Why New Agents Fail?

entrep1776

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About 15 years ago I sold cancer insurance door to door. I was not successful. I'm not exactly sure why I failed. At the time, I didn't really believe cancer insurance was a necessary /valuable product. I have changed my view on insurance products. Also, think I was working for company that just wanted my family/contacts to sign up. Finally Working somewhat poorer rural town might not have been best market and fit with clients I would feel comfortable with. I sold one policy that wasn't family.

Why do you think so many new agents fail?

What could new agents do differently?

How can new agents set themselves up to make lots of money later on?
 
About 15 years ago I sold cancer insurance door to door. I was not successful. I'm not exactly sure why I failed. At the time, I didn't really believe cancer insurance was a necessary /valuable product. I have changed my view on insurance products. Also, think I was working for company that just wanted my family/contacts to sign up. Finally Working somewhat poorer rural town might not have been best market and fit with clients I would feel comfortable with. I sold one policy that wasn't family.

Why do you think so many new agents fail?

What could new agents do differently?

How can new agents set themselves up to make lots of money later on?


You answered your own question.:yes:
 
I really think it has to do with the hiring process... most insurance companies aggressively hire kids out of college .. knowing full well that only a few will survive.. it's a number game for the m..

Furthermore, the focus is on selling cold calling etc... rather than teaching the benefits of the product..the life insurance industry is plagued by the "aggressive insurance agent" reputation .. it really hurts everyone involved
 
A lot of life insurance agents fail because that can't meet the contract requirement of the insurance company they get hired by and get fired by default.

The next reason they fail is because they need to make money and they can't make it fast enough to survive the learning curve.

Insurance companies must like it that agents that sell only their friends and family fail because they can just keep the revenue the agent would have gotten and keep repeating the process over and over and over.

The best thing a new agent can know is that prospecting is hard work and you are on your own when it comes to developing your own book of business. The insurance company won't teach you how to survive.

It's up to you.
 
About 15 years ago I sold cancer insurance door to door. I was not successful. I'm not exactly sure why I failed. At the time, I didn't really believe cancer insurance was a necessary /valuable product. I have changed my view on insurance products. Also, think I was working for company that just wanted my family/contacts to sign up. Finally Working somewhat poorer rural town might not have been best market and fit with clients I would feel comfortable with. I sold one policy that wasn't family.

Why do you think so many new agents fail?

What could new agents do differently?

How can new agents set themselves up to make lots of money later on?

Agents fail for a number of reasons. You failed selling cancer insurance because you were selling something you didn't believe in. Simple as that!

The highest number of agents fail because they get started by searching Craigslist, or online ads and get hooked up with the Primerica's, LH, SL, etc. type of IMO's/companies. They will hire ANYONE and just hope you write your family before you quit.

This job takes a certain personality type. If you don't have that personality, it WILL NOT work. When I sense agents don't have the right personality, I tell them they shouldn't waste their time/money in insurance.

Also so many people have to have a JOB. I know several people personally that make decent money at their job, but if you gave them complete freedom like we have in this business, they would be living under a bridge in 2 months or less.

Agents also get sold a bill of goods on how they don't have to have money to get started. There are those 1 in a 1,000 type of people that can bust their butt and make the money required by cold knocking, cold calling, etc. but overall, an agent needs money to invest in their business to get it started.

Then agents that pick the correct IMO, have the money to get started, get good contracts access to good leads, etc....some of them STILL FAIL. And the main reason I see is because they are ALWAYS trying to reinvent the wheel.

I hear this from time to time. "I have been spending $600 per week on leads and selling about $4,500 in AP each week, but I got this email about some DM leads that are $2 per lead! I am going to stop my mail and try those!" That agent was on a great system and it was working! His numbers would only go up in time, but he wants to cut out cost on the one thing that was MAKING him the money.

Then there are agents like yourself. And I hope you prove me wrong, but you fall into the category of agents that analyze EVERYTHING and never actually commit to anything. You have to make a decision. As the old timers would say..."Sh!t or get off the pot!"
 
You answered your own question.:yes:
Thanks hoping that was problem if I go after insurance again.

----------

I really think it has to do with the hiring process... most insurance companies aggressively hire kids out of college .. knowing full well that only a few will survive.. it's a number game for the m..

Furthermore, the focus is on selling cold calling etc... rather than teaching the benefits of the product..the life insurance industry is plagued by the "aggressive insurance agent" reputation .. it really hurts everyone involved
yep. 15 years ago was all selling. I really didn't even read the policy or know the product or need. not that it wasn't my responsibility. & company told me to keep banging doors canvassing. very frustrating when no one is home or when someone is tell me to get lost.
 
The best thing a new agent can know is that prospecting is hard work and you are on your own when it comes to developing your own book of business. The insurance company won't teach you how to survive.

It's up to you.
thanks. I like how someone on here said be better to call this career insurance prospecting vs. insurance sales.
 
thanks. I like how someone on here said be better to call this career insurance prospecting vs. insurance sales.


I've always heard/read that prospecting is the hardest and the most important part of this business.

Prospecting is a necessary evil. If you don't have someone to talk to, it's hard to make a sale....no sale, no eat.:no:
 
Agents fail for a number of reasons. You failed selling cancer insurance because you were selling something you didn't believe in. Simple as that!

The highest number of agents fail because they get started by searching Craigslist, or online ads and get hooked up with the Primerica's, LH, SL, etc. type of IMO's/companies. They will hire ANYONE and just hope you write your family before you quit.

This job takes a certain personality type. If you don't have that personality, it WILL NOT work. When I sense agents don't have the right personality, I tell them they shouldn't waste their time/money in insurance.

Also so many people have to have a JOB. I know several people personally that make decent money at their job, but if you gave them complete freedom like we have in this business, they would be living under a bridge in 2 months or less.

Then agents that pick the correct IMO, have the money to get started, get good contracts access to good leads, etc....some of them STILL FAIL. And the main reason I see is because they are ALWAYS trying to reinvent the wheel.

Then there are agents like yourself. And I hope you prove me wrong, but you fall into the category of agents that analyze EVERYTHING and never actually commit to anything. You have to make a decision. As the old timers would say..."Sh!t or get off the pot!"

No real JOB right now. rent out rooms, deal blackjack when casino calls, drive Uber. I'm pretty motivated without it. I enjoy and get out and drive Uber quite a bit and I'm my own boss. Pretty easy work though.

Guilty of trying to reinvent the wheel. Square has gotta work!

Some times gotta sit on the toilet awhile before giving good push! just hope my legs aren't asleep and I fall on my head when I try to get off!

I do focus and commit pretty well. & My execution has been really good in past 5 years.

.......
This job takes a certain personality type. If you don't have that personality, it WILL NOT work. When I sense agents don't have the right personality, I tell them they shouldn't waste their time/money in insurance.

What kind of personality or did your already list in your post?
.....
 

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