- 830
Would love to hear the imos on here how they would proceed with new agent limited or no sales experience. For example: new sales agent saying he had 10k budget vs 500 budget. (Plan of attack to put some business on the books)
$10,000 Budget Vs $500 Budget
- Thread starter Bcrane0305
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- 591
I would never recommend starting on a $500 budget. If I had that I would buy a list and door
knock until I had enough to get on a regular DM order.
10k would give a person 30 leads a week for around 3 months. I would advise lots of ride along time before your first leads came in. As soon as the finances start balancing out up the order to 40 a week and get an appointment setter.
Understand that you aren't going to see real income until month 13 plus.
knock until I had enough to get on a regular DM order.
10k would give a person 30 leads a week for around 3 months. I would advise lots of ride along time before your first leads came in. As soon as the finances start balancing out up the order to 40 a week and get an appointment setter.
Understand that you aren't going to see real income until month 13 plus.
- 1,819
How many people actually have 10k to start in this business?
- 6,455
If we are talking totally from scratch, I question whether it is possible to start with $500, even after the costs of obtaining a license.
You would need a cell phone and plan. Don't know about a landline. Maybe a fax machine. Something for a computer. Don't know if that is a tablet or desktop or both. A car. (or the tradeoff for a car might be to work only in a large urban area using public transport.) Maybe some certification courses? I think those are definitely necessary in the Medicare area, don't know about FE. If startup goes long enough-continuing education costs become a factor. A budget for postage and office supplies. It seems like I had a couple of other things in mind once, but I can't remember what they are now.
And then the ever present need for buyers, I think the options are buying some type of leads; or buying and organizing some type of lists and then door knocking those.
I don't know what realistic cost figures for all that are, but I would think more than $500.
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Is sharing like that enough of a reality in the business that a lot of ride along is possible? and do customers get upset, afraid etc when confronted with 2 individuals instead of just one?
You would need a cell phone and plan. Don't know about a landline. Maybe a fax machine. Something for a computer. Don't know if that is a tablet or desktop or both. A car. (or the tradeoff for a car might be to work only in a large urban area using public transport.) Maybe some certification courses? I think those are definitely necessary in the Medicare area, don't know about FE. If startup goes long enough-continuing education costs become a factor. A budget for postage and office supplies. It seems like I had a couple of other things in mind once, but I can't remember what they are now.
And then the ever present need for buyers, I think the options are buying some type of leads; or buying and organizing some type of lists and then door knocking those.
I don't know what realistic cost figures for all that are, but I would think more than $500.
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Is sharing like that enough of a reality in the business that a lot of ride along is possible? and do customers get upset, afraid etc when confronted with 2 individuals instead of just one?
- 3,247
Yes, I've posted this before because it breaks down numbers for a plan of attack, for an agent with under 3K to invest into his/her business!
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- 1,912
If it was a new agent with little to no sales experience, regardless of budget, I would recommend starting at a good captive shop with free leads until they learned everything and risked their own money.
- 3,247
- 1,819
Even if the new agent had to sign a non compete agreement?
Non competes are so common to me just from my friends signing with larger companies (not insurance) I don't see them as much of a negative but the thing I don't like is that you can't sell even outside companies you are contracted with. I don't think you should be able to get leads then go to another imo. A non compete stops that sort of? Idk... this industry is so odd at the end of the day lol
If I was broke and had to make money I'd probably sign a non compete if it was only for the companies they contracted me with.
- 3,247
The problem I see with the Non-Compete agreement is that some of these insurance agencies/IMO's, "now I'm not going to mention any names", but some of them say that if you actually leave the agency, you can't even write that type of business for a year...
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- #10
- 830
I like it.... thanks For input
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