Is Anybody Making Real Money Out There?

[Newby]

I have not posted on here in a VERY long time. I've been busy practicing what I preach.
Speaking of which, I forgot that I made this video on this very topic. So, I uploaded it just for you...here it is.



Yes, just that simple.
Are you willing to work 20 hours a day to learn what marketing works?
Are you willing to work other jobs, in addition to insurance, until you've invested in the right avenues that work for you?
Are you willing to humble yourself and approach those that are where you wish to be and ask for their help?

If any one of those is a NO answer, and the reason for being in our industry is JUST to make 7 figures, you never will.

I hope you make the right choice.

In all seriousness this is a great message. Everybody wants to be rich. But nobody wants to do the work to get rich. And they want it yesterday.

 

[rousemark]

I will start by saying I have only been trying to sell for 2 months. But I have switched companies, styles, done exactly what the training says. Said exactly the words I was taught. I just want some real responses for what I could actually make in this industry.

I am willing to work 7 days a week 12 hours a day but I am spinning my wheels in mud with these clients I have been trying to speak with. It's just a ton of wasted time and effort. I don't mind working hard as long as I know the more hours I put in the more I will make.

1.) Does anybody have a solid process that would allow me to make great money I am open to anything.
2.) What sector is the most lucrative? Annuities, Medicare, FE, Auto Insurace, Mortgage Protection? I am open to selling any of these I have my AHIP and can sell any of them just want to sell the one where I can ACTUALLY make good money month after month.

So far what I am really seeing is that these customers, these old people don't really want the policies or already have it.

I am getting discouraged and this isn't living up to what I thought it would be. Any suggestions would be great!

Decide for yourself if anyone is making good money:

2021 State of the Senior Market Independent Agent Report | New Horizons (newhorizonsmktg.com)

 

[DecisionMan]

In this business there's prospecting, and then there's everything else.

The key is prospecting. So concentrate on everything involved in prospecting: intro, script, responses to stalls and objections, voice tonality and cadence.

Record yourself, prospect with no goal of selling but to blow up prospects to just practice your script, responses and get used to getting to 'No' so it doesn't bother you.

Challenge yourself to make a lot of calls per day or per hour and when you reach that count consider it a win.

In this business you work so hard to be underpaid for the first three years so that the rest of your life you're overpaid for the hours you work.

And still those who are making the big money are grinding it out on their own pen every day. Yeah, its work - but its fun too.

Product knowledge and case development is a trap. Sure its important but is used as an excuse to not pick up the phone. All that will come when a prospect says yes and you've got to work up a case..

Searching lead companies, developing a website or FB strategy is also an excuse to not pick up the phone. Don't get fancy. Knock doors, pick up the phone, prospect and you'll both learn more and be successful.

According to Mass Mutual only 8% of agents make it three years. Why? Because they don't do what I just wrote above.

If you don't think you'll make it, you won't. Get out now.

 

[shonceman]

Decide for yourself if anyone is making good money:

2021 State of the Senior Market Independent Agent Report | New Horizons (newhorizonsmktg.com)

Interesting, insightful report. Here was the biggest shocker:
“Agents who work more hours tend to have the highest incomes.”

 

[rousemark]

Interesting, insightful report. Here was the biggest shocker:
“Agents who work more hours tend to have the highest incomes.”

The other big shocker is that,"

• Of agents who make $200,000 or more per year, 80.95% said their #1 lead source is referrals or word-of-mouth.

Granted this is not just FE producers but many are.. It is interesting they do not depend upon buying leads.. There are some that say it can't be done but this indicates differently.

 

[Travis Price]

Well, depending on what type of insurance you get into, and how you do it, you are more or less going to need money coming in from somewhere. Personally, I burned through a lot of cash my first few years, but I had access to that money, and worked a little on the side. If it wasn't for the money I had from real estate, and from selling my last business, there is no way I would have made it.

I would agree with this point. Most people start at zero cash (naively.) Also, starting at zero makes you desperate and throwing business against a wall.

As everyone knows, I'm a part time agent. My primary job gives me about 100k all in compensation a year. It would take three years of throwing crap against the was, after costs, to get close to that income. Bending over backwards to write business.

If I'm doing that, to me, it's no different then me working my job. That breathing room gives me the ability to tell people no that I don't think are a good fit for how I want my business to run.

I work this business like a 30+/week hour position.. but I would never cold leave my job without a lifeline.

 

[Tahoe Ray]

In this business you work so hard to be underpaid for the first three years so that the rest of your life you're overpaid for the hours you work.

That was always a mantra I heard when I got into the business as well. It went something like:

Work the first 5 years as no one else wants to work and live the rest of your life like everyone else wants to live.

 

[vic120]

The other big shocker is that,"

• Of agents who make $200,000 or more per year, 80.95% said their #1 lead source is referrals or word-of-mouth.

Granted this is not just FE producers but many are.. It is interesting they do not depend upon buying leads.. There are some that say it can't be done but this indicates differently.

This is it, Was about 3 years ago I started to call clients of 3 years or more and requoting, from this the referrals started really flowing more

Has changed everything and made life 1000 times easier,

Especially last year was horrible for leads and I still did decent

 

[Travis Price]

This is it, Was about 3 years ago I started to call clients of 3 years or more and requoting, from this the referrals started really flowing more

Has changed everything and made life 1000 times easier,

Especially last year was horrible for leads and I still did decent

I usually get at least 1 referral per 3 clients. Hands down, I love them.

Even some people I tell they shouldn't do anything except sign up for Part A send me referrals.

 

[Newby]

I would agree with this point. Most people start at zero cash (naively.) Also, starting at zero makes you desperate and throwing business against a wall.

As everyone knows, I'm a part time agent. My primary job gives me about 100k all in compensation a year. It would take three years of throwing crap against the was, after costs, to get close to that income. Bending over backwards to write business.

If I'm doing that, to me, it's no different then me working my job. That breathing room gives me the ability to tell people no that I don't think are a good fit for how I want my business to run.

I work this business like a 30+/week hour position.. but I would never cold leave my job without a lifeline.

You might be surprised. When I jumped into insurance I left another commissioned job where I made $75,000 consistently PLUS had a free vehicle, free gas, free insurance, and a lot of perks and that was in 1996 dollars which went way further.

I replaced that income my 1st year but not the extra benefits. By the 2nd year I did over $100,000 after all expenses and by the 3rd year $145,000. If you work it as your main gig and give up the safety net, it doesn’t take long to replace that income. And the benefits of answering to no one but yourself are priceless.