ByeBye NYL - Hello Indepedent!

[DHK]

If he just wants you "part-time", then I wouldn't go into a partnership. I would just form a "joint venture" instead. He refers his leads to you and you close them for a 50/50 split. And, of course, if you find group health prospects, you bring him in for a 50/50 split as well.

You are AOR on all your life cases, and he is AOR for all group health cases.

There is also the MDRT 5 20's for case split design:
http://addiewoods.com/yahoo_site_admin/assets/docs/MDRT_Split_AWC.32870321.pdf

You and he both retain your independence, and you both profit.

If he's offering you anything else (desk, computer, phone, internet, employee benefits), offer to pay the costs.

I think that would be the easiest and simplest way to work together.

 

[SuperWoman]

If he just wants you "part-time", then I wouldn't go into a partnership. I would just form a "joint venture" instead. He refers his leads to you and you close them for a 50/50 split. And, of course, if you find group health prospects, you bring him in for a 50/50 split as well.

You are AOR on all your life cases, and he is AOR for all group health cases.

There is also the MDRT 5 20's for case split design:
http://addiewoods.com/yahoo_site_admin/assets/docs/MDRT_Split_AWC.32870321.pdf

You and he both retain your independence, and you both profit.

If he's offering you anything else (desk, computer, phone, internet, employee benefits), offer to pay the costs.

I think that would be the easiest and simplest way to work together.

You sure know your stuff, sir. We did exactly what you suggested, joint partnership, 50-50. He wants to start slow, to see what I can do with about 15 namescontacts he's given me. Some are former clients, which I don't see how that's a good idea? But he is concerned that his current clients will object to my calling on their employees (after hours, of course).

This is all new territory for me. I don't quite know yet how to approach these folks. I will study the forum for ideas on that. Thank you again

 

[TFMSINC]

You are right. DHK knows his stuff. I've not seen any of his posts that are not "right on the money"!

 

[SuperWoman]

This guy only gave me about 10 leads - most of which are -10 degrees. Former group health clients, and a few who have only dental with him. He is fearful of giving me current, active clients for fear the business owner will be miffed that we are prospecting their employees. Which is silly, as I am not contacting them during office hours.


Fear is not an effective sales strategy. He said he'd be over joyed if I wrote one $500k term policy. Meh.....I don't know how to overcome his fear to go all in. Or, go home. :/

 

[DHK]

He's testing you. When you bring someone new on board, you don't sic them on your top clients. You test them out with your lower level clients - the ones you can afford to lose.

Prove your worth with these and help him to feel at ease with you. You'll get more as you build more trust.

I'd be more concerned if he gave you his top clients to work with right off the bat. I think that would be foolish to start out a new partnership that way. With his top clients, he should introduce you if you're in the office, but that's about it initially.

Give the partnership time. However, this does not mean that you should stop prospecting for your own cases.

 

[SuperWoman]

Yes, it makes sense in one regard. But, it's only a small handful of leads and I feel like the odds are so limited. I am absolutely working my own prospects.

 

[DHK]

Does he understand your sales cycle and process?

I only did one large group health plan about 8 years ago or so. It was rather involved, particularly since it wasn't my forte. But it took about 2 months to put that together back in the day.

Does he believe that you have a similar sales cycle, so he's only giving you a few to work on at a time?

When will you get back together with him to do a check-up on your relationship? This is a good idea with any kind of partnership - to make sure you're both on the same page with expectations, etc.

 

[SuperWoman]

Hello DHK~

My apologies for this late reply. I was traveling. Back in Miami and Orlando, trying to avoid Hurricane Hermine. Managed to drive through bands of horrid weather on I-75 to Atlanta.

You ask good questions and bring home a point. I don't think he understands how the life sales cycle is. Since he's never done it. I actually messaged him yesterday because I have a lead on group health with a company a friend and her husband owns in Miami. I asked him to work it with me since it's new to me. It's a small company - 10 people - but I know nada about it. So we will work it together. One thing we are unsure about is that although I am licensed in FL, he is not. Don't know how he can share it with me unless he gets a non-resident license in FL.

I guess that will be our next hurdle. The current hurdle is how to deal with this prospect's husband/co-owner who hates his wife. (They are divorcing) and won't give us a shot at a meeting. She says their current group agent is awful and she wants to change. Ah, the joys of small, family businesses