What Size Companies to Target?

inreverse

Guru
100+ Post Club
939
MN
New to this market. Have voluntary product company's that will go down to a minimum of 3 employees working at least 20 hrs a week. Some have told me to focus on 10-19 employees, any suggestions? Smaller or larger size to target? Is it easier to get an audience with less than 10 companies?
 
You may want to consider the comp you will receive as a starting point. I can't imagine anyone making enough money on a 3 life group to make it worthwhile. Do your math and that should give you a good starting point. As for the upside, it depends on the types of businesses in your geog., but I am guessing that since you are new, I would not go over 200 lives until you get some experience.
 
One thing that I learned very quickly when I started out in Group is that the size of the company is not necessarily an indication of the opportunity to write the business. If you find a company, regardless of size, that needs your help, then you have an excellent prospect. Yes, there are other factors involved. You have to know your product, the demographics that your product is most competitive for, you have to be confident and professional, etc. Some of the easiest groups I have gained access to and written were larger companies that I pre-qualified, provided a solution to their problem, and serviced the crap out of. Don't limit yourself to the smaller fish. If the Group ends up being a pain in the butt to service, at least if it is a larger Group you are making decent money.
 
The smaller groups may be easier to close and give you an opportunity to learn your craft. My experience is the smaller the group, the shorter the persistency. You need at least five people on the rolls to keep an account over time.
 
Back
Top