- Thread starter
- #11
Mattw
New Member
- 12
You guys really know how to beat up an individual.
I wish I could start full-time, but I can't take the initial hit to my income. I need to learn the selling process part-time. You are saying that it is not possible to learn the selling process on a part-time basis. I guess I'll find out.
I am going to focus on selling to one particular group and one easy to sell product (term insurance):
1. I am going to hire a telemarketer to find HPS prospects at work.
2. These will be executives age 30 to 50 that make $100,000/year or more.
3. I will pitch $1,000,000 face amount term policies.
This should be an easy test to see if my process works. Can the telemarketer find enough HPS prospects at a reasonable price? I'll find out. Can I close 75% of these prospects?
While I'm at work the telemarketer will be finding me HPS prospects. Generally it will take about 3 hours of calling to get 1 HPS prospect, because most of the time the executive will not be in his office when the telemarketer calls. So that's going to cost about $75 per lead. For 4 leads that's $300, but if I close 3 of them I'll make around $1,500 if I'm paid 100% first year commission.
If I come home from work and call one lead a day, then in theory I should be about to net about $1,200 per week. That's not bad for part-time work.
I'm not delusional. I don't expect to this to work at first. But if I keep at it then I do expect to see results.
An HPS prospect is someone that needs, wants and is willing to buy now what I am trying to sell if I can satisify their requirements. The HPS process involves quickly developing trust and respect. The HPS process focus is on the salesperson's time. Stop wasting your time on prospects that don't want to buy what you have to sell. Stop educating prospects. Stop wasting your time on prospects that are only interested. Interested prospects rarely buy what you have to sell. They'll waste your time and resources, then they'll buy from their brother-in-law.
OK, before you get ready to beat me up again, I know that there are all kinds of pitfalls to the process I have outlined. It might cost more to get HPS prospects. I might not be able to close 75% of my leads. I might close 0% of my leads for several months.
Most agents are barely getting by. Yet some agents are making hundreds of thousands a year. What's the difference? The agents that are making big bucks are not working harder because there aren't enough hours in the day to work that much harder. No, the answer is they are doing something different than the other agents.