Why You Are Successful Instead of Why People Fail

CR in STL · 10-24-2009, 06:56 PM

I have started this post as a response to another I read titled 92% in this business fail (or something like that). I think there are plenty of posts out there telling why this is such a challenging industry.

I have been in this business for a little while now and am definitley glad I chose insurance and my new career and it is not without its challenges. I came into this business with the understanding it could take years to get close to what I used to make and I am fortunate enough to have the means to ride out the storm.

What I would like to hear is why you are successfull and give details or an example of a situation.

1. How did the obvious (cold calling, door knocking, mailings, Etc) work for you and why it worked

2. What classes, seminars and book did you attend and read and how do you apply those principles to this day

3. What did your marketing plan look like. Did you stick to it and what worked and what would you have done different

4. What was your moment when you knew you were going to be successfull.

5. What goals did you set for yourself. Did you achieve them and why or why not

6. Any other thoughts or comments that I might have missed

Pretty much if we were sitting at a bar and you were telling your war stories over an ice cold beer

Michael Allevato · 10-24-2009, 07:51 PM

Bravo!! Let's hear how agents have become succesful! I agree we need more posts like this..... Michael Allevato.

healthagent · 10-24-2009, 08:09 PM

It's mainly a deep belief that you're bettering people's lives. Without that you're out. After that it's a near fanatical commitment to becoming an expert in your field. That goal is never attained but rather a journey.

somarco · 10-24-2009, 09:34 PM

I agree with John. This is all about helping others without regard to making a buck.

Over the years I made a lot of money by doing what was right for my client even if it would not put a dime in my pocket. Funny thing, I get more referrals on average from those that don't buy anything than from those who do buy.

Referrals are like gold. They pay and pay and pay some more.

I have also had the good fortune over the years to have worked with some of the finest agents in the south (when I was a company rep). I learned from the best of the best by observing what they did day in and day out.

I will also second the comment that you have to become a student of this industry and strive to learn something new every day. I am one of a small percentage of agents who actually have a business degree with a major in insurance, having had classes taught by a former VP at Pru and former dean of the Wharton School of Business and the American College. Even though I have 34 years in the industry I still learn something new every week.

Michael Allevato · 10-24-2009, 11:08 PM

Off the subject here. How do I change my state icon? It says "Alabama" I'm from WV. Thanks, Mike

somarco · 10-25-2009, 02:42 PM

How do I change my state icon?

Use white out, then draw in the appropriate flag.

Or you can go to your User CP, click edit options, scroll down to thread display options and pick a state.

We are still waiting on flags for the state of mind, confusion, disrepair and quite a few others.

You could also move to AL and solve the problem.

alphawave2k · 10-25-2009, 04:57 PM

Originally Posted by somarco

I am one of a small percentage of agents who actually have a business degree with a major in insurance, having had classes taught by a former VP at Pru and former dean of the Wharton School of Business and the American College. Even though I have 34 years in the industry I still learn something new every week.

Interesting...I just posted on another segment of the forum that there were no formal degrees for Insurance Agents...aside from math for actuary work, and risk management courses...for risk managers...this one I assume is taught somewhere. I am a totally different animal...I have a science degree (Chemistry) and some MBA course work, which matters little in this industry..nevertheless I have them. I am always looking to learn more about insurance, the industry, the sales techniques, prospecting/marketing, etc so I'm looking forward to seeing future posts here.
Alph-red-o

somarco · 10-25-2009, 05:26 PM

Can't say how many universities offer a major in insurance. Back in the dark ages when I got my degree you could get one at LSU (or maybe Tulane), Ga State and Univ. of TN (where I got mine). Purdue may have offered one as well.

I also have post-grad work through The American College and got about half way through CEBS before deciding it wasn't worth the time.

Michael Allevato · 10-25-2009, 05:59 PM

Originally Posted by somarco

Use white out, then draw in the appropriate flag.

Or you can go to your User CP, click edit options, scroll down to thread display options and pick a state.

We are still waiting on flags for the state of mind, confusion, disrepair and quite a few others.

You could also move to AL and solve the problem.

Ha, Thanks but no thanks. Nothing wrong with Alabama, but I'm 2 much of a Mountaineer fan.

CHUMPS FROM OXFORD · 10-25-2009, 08:15 PM

My degrees were in Finance and Journalism. If you plan to have websites...I endorse that combination.

Of course...plenty of other good ones too, as previously discussed.

WebNanny was not used in this post.

