Ninety-Two Percent of All Agents Fail - Why?

Frank Stastny · 04-23-2009, 10:27 AM

Originally Posted by Russ

I've been doing this since Labor Day 1984 and I still have problems with rejection. It's not an easy job. I enjoy doing it. You learn a lot about people. Everyone I knew that was in the business, is no longer. They've all....quit, retired or a few even died.

I learned quite a bit about selling from sales managers and the "pro's" of the business.

Most agents will sell, but not service clients. I've known a few that could sell 10 times what I do, but would keep the issued policies in their vehicles, for weeks! Just mail the darn policies! I almost always mail policies the day they come in. Most companies will mail them directly to the insured.

As far as the average income quoted in the first post in this thread, I agree....$45,000 is about average. Reasons...decrease in commissions after the first year...people die...drop the policy...replace the policy...get on medicaid...etc...

You have to sell and service your clients...you ***always*** have to sell. You should ***always*** service your clients. Servicing... leads to future sales and referrals.

The most important thing in this business....you have to sale policies. Not 20 a week to make it and survive, but at least a few a week...consistently. Always.

I wanted to respond to this thread but thought I better see what others had to say first. I have trained a lot of agents and feel I know most of the reasons why agents fail.

Russ has said it all!

There is a lot more to being successful, as he stated, than just writing the app. When I was captive there was an agent in the office who every week consistently put up large figures in "sold" policies. However, when one looked at his in force premium he had one of the lowest in the office.

He would state that it is a total waste of time communicating with clients when that time could be spent writing more insurance. It doesn't matter how much business an agent writes, what we get paid on are policies in force.

I still have as clients people I wrote Med Supps for in 1993 when I first started selling insurance.

agent C · 04-23-2009, 10:53 AM

I think the % is kind of vague. Do feel that any certain line of insurance has a higher fail rate than the other also other things to take into considertion is if the agent is starting from scratch.

robliano · 04-23-2009, 01:43 PM

Thinly veiled? LMAO

I'm confused, I thought 90% of everyone failed? Not just sales!

Originally Posted by Norwayguy

Come on isn't this a thinly veiled attempt to get people to ask you about your High probability selling system....and after only 12 posts...imagine that...

And I would say a lot of agents fail because they are not doing activities that put them in front of prospects....And most people treat this career as a job expecting people to flock to them to buy insurance....

SportsNut · 04-23-2009, 01:55 PM

Originally Posted by Markingriffin

Okay, I will shut up now before I write a book on this.

Hey Mark, you could just make another one of those "best selling" videos...

Maybe an idea for your next one... you could dress up in Richard Simmons garb, and with some of his music playing low in the background you could rant on the merits of the reasons why so many ppl fail in the ins biz...

OR NOT...

robliano · 04-23-2009, 01:56 PM

Ah, I miss that sense of humor sir ; )~

Originally Posted by SportsNut

Hey Mark, you could just make another one of those "best selling" videos...

Maybe an idea for your next one... you could dress up in Richard Simmons garb, and with some of his music playing low in the background you could rant on the merits of the reasons why so many ppl fail in the ins biz...

OR NOT...

moonlightandmargaritas · 04-23-2009, 02:02 PM

Originally Posted by robliano

I'm confused, I thought 90% of everyone failed? Not just sales!

"If at first you don't succeed, try try again."
- Thomas H. Palmer

robliano · 04-23-2009, 02:06 PM

Maybe that's the point, they ain't trying again!!!

Originally Posted by moonlightandmargaritas

"If at first you don't succeed, try try again."
- Thomas H. Palmer

moonlightandmargaritas · 04-23-2009, 02:25 PM

Originally Posted by robliano

Maybe that's the point, they ain't trying again!!!

Actually, knowing when to quit is a valuable, underutilized concept. Recommended reading: The Dip, by Seth Godin.

Dave020 · 04-23-2009, 02:27 PM

Originally Posted by SportsNut

Hey Mark, you could just make another one of those "best selling" videos...

Maybe an idea for your next one... you could dress up in Richard Simmons garb, and with some of his music playing low in the background you could rant on the merits of the reasons why so many ppl fail in the ins biz...

OR NOT...

Maybe something like this?

YouTube - Richard Simmons' Exploding Steamer

moonlightandmargaritas · 04-23-2009, 02:30 PM

Geez, when I saw "Richard Simmons Exploding Steamer", I thought it was gonna be about a turd or somethin'...

Markingriffin · 04-23-2009, 02:31 PM

The funny thing is that is is never their own fault that they didn't make it in this business.

The leads were bad.
No one would help them (meaning -do the work for them)
I could not stay at home and make a living (Meaning- They wanted me to get off my butt and work)
They wanted me to spend some of my own money.

I've heard some funny excuses. Never once, did they say it was their fault.

If you do nothing, you will get nothing.

robliano · 04-23-2009, 02:42 PM

Ah, Seth Godin, your man crush! LOL

Originally Posted by moonlightandmargaritas

Actually, knowing when to quit is a valuable, underutilized concept. Recommended reading: The Dip, by Seth Godin.

moonlightandmargaritas · 04-23-2009, 02:46 PM

Originally Posted by robliano

Ah, Seth Godin, your man crush! LOL

Anybody that is smart will read everything they can get their hands on by him.

stuy119 · 04-23-2009, 02:58 PM

Originally Posted by moonlightandmargaritas

Actually, knowing when to quit is a valuable, underutilized concept. Recommended reading: The Dip, by Seth Godin.

The problem is that most agents don't even make it to the dip before they quit. Not that I'm complaining ...

robliano · 04-23-2009, 03:11 PM

Or anyone who wants to become smart!

Originally Posted by moonlightandmargaritas

Anybody that is smart will read everything they can get their hands on by him.

healthagent · 04-23-2009, 03:22 PM

My 1st time as a sales manager I was at lunch with the owner complaining about the reps; can't sell, lack of motivation, etc...

His line was "be glad its that way or we wouldn't need you."

90%+ failure rate in this biz? Thank God - if not there would be health insurance agents falling out of trees and you wouldn't write a deal.

Delta76 · 04-23-2009, 07:24 PM

I think this is a fairly easy business as far as knowing what to do, the execution is the difficult part. Most people have to go outside their comfort zone to make results happen and keep doing it even though the results aren't immediate. If I got paid instantly for the prospecting I did today, I would have been a heck of a lot more motivated to do it.

robliano · 04-24-2009, 12:05 AM

Great points here Mark!

Also, many people can't work for/by themselves, they need to show up to a job in order to work, they need to be told what to do and be held accountable by someone else.

Originally Posted by Markingriffin

The funny thing is that is is never their own fault that they didn't make it in this business.

The leads were bad.
No one would help them (meaning -do the work for them)
I could not stay at home and make a living (Meaning- They wanted me to get off my butt and work)
They wanted me to spend some of my own money.

I've heard some funny excuses. Never once, did they say it was their fault.

If you do nothing, you will get nothing.

Russ · 04-24-2009, 05:52 AM

Originally Posted by robliano

Great points here Mark!

Also, many people can't work for/by themselves, they need to show up to a job in order to work, they need to be told what to do and be held accountable by someone else.

That's true. I'm completely opposite..I didn't really care for working with other agents. Didn't really like working with sales managers, but looking back, learned a great deal from them. I enjoy working for myself and by myself. Have my office at my house and can start work at 5 in the morning, like today.

patch36 · 04-24-2009, 06:11 AM

I know a lot of people with inadequate product knowledge, personal issues, and poor business skills who are very successful insurance agents, but... they all have great sales skills, and are motivated by the thrill and victory of the sale. They count the money as an afterthought.