Most people fail in this business because they are procrastinators. They don't want to get their hands dirty and then they fail miserably. To all of you new agents this is what you should do.
Read about the five ways approach. Learn it inside and out. Then go to at least 100 businesses every week and USE IT! Don't worry about knowing what you are talking about in the beginning. Just learn how to get the appointment. You can always take a seasoned agent with you on the appointment.
Go door knocking in your own neighborhood. This is great Saturday activity. Start around 11:00am and do it straight through until 5:00pm. Go right up to the door and knock on it. When someone answers this is what you do/say:
Hi, my name is Tom and I own ___________ Insurance Agency here in town. Do you currently have a life insurance agent? (wait for them to answer and it doesn't matter if they say yes or no) I would like to apply for the job. (let them say their response) I am taking time to today to meet all of my neighbors, but I want to make an appointment to sit down with you and (if they give you the "I already have life insurance" spiel) give you a free review of your current coverage (if they have no life insurance agent) or show you how you can protect the people you care about with the right type of insurance. This next part is important...get out your notepad and look at it. Then tell them days and times you have available. I am available Tuesday at 6:00pm, Wednesday at 7:00pm or Friday at 5:30pm. Which appointment would you like? Don't let them hem and haw about it and decide for themselves. Then get out your card and write their appointment date and time on it and give it to them. Shake their hand, tell them you will see them soon and LEAVE.
I am telling you. There is no replacement for beating the pavement and getting in front of people. Using this method you will be meeting literally hundreds of new people every week. If you meet 200 people per week and only 1% of them buy something you are writing two apps per week. If you are averaging $500 per app you are now in the $52K per year club. This is if you SUCK and can only get a 1% response. Imagine what 2% could bring? That would make you MDRT in your very first year.
Its not about reinventing the wheel. Its about doing the work. Do the work, make the money, pay yourself what you are worth.
Don't let some craptastic sales manager preach to you about friends and family. ITS B.S.! You show me a guy that builds his book selling friends and family and I will show you a guy who's friends and family don't invite him over anymore and a guy that will be out of business in a year.
Also, don't waste your money on leads. You will starve if they are your primary source of clients. They are a great supplement if you are already successful and have the cash to dole out for them, but other than that they are a waste of time.
Spend the time that you are not prospecting businesses and homes to meet attorneys and accountants. You should ask your friends and family who they use as their attorney and accountants and then drop their name to get your foot in the door. These people are a gold mine of referrals IF they trust you.
But, in the beginning its all about getting in front of people. If you spend at least four days a week prospecting by "cold walking" you will have more people to see than you can shake a stick at.
Do it and prosper!!!
This is coming from a guy that just got a rude awakening in the business. I am now following this advice and I submitted 11 apps last week. This week looks like it will probably be about half of that, but even if you are only doing 5-6 apps a week you are making loot.
5 apps per week for $50 per month life policies = about $600 commission each or $3000 per week in total. Its simple math. BELIEVE IN THIS!
FIND PROSPECTS!
MAKE APPOINTMENTS!
MAKE MONEY!
------------------------------------
I am proud to have voted for Ron Paul.
Tom,
Thank you for reminding me that there is no substitute for hard work as long as it channeled in the right direction. Going back to basics and knocking on doors is what always worked for me in the past. I am in the process of setting up my own business. I just got tired of working for other people and never seeing a dime of my residuals
Alan
Tom...I admire your enthusiasm. But I could never bring myself to go door-to-door and ask my neighbors if they have a life insurance agent. If it works for you, then keep doing it.
Re..."don't waste your time on leads."...as a blanket statement, I disagree. I get about 10-15 free leads per day and I hope to get up to 25 within 12 months. There is nothing wrong with leads.
Most people fail in this business because they are procrastinators. They don't want to get their hands dirty and then they fail miserably. To all of you new agents this is what you should do.
Read about the five ways approach. Learn it inside and out. Then go to at least 100 businesses every week and USE IT! Don't worry about knowing what you are talking about in the beginning. Just learn how to get the appointment. You can always take a seasoned agent with you on the appointment.
