FE Lead Cost vs ROI - Tele Sales . . .

[myinsurebiz]

If you say so then it must be correct .

The difference is you gave publicly stated how many times you have failed but then in this thread you are saying how awesome you are and you're better than someone you know nothing about kind of seems like an oxymoron or you're talking out of both sides of your mouth which is it there sir .

I actually have never said that I've failed. Many ideas haven't worked - but, didn't fail.

I don't pretend. I made lots of money off Insurance. Have lost a bunch too. This time - going to focus on building the Call Center on a solid foundation.

 

[chasejordan1]

I actually have never said that I've failed. Many ideas haven't worked - but, didn't fail.

I don't pretend. I made lots of money off Insurance. Have lost a bunch too. This time - going to focus on building the Call Center on a solid foundation.

Your foundation is sand, wet sand at best. Take some advice Tom.

 

[myinsurebiz]

Your math is 100% incorrect you say you have a way of dealing with chargebacks, putting the chargebacks on the backend is it a solution , uou and the agents are still responsible for the CB, you say the leads are organic which in turn they're not, I'm sorry but your math is incorrect and your whole business plan won't work it's a huge failure if you'd listen to someone that actually knows what they're doing you might actually make some money this time around. Have any pool table and hanging out with your buddies during lunch they're supposed to be your employees does not make you money it only makes you cool

How is my math 100% incorrect? We are well aware of the responsibility. It took me many years to repay over $40,000 in debt roll up when I left the business in 2012. If the Agent is less than 6 months tenured - the charge back is deducted from the next advance check. Otherwise - the Chargebacks are taken from the Pay Thrus, Renewals and Hold Back Accounts. New Agents only get a 3 month Advance and the largest is 6 months - including us.

We create our own leads at $0 cost to the Insurance side of the business. therefore - they are organic - meaning, we generate them ourselves. Doesn't matter what we call them - they are free and they work.

I actually know exactly what I'm doing. I've done it. It's not rocket science. This time hopefully our Carrier won't go into receivership and our Agents won't bail and quit producing. That's why we have chosen to partner with Senior Life and two other A+ Carriers + AIG for GI . . .

Our Agents and Sub-Agents aren't really "employees" since they work on commissions and can work when they wish . . . Going to adopt the culture used by Zappos, Google and others. Make it a fun place to work . . .

 

[myinsurebiz]

Your foundation is sand, wet sand at best. Take some advice Tom.

What advice have you or anyone offered towards how to structure our concept? I haven't seen it Chase.

 

[chasejordan1]

How is my math 100% incorrect? We are well aware of the responsibility. It took me many years to repay over $40,000 in debt roll up when I left the business in 2012. If the Agent is less than 6 months tenured - the charge back is deducted from the next advance check. Otherwise - the Chargebacks are taken from the Pay Thrus, Renewals and Hold Back Accounts. New Agents only get a 3 month Advance and the largest is 6 months - including us.

We create our own leads at $0 cost to the Insurance side of the business. therefore - they are organic - meaning, we generate them ourselves. Doesn't matter what we call them - they are free and they work.

I actually know exactly what I'm doing. I've done it. It's not rocket science. This time hopefully our Carrier won't go into receivership and our Agents won't bail and quit producing. That's why we have chosen to partner with Senior Life and two other A+ Carriers + AIG for GI . . .

Our Agents and Sub-Agents aren't really "employees" since they work on commissions and can work when they wish . . . Going to adopt the culture used by Zappos, Google and others. Make it a fun place to work . . .

"I actually have never said that I've failed. Many ideas haven't worked - but, didn't fail." Hmm, paying back $40K seems like a fail to me?? If you could get 100's of leads "free" as you say then you should try working them yourself for at least 6 months to prove this will will work long term. (business 101) You originally said the leads were $40 per, but in 1 weeks they are now organic and free. (do you see how everyone calls BS on you) even if you take the lead cost out you still only make $37 per sale. Lastly you won't fine any LICENSED agent that will work for $300 to $450 per week. You may find fast food losers, but, they are not licensed, furthermore those type of agents / people bail quick and hard. Shall I do the math again for you. How are you going to survive on $17 to $37 per sale, you still have to pay overhead etc.

