I failed!!!!

[CALTCAgent]

Please no bashing, I've done that to myself over the past two and half years.

Nice to have an honest straightforward post about the realities of the insurance business. This is helpful to others.

 

[wynne]

As some of you on here know I failed out of the FE business back in early 2015. It wasn't for me not working or being coachable; the reason I failed out is because I was horrible with money management. I had never made that amount of money before and didn't have a budgeting mindset, I bought whatever I wanted. It all caught up to me at tax time in April 2015 when I had to pay 25K to the IRS.

So, to appease my wife I went to work at a JOB, got my self on a budget and got better with money handling. It has been a struggle over the past two and half years since my income took a huge hit by getting a JOB, which my income was just barely covering household expenses.

This past October I said enough is enough of the JOB life and decided to enter back into the FE business since I knew I could produce and make great money. I finally set up three different accounts, one for taxes, one for business, and one for personal, this isn't what I had done before. Prior I had all my moneys going into one personal account and my wife and I used that for everything.

I reached back out to Joe Ciaccio at EFES and asked if it would be okay to write with him again, and he was receptive. I can honestly say that Joe has gone above and beyond in helping me get reappointed back with my carriers.

Knowing that I didn't have the funds to start on the lead program right away, I signed up for Josh's mail list and started knocking doors. I went out this past week and wrote 4K premium just off of a targeted mail list. I will definitely not keep doing that. As soon as I get my lead capital set aside I will be getting on DM as that is way more productive. However, I must say that of only knocking on doors for four days this past week and writing six polices, it was pretty good; just have to knock on A LOT of doors.

So all this is said to say that it is good to be back and I look forward to contributing.


Please no bashing, I've done that to myself over the past two and half years.

 

[wynne]

Good for you. Excellent contribution! Merry Christmas and Happy New Year to you. And to all who read this forum.

 

[nfl72]

I have a very good friend from high school days. We have worked side by side in the auto and mortgage business for 30 years. He is a good salesman but his wife is an hourly State worker and hates it when he is on strictly commission. His dad was a Farm Bureau agent for over 40 years and retired about ten years ago and he could have had his whole book but she bitched and moaned. He has been selling Lexus for the past ten years and hates it. He looks like a whipped puppy. You know, that look that salesmen get when they get brow beat day in and day out for years. they beat the soul right out of them.

 

[mudhound]

I do the 30% for taxes in a totally different bank! Pay your taxes

 

[DayTimer]

I have a very good friend from high school days. We have worked side by side in the auto and mortgage business for 30 years. He is a good salesman but his wife is an hourly State worker and hates it when he is on strictly commission. His dad was a Farm Bureau agent for over 40 years and retired about ten years ago and he could have had his whole book but she bitched and moaned. He has been selling Lexus for the past ten years and hates it. He looks like a whipped puppy. You know, that look that salesmen get when they get brow beat day in and day out for years. they beat the soul right out of them.

The car business is a grind - no doubt about it. I don't mind long hours, but in the car business it is very often long hours with no chance to make a sale. It is not a business where the salesperson is in control of his business the way salespeople in many other industries, including insurance, are. Why? Because you are handed a set schedule yet your ability to prospect is nearly non-existent, fresh leads now typically flow through a separate BDC department rather than to the sales floor, and you are at the mercy of the effectiveness or lack of effectiveness of your dealer's marketing efforts. In the car business, there are no $30 direct mail lead program. If there were, I'd take 25 per week!

 

[Matthew King]

Welcome back! Isn't it often said that failures lead to success? I would definitely say this is a big "WIN" here in my book by changing your mindset. It sounds like you are ready this time and you're already taking great steps to keep it from happening again!

 

[HoosierDaddy]

As some of you on here know I failed out of the FE business back in early 2015. It wasn't for me not working or being coachable; the reason I failed out is because I was horrible with money management. I had never made that amount of money before and didn't have a budgeting mindset, I bought whatever I wanted. It all caught up to me at tax time in April 2015 when I had to pay 25K to the IRS.

So, to appease my wife I went to work at a JOB, got my self on a budget and got better with money handling. It has been a struggle over the past two and half years since my income took a huge hit by getting a JOB, which my income was just barely covering household expenses.

This past October I said enough is enough of the JOB life and decided to enter back into the FE business since I knew I could produce and make great money. I finally set up three different accounts, one for taxes, one for business, and one for personal, this isn't what I had done before. Prior I had all my moneys going into one personal account and my wife and I used that for everything.

I reached back out to Joe Ciaccio at EFES and asked if it would be okay to write with him again, and he was receptive. I can honestly say that Joe has gone above and beyond in helping me get reappointed back with my carriers.

Knowing that I didn't have the funds to start on the lead program right away, I signed up for Josh's mail list and started knocking doors. I went out this past week and wrote 4K premium just off of a targeted mail list. I will definitely not keep doing that. As soon as I get my lead capital set aside I will be getting on DM as that is way more productive. However, I must say that of only knocking on doors for four days this past week and writing six polices, it was pretty good; just have to knock on A LOT of doors.

So all this is said to say that it is good to be back and I look forward to contributing.


Please no bashing, I've done that to myself over the past two and half years.

One of the best threads here on the Insurance Forum was your chronicling post, attempting to pick up a bar hag a few years ago. Welcome back and stop blowing all your commissions on Tampa's Hulk Hogan leftovers.