Why Do Many Producers Fail?

[jdeasy]

Yeah, 240k would be nice...i never worked 12 months while doing FE...maybe 8 or 9...tops

But then again, this was always extra for me, so maybe I'm not the best to take advice from.

You are far more qualified to give advice on how to succeed selling FE than any FOS marketer that's not been successful out in the field.

You walked the walk. And you are not now only because of choice. Not because you washed out.

One of my best mentors in this business has the same story, went by Stratos on here. Fantastic agent. He didn't wash out either. He got into something else that is his passion. he's not making the money he did selling FE but he's doing what he loves.

But he would still today be someone to seek advice from if one wants to sell FE for a living.

 

[nfl72]

I remember when I first spoke with Doug Massie. It was about 2 years ago and he had called me about a post I had made. We spoke a little about the business. That's when he told me he was scheduling 10 to 15 appointments per day about an hour apart. I was floored. I was scheduling 5 or maybe 6 at the most about 2 hours apart, per day.

I think I am quite a bit older than most guys in this business. I am 62. It is very tiresome for me to go out and work 2 days in a row, which is what I have done for the past 5 years. I work mostly Wed and Thursday. Thursday morning I rarely get out of the hotel by 11am. I am also thinking about heading home by 3. Last Thursday I had a soft day so I made cold call stop at 4:30 and wrote one for $125 to save the day. Made the 2 hour ride home a little more enjoyable.

I might be wrong but I believe this is mostly a youngman's game. I have met maybe 6 or 7 agents but I would guess most of the truly heavy hitters in this business are working 4 to 5 days per week and are much younger, stronger,, and much better looking.

 

[BibH]

I wouldn't say you're quite a bit older. The avg insurance agent is 57.I think what you're not saying is most of the heavy hitters that were pounding pavment 5 days a week for several yrs are now recruiting. Burnout is huge in this business as windshield time is grinding. I think for older guys med sups on the phone over time could be a better option.Nfl do you use an appt setter?

 

[nfl72]

I tried one once for two weeks but she didn't work out. Too many no shows. And for what I do, I don't think it necessary.

When you say the average agent are you referring to FE agent? If so that surprises me, big time

 

[VolAgent]

I tried one once for two weeks but she didn't work out. Too many no shows. And for what I do, I don't think it necessary.

When you say the average agent are you referring to FE agent? If so that surprises me, big time

They aren't on this forum, as most agents aren't.

There are lots and lots of guys, and it is mostly men, in their 60s and 70s that are still selling insurance. Most have sold insurance for decades and are still living paycheck to paycheck.

I bought a car over the weekend. The finance guy was in his seventies and counted on his paycheck to survive. He couldn't live on Social Security alone and had no savings.

I fear that many boomers near retirement are going to find it quite disappointing. Their company did not offer a pension, or it is gone, and they refused to save in any way. Social Security is not intended to be a sole source of income in retirement.

 

[NuUzr]

They aren't on this forum, as most agents aren't.

There are lots and lots of guys, and it is mostly men, in their 60s and 70s that are still selling insurance. Most have sold insurance for decades and are still living paycheck to paycheck.

I bought a car over the weekend. The finance guy was in his seventies and counted on his paycheck to survive. He couldn't live on Social Security alone and had no savings.

I fear that many boomers near retirement are going to find it quite disappointing. Their company did not offer a pension, or it is gone, and they refused to save in any way. Social Security is not intended to be a sole source of income in retirement.

Pay check to paycheck... yikes! Insurance is the ticket out of that world.. I'd actually be risking giving up a pension to pursue this. That's why i laugh when some on here boast about thinking to much - just jump in bla bla.. Hey, if you have a family, med insurance, pension, 401k(separate fr pension), short/long term Dis etc.. it's a tough decision.

Then you hear about the incredible turn over rate , charge backs, unethical agencies etc --- it's not an easy decision.

Check to check after years in Insurance.. no bueno. The more I review things the more Med Sups over the phone is the way to go long term..

 

[PA Bill]

Pay check to paycheck... yikes! Insurance is the ticket out of that world.. I'd actually be risking giving up a pension to pursue this. That's why i laugh when some on here boast about thinking to much - just jump in bla bla.. Hey, if you have a family, med insurance, pension, 401k(separate fr pension), short/long term Dis etc.. it's a tough decision.

Then you hear about the incredible turn over rate , charge backs, unethical agencies etc --- it's not an easy decision.

Check to check after years in Insurance.. no bueno. The more I review things the more Med Sups over the phone is the way to go long term..

So you're going to give up your pension to sell med supps over the phone?

 

[VolAgent]

Pay check to paycheck... yikes! Insurance is the ticket out of that world.. I'd actually be risking giving up a pension to pursue this. That's why i laugh when some on here boast about thinking to much - just jump in bla bla.. Hey, if you have a family, med insurance, pension, 401k(separate fr pension), short/long term Dis etc.. it's a tough decision.

Then you hear about the incredible turn over rate , charge backs, unethical agencies etc --- it's not an easy decision.

Check to check after years in Insurance.. no bueno. The more I review things the more Med Sups over the phone is the way to go long term..

Good to see you ignored what was being said.

Many aren't living paycheck to paycheck because they can't sell and generate income. They are living paycheck to paycheck because they refuse to save in any manner.

Yes, you can still fail, but this part is an easy lesson to learn. Don't live on everything you make, whether you have a pension or not. Save some money along the way.

 

[Mrs.A.Mann]

Organization. I think that is part of it.

While I currently work in an office doing captive telesales I plan on getting out of that eventually. I've been learning harsh lessons for the future lately and am working on a cheat sheet and other tools to help me.

I also think that I may have bit off more than I can chew company wise. Currently I am appointed with 12 companies and am starting to think that I may need no more than 3 to 5 cover all that I do write.

Hard lessons but good ones. I will learn and move on.

Good luck with that. I've separated twice in the last year and it's just about put me out of business. They don't make it easy to separate. Hope you have a solid game plan.

 

[NuUzr]

I haven't watched or read this entire thread; however, I will make a couple of observations anyway. All this talk about guys writing 20K a month might sound very nice indeed but the bottom line is this, 99.99% will never even approach those "pie in the sky" numbers.

A new guy entering this business has a much better chance of hitting the lotto than averaging 20K per month. I would venture to guess that 90% of the guys that start selling FE during June of this year will be doing something entirely different in June of 2018.

Your reasons are... Drum roll --

Poor work ethic
sales isn't for everybody
high dm entry costs
chargebacks
over saturation

Same ol same ol excuses..

What are the reasons there will be some agents who will remain in the FE biz a year from now?