Go door knocking in your own neighborhood. This is great Saturday activity. Start around 11:00am and do it straight through until 5:00pm. Go right up to the door and knock on it. When someone answers this is what you do/say:
Hi, my name is Tom and I own ___________ Insurance Agency here in town. Do you currently have a life insurance agent? (wait for them to answer and it doesn't matter if they say yes or no) I would like to apply for the job. (let them say their response) I am taking time to today to meet all of my neighbors, but I want to make an appointment to sit down with you and (if they give you the "I already have life insurance" spiel) give you a free review of your current coverage (if they have no life insurance agent) or show you how you can protect the people you care about with the right type of insurance. This next part is important...get out your notepad and look at it. Then tell them days and times you have available. I am available Tuesday at 6:00pm, Wednesday at 7:00pm or Friday at 5:30pm. Which appointment would you like? Don't let them hem and haw about it and decide for themselves. Then get out your card and write their appointment date and time on it and give it to them. Shake their hand, tell them you will see them soon and LEAVE.
I am telling you. There is no replacement for beating the pavement and getting in front of people. Using this method you will be meeting literally hundreds of new people every week. If you meet 200 people per week and only 1% of them buy something you are writing two apps per week. If you are averaging $500 per app you are now in the $52K per year club. This is if you SUCK and can only get a 1% response. Imagine what 2% could bring? That would make you MDRT in your very first year.
Its not about reinventing the wheel. Its about doing the work. Do the work, make the money, pay yourself what you are worth.
Don't let some craptastic sales manager preach to you about friends and family. ITS B.S.! You show me a guy that builds his book selling friends and family and I will show you a guy who's friends and family don't invite him over anymore and a guy that will be out of business in a year.
Also, don't waste your money on leads. You will starve if they are your primary source of clients. They are a great supplement if you are already successful and have the cash to dole out for them, but other than that they are a waste of time.
Spend the time that you are not prospecting businesses and homes to meet attorneys and accountants. You should ask your friends and family who they use as their attorney and accountants and then drop their name to get your foot in the door. These people are a gold mine of referrals IF they trust you.
But, in the beginning its all about getting in front of people. If you spend at least four days a week prospecting by "cold walking" you will have more people to see than you can shake a stick at.
Do it and prosper!!!
This is coming from a guy that just got a rude awakening in the business. I am now following this advice and I submitted 11 apps last week. This week looks like it will probably be about half of that, but even if you are only doing 5-6 apps a week you are making loot.
5 apps per week for $50 per month life policies = about $600 commission each or $3000 per week in total. Its simple math. BELIEVE IN THIS!
FIND PROSPECTS!
MAKE APPOINTMENTS!
MAKE MONEY!
Great Post!!!! Preach it!!!
A lot of new agents do nothing at all and just want someone to spoon feed them.
------------------------------------
Mark Rosenthal aka markingriffin
IMO/Ins Agent/Agent Trainer/Free Advice markcrosenthal@aol.comwww.realfastservice.com
Please visit mywebsite to learn more about me.
Email me for my Free Prospecting MP3 Tapes.
Re..."don't waste your time on leads."...as a blanket statement, I disagree. I get about 10-15 free leads per day and I hope to get up to 25 within 12 months. There is nothing wrong with leads.
I didn't say not to waste your TIME on leads. I said don't waste your MONEY. Leads alone will not fill the pipeline with prospects. If you are counting on making a career out of buying leads you will be out of business in less than a year.
That is all the time that I will dedicate to that subject. I have an appointment to go on. If you don't prospect consistently you will drown. That is the truth.
People can dispute what I've written here, and if you want to dispute it then you are probably more successful than me and you don't need any advice.
However, if you are new and you are struggling this plan will lead you to success. You can't get in front of 200 new people every week and NOT make money.
Tom,
Nice post. I am a newbie selling for Farmers Insurance, and I agree with you 100%. I would rather buy insurance of someone involved in the community and willing to get face to face with their customers than having to go to an office to talk about insurance, even if it cost me more.
AWWWWW! You mean the biz doesn't just fall into your bank account after you get your license?? Poo-Poo.
