Image Problem/solution

[DHK]

In reference to DHK's question about what am I going to do about it, his response gave me food for thought I hadn't considered.

My question wasn't necessarily directed at you... or anyone in particular. Discussing industry problems are all well and good... but it doesn't necessarily do a lot of good either.

In response to my own question, I help new and prospective agents via this forum to make better career decisions, from choosing their firm to prospecting and training. Too many new agents end up being like lemmings... following each other over the cliff.

"Dogs by instinct turn aside a ditch that's too deep and wide. Not human beings. They fall one right after another." - John Savage.

If I can help reduce the "victims of the industry" from the siren songs of recruiters making lots of big promises that may never happen, and to open their eyes to what this business REALLY is... then I'm making a difference in my own small way.

 

[VolAgent]

Far too many agents want to get started "quickly & cheaply". They treat it as a job and not a business or career. And far too many agencies have the revolving door mentality. Recruitment quotas push them to put any warm and willing ass in the seat.

You say that like it is an aberration. Everyone wants to start every business, "quickly & cheaply". Only when you are dealing with other people's money, do people become willing to "do it right".

I promise you, the last McDonald's franchise that opened up near you, the owner didn't say, "**** the costs, it must be perfect no matter what!" No, he wanted it done at an acceptable level for as cheap as he could get away with. The difference is, McDonald's set minimum standards that he has to meet to have a franchise.

Other than the captive P&C agents, there is no one doing that. The captive life shops certainly aren't. The big mutuals treat it like any other job interview. To flip the script, they are doing to new agents exactly what you are accusing the OP of doing. They are steering them in a certain direction and never really mention the negatives of that path.

 

[DHK]

A big problem is that people hate salesmen..... any kind of salesmen selling any product. People tend to like their salesman but they hate salesmen.

Most salesmen (and women) just flat out SUCK at their job. They never read a book, listen to a tape/CD, go to seminars, or try to do ANYTHING to improve their skills. (At least the doctors and CPAs learn a few things from all that education over time.)

So when these amateurs go out and try to prospect and/or make a sale... and they fail... they say "it doesn't work". They should be looking in the mirror and say to the reflection "you don't have the skills to make it work". Then, you get a bunch of failures out there... to then believe that sales is a job you take until you find something you'd rather be doing.

Then there are the times when we actually LISTEN to a salesman and we buy something based on their recommendation... and then we live to regret it later on.

Just look at the number of people that sign up for the DNC list. That should tell us something about the general perception of salespeople and telemarketers.


How do we combat these perceptions and fears on the part of our prospects? By being so knowledgeable in conveying ideas in a simple format. Simplicity is the ultimate sophistication. If you can make your presentations as simple as possible, the simplicity will help YOU sell YOU because people will understand and trust the person who is making things simple - you.

As Brian Tracy says "Become the lowest risk provider of your products and services." If you know what you're doing and can keep things simple... it won't matter what company or product you're presenting. They will buy what you recommend... because they want to do business with YOU. (Obviously we want to recommend something appropriate for the client's needs.)

 

[WinoBlues]

I remember when I was in about 6th grade, a teacher told a story about two boys who found a cat. They couldn't decide which of them would keep the cat.

They decided they would see who could tell the biggest lie. Whichever of them could do that would get to keep the cat.

As they pondered, a woman walked by and asked them what they were doing.

One of the boys told her they were trying to think of the biggest lie to tell each other.

The woman told them that lying was not a good thing, that they shouldn't be doing that, and that she never lies.

The two boys looked at one another and one said to the other, "give her the cat".

Now, substitute the word lie with the word bias.

Or the word "steer".


.......

 

[scagnt83]

You say that like it is an aberration. Everyone wants to start every business, "quickly & cheaply". Only when you are dealing with other people's money, do people become willing to "do it right".

I promise you, the last McDonald's franchise that opened up near you, the owner didn't say, "**** the costs, it must be perfect no matter what!" No, he wanted it done at an acceptable level for as cheap as he could get away with. The difference is, McDonald's set minimum standards that he has to meet to have a franchise.

Other than the captive P&C agents, there is no one doing that. The captive life shops certainly aren't. The big mutuals treat it like any other job interview. To flip the script, they are doing to new agents exactly what you are accusing the OP of doing. They are steering them in a certain direction and never really mention the negatives of that path.

Most business owners want to do it right at the most cost & time effective price possible. That is different than "quick & cheap".

How many times have we seen green agents come on the forum and ask "what is the quickest paying insurance to sell?". Obviously everyone wants to get paid, that is the point of business. But too many are desperate to get paid. When I started this career I kept my night job because I didnt have the credit to last 3 or 4 months with no income (counting getting licensed). But after 8 months I was able to quit and live on insurance income.

And I feel that for a green agent, the positives of a captive big mutual usually outweigh the negatives. But you are right. And I would disagree that the big P&C shops do not do it. 10 years ago that would have been true, but today State Farm is not the place it used to b to work. There is misdirection and half truths on all sides of this industry. Which ultimately affects the consumer in one way or another. It is true with the securities industry too, but not nearly as much in my experience.

