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I'm amazed, this has to be the most beneficial thread I've seen in a long time, no arguing, very solid advice, caring and concern.
GROUP HUG!!!!!!!!
GROUP HUG!!!!!!!!
Going through a rough patch
- Thread starter MOHEALTH
- Start date
This should be everyone's goal! How were you able to make it there? Many years, big saver, write business like a madman?
I submitted 97,308 in AV last month, which was from 31 health insurance applications. Not the best I've ever had, but the best this year. I'm using 3 internet lead companies, and the rest come from referrals. I find it hard to say health insurance sales go through a recession. There are so many different lead sources, and marketing ideas you may have never tried before. Be diligent in finding a marketing campaign that works.. Stay focused... Once you find something that shows promise, charge full speed ahead!
- Thread starter
- #15
First off...great response to this thread. Thanks all!
To Peeler's point---I'm well aware that this advanced thing "ISNT" the way to go. I had some bad advice early on and I regret following it. That decision is starting to show the it's detriments.
I guess my question is this....as a new agency owner (December '07) how do I eat, buy leads, pay bills and continue to grow if I snub the advanced contracts for as earned? I just dont see how it's possible. In the past few months I've been selling a mix of AE and AD, but its the advanced that keeps my alive.
Once you make enough in as-earned and renewals to pay your business and personal expenses, you can go completely as-earned. I think it's impossible to build a career without the advances unless your sitting on a lot of cash or a secondary income stream.
- 14,809
Even if you're sitting on cash, why spend your money? That's money that should be earning interest.
Spend the carrier's money. Advances are the only interest-free loan I know of. If you're getting a lot of chargebacks I'm not sure how as-earned helps that situation.
Spend the carrier's money. Advances are the only interest-free loan I know of. If you're getting a lot of chargebacks I'm not sure how as-earned helps that situation.
You're right! For the people who only want coverage for 1-6 months, sell short term or with your permanent carrier you get paid as-earned. Everything else, take as much of an advance as possible!!
- Thread starter
- #19
Let me get this straight....your advising new agents to go advanced based on some "interest free loan" logic? New agents dont have the volume that creates the revenue to be compared to ANY loan.
Our industry is plagued with a high turn-over rate. In many cases that's based on the low level of income in the beginning stages. To suggest to someone that they should "take the money and run" and not put any consideration towards the future is poor advice at best!! More accurately, it's a ticket to failure. All sales businesses are cyclical. As I'm experiencing presently...you gotta be ready for the down times...you never know when they might hit.
Is there any question where I got the advice to go advanced?
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- 14,809
When you sell properly chargebacks are never an issue. You should also be saving. If you're writing 10K a week and advanced $2,000 I doubt anyone here had $8K a month in bills.
You're supposed to save for those down times.
You're supposed to save for those down times.
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