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Seriously - that's awsome advise (lead debate notwithstanding) regardless of how long you've been in any business.
Last edited by Charm : 09-11-2009 at 11:31 AM.
Reason: Posts merged
Most people fail in this business because they are procrastinators. They don't want to get their hands dirty and then they fail miserably. To all of you new agents this is what you should do.
Read about the five ways approach. Learn it inside and out. Then go to at least 100 businesses every week and USE IT! Don't worry about knowing what you are talking about in the beginning. Just learn how to get the appointment. You can always take a seasoned agent with you on the appointment.
Go door knocking in your own neighborhood. This is great Saturday activity. Start around 11:00am and do it straight through until 5:00pm. Go right up to the door and knock on it. When someone answers this is what you do/say:
Hi, my name is Tom and I own ___________ Insurance Agency here in town. Do you currently have a life insurance agent? (wait for them to answer and it doesn't matter if they say yes or no) I would like to apply for the job. (let them say their response) I am taking time to today to meet all of my neighbors, but I want to make an appointment to sit down with you and (if they give you the "I already have life insurance" spiel) give you a free review of your current coverage (if they have no life insurance agent) or show you how you can protect the people you care about with the right type of insurance. This next part is important...get out your notepad and look at it. Then tell them days and times you have available. I am available Tuesday at 6:00pm, Wednesday at 7:00pm or Friday at 5:30pm. Which appointment would you like? Don't let them hem and haw about it and decide for themselves. Then get out your card and write their appointment date and time on it and give it to them. Shake their hand, tell them you will see them soon and LEAVE.
I am telling you. There is no replacement for beating the pavement and getting in front of people. Using this method you will be meeting literally hundreds of new people every week. If you meet 200 people per week and only 1% of them buy something you are writing two apps per week. If you are averaging $500 per app you are now in the $52K per year club. This is if you SUCK and can only get a 1% response. Imagine what 2% could bring? That would make you MDRT in your very first year.
Its not about reinventing the wheel. Its about doing the work. Do the work, make the money, pay yourself what you are worth.
Don't let some craptastic sales manager preach to you about friends and family. ITS B.S.! You show me a guy that builds his book selling friends and family and I will show you a guy who's friends and family don't invite him over anymore and a guy that will be out of business in a year.
Also, don't waste your money on leads. You will starve if they are your primary source of clients. They are a great supplement if you are already successful and have the cash to dole out for them, but other than that they are a waste of time.
Spend the time that you are not prospecting businesses and homes to meet attorneys and accountants. You should ask your friends and family who they use as their attorney and accountants and then drop their name to get your foot in the door. These people are a gold mine of referrals IF they trust you.
But, in the beginning its all about getting in front of people. If you spend at least four days a week prospecting by "cold walking" you will have more people to see than you can shake a stick at.
Do it and prosper!!!
This is coming from a guy that just got a rude awakening in the business. I am now following this advice and I submitted 11 apps last week. This week looks like it will probably be about half of that, but even if you are only doing 5-6 apps a week you are making loot.
5 apps per week for $50 per month life policies = about $600 commission each or $3000 per week in total. Its simple math. BELIEVE IN THIS!
FIND PROSPECTS!
MAKE APPOINTMENTS!
MAKE MONEY!
Thanks for sharing this valuable info. However, in what kind of neighborhood do you go door to door and introduced yourself? What if your neighborhood is kind of ghetto?
If you live in it, you might be "ghetto" too and it won't matter. If you're not, that should motivate you to do the other things he's talking about so you won't be in the ghetto anymore.
Thanks for sharing this valuable info. However, in what kind of neighborhood do you go door to door and introduced yourself? What if your neighborhood is kind of ghetto?
I don't have a problem with my ghetto neighborhood, and my neighborhood is pretty ghetto LOL. I had my car stolen earlier this year...from my driveway at 10:30 on a Monday morning.
Then again, I'm a 6'0 tall 260 pound amateur bodybuilder. So, most people don't want to mug me LOL.
