Absolute Minimum $$$ to Start?

[CoolNameGoesHere]

Hello everyone.

I’m a 50 something lady with a barely used insurance license wanting to change that. I have been educating myself and I’m already sure that I want to go with FE. Looking at a couple IMOs with a good reputation here.

Problem is I’m pretty broke right now, hence my question: How much money do I need to set aside specifically for leads to start? I’m not talking about money to survive, that’s taken care of, but is it okay to start with money only for the first 20 leads or so, and then use the money I make with those leads to buy more leads until I get the ball rolling? Or is this a situation where I HAVE to select a territory and make a commitment to buy the leads weekly so that my IMO can get them?

I’m in Central Florida, if that makes any difference.
Thanks in advance.

 

[pcbinsurance]

Look for Doug Massi here in the Forum. Watch all of his youtube videos. They will cover everything you're asking and more. He's in Florida and might be willing to let you ride with him as he travels to your area.

Most of all, good luck.

 

[Bcrane0305]

Hello everyone.

I’m a 50 something lady with a barely used insurance license wanting to change that. I have been educating myself and I’m already sure that I want to go with FE. Looking at a couple IMOs with a good reputation here.

Problem is I’m pretty broke right now, hence my question: How much money do I need to set aside specifically for leads to start? I’m not talking about money to survive, that’s taken care of, but is it okay to start with money only for the first 20 leads or so, and then use the money I make with those leads to buy more leads until I get the ball rolling? Or is this a situation where I HAVE to select a territory and make a commitment to buy the leads weekly so that my IMO can get them?

I’m in Central Florida, if that makes any difference.
Thanks in advance.

Absolute min would be $3000. No reputable trainer would take risk if you couldn't risk 3 grand. (Considering street level contacts, ect.) Also, 99 percent of successful producers are men with extremely thick skin. Not saying a woman couldn't do this job; just saying I don't think any man would reccomend this job for a woman. Good luck

 

[pcbinsurance]

JD would dispute those high numbers of $$$ to get started. Also, females can be among the highest of earners selling final expense. Disregard above post.

 

[jdeasy]

JD would dispute those high numbers of $$$ to get started. Also, females can be among the highest of earners selling final expense. Disregard above post.

I wouldn't dispute that it would be nice to have that cushion. But I know many that started with much less, including myself, that made it just fine.

There's not a lead financing IMO out there that I would recommend today though.

 

[Thedude]

What do you do for money currently?

 

[rousemark]

Hello everyone.

I’m a 50 something lady with a barely used insurance license wanting to change that. I have been educating myself and I’m already sure that I want to go with FE. Looking at a couple IMOs with a good reputation here.

Problem is I’m pretty broke right now, hence my question: How much money do I need to set aside specifically for leads to start? I’m not talking about money to survive, that’s taken care of, but is it okay to start with money only for the first 20 leads or so, and then use the money I make with those leads to buy more leads until I get the ball rolling? Or is this a situation where I HAVE to select a territory and make a commitment to buy the leads weekly so that my IMO can get them?

I’m in Central Florida, if that makes any difference.
Thanks in advance.

As long as you aren't in a strain to pay your monthly bills, you can actually start on very little.. If you can afford to reinvest what you would make off the 20 leads that plan could work for you. When I set out as an independent, I had no money in the bank and was having to earn enough each month to support my family. Leads were not in vogue in those days. We canvassed, worked referrals, etc. It was not easy but we survived and once a renewal base was built, it became a lot less stressful. If a person has the determination and the willingness to go the extra 5 miles they can still succeed in this business, male or female, if they put forth the effort.

 

[NSRH]

Also, 99 percent of successful producers are men with extremely thick skin. Not saying a woman couldn't do this job; just saying I don't think any man would reccomend this job for a woman. Good luck

Although this might be true from your experience, I am seeing more and more women succeed in this business. Last year in Ireland for the AmAm convention all top three producers recognized were female, and eight out of the top ten at North Star so far this year are women.

 

[dtownboy]

Although this might be true from your experience, I am seeing more and more women succeed in this business. Last year in Ireland for the AmAm convention all top three producers recognized were female, and eight out of the top ten at North Star so far this year are women.

It's been my experience that women are more successful in telesales then men as well.

 

[springbokhouston]

I would put a couple months of lead and business expenses aside before you start. 20 leads a week is 160 leads in 2 months, ie $4800 plus travel expenses etc. I'm definitely one of the guys that think way more conservatively regarding this issue, that being said I've started where you are a year ago and I've done pretty well.