Checklist prior to going Independent

Upping this. Finally making the leap in 2022. What are some transparent/reliable FMOs I should consider looking into? (primarily doing MAPD/Med Supp)
 
Upping this. Finally making the leap in 2022. What are some transparent/reliable FMOs I should consider looking into? (primarily doing MAPD/Med Supp)
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Do the right thing because it's simply the right thing to do."
Todd R. King
Owner at TR King Insurance Marketing
Partner at ILIAA.org and MT101.com

(540) 400-6275 Local
(800) 590-7207 Toll Free

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I think the following Skiing joke is a good mind set to get ready for the masochistic excercise of setting up an independent agency:
"Ski season is almost here! Hence, the following list of Exercises to get you prepared:

16. Visit your local butcher and pay $30 to sit in the walk-in freezer for a half an hour. Afterwards, burn two $50 dollar bills to warm up.

15. Soak your gloves and store them in the freezer after every use.

14. Fasten a small, wide rubber band around the top half of your head before you go to bed each night.

13. If you wear glasses, begin wearing them with glue smeared on the lenses.

12. Throw away a hundred dollar bill-now.

11. Find the nearest ice rink and walk across the ice 20 times in your ski boots carrying two pairs of skis, accessory bag and poles. Pretend you are looking for your car. Sporadically drop things.

10. Place a small but angular pebble in your shoes, line them with crushed ice, and then tighten a C-clamp around your toes.

9. Buy a new pair of gloves and immediately throw one away.

8. Secure one of your ankles to a bed post and ask a friend to run into you at high speed.

7. Go to McDonald's and insist on paying $8.50 for a hamburger. Be sure you are in the longest line.

6. Clip a lift ticket to the zipper of your jacket and ride a motorcycle fast enough to make the ticket lacerate your face.

5. Drive slowly for five hours - anywhere - as long as it's in a snowstorm and you're following an 18 wheeler.

4. Fill a blender with ice, hit the pulse button and let the spray blast your face. Leave the ice on your face until it melts. Let it drip into your clothes.

3. Dress up in as many clothes as you can and then proceed to take them off because you have to go to the bathroom.

2. Slam your thumb in a car door. Don't go see a doctor.

1. Repeat all of the above every Saturday and Sunday until it's time for the real thing!"
 
Here's what I tell anyone starting out

1. Trim your personal budget to the bone.
2. You might need a side hustle. Or move in with your parents. Or have a spouse who can meet the budget each month.
3. You are going to eat Ramen in year 1. McDonalds in year 2. And at the end of year 3, if you can't order a steak anywhere you want, you need to get a real job.
 
You really need the following:

1) Money- It looks like you're leaving your book. So you're starting at zero. That sucks. That means you need to eat, pay your bills, and market. As noted above, trim your budget as much as possible.

DO NOT BE AFRAID TO TAKE A CRAPPY JOB LIKE UBER while you build your book.

2) Leads-

Don't use Facebook. I mean, you can, and some people are successful.. but META has the dumbest marketing rules in all creation and nobody is looking for your 10 tips about Medicare on Facebook. After trying FACEBOOK multiple times, I said screw it.

Also, Leads. I'd get in the business of generating your own vs buying them. Personally, I'm a control freak. I like having my hands in every aspect of my marketing plan. I'm not ashamed to say I stole from T65Inbound.com a little bit, especially since the owner and I talked about different generation ideas (he started using things that I tweaked on his setup, not saying that he took it from me.. and also not caring if he did.)

Personally, any generation you do should lead people to your website, along with your contact info. Seniors generally don't want to immediately call someone that you mailed once. They usually have seen my website, read my story, and have contacted me directly. That usually filters out a lot of time wasters.

You write less, but your business is usually better.

Finally, you need a mentor or two. You might get it from your FMO, but I wouldn't count on it. This site is a good place to find one. But this leads to my bonus tip...

BONUS TIP:
No matter what you decide to do, someone is going to have an opinion and think you should do it differently. In the immortal words of George C Scott in Angus, "Screw em.."

They aren't paying your bills. You're independent to make your own decisions. Listen when it makes sense and do whatever when it doesn't.
 
You really need the following:

1) Money- It looks like you're leaving your book. So you're starting at zero. That sucks. That means you need to eat, pay your bills, and market. As noted above, trim your budget as much as possible.

DO NOT BE AFRAID TO TAKE A CRAPPY JOB LIKE UBER while you build your book.

2) Leads-

Don't use Facebook. I mean, you can, and some people are successful.. but META has the dumbest marketing rules in all creation and nobody is looking for your 10 tips about Medicare on Facebook. After trying FACEBOOK multiple times, I said screw it.

Also, Leads. I'd get in the business of generating your own vs buying them. Personally, I'm a control freak. I like having my hands in every aspect of my marketing plan. I'm not ashamed to say I stole from T65Inbound.com a little bit, especially since the owner and I talked about different generation ideas (he started using things that I tweaked on his setup, not saying that he took it from me.. and also not caring if he did.)

Personally, any generation you do should lead people to your website, along with your contact info. Seniors generally don't want to immediately call someone that you mailed once. They usually have seen my website, read my story, and have contacted me directly. That usually filters out a lot of time wasters.

You write less, but your business is usually better.

Finally, you need a mentor or two. You might get it from your FMO, but I wouldn't count on it. This site is a good place to find one. But this leads to my bonus tip...

BONUS TIP:
No matter what you decide to do, someone is going to have an opinion and think you should do it differently. In the immortal words of George C Scott in Angus, "Screw em.."

They aren't paying your bills. You're independent to make your own decisions. Listen when it makes sense and do whatever when it doesn't.


I appreciate your words of wisdom. In regards to starting from scratch, I will actually get to keep my current book of business as I transition to an FMO. I totally agree about having other sources of income when trying to start something from scratch. I have another venture that will provide cash flow while I ramp up the med business. So I'm thankful for that. I will definitely take your advice into account moving forward.
 
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