6 Reasons Why Many Agents Fail

[moonlightandmargaritas]

You need three things to succeed:

1: Product training (yours and the competition)
2: Sales skills
3: Potential clients

You've got 'em in the wrong order. Without number 3, 1 and 2 become moot.

 

[GreenSky]

You've got 'em in the wrong order. Without number 3, 1 and 2 become moot.

I'm pretty sure the answer is that many agents listen to "trainers" that can't sell squat.

Rick

 

[Cory]

Good stuff Rob... time + energy = success!

 

[Guest]

I'm sorry, let me be more clear for you since you seem to have missed the message.

The point is that if you remove any one of the three you won't succeed as much as you'd like, regardless of the order.

You've got 'em in the wrong order. Without number 3, 1 and 2 become moot.

 

[PEL Racing]

Good information!! Very well stated!!

 

[ewilkins]

Great post. I agree with all, but the "lack of commitment" probably resonates the most with me personally. I sold life insurance with LNL several years ago. Although the company wasn't the greatest in my opinion, they still gave me the tools and support I needed to succeed. My issue was that I wasn't committed to the job. I didn't get out and work like I should have. They didn't require us to report back into the office on Fridays and as a result, I'd leave our Friday morning meetings and head home. Thinking back, I realize I could've made a lot more money than I did and probably had a full blown insurance career at this point. Instead, I'm sitting in a cubicle everyday, trying to figure out how to break back into insurance full-time. Truly commit if you are going to do this.

 

[TFrances]

Very nice overview, I like the preparation and training, a good way to build confidence in what you are selling

 

[RonRoberts]

While you make excellent points I think the most important reason any business fails is lacking an effective marketing strategy.

I started my business with $4500 and a clear idea of how I was going to consistently bring in new business and generate revenue. I lack/lacked 5/7 of the things you are stating but I'm track to hit 6 figures my second year in business. I know I could be making more if I implemented the rest of your points and I plan to change these things so I make it in the long run but I don't find anything to be more crucial than a solid marketing plan.

just my 2 cents.

I think you make a very valid point, especially when you stated that you had a clear idea on how you were going to bring in new business.

--------------------------------------------------------------
For those of you looking to find your way in this business I have some real life advice for you.

It is not my intention to insult or offend anyone that honestly posts their opinion as to "how to succeed" in this business but I personally don't buy it...100% that is.

I believe that we can list 1,2,10 or 1000 points about what "is needed" to be successful in this business but I personally think it is a load of poop if not included with a specific game plan as to how the prospective agent is going to consistently bring in new business. A game plan tailor made to the prospective agent based on his or her current personal positive/negative characteristics/qualities/traits...we all have some of each of these.

For instance, if I have $100K in the bank, determination, commitment, dedication, product knowledge, and sales skills training, but I have no clients to get in front of then eventually I will run out of money. If a prospective agent is able to answer the following questions it is my personal belief it will increase the likelihood for success:

-Establish the capital you will need to subsidize your lifestyle while learning and mastering your craft.

You fill in the blanks based on your mindset:
-Determination to do whatever it takes to________
-Commitment to _________ no matter the cost.
-Dedication to getting out of bed and working every day in order to accomplish _________

IMO, if you are not making the money you are currently hoping for in the market you are currently working, then determine if you want to stay in that market or move to another market. Most importantly, align yourself with an MGA, IMO, FMO, etc that is willing to invest their time and resources in you and train you or direct you in reaching the people necessary to make a living in this business. Hence, work with someone that will help you establish a "targeted business plan." Don't waste your time with an up-line that is not willing to invest in you! Remember, you do not need them, they need you and if they do not value you and your potential move on.

One final note, I am posting this for the agents who are unhappy in their current market, need direction, struggling to find their way, and feel overwhelmed. Not the successful agents who have their established game plan and truly do not need an up-line for other than back end support.

 

[xrac]

Depends on which type of training, spending too much time watching product webinars before pulling the trigger is common but is also because many agents lack a designed presentation and sales skills so they don't know what to do once they get on a call.

You need three things to succeed:

1: Product training (yours and the competition)
2: Sales skills
3: Potential clients

Remove any one of the three and you won't have the career that you desire and deserve.

Rob, just like the fire triangle. There you have to have fuel, an ignition source, and oxygen.

 

[Full Throttle]

Joint work takes care of #1 and #2. Prospecting and getting in front of enough people is 90% of the business.