Is The 4 Hour Insurance Work Week A Crock?

Jul 7, 2008

  1. Peter Ryan
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    You've probably all read "The 4 Hour Work Week" by Tim Ferris (If you haven't I'd recommend it)

    Anyway, just curious if you guys have found his principles applicable to your insurance careers.

    I think some of his stuff is far fetched, but obviously the stuff about email is valid. (not getting distracted first thing in the morning with email, etc)

    Some of his ideas are totally off base for someone who runs a normal business...but the concept is intriguing.

    What are your thoughts?
     
  2. Zachery
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    Zachery New Member

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    Peter:

    I've read that book and it just isn't real. I don't know any insurance agent that only work 4 hours a week and makes a lot of money.

    You're a fool if you believe such.

    Being successful comes from hard and smart work. Not pretending that you can work only a few hours a week and make lots of money.

    Zach
     
    Zachery, Jul 7, 2008
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  3. Peter Ryan
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    I'm not saying that it's real, I'm simply asking for input from others.

    Perhaps someone else has figured a way to set up their insurance business in a way that allows them to take more time off.

    (Lets have some comments from someone besides Zachary please)

    Anyone else been able to set up a nice light work week while making lots of money?

    Peter

    "Cold Calling Sucks"
     
  4. Guest
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    Guest Guest

    While I haven't read the book, the only way to work four hours a week in insurance is to have an agency under you, have a manager to run it, come in to show your face, maybe run a meeting, do the books etc.

    It would take some time to build it but it's possible. Anything is possible.

    :jiggy:
     
    Guest, Jul 7, 2008
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  5. Zachery
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    I agree that having an agency underneath you is possible, however I still know principals that have a so called agency underneath them and still work MORE THAN 4 HOURS A WEEK.

    Yes, it can be possible to take more time off. But 4 hours a week is unreasonable.

    It is just a way to sell more books...Sure I read it because I like to learn, however I also deal in reality...You have to work more than 4 hours a week to make really good money and be successful.

    I don't see Donald Trump, Ophrah Winfrey, Warren Buffett only working 4 hours a week. They already have wealth and they work more than 4 hours a week.

    Zach
     
    Zachery, Jul 7, 2008
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  6. theinuranceguy
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    I work 60+ hours a week trying to run an agency of independent agents, but I do spent time out in the field. I would say is possible to spend less than 5 hours a week in the field and make at least $50,000 per year, especially in the senior market.

    You do have to realize that you would spend no time prospecting and pay some else to do that for yourself.

    Pay someone $10 per hour for 10 hours a week.

    You get 10 appointments. A seasoned agent can run Dual Eligible Medicare appointments in about a half hour, 45 min. tops. If you close 3 out of 10 and you get paid street level, thats $1,200 in commission.

    Take away $100 for your telemarketer, and your over a grand a week.

    Now thats only 5 hours in peoples houses. This does not include driving around, answering your phone, and processing business.

    5 hours a week although is not smart, it is doable. I guess.
     
  7. ABC
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    I have not read the book but there in no way to pull off a 4 hour work week in this industry.

    Now if you have built your agency up to about 100 employees then maybe but to build to that point takes more than 4 hours a week.

    I have built my business up enough to where I can take 1/2 days on Fridays.
     
    ABC, Jul 7, 2008
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  8. Guest
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    I totally agree, I think this is a marketing tool to sell his books. And if you looked at his site, I doubt even he only works 4 hours a week to keep the site up and a blog, etc, etc.

    I was saying it's possible, just not likely.

    The most successful people I know are those that work smart and hard. They enjoy their money but are diligent in their work ethic.

    One thing I've learned is that I never take advice from someone less successful than I am, because who cares what you're doing if it doesn't even work for you?

    :yes:


     
    Guest, Jul 7, 2008
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  9. Crabcake Johnny
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    I can only imagine that the only people who get turned on by the notion of making money working 4 hours are lazy losers.

    Ask Bill Gates or Donald Trump if they work 4 hours a week.
     
  10. Frank Stastny
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    Frank Stastny Guru

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    Peter,

    Please understand that this is not directed at just you but to all agents who are spending/wasting their time looking for an easy way to be successful in this business.

    It does not exist! It doesn't matter who's book you read or what sales system you purchase.

    What does work, is extreme product knowledge, learning how to most effectively prospect, and spending a lot of hours of hard work.

    If agents, especially relatively new agents, would spend their time doing those things instead of wasting hours/days searching for an "easy" way to do it they just might be as successful as many of the agents on this board.

    The really successful ones got that way by a lot of hours of hard work when they first got started and with most of them, learning how to do their own prospecting. Then and usually only then can they "kick back" and take some time off or maybe get by with working only 25 to 35 hours a week. I'm talking years to get to that point, not months.
     
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