How much cash should I have to start?

[KRobby]

So fast forward to now, I've got steady work and income, savings, and I feel like I've gone through at least some of the newbie learning curve.

The real answer comes after a few whiskeys at the bar and you talk about your current study work.

I wonder how many jumped in based on sound tactical logic. Like don said, probably most had no plan b.

 

[CasualT]

As much cash as possible. The part time fe agent in 2022 is fighting inflation. Inflation in gas prices. Inflation in dm leads. Inflation in fb leads if you're going to purchase them from vendors. Inflation in the number of other newbie agents joining in blowing up clients phones.

 

[mudhound]

I'd say there is not a certian amount of money needed.
I came in with a large nest egg. I tapped it a few times. But in the end, i replaced EVERY penny of it.

 

[CALTCAgent]

I can only tell you what I feel comfortable with and do. I'd say 4 to 5 million in a cash account.

 

[Life Hawk]

I would never do this part time . Ive heard so many successful agents say that you can have no plan b . I agree with this .You must attack this as your family's life depends on it . Buy 1000 b dm leads for $2 each and knock them all . Work from 8 am till 8 pm m-sat

In my early days it was described to me like momentum. You have to get a slow train moving and it does squeal the tires as it starts it move down the track. Not to mention all the "things" that will come up to derail you along the way. (That includes well meaning folks who have no clue.)

I've sat on my butt for the past 7 months and did little next to nothing (except enjoying myself). I just finished a call session on some 6 month old leads, and I feel like I just started all over again. Too much time off in this profession can cause major brain hemorrhaging when you try to get the train moving again, it's a slow start.

Steady at the task, with an ability to learn, reinvent yourself, and a realism that understands it's not the clients fault when you don't get where you want to go... it's the guy who shows up in the mirror when you go to shave each day. (Harry people aside. )

Too many new agents get sold on the over simplification of the task that lies before them and then they over complicate the process of completing the task. I've always said, salesmen are the easiest sales.

"Don't be a follower, be a student." Jim Rohn...

 

[DonP]

In my early days it was described to me like momentum. You have to get a slow train moving and it does squeal the tires as it starts it move down the track. Not to mention all the "things" that will come up to derail you along the way. (That includes well meaning folks who have no clue.)

I've sat on my butt for the past 7 months and did little next to nothing (except enjoying myself). I just finished a call session on some 6 month old leads, and I feel like I just started all over again. Too much time off in this profession can cause major brain hemorrhaging when you try to get the train moving again, it's a slow start.

Steady at the task, with an ability to learn, reinvent yourself, and a realism that understands it's not the clients fault when you don't get where you want to go... it's the guy who shows up in the mirror when you go to shave each day. (Harry people aside. )

Too many new agents get sold on the over simplification of the task that lies before them and then they over complicate the process of completing the task. I've always said, salesmen are the easiest sales.

"Don't be a follower, be a student." Jim Rohn...

This is a tough tough job . The mechanics and what you need to do look easy . We always hear a turn key system . If you follow you can't fail . Bs . It takes incredible motivation day in day out , work ethic and the ability to not let rejection affect you . Few have all those attributes .

 

[Life Hawk]

Far fewer than most want to admit. The reality of it is we aren't special, we are just bullheaded enough to do what most would find too difficult, too complicated, too lonely, and to offensive.

 

[UKTX]

$10k is way more than I had when I started!

One thing you haven't factored into this equation is the "emotional" side of this type of business and how that can affect you without even knowing......

For example, if you have a fall back option, cash in the bank, an alternative job etc you might not make that "extra call" or really "ask for their business", because you don't really need to. Subconciuosly you might not need to push that hard etc.

I had 2 kids to feed and $300 in the bank when I started. I had to go balls to the wall.....I worked all day everyday to make it happen. Would I have done that if I had a steady source of income/back up job? Probably not. Maybe. I dunno.

Of course, this is just me, and my expereince. Everyone is different. No one is right

 

[Markthebroker]

How much cash should I have to start?

 

[rousemark]

Thank you everyone for your thoughtful responses.

Here's a little bit about my background:

Back in 2012 I got my first real sales experience, working on commission only, selling home security systems door to door, M - Sat, from May - Oct. Due to the amount I had to learn, and the personal growth required, I didn't sell much, average just over 1-2 per week, which was the minimum to stay in the program, although I worked my ass off the entire time and was 1 of 5 first year reps, of about 30 total, to sell 3 systems in 1 day.

In 2013 I was burned out on door knocking so I tried some cold call phone sales and hated that.

During all of this I had been working almost exclusively on commission, maybe one phone gig had some low hourly pay along with it, but as you all know, being both broke and new to sales is often a recipe for failure, and not an experience I want to repeat.

So fast forward to now, I've got steady work and income, savings, and I feel like I've gone through at least some of the newbie learning curve. As for the car rental, I have a motorcycle, but in this Phoenix heat I'm not sure I want to show up for appointments covered in sweat.

I've watched a ton of @Rearden 's videos, have his book, and am also going through @Todd King 's FE101 program.

If you are talking about actually renting a car, that can be very expensive. For just a few grand you could buy a decent car. Doesn't matter how old as long as it looks and runs good.Now, if you are talking about a low price lease, that would be different.