner did not have to produce he go's out and starts bringing on agents to bolster the book but the only reason they will come is because they are going to make 75/75 in which is nothing to scoff at.
What I am simply saying and I will say again! IF SOMEONE COMES ALONG THAT TRULY PUTS THERE EFFORTS IN FOR YOUR SUCCESS AND AS THE OWNER YOU KNOW THAT BUT HE HAS NOT HAD ENOUGH BA!!S TO DEAL WITH HIS FRUSTRATIONS ABOUT THE DIRECTION OF THE COMPANY WHEN THEY FINALLY DROPPED AND CAME FORTH WITH A PLAN WHAT PLAN WOULD SOUND GOOD TO YOU? Is that really that hard to figure out?? Not really most of you just are not here for good advice..just advice ..But still there is silver lining it all right boys and girls!!
If we can get back to the original point..and stop playin kickball with my oh so sad plight..maybe give some advice from that may help me draft my plans: SEE THE VERY FIRST POST..I edited all of my post down for the most part to spare you all
Last edited by Championpatriot : 04-16-2009 at 11:28 PM.
Hopefully you know why I asked the question; but judging by your response, I would say that my effort was wasted.
Design an agreement up and have him sign it; if he refuses to sign it, then LEAVE.
As an owner of a Marketing Firm I can tell you that the people that earn their keep are compensated accordingly.
I have every person on salary plus incentives, and I have come up with a pretty decent formula for coming up with these "incentives".
I take their productivity and the actual tasks that were completed to develop a persistency of sorts. I then take a set percentage of profits and put it into a "kitty". What ever their persistency is; that is the amount they get in the form of a bonus.
This makes people more goal oriented, efficient, and gives them an incentive to make US profitable.
My assistant last year made better than 90K alone. Maybe you can implement the same type of program in your office.
Insuranceexec..what can I say we have another winner.. Thank you for that response..exactly what I am looking for.. And I must have missed your question about the design or default, at first read I thought you meant my current challenge..then when you mentioned I disappointed ..I had to pause for thought.
(Insuranceexec..THIS IS AN EDIT just read back through your post..of course the ideal situation would to be able to pay salaries and incentives..I can tell you that is am impossibility at this point..We are still technically in the development)
Without a doubt my life is designed not much is left to chance with me, and of course I need to do better at this, should of done that.. But if I would have the ability to be better at some of these things while moving EVERY one of my siblings in when they hit their toughest challenges I would without a doubt be much more financially set than I am now. But I can tell I am a very HAPPY person . I do not back down from any wall, but this time I have to stop and look at this one and say lets make sure what is on the other side is of my design.
You seem to be getting to my point of getting something in writing..not to steralize your suggestion but is clear to me..However just like in a athletes "agent" uses another players recent contract for baseline negotiations I was unaware on the figures to put together, the 75/75 is easy..and the WHOLE reason I went into the my "biblical" story of my efforts and timing of the agency was to get the point across that I did not just show up and something was handed to me. I showed up made things happen and want to continue to do so the as long as I am working hard and few others we should have no problem putting this agency in the multi million dollar range in the next 10 years.
So what I am saying is the agency did not provide Invest in me, so therefore the profits for the long term, and my production only is fine, seems like a fair deal ..this way in some freak case the owner passes away..or has a gambling problem and has to settle his scores with someone else and sell the agency I will be legally obligated to my said cut, remain with the company who purchases the book as I am tied to my portion, or the ability to take an offer if they wish just to buy out etc...
Does this not seem fair, If I continue to work for an company and was a big part in it getting to that said destination if any of the above were to happen.
As far as I understand it if you work with any company, especially financial companies there is always some sort of profit plan, 401K, matching, bonuses etc. WE HAVE ZERO of these things and I am just trying to establish a baseline for me to as you said "implement" this type of program into the office.
The point is which you are clearly aware see it correctly Insuranceexec to have good talent you need a decent compensation package..there was a time and I believe that still continues why certain people get an engineering degree from this school, MBA from here..that in order to get the best people to represent your dream, your vision is provide them with a compensation package so that when they wake up in the morning and commute to work..they ask themselves..How can we accomplish this? Not dread their day and hope they find something better. Or if I am wrong here, feel free to call me stupid.
So to share the progress so far my agreement is designed as such:
Commission split 75/75
I now need:
Vesting/renewals on retirement:
Safeguards to selling of book; new owner contractually has to offer me a buyout or offer my same position in current pay or better,
Safeguard to death of agency owner:
Am I headed in the right direction?
