Is It Possible To Start As An Independent?

[Zoaty]

Hello Insurance Pros,

Is it possible to start out in the insurance industry as an independent, or is it almost a must to start working at an office, and having a mentor.

It seems there are a lot of great training resources that would make it possible to start without being at an agency when starting?

Thanks

 

[xrac]

The answer to is it possible is yes! Is it advisable? The answer is no. Why take the hardest route to success is the way I look at it.

 

[cadylou]

I started as an independent. It was difficult, but I made it work and have a really good business now. You need to have enough money to live about 3 years with a very small income. You can take advances, but that's dicey when you don't know what you're doing. I preferred to build my "as earned" pay, so I would have regular income coming in. But - that's slow, and you have to either have funds to live on, or do what I did - which was take a myriad of short term temporary jobs that would allow me to work my business full time, while pulling in some money to pay the mortgage, etc. while the business grew. I don't regret it, but it's not for everyone.

 

[galaxyworld123]

Anything is possible, it's just you won't have much of support when first 3 years of your business are the most important years to your future success

 

[RyanCO]

I started as an independent too, and if I had it to over again I would not have. I would have chosen a company like New York Life or Northwestern Mutual or Mass Mutual or Met Life and take advantage of their training and resources.

Training isn't just about learning how products work. It's about being forced to do the dirty work of cold calling and cold walking, and even more than that it's about learning how to recognize opportunity. When you're learning by trial and error, you realize you miss opportunities because you didn't know what you didn't know.

And further, the more trained and educated you are the more likely you'll know what strategy is in the best interest of the client. I'll bet all of us have run into prospects who have essentially been screwed over by another agent, and in at least some of those cases it was because the agent didn't know what he was doing.

 

[DHK]

If you need training wheels, you need to go where they offer training wheels until you can "ride on your own".

There are "no deals" or shortcuts in this industry.

You will pay for your training...
- from a reduced commission and working with a mentor
- paying organizations thousands of dollars for training and systems
- paying educational institutions thousands of dollars for designations
- school of hard knocks
- lost opportunities from NOT doing some or all of the above.

There are no shortcuts.

My advice would be to take a training opportunity and MILK it for all the training you can get. NYL, Mass, Guardian, MetLife, NWM... get started, and earn your LUTCF/FSCP with educational reimbursement. If you like where you're at... stick around and continue on to earn your CLU and ChFC designations. Learn the skills... THEN your possibilities really open up for you.

Until then... you'll flounder and either barely exist... or fail out... or possibly really screw up someone's financial situation... all can happen without being properly trained.

 

[EugeneM]

I would have to agree with Xrac - it is possible but not in your best interest. IMO

Forget Trial and Error thats what we have history class for. No reason to make the same mistakes as every agent did. Mentor will help you avoid a lot of problems as well as identify opportunities.

 

[Zoaty]

Exceptional information everyone - thanks for the feedback!

One of the things I especially liked was the part about working for an agent will require you to do the dirty work.

Like also mentioned, there are no short-cuts, although it almost sounds like working for an experienced agent is in some ways a short cut - a short cut to getting the training I need for a long term career without re-inventing the wheel as someone else mentioned.

Thanks!

 

[DHK]

How well do you think Chris Gardner would've done in his life if he tried to start out independent - without any training?

https://www.youtube.com/watch?v=t4Xmrz5DGLw

He brought the drive and determination, his firm provided the rest... and it opened even more doors for him down the road.

 

[Newby]

Hello Insurance Pros,

Is it possible to start out in the insurance industry as an independent, or is it almost a must to start working at an office, and having a mentor.

It seems there are a lot of great training resources that would make it possible to start without being at an agency when starting?

Thanks

What part of Indiana are you in? I'm in Evansville. Travis is in northern Indiana.

If you wanted to start with a focus on Final Expense Life Insurance we could be an asset to you.