I'm in the planning and setting goals stage of my business. I will be indepedent and farming my own leads with local contacts and small advertising campaigns. Working in the beginning with term life insurance and devoting 20-25 hrs a week at it.
My question, is a goal of 1 term life insurance sale a week a realistic goal devoting 20-25 hours a week to it? What are the full time big producers doing weekly and what are the average part timers writing weekly??
ABSOLUTELY possible. In fact, I don't know how you could survive otherwise.
I would HIGHLY recommend some type of lead supplementation to ensure your goal is realized. If you would like to contact me, I can give you some great recommendations as to how I started MY business in much the same fashion.
ONE KEY POINT: When you are "working 20-25 hours per week", make sure you REALLY discipline yourself to define what WORK is. You may be surprised how quickly time-wasters will pick apart your business if you allow them.
I'm in the planning and setting goals stage of my business. I will be indepedent and farming my own leads with local contacts and small advertising campaigns. Working in the beginning with term life insurance and devoting 20-25 hrs a week at it.
My question, is a goal of 1 term life insurance sale a week a realistic goal devoting 20-25 hours a week to it? What are the full time big producers doing weekly and what are the average part timers writing weekly??
Thanks for any input...
Gary
Instead of making your goal 1 app per week, I advise you to make it something with more substance, like ______ AV per week or _________ advanced commission each week.
What if your 1 term sale, is a $25 per mo term sale? Would you be happy with that?
Also break down what needs to happen to make a sale.
How many leads does it take to present to a qualified prospect?
How many presentations does it take to submit an app?
How many apps does it take to get an issued deal?
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Mark
"Corner Bar"---Independent Agent Anthem
My credit score's fallen like the New York Mets
There ain't a debt collector that ain't called yet
They say, "Money don't talk, it only swears"
And got me cussing in my underwear
Activity goals are easily tracked, achievable and quantifiable.
For certain, you need to know all your costs and track ROI, but setting income goals from the start is like building a house without a blueprint.
You have no idea what will work, what won't, and how long it will take.
Also production goals can be discouraging if you do not reach them.
Set realistic and achievable activity goals and then modify as you go along. You won't get as disappointed at first.
Activity goals are making X number of calls, X number of presentations, X number of referrals, etc.
Too many start out saying they want to earn (pick a number) $4,000 per week.
Nothing wrong with that, but unless you are extraordinary, you won't hit that for several weeks or months. How do you keep yourself "up" in the interim?
Activity, if it is the right activity, will produce results. If it is non-productive you will soon know if and adjust.
Activity goals are easily tracked, achievable and quantifiable.
For certain, you need to know all your costs and track ROI, but setting income goals from the start is like building a house without a blueprint.
You have no idea what will work, what won't, and how long it will take.
Also production goals can be discouraging if you do not reach them.
Set realistic and achievable activity goals and then modify as you go along. You won't get as disappointed at first.
Activity goals are making X number of calls, X number of presentations, X number of referrals, etc.
Too many start out saying they want to earn (pick a number) $4,000 per week.
Nothing wrong with that, but unless you are extraordinary, you won't hit that for several weeks or months. How do you keep yourself "up" in the interim?
Activity, if it is the right activity, will produce results. If it is non-productive you will soon know if and adjust.
I agree 100%
(The right) activity = $$$
Set goals for how many sales a week you want to make. But then work backwards and figure out:
How many appointments do I need to make a sale?
How many contacts do I need to make an appointment?
How many dials do I need per contact?
You'll have a clear idea of how many times you need to pick up the phone to meet your weekly sales goal. Hopefully your numbers will improve over time as your skills get better.
Activity, if it is the right activity, will produce results. If it is non-productive you will soon know if and adjust.
I would also say keep the activity simple and repeatable. Don't get bogged down in exotic, out of the box marketing techniuqes. Find someone successfully selling what you want to sell, find out how they do it, and then copy it as much as you possibly can.
Example of unrepeatable methods to write enough policies as a stand alone method:
-networking groups
-friends and family
-meeting people at the grocery store
Example of repeatable methods:
-internet leads
-getting referrals
-cold calling/B2B
-direct mail (works for some, not for others)
-seminars (same as direct mail)
Find the repeatable method that works for your product, sales approach, skills, and budget. Many successful methods and people on this site have already been laid out on this board or you can find people willing to help only a phone call away. No sense reinventing the wheel or getting distracted trying to test/implement every marketing method out there.
These guys are spot on.
My small contibution is: service and farm your book of business. Maybe add that to FT's repeateable list. Call your clients every other year or so and mail every year. Enclose a reply card and self addressed envelope. They are going to buy more. Better that it is from you and not me.
"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change." Charles Darwin
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