CLU, New Business, and Transition

[TylerP]

Hey guys!

Before I get going, I just want to say this forum is Grade A. It seems like everyone has a opinion about a certain subject but it is always discussed with ease and no hostility. So for you long timers here, thanks for the atmosphere.


I am getting rid to start out on my Indy journey here within the next year. I am not here to go into details regarding that but I suppose it plays into why I am posting. I am itching to get my CLU done within these next 2-3 years. I am not doing it to boost my credentials more so I am doing it because I want to enhance my knowledge in general. With all that being said, do think it would be tough to do some self-studying/test taking on my CLU while doing a startup on my Indy agency?


I've been a SF team member for over 2 years and I am ready to hit the PNC side of Indy with my feet running. I am also licensed in lfie and health and have my fair share of experience with it. For me, I feel like running a business as well as consistently studing for my CLU will not only be possible but will help me stay focused and will help my confidence, in general, about my business.

Am I delusional for thinking I can do both efficiently?

 

[DHK]

The CLU is purely academic in nature. It won't teach you how to sell, or how to put a case together. If you just want to be "exposed" to everything, I guess that's a start. That was my mindset when I studied and got my ChFC a few years ago.

If you're going to do it, and build up a client base, then I recommend that you get some great study materials in addition to what The American College sends you.

BigDaddy University - The Best Way to Study!

I've used these guys almost EXCLUSIVELY for all my exams... and passed each one on the first try... without even reviewing the official text book. Yes, you'll be paying more for these study aids, but I'm more of an audio/visual learner, so this was a wonderful resource.

But remember: The CLU is purely academic. How you put that knowledge to practical use... you'll still have to figure that out. Therefore, it will PROBABLY NOT bolster your confidence. You'll have all this knowledge, and it may be difficult to apply it. (It'll still look good on your wall though.)


If you can, take the courses while you're still at SF. If I remember correctly, Scott Wasserman (who produces the study aids I recommend) is with State Farm. You might get a 'deal' on it... and you might get educational reimbursement for the entire deal with your firm. You just have to find out.

 

[TylerP]

The CLU is purely academic in nature. It won't teach you how to sell, or how to put a case together. If you just want to be "exposed" to everything, I guess that's a start. That was my mindset when I studied and got my ChFC a few years ago.

If you're going to do it, and build up a client base, then I recommend that you get some great study materials in addition to what The American College sends you.


I've used these guys almost EXCLUSIVELY for all my exams... and passed each one on the first try... without even reviewing the official text book. Yes, you'll be paying more for these study aids, but I'm more of an audio/visual learner, so this was a wonderful resource.

But remember: The CLU is purely academic. How you put that knowledge to practical use... you'll still have to figure that out. Therefore, it will PROBABLY NOT bolster your confidence. You'll have all this knowledge, and it may be difficult to apply it. (It'll still look good on your wall though.)


If you can, take the courses while you're still at SF. If I remember correctly, Scott Wasserman (who produces the study aids I recommend) is with State Farm. You might get a 'deal' on it... and you might get educational reimbursement for the entire deal with your firm. You just have to find out.

Thanks for the response and that is exactly what I am looking for. I don't really need "help" per say, when we were talking about selling. That is the one thing that I don't lack confidence with. Even earlier on, I was probably more bold than I should have been given my actual knowledge of the products I was selling. I just want to continue learning about new products and I think the CLU will give me the well rounded knowledge to take my sales and my future business to the next level.


I think I am going to start my CLU here pretty soon while I am with SF but there is a good chance that I will get out of SF and start my business before I complete. At that point, I will just have to be smart about my work life/study balance.

 

[xrac]

What are your plans for going INDY?

 

[TylerP]

What are your plans for going INDY?

Well, right now I am looking into going with MIAA (I live in MO) to start a scratch agency. I will try to get some direct appointments with a few good PNC companies through them as well as a few life companies. From there, I will hopefully build a solid client foundation and attempt to keep my lapse scan down these next few years. After I get going, I would like to dip into the financial side a little more... but at this point, it's nothing more than an after thought.


I will most likely look to hire another sales rep in a year or so, but as for the first year I will be working by myself. I am going to work out of my home and attempt to make my website the real focal point of my business. My strenghths would be cold calling and internet leads considering that is about all I have done in the past few years. I figured if I could really work on my marketing, referrals, and website processes, I could greatly benefit in the grand scheme of things when it comes to generating leads. Add that with me cold calling and working leads and I think my foundation can look decent here in a year or two.


My dad is a sucessful entrepreneur and has ran a trucking company for about 15 years now. I am lucky enough to have him guide me through the actual business side of the agency and to help my overall organization in general. As for the sales side and generating leads, that is all on me.

 

[xrac]

Well, right now I am looking into going with MIAA (I live in MO) to start a scratch agency. I will try to get some direct appointments with a few good PNC companies through them as well as a few life companies. From there, I will hopefully build a solid client foundation and attempt to keep my lapse scan down these next few years. After I get going, I would like to dip into the financial side a little more... but at this point, it's nothing more than an after thought.


I will most likely look to hire another sales rep in a year or so, but as for the first year I will be working by myself. I am going to work out of my home and attempt to make my website the real focal point of my business. My strenghths would be cold calling and internet leads considering that is about all I have done in the past few years. I figured if I could really work on my marketing, referrals, and website processes, I could greatly benefit in the grand scheme of things when it comes to generating leads. Add that with me cold calling and working leads and I think my foundation can look decent here in a year or two.


My dad is a sucessful entrepreneur and has ran a trucking company for about 15 years now. I am lucky enough to have him guide me through the actual business side of the agency and to help my overall organization in general. As for the sales side and generating leads, that is all on me.

Sounds to me like you have mapped out a road to success.

 

[TylerP]

Sounds to me like you have mapped out a road to success.

Thanks man, that means a lot. Hopefully I can put all that into action. It all looks oh so good typing it out on a forum. Obviously, there is a lot of tedious work to go along with all of that when it comes to implementing it.