Markingriffin · 10-26-2009, 11:16 AM

Originally Posted by CR in STL

What I would like to hear is why you are successfull and give details or an example of a situation.

1. How did the obvious (cold calling, door knocking, mailings, Etc) work for you and why it worked

2. What classes, seminars and book did you attend and read and how do you apply those principles to this day

3. What did your marketing plan look like. Did you stick to it and what worked and what would you have done different

4. What was your moment when you knew you were going to be successfull.

5. What goals did you set for yourself. Did you achieve them and why or why not

6. Any other thoughts or comments that I might have missed

Pretty much if we were sitting at a bar and you were telling your war stories over an ice cold beer

1. WHen I first got started things were a lot easier. People still all had home phones, they all read the newspaper and all used the yellow pages to look up services. None of that is true today.

I believe anything can work if you are willing to put hard work into it and not give up.

All the Guru's will tell you that most of us didn't start off successful. The trick is none of us gave up and just did whatever it took to make it. I think the trick today is not to be afraid to try something and find your niche. This business is always changing. I mean, just 5 years ago, most life agents were all chasing new home owners. TOday it is F.E. and other things.

You get out of this business what you put into it. I can usually talk with an agent for 5 mins and tell if they are going to make it or not. If you want to learn how to be success, study what successful people did to become that way. If you want someone else to do all the work for you, then you are not going to make it long. You got to also love to read in this business and help people. You have to care about people and make relationships. You are the product that you are selling.

2. I read everything I could get my hands on and ask every agent I could a bunch of questions. The more you put into this, the more you will get out of it. I have a list of good books if you want to email me, that helped me, but I also think there is a thread on here with the books.

3. What worked back then does not work today. This business is all trial and error and stop testing the water and jump in already. SOmething you can't learn from a book or a mentor. YOu just have to mess up and learn from it.
What worked for me was to " See The People"

4. FOr a long time when I 1st got started, I didn't think I would make it. When I made up my mind that I was not going to quit and make this work, I knew I had it.

5. My goals back then were to do 2 apps a week at least. If I did this I would make more money then all my friends.

I have a ton of prospecting tapes and ideas I'm willing to share with anyone that emails me for free.

healthagent · 10-26-2009, 11:22 AM

I think the real key to success if to have a spouse like mine:

"WHAT? You mean you only made $320 last week? My nephew makes waiting tables! So, we can't pay "this" bill? How about "this bill!" And of course we won't be going to Six Flags this weekend. Great job. What are you doing for 8 hours a day anyway?"

Don't mis-read this. My wife is fantastic but it's my obligation to make money for the household. Instead of moaning about what doesn't work it's my job to get off my ass and either:

A) Find what does work
B) Man up, quit insurance and get a job

+zeek13 · 11-02-2009, 09:46 AM

Originally Posted by CR in STL

I have started this post as a response to another I read titled 92% in this business fail (or something like that). I think there are plenty of posts out there telling why this is such a challenging industry.

I have been in this business for a little while now and am definitley glad I chose insurance and my new career and it is not without its challenges. I came into this business with the understanding it could take years to get close to what I used to make and I am fortunate enough to have the means to ride out the storm.

What I would like to hear is why you are successfull and give details or an example of a situation.

1. How did the obvious (cold calling, door knocking, mailings, Etc) work for you and why it worked

2. What classes, seminars and book did you attend and read and how do you apply those principles to this day

3. What did your marketing plan look like. Did you stick to it and what worked and what would you have done different

4. What was your moment when you knew you were going to be successfull.

5. What goals did you set for yourself. Did you achieve them and why or why not

6. Any other thoughts or comments that I might have missed

Pretty much if we were sitting at a bar and you were telling your war stories over an ice cold beer

No magic to being successful. First make sure you have at least 2 years of savings to fall back on while u are building bus. Work with a good agent for a while and split bus. with him. It is the best training u will get. When u are ready get out make calls and learn to like the word NO because you will often hear it..after a while you will be able to tune out any objections. Selling is a great business do not make it hard or complicated.

Graham · 11-02-2009, 09:58 AM

I think it's true in all jobs but especially in sales, you have to love what you do. If you don't people will see right through your BS and you won't be successfull. Find the right environment in which you can be successful. I know some career agents who are very successfull but would not survive if they went independent. They love having the support they get in that environment and really thrive in it. Same for the other side I know some very successdull independent agents you are super self motivated and would not last 5 minutes in a career type environment.

Play to your strengths, identify your weaknesses and try to improve on both of them.