The thing to remember is that you need to sell life insurance. The people who's door your knocking on need to buy life insurance. If you don't see them someone else will and you won't get the client.
If your neighborhood sucks that bad then I would suggest moving one town over and trying there. It doesn't matter where you door knock, it just matters that you door knock.
Try to find a nice condominium complex or a nice development and just get it done. It doesn't have to be YOUR neighborhood. It can be any neighborhood. Its just a good way to meet people, get business, and get out in the world instead of sitting in your office all day. At the end of the year you could have 50 more clients and think of all the exercise that you are getting from just a few hours of walking every Saturday.
I have a 6:00pm appointment. I just wanted to check in to see what kind of sh*t storm had developed here since I posted this last night LOL.
The main thing to remember is to meet as many new people as you can. Like I said, if you are only getting sales from 1% of the 200 people that you get in front of every week you will be in that $50,000 per year income range. That is a whole lot better than most new agents are doing and think of everything that you will learn along the way!
You will hit big cases every once in a while and you will have success in the business market PLUS you will find out in six months or less whether or not the insurance business is right for you. If you are getting in front of 200 people per week and you're not writing at least 2 apps a week you need to find a new career.
Some of my biggest cases have been as a result of cold calling businesses in areas that you wouldn't walk around in after dark. Businesses are about profit, and if they can maximize profits while having their location in a less-than-desirable area, better for them. And better for the agent that has the stones to go into those less-than-desirable areas!
Last edited by Death Cab For Tootie : 09-11-2009 at 04:42 PM.
Reason: Posts merged
As I mentioned, I could not and would not do that in my neighborhood. Imagine if everyone did!
Where do you live? I will walk and talk in your neighborhood and take the business LOL. I'm out in Columbus a few times a year supporting my Buckeyes (OSU alum '01).
For the record, home football Saturdays are probably not a good day to go knocking for dollars in Columbus. Anyone who has been there knows this LOL.
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Originally Posted by Cahall12
Tom,
Nice post. I am a newbie selling for Farmers Insurance, and I agree with you 100%. I would rather buy insurance of someone involved in the community and willing to get face to face with their customers than having to go to an office to talk about insurance, even if it cost me more.
That is the beauty of being independent. I will run your rates with 20 different carriers and I will find you the best rates. I will come to your house, do all of the leg work, save you money, and give you great service. Not many of my policies get replaced.
I'm not claiming to be any type of expert, but I do know one thing. In this business you pay yourself what you are worth. If you are out there hustling and meeting people and taking apps your checks will be fat and happy. If you are surfing porn sites untill 11:00am and then checking your e-mail to see if any leads came in, and then eating lunch, and then making a dozen phone calls after dinner don't expect your checks to be as fat and happy as someone who earned their money.
Last edited by Tomfromtheshade : 09-11-2009 at 04:46 PM.
Reason: Posts merged
Tom...I admire your enthusiasm. But I could never bring myself to go door-to-door and ask my neighbors if they have a life insurance agent. If it works for you, then keep doing it.
Re..."don't waste your time on leads."...as a blanket statement, I disagree. I get about 10-15 free leads per day and I hope to get up to 25 within 12 months. There is nothing wrong with leads.
At the risk of making an assumption I would have to say that they are referrals or introductions more so than leads. Leads are never free. There is no such thing as a free lunch.
Tom great posts.... I have about 20 yrs of sales experience, but new to insurance sales. I thought buying leads was the answer. I did not do a very good job with leads, I was competing with experienced agents. SO........
Back to the basics. A prospecting system of dropping off brochures at local business, 3-4 hrs per morning, and 3-4 hrs of phone calls in the afternoon to make appointments.
I imagine my next 4 months will be more profitable than the previous 8.
There is no easy way, but a consistent effort, which should brings results.
Excellent Post! It's a great reminder to "keep it simple."
The door knocking works for me when I get out there, but I can understand some people not excelling in that system. What I enjoyed most about this post was the reminder that no matter which prospecting system you choose, ya just have to get out there and get it done!
Thanks!
Blueprint for Success for New Agents
How do you get free leads? Thanks, Mike
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