As a "side hustle"?

[Markthebroker]

Just remember, if you are interested in side hustling, there are a lot of ways to make money if you are unhappy with your day job.

 

[DHK]

I'll just add this video by @Rearden to the thread:

 

[Travis Price]

I'm conflicted about this response. Since this guy is super new, I think dealing with the rejection of cold calling is a good idea. It also gets him used to the phone in a sales environment. And he's not committed yet.

All of these things tell me it's a good idea until he decides this is what he's done.

Then he needs to stop cold calling. If we wants to do telemarketing leads, but them or hire someone to to them (Op should buy them.)

Personally, I think as a part time agent he needs to maximize his working hours to talk to interested prospects.

His should be automating his lead generation/sales processes as much as possible. Drip marketing, content marketing, DM.

My opinion, writing about a topic helps you learn about it, because you have to research.

He should take the 6m of lead time here to learn about sales and products. He really needs to become a student of the insurance game. So when he starts getting leads he can shorten the learning curve of selling products, overcoming objections, selecting the right products for clients.

Cold calling should be the farthest thing from his mind.

That being said, he's also not really committed to anything yet.

I think you can do insurance part time in the beginning as long as your hours worked are used for prospecting.

You seem to be analyzing a lot right now. I'd recommend asking an agent if you can cold call for them for about a month. Get a feel for talking on the phone to people who aren't expecting your call. If you can handle that type of interaction plus the rejection then you will have a better idea if this is for you or not.

 

[mdlovell]

I'm conflicted about this response. Since this guy is super new, I think dealing with the rejection of cold calling is a good idea. It also gets him used to the phone in a sales environment. And he's not committed yet.

All of these things tell me it's a good idea until he decides this is what he's done.

Then he needs to stop cold calling. If we wants to do telemarketing leads, but them or hire someone to to them (Op should buy them.)

Personally, I think as a part time agent he needs to maximize his working hours to talk to interested prospects.

His should be automating his lead generation/sales processes as much as possible. Drip marketing, content marketing, DM.

My opinion, writing about a topic helps you learn about it, because you have to research.

He should take the 6m of lead time here to learn about sales and products. He really needs to become a student of the insurance game. So when he starts getting leads he can shorten the learning curve of selling products, overcoming objections, selecting the right products for clients.

Cold calling should be the farthest thing from his mind.

That being said, he's also not really committed to anything yet.

I agree long term cold calling is not a strategy. Your post is good advice.The reason I say start with cold calling for someone else is for the mental aspect.

When buying leads you typically sell at most 20%. So best case scenario is 4 times as many leads are telling you no than yes.

Even though this is still profitable it can be a hard mental adjustment for someone new. And doing some cold calling let's you dip your toe in without committing too much time or money and realizing this isn't for you.

 

[somarco]

writing about a topic helps you learn about it, because you have to research.

Sound advice, but quite a few folks shy away from the written word.

Reading it, or writing.

Writing gives you time to think about WHAT you want to say as well as HOW you want to say it.

Putting a bunch of words on paper won't cut it.

At this point in my career I don't normally have to spend a lot of time on research. Most of the time I know the topic and will only require 10 minutes or less of research. Usually for specifics but sometimes looking for relatable stories.

Those can take a lot more time.

Even still, it probably takes me an hour or more to craft a 1000 word post.

It's not so much WHAT I am saying but HOW I want the piece to appear to the reader and make sure the thought process flows in a logical manner.

I have an animated video on my YT that runs about 3 minutes. I spent WEEKS writing and rewriting the script. Probably a total of 15 - 20 hours actually working on it. Plus more time thinking about it and reading it.

Someone that once made his living writing articles complimented me on the script. He said he normally discounts animated videos but mine was different. He talked about spending hours crafting the right lead in to engage the reader early on.

I appreciate his calling and letting me know his feelings.

The point of all this is to drive home the point of finding a way to EFFECTIVELY COMMUNICATE with a prospect in such a way as to allow them to not only understand your message but BELIEVE it.

Even if you never write a blogpost, create a website, record a podcast or video, practice WRITING your thoughts then READ them as if you are hearing/reading the message for the first time.

Does it make sense?

Do you understand it?

Do you believe it?

Does it motivate you to take action?

If not, start over. It will make you a better agent in the long run

 

[Cornelius]

The OP asked about starting out part-time. Has anyone noticed not one person from a Organization that has a "MLM" structure has posted any information?

This is a great forum but it seems to be one sided towards the conventional full timers. If another way is mentioned the posters will be pounced on.

Just bring up WFG, Primerica, NAA, or whomever.. I know to some extent I may get blasted for this post or even mentioning the above companies but I can take and give back but I think all known options should be allowed and the poster make a decision which they feel is within their best interest.

 

[Travis Price]

The reason that those outfits catch flack is because you can be part time and get better contracts and leads. Those organizations take a huge amount of advantage of their agents.

 

[goillini52]

The OP asked about starting out part-time. Has anyone noticed not one person from a Organization that has a "MLM" structure has posted any information?

I wonder why?

Hey, maybe his "side hustle" could be LegalShield.

 

[goillini52]

Hello, all. I am interested in learning about sales avenues that would work as a scalable side hustle.

I am 30 with a family and a day-job that pays about $50K/year with benefits. I live in a small town of about 30k people.

I started doing some web design on the side, but I really want to get away from that for a number of reasons.

I started poking around and trying to learn about other side business avenues and I am trying to learn more about insurance sales.

My general question is how feasible this is as a side hustle (though I really hate that term). I find that I have an honest 20-30 hours/week to dedicate to things other than my day-job and family commitments.

1. How "scalable" is this? How few hours can a person dedicate to this and still have it be worth their while?

2. What are the available sales avenues for this? Is it mostly selling to individuals local to (your town)? Or are there sufficient opportunities for telesales/online sales?

3. What are some good resources to learn about "how it works"? I know virtually nothing about selling insurance.

4. How does it work? I understand that to do it as a side business I would need to work with an FMO/IMO (and honestly, I have zero interest in having another boss other than myself). How do people generally get started? Does it really evolve around a bunch of "door-knocking"?

5. What are the typical start-up costs? I know that I need the state course/exam, insurance of my own, and I already have a home office, phone system, etc. that I use for my existing side business.

6. Which type of insurance (lines of authority, I think it's called?) do you think would be best for a person in my situation?

If insurance desn't work out, there are other "side hustles"

side hustle ideas - YouTube

 

[Tahoe Ray]

If insurance desn't work out, there are other "side hustles"

side hustle ideas - YouTube

I just got back from an insurance conference and one of my buddies said that when he caught an Uber home, the driver asked where he was.

He told him and the dude tried to recruit him to his downline citing 9 years experience and great comp.

I don't hate on people working multiple gigs to do what they need to do but I really don't want my upline driving a taxi.