Great ways to make money, when you're broke

Discussion in 'General Insurance Agent Discussions' started by Guest, Sep 9, 2008.

  1. Guest
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    Guest Guest

    I'm not sure if I ever posted this here but it's worth a look for many. Thanks!

    Selling health insurance is a very lucrative opportunity.


    But what if you really don't have enough capital to rely on to pay for leads and continue paying the bills while you wait for the commissions to roll in?

    Here's a great solution:

    Statistics (through many forum discussions) have shown that if you cold call, every two hours of dialing will earn you two leads. *based on 25 to 40 dials per hour

    Step One: Do this for 8 hours Monday and 8 hours on Tuesday. That should be about 16 leads, and we're talking solid leads here because you solicited them, they're not shared, they're all yours.

    Step Two: Make all of your appointments (either phone or in person) for Wednesday afternoon, Thursday and Friday, even Saturday if necessary and work those 16 leads.

    Now, let's be conservative.

    Out of about 16 extremely solid leads, can you write between 3 to 8 sales? I'd say yes. So we're talking 12 to 32 applications submitted in one month.

    Lather rinse and repeat and this is 144 to 384 apps submitted in one year. Those are some awesome numbers for whatever level you're at in your sales career.

    Cost:
    Time, effort, a phone bill and maybe some gas.

    Return: We can all figure out that this is worth it.

    Remember this: Before the internet and buying leads, agents had the ability to and made six figures, so how did they do it? Well maybe this helps:

    1. Work ethic
    2. A system of selling
    3. Product knowledge
    4. Diligence
    5. Customer service

    Where are you lacking in these categories? Overcome it and you too can have a lucrative, rewarding career.

    Sell well!
     
  2. somarco
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    somarco Well-Known Member

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  3. ABC
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    ABC Well-Known Member

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    Re: Ways to make money, when you're broke.

    Good Post
     
  4. Guest
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    Guest Guest

  5. NCnatwidagent
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    NCnatwidagent Well-Known Member

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    Re: Ways to make money, when you're broke.

    Excellent post! It makes alot of sense.

    Thanks,
    John
     
  6. Guest
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    Guest Guest

    Re: Ways to make money, when you're broke.

    Thanks sir, I appreciate it. Hopefully inspiration will hit and I can contribute more.
     
  7. Slim
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    Slim Well-Known Member

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    Re: Ways to make money, when you're broke.

    Exactly right Robliano

    but...
    please give us slow learners out here
    a reminder to:

    have and use a Comfortable phone script before seeking such results!

    A good script can be easily found or made up but needs to be rehearsed until it sounds natural.

    Then the prospect answering the phone call is more willing to stay on the line and start talking.

    So many interruptions and noises going on each minute. Especially from ads on TV , Radio, Telephone , etc .

    The "broke" agent needs to slow down, take a deep breath and get ready before asking people to meet with him/her as you show.

    Your post is perfect but financial stresses sometimes make one overlook the most simple steps.

    Thanks
    Slim
     
  8. Crabcake Johnny
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    Crabcake Johnny Well-Known Member

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    Re: Ways to make money, when you're broke.

    Even if you're "broke" I'd recommend this method but pick up the auto-dialer. It will triple your results with no physical energy required with manual dialing.
     
  9. moonlightandmargaritas
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    moonlightandmargaritas Well-Known Member

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    Re: Ways to make money, when you're broke.

    The simple fact is this: if you're broke you don't belong in this business in the first place...let's call a spade a spade.

    The prospect can hear the desperation in your voice. You've got no working capital. Worry must be pervasive. There's a tendency to cut corners because of pressure...

    Enough!

    Find some way to get a bankroll that will allow you to do some real marketing, not cold calling. Beg, borrow or steal, but if you don't have some working capital, you've got almost no shot.
     
  10. Crabcake Johnny
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    Crabcake Johnny Well-Known Member

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    Re: Ways to make money, when you're broke.

    Dead wrong.

    I went indie when I was broke and wrote a lot of business going B to B - out of debt and starting buying leads.

    I know a lot of agents recently who also came in broke, put deals together telemarketing and now they work other sources.

    So telling people they don't belong in this business if they come in broke is bad advice. Is is harder? Sure.

    And actually, the most unethical agents I've meet had money coming out of their a**.

    You cannot tie ethics to cash flow.
     

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