I began with one of the larger Life insurance/Med Sup companies in 2019. I will be honest, it was a rough year.
After launching, I began by contacting my "Natural Market." This was over 200 contacts that I came in with and had submitted their contact information, as well as their occupation and what I thought their income was.
I had some frustrations during this time. Despite what experienced agents said was the case with past sales directors, my sales director didn't work any appointments with me during the first month. Now, this was his first year as management and with the company, so I think he was finding his way in his new position as well. Instead, he had me run appointments with another advisor, who had just came with him from another company. While the sales director took off early or played golf, most of my appointments were with this agent who was just learning the details of the products, illustrations, and software. With this joint work, I had to split the application counts and commission. Some of the experienced agents told me that it was not supposed to work this way and that in the past, the sales director worked right beside you during the beginning months. A month or two in, I think something was said to the sales director by his manager, and he did offer to do one or two appointments a week with me, but by that time I was struggling to find new prospects. Much of my natural market had been worked, and was not impressed. As someone from a more customer-service oriented background, I know we could have answered questions better, and taken a few more apps.
Another issue, was that I was commuting from a rural community about half an hour away from the office. Most of my life has been spent 30 minutes to 1 hr and 20 minutes from our closest hub city. That initial joint work was done with another agent on the phone. Older agents have told me that going out to meet with the clients is much more effective, especially in rural, small towns.
My initial contract required certain goals be met, and I confess that I didn't hit those goals. I take full responsibility. I am also not the coolest, slickest guy, and I suspect that my sales director never thought I'd be successful. I also now realize that while I do know some people who have done well financially, the people I see every day in my community are (for the most part) not able to afford a lot. I am now on a different contract, without goals, but I figure that this allows me the ability and time to learn more and find my own way.
I know that 92% of agents fail in this industry, and believe that some of this may be self-fulfilling prophecy. I have also read that it is better to begin working leads, then eventually come back to your natural market? Have you found this to be true?
I am currently working a part-time job, trying to regain my personal financial cushion that took a hit during 2019. I have spent the past 2 months studying and learning all I can about this business and the products, strategies, and sales process, as well as how to successful in life in general. Then, in late February or early March, I plan to relaunch myself with leads, both bought and facebook generated. I plan to work my own system, traveling to several surrounding counties that include some larger towns, in order to reach my goals. Then, in 2021, I plan to either get my Series 65 or 6/66, then go back after another better contract with the same company. If not, I will at least have production numbers to show!
If anyone has any feedback or advice, let me know!
After launching, I began by contacting my "Natural Market." This was over 200 contacts that I came in with and had submitted their contact information, as well as their occupation and what I thought their income was.
I had some frustrations during this time. Despite what experienced agents said was the case with past sales directors, my sales director didn't work any appointments with me during the first month. Now, this was his first year as management and with the company, so I think he was finding his way in his new position as well. Instead, he had me run appointments with another advisor, who had just came with him from another company. While the sales director took off early or played golf, most of my appointments were with this agent who was just learning the details of the products, illustrations, and software. With this joint work, I had to split the application counts and commission. Some of the experienced agents told me that it was not supposed to work this way and that in the past, the sales director worked right beside you during the beginning months. A month or two in, I think something was said to the sales director by his manager, and he did offer to do one or two appointments a week with me, but by that time I was struggling to find new prospects. Much of my natural market had been worked, and was not impressed. As someone from a more customer-service oriented background, I know we could have answered questions better, and taken a few more apps.
Another issue, was that I was commuting from a rural community about half an hour away from the office. Most of my life has been spent 30 minutes to 1 hr and 20 minutes from our closest hub city. That initial joint work was done with another agent on the phone. Older agents have told me that going out to meet with the clients is much more effective, especially in rural, small towns.
My initial contract required certain goals be met, and I confess that I didn't hit those goals. I take full responsibility. I am also not the coolest, slickest guy, and I suspect that my sales director never thought I'd be successful. I also now realize that while I do know some people who have done well financially, the people I see every day in my community are (for the most part) not able to afford a lot. I am now on a different contract, without goals, but I figure that this allows me the ability and time to learn more and find my own way.
I know that 92% of agents fail in this industry, and believe that some of this may be self-fulfilling prophecy. I have also read that it is better to begin working leads, then eventually come back to your natural market? Have you found this to be true?
I am currently working a part-time job, trying to regain my personal financial cushion that took a hit during 2019. I have spent the past 2 months studying and learning all I can about this business and the products, strategies, and sales process, as well as how to successful in life in general. Then, in late February or early March, I plan to relaunch myself with leads, both bought and facebook generated. I plan to work my own system, traveling to several surrounding counties that include some larger towns, in order to reach my goals. Then, in 2021, I plan to either get my Series 65 or 6/66, then go back after another better contract with the same company. If not, I will at least have production numbers to show!
If anyone has any feedback or advice, let me know!