 

[chasejordan1]

Look bro I'm gonna throw you a bone and do your complete business plan spreadsheet for you, the problem is I don't think you'd actually listen. Give me your phone number I'll call you.

 

[myinsurebiz]

"I actually have never said that I've failed. Many ideas haven't worked - but, didn't fail."

Hmm, paying back $40K seems like a fail to me??

If you could get 100's of leads "free" as you say then you should try working them yourself for at least 6 months to prove this will will work long term. (business 101)

You originally said the leads were $40 per, but in 1 weeks they are now organic and free. (do you see how everyone calls BS on you)

even if you take the lead cost out you still only make $37 per sale. Lastly you won't fine any LICENSED agent that will work for $300 to $450 per week.

You may find fast food losers, but, they are not licensed, furthermore those type of agents / people bail quick and hard.

Shall I do the math again for you. How are you going to survive on $17 to $37 per sale, you still have to pay overhead etc.

Not a fail. Just didn't work. 80% of that not working was out of my control.

My health won't allow me to do that unfortunately.

They were going to come in at about $40 due to expenses and labor. But - we decided to utilize a method I used in the past to sell ads on doorhangers and also sell sponsorship on a " $5 Gift Certificate " that is handed out to those that agree to a simple survey. So - the Life Insurance part of the survey generates FREE leads for us. It works - sold 3 policies off the 10 leads we created 2 weekends ago . . .

$37 per sale? Not even close - Using a $50 sale @ 110% Commission and a 6 month advance . . . ( doesn't include PT's or Renewals )

Agent / Temp Agent / Sub Agent:

$50 x 110% x 6mo Advance = $330. 50% of Monthly paid to Agent = 6 x $50 x 50% = $150 and with the 110% paid to agency = $180.

25% Bonus to Agent = $37.50 + 25% Hold Back $37.50 + the $150 advance = $225 - and that leaves $105 gross to the Agency. Overhead won't be more than 20% of Gross ($21) - leaving a Gross profit potential of $84 for each $50 policy issued and paid.

Agents receive Pass Thrus and Renewals. Temp Agents receive Pass Thrus but no Renewals. Sub-Agents only receive Advances.

All of our Contractors will be licensed in some respect.

 

[bwhit]

lol You guys go at one another pretty good in here, don't you?

 

[chasejordan1]

Not a fail. Just didn't work. 80% of that not working was out of my control.

My health won't allow me to do that unfortunately.

They were going to come in at about $40 due to expenses and labor. But - we decided to utilize a method I used in the past to sell ads on doorhangers and also sell sponsorship on a " $5 Gift Certificate " that is handed out to those that agree to a simple survey. So - the Life Insurance part of the survey generates FREE leads for us. It works - sold 3 policies off the 10 leads we created 2 weekends ago . . .

$37 per sale? Not even close - Using a $50 sale @ 110% Commission and a 6 month advance . . . ( doesn't include PT's or Renewals )

Agent / Temp Agent / Sub Agent:

$50 x 110% x 6mo Advance = $330. 50% of Monthly paid to Agent = 6 x $50 x 50% = $150 and with the 110% paid to agency = $180.

25% Bonus to Agent = $37.50 + 25% Hold Back $37.50 + the $150 advance = $225 - and that leaves $105 gross to the Agency. Overhead won't be more than 20% of Gross ($21) - leaving a Gross profit potential of $84 for each $50 policy issued and paid.

Agents receive Pass Thrus and Renewals. Temp Agents receive Pass Thrus but no Renewals. Sub-Agents only receive Advances.

All of our Contractors will be licensed in some respect.

Have fun with that. Based on years experience your numbers are wrong but you won't listen to reason three months after doing this you're going to be screwed.

 

[myinsurebiz]

Look bro I'm gonna throw you a bone and do your complete business plan spreadsheet for you, the problem is I don't think you'd actually listen. Give me your phone number I'll call you.

I'd love to see it. Please project it on $50 average monthly premium with just a 6 month advance and $0 lead cost.