I am not a career counselor but I stayed at a Holiday Inn Express last night!

healthagent · 11-02-2009, 10:04 AM

If you took independent agents and put them in an office setting; still 100% independent but gave them in-house training, camaraderie, contests, etc....the failure rate would improve significantly.

The same agent who will show up at 9am and stay until 7pm - work like a horse in the right environment will fail working from home.

It takes a very unique person to make it working from home. Most of the successful association members do not work from home. They have modest offices and a secretary.

agentexhorter · 11-02-2009, 10:08 AM

Originally Posted by CR in STL

I have started this post as a response to another I read titled 92% in this business fail (or something like that). I think there are plenty of posts out there telling why this is such a challenging industry.

I have been in this business for a little while now and am definitley glad I chose insurance and my new career and it is not without its challenges. I came into this business with the understanding it could take years to get close to what I used to make and I am fortunate enough to have the means to ride out the storm.

What I would like to hear is why you are successfull and give details or an example of a situation.

1. How did the obvious (cold calling, door knocking, mailings, Etc) work for you and why it worked

2. What classes, seminars and book did you attend and read and how do you apply those principles to this day

3. What did your marketing plan look like. Did you stick to it and what worked and what would you have done different

4. What was your moment when you knew you were going to be successfull.

5. What goals did you set for yourself. Did you achieve them and why or why not

6. Any other thoughts or comments that I might have missed

Pretty much if we were sitting at a bar and you were telling your war stories over an ice cold beer

#1 find a way to make 10-15 qualified presentations weekly

#2 have a source of funds/income to satisfy household needs until you've accomplished #1

xpirtdesign · 11-03-2009, 05:25 PM

I agree with everyone most of the agents that I know who have been successfully are not money hunger guys but they are good people who are looking to help people.

Full Throttle · 11-03-2009, 06:20 PM

It's simple, but not easy: have a minimum daily prospecting activity level that has to (not like to) be completed each day. Nothing earth shattering, just steady. Do it each day and you'll be fine. Most people are taught to be reactive their entire life, so they don't do what needs to be done when they get in a proactive environment. Those people make up the 90% who fail out. You have about a 100% chance of succeeding if you set your minimum daily activity at an adequate level and simply hit your minimum daily activity each day.

DNK- · 11-03-2009, 07:57 PM

Originally Posted by +zeek13

No magic to being successful. First make sure you have at least 2 years of savings to fall back on while u are building bus. Work with a good agent for a while and split bus. with him. It is the best training u will get. When u are ready get out make calls and learn to like the word NO because you will often hear it..after a while you will be able to tune out any objections. Selling is a great business do not make it hard or complicated.

I seriously doubt very many people who started out in this industry (or will be starting out) had "at least 2 years of savings to fall back on". If you did, would it help you be more successful as suppose to just have a few months worth of savings?

With 2 years of savings I bet a lot of people would have no sense of urgency in the beginning. Sure they would have plenty of time "learning the business" but that doesn't necessarily translate into $$. At least if you have no savings you find out in 6-12 months if you are going to make it.
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Originally Posted by healthagent

I think the real key to success if to have a spouse like mine:

"WHAT? You mean you only made $320 last week? My nephew makes waiting tables! So, we can't pay "this" bill? How about "this bill!" And of course we won't be going to Six Flags this weekend. Great job. What are you doing for 8 hours a day anyway?"

Don't mis-read this. My wife is fantastic but it's my obligation to make money for the household. Instead of moaning about what doesn't work it's my job to get off my ass and either:

A) Find what does work
B) Man up, quit insurance and get a job

Sounds a lot like my wife......does that mean I will be successful?

NMFNMDRT · Yesterday, 03:17 PM

O. Al Granum.
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Originally Posted by healthagent

I think the real key to success if to have a spouse like mine:

"WHAT? You mean you only made $320 last week? My nephew makes waiting tables! So, we can't pay "this" bill? How about "this bill!" And of course we won't be going to Six Flags this weekend. Great job. What are you doing for 8 hours a day anyway?"

Don't mis-read this. My wife is fantastic but it's my obligation to make money for the household. Instead of moaning about what doesn't work it's my job to get off my ass and either:

A) Find what does work
B) Man up, quit insurance and get a job

LOL

My wife says the same thing.

Her: "What? You brought home only $158 this pay period???"
Me: "I had some chargebacks and I brought home $4,500 2 weeks ago."
Her: "I don't care."

She is a teacher, and I make well over double what she does, but she HATES the ups and downs. My renewals from only 3 years are approaching her take home pay per month, so it will only be a matter of time before I can say. "You can quit you job if you want."