Ive decided on Health

[Crabcake Johnny]

Not saying it can't be done.

What I am saying, is that you give yourself a greater margin for error, and much higher odds of success, and a greater chance of conserving your capital if you dry off behind the ears first.

So let's put the theory to the test.

Let's ask any of the ten plus year veterans on this board. I'm not talkin' about a year or two of quick success, I'm talkin' guys who have found a way to last in the business.

Did you start independent?

Do you know someone who did that has been able to last (10+ years) by starting independent from dead scratch?

Gotcha - and I agree to an extent. Just coming out of licensing and going right into being independent would be tough - not impossible. However, for my association, over 90% of all members have been in the field for at least a year - some longer. I don't have too many members who are fresh out of licensing.

That being said, it's up to them, if they contact me, where they want to start.

 

[Crabcake Johnny]