I would be in favor of a mandatory apprenticeship or mentorship in this industry. Along with a tougher insurance exam that is actually relevant to selling insurance.

 

[VolAgent]

Most business owners want to do it right at the most cost & time effective price possible. That is different than "quick & cheap".

How many times have we seen green agents come on the forum and ask "what is the quickest paying insurance to sell?". Obviously everyone wants to get paid, that is the point of business. But too many are desperate to get paid. When I started this career I kept my night job because I didnt have the credit to last 3 or 4 months with no income (counting getting licensed). But after 8 months I was able to quit and live on insurance income.

And I feel that for a green agent, the positives of a captive big mutual usually outweigh the negatives. But you are right. And I would disagree that the big P&C shops do not do it. 10 years ago that would have been true, but today State Farm is not the place it used to b to work. There is misdirection and half truths on all sides of this industry. Which ultimately affects the consumer in one way or another. It is true with the securities industry too, but not nearly as much in my experience.

I would be in favor of a mandatory apprenticeship or mentorship in this industry. Along with a tougher insurance exam that is actually relevant to selling insurance.

I mention the captive P&C shops, only because they tell you the cost of entry. State Farm and Allstate make it clear you need capital. Farmers is more of a life company in how they recruit.

The other difference you are seeing in most businesses, the cost of entry is substantially higher. It costs money to rent space anywhere. You want to open a restaurant, you need quite a bit of space in a local that gets traffic. It won't be cheap, and then and in all the additional costs of getting it open. Again, I think they still want it quick and cheap, but I would agree the significant investment makes them more careful in order to protect it.

Sadly, even people here will try and tell people that are new to the business that they can be up and running for just a few hundred dollars.

On one hand, we need a higher barrier to entry. On the other, we need to get more people into insurance. They simply need to be better prepared to succeed.

 

[GreenSky]

On one hand, we need a higher barrier to entry. On the other, we need to get more people into insurance. They simply need to be better prepared to succeed.

Like no advanced? That would be my solution.

Rick

 

[Cash]

I remember when I was in about 6th grade, a teacher told a story about two boys who found a cat. They couldn't decide which of them would keep the cat.

They decided they would see who could tell the biggest lie. Whichever of them could do that would get to keep the cat.

As they pondered, a woman walked by and asked them what they were doing.

One of the boys told her they were trying to think of the biggest lie to tell each other.

The woman told them that lying was not a good thing, that they shouldn't be doing that, and that she never lies.

The two boys looked at one another and one said to the other, "give her the cat".

Now, substitute the word lie with the word bias.

I remember when I was in about 6th grade, a teacher told a story about two boys who found a cat. They couldn't decide which of them would keep the cat.

They decided they would see who could tell the biggest bias. Whichever of them could do that would get to keep the cat.

As they pondered, a woman walked by and asked them what they were doing.

One of the boys told her they were trying to think of the biggest bias to tell each other.

The woman told them that biasing was not a good thing, that they shouldn't be doing that, and that she never biases.

The two boys looked at one another and one said to the other, "give her the cat".

Ummmm I don't get it

 

[pcbinsurance]

I use the concept of the 5 F's: Food, fitness, finances, fulfillment, fun as the basis of who and what I stand for. It's not a coincidence that finances are the 3rd F and are central to my theme and the name of my company. It's also not a coincidence that the first two F's are what they are and precede finances. Lastly, it's not a coincidence that the 4th and 5th F's follow the other 3 and are direct and indirect results of the previous 3 F's.

It is my intention that the 5 F's work in a cyclical/circular perpetual motion.

Of course, the bottom line is to do more business but I'm trying to create an image not only for myself but my peers. I live the 5 F's to the best of my ability and encourage others to do the same. I'm trying to go to market as not just a life insurance sales person but someone who has a life, a way of life, and a formula for that way of life. The formula definitely includes life insurance and safe money but it is only part of it. To be honest, it seems most people either don't get it or don't care.
Comments?
*****************
Well, since you asked, I can think of a few other "F" words that would be appropriate given what I've seen (read) from you. I'm a gentleman,
so I'll leave it up to your imagination.

 

[DHK]

I remember when I was in about 6th grade, a teacher told a story about two boys who found a cat. They couldn't decide which of them would keep the cat.

They decided they would see who could tell the biggest bias. Whichever of them could do that would get to keep the cat.

As they pondered, a woman walked by and asked them what they were doing.

One of the boys told her they were trying to think of the biggest bias to tell each other.

The woman told them that biasing was not a good thing, that they shouldn't be doing that, and that she never biases.

The two boys looked at one another and one said to the other, "give her the cat".

Ummmm I don't get it

I *think* he's saying that the person who can speak with the greatest authority... can also be the greatest liar?

Similar to the NAPFA people who say that 'fee-only' is the only way to go because they don't have any product or commission biases? Yet, since they are behind the times of product development, they don't know how to help clients with the latest strategies?

Just a guess.