Last edited by Championpatriot : 04-17-2009 at 12:33 AM.
Ok Champ. Here's the scoop. You started there looking to be a part of something. You knew you wanted that, but didn't think you had the means to do it by yourself. So you go on being secretary, computer tech, water boy, goffer, etc.
You're happy with that because you just know in the end it will all be worth it, because you will be a part of something bigger than you. You get jerked around and have to make adjustments for your salary/commissions...but that's ok, you understand, because once again...one day, you'll be an integral part of something and reap the rewards of your efforts. After all, how can he not see the things you are doing for him. As a matter of fact, he probably feeds you a few kudos now and then and lets you know how lost he would be without your help. Anything sound familiar?
But as you go along, there's always something nagging in your gut, wondering why things aren't changing like you think they should....just a little maybe. Then whamo....he hires other agents, making more than you to start off and reality hits.
The problem with reality hitting though, you don't want to see what the reality really is. You don't want to see that you are being used and that you'll never be that integral part that you have dreamed of, even promised in so many words. How could that be reality? After all, you've invested so much time and been paid so little money comparitively. If you recognized the reality, you would have to also recognize that it all been for naught!
But it hasn't been for naught. Look at what you've learned. Look at what you could do on your own now. Sure, you would still like to be a part of the company, part owner even, but you're not going to be, that's the sad truth.
Look to your gut brother, I've been there and done that. When is it time to pick up, accept your losses and your gains and move on.
I was there...then one day, out of the blue, I got thrown to the wolves...all over nothing that I had done or had any control over.
As low and beaten as I felt, what I didn't see at the time was the future in front of me, all I seen was all the things I had done, trying to be a part of something I now realize was never going to be.
Once I got mad, then I stepped outside of the box, I looked around and found a direction to head. I haven't looked back and so glad I got thrown to the wolves! I became the wolf, the hunter and not the hunted. Where there is a will, there is a way and all things are perfect for their time and space. Accept your future, and move on.
Was this too long guys?
------------------------------------
Todd R. King
800-590-7207
540-400-6275
888-748-3978 Fax
[COLOR=red]Do the right thing because it's simply the right thing to do.[/COLOR]
Last edited by TRK3031962 : 04-17-2009 at 12:28 AM.
I agree with you 100%..But I have to make a couple things clear before I smoke my peyoe and hit the desert. He is a good man..but also submissive..when he is challenged he will concede..I have not yet challenged him on this and very well will not need to walk.. I just need solid thoughts on the future..renewals retirement..how to word the structure for the long term.. If I go for it and I get slammed down.. you will be the first to know.
And although i left the impression of the going as far as the water boy..never went that far but I do appreciate the sentiment.
Man I must have hit a place where everyone works alone??? And if you dont but and own an agency and have agents working with you..they must get treated like sheep..and if this is the case I need to change my way of planning. Insurancexec..has an established business already and his assistant made 90k..so there is not much more those guys and gals can ask for over there..unless they make the company millions.
I myself have been stepped on and abused for long enough. I recognize though that I was not a victim but a volunteer. I choose to work alone, yet I have many for support. I choose not to screw over the agents that I given opportunity to. I give an opportunity, it is up to them what they do with it. I only want to share the opportunity that I have been given and never have an agent feel the way I have felt in the past.
Opportunity knocks constantly, but most don't answer the door. It took me a while to answer the door, but finally, and thankfully, I was forced to open it. It changed my life. Now I know I'm in control of my journey and destinations.
I myself have been stepped on and abused for long enough. I recognize though that I was not a victim but a volunteer. I choose to work alone, yet I have many for support. I choose not to screw over the agents that I given opportunity to. I give an opportunity, it is up to them what they do with it. I only want to share the opportunity that I have been given and never have an agent feel the way I have felt in the past.
Opportunity knocks constantly, but most don't answer the door. It took me a while to answer the door, but finally, and thankfully, I was forced to open it. It changed my life. Now I know I'm in control of my journey and destinations.
Well said. I think there is a song that speaks to that. Something like "I have been lied to, cheated and misunderstood".
You said it much better than I could have. It's probably because "I don't play well with others".
- - - - - - - - - - - - - - - - - -
Originally Posted by thespur1
if a captive agent has 50/50 contract with bonuses up to 3k a month no 401k, no benefits just a nice office and support
Is this a bad deal?
Only you can decide that. For me that would not be a good deal. I would prefer to get 100% of the commission and make my own decision as to what to do with my money.
Life is about defining what each person considers "quality of life". If you feel that you have quality in your life then that is the correct decision for you.
Money does not bring "quality of life".
Last edited by Frank Stastny : 04-17-2009 at 09:58 PM.
Reason: Posts merged
Hey Frank whats your story? If you like go ahead and get "Biblical" ..just curious you seem have it all put together and work on your own so it is fairly obvious question to ask..
When did you start selling insurance, what lines? Did you start out in the beginning on your own?
Again you have a knack for being quite biased.."Life is about defining what each person considers "quality of life". If you feel that you have quality in your life then that is the correct decision for you."
"Money does not bring "quality of life".
Although I do agree money does not bring qualify of life..but it sure is a good down payment
The spur was not asking you whether that was enough money...simply trying to get an idea on whether or not the opportunity would be comparable to possible other options. Although he could have been more specific as I was and explain a little more about the current agency size, how his bonuses are determined etc. But we know how you would answer that "I do not work well with others"
Not sure how self motivated you are Thespur..most of us that are willing to go in commission only are pretty confident..I am sorry you also really did not get a response that might give you some insight..how did you say it Frank?? "We are here to help, not to hold hands, wipe away tears or sit around a campfire singing Kumbaya." - I am still searching for the "Help" part..
The spur..the one thing I do like about what you said was the up to 3K in bonuses..depending on the lines you are selling and the criteria you need to hit that.. after a year of solid production and following it up the next year with some renewals and more bonuses could work out ok..but of course depends on your real possibility you can land clients with the company/companies you will be selling..what line? Have you checked any rates based on the lines you would be selling?
Thespur..what happened to me see I went a little to far into my life story to see if that would help on responses..found out that just gave frank here an EGO boost...then you come and ask a pretty straight and arrow question that could at least start you off with some answers..nah..sorry not on this forum..not yet anyway...Of course I am not going to give up on the forum ..I am not much of a quitter..which is actually what was suggested I do and "strike out on my own"..in which I say that is the dumbest thing for me to do if I first did not take a solid shot at securing a "contract" at being part of an agency that with some solid work will be in the millions in revenue in about 5-10 years..
By the way i was serious about my questions..really curious about any history a master as yourself could share with the group Frank??
Last edited by Championpatriot : 04-18-2009 at 10:11 PM.
Champ,
You have to understand this forum is a good resource but it is totally biased because mostly every member here is independent.
They oppose or dislike the fact if someone is captive.
While i understand independent is more commission and freedom
Not all of us can start out this way. most agents who start out indy end up out of the insurance business in weeks.
That's why most agents do it systematically, captive then indy.
Which is what i'm doing.
First i want to get trained properly and build a nice book.
Then i can go indy no problem.
Since you asked out about my situation i will tell you a bit about it.
I work at an agency with about 6 agents and 1 manager.
They give us free leads a couple times a day. (solid)
Training is outstanding. we sell life, disability, annuities long term care. no health.
We get 50% commission plus a 70% bonus and whatever the regular commission is . 3k month maximum = 36k/year bonus
We have a high rating and are one of the top 5 companies.
The products here are very simple and easy to sell and we get people that call the agency to buy daily.
I honestly love it here, but realize i can get 10% or 20% more if i go indy possibly so it not even sure...
So i think ill stick around a bit longer
One more thing is direct mail.. they pay for some stamps and have a permit so thats also a plus i like.
No non compete clause either and i can leave whenever i please.
I've looked at what independent agents are getting percentage wise for my products, and its not that much of a difference , actually i get more commission than indy in some cases.
I have been working on my outline of my proposal so I have just been checking in..I am certainly on the right frame of mind as of now, I do appreciate your encouragement..I did submit 3 policies within the last 24 hours
Not sure if it is same for you...but I do type fairly quickly and I sort of do not "sell" my clients.. I talk to them..and talk to them..and they they finally ask me what we need to do to have the policy..and I just say..."Oh yeah..thats easy..how did you want to set up your payments"
Last edited by Championpatriot : 04-19-2009 at 12:22 AM.
Re: Am I Making Enough???
I feel asleep and drooled six times before I finished the post!
..I had to pause for thought.
Linear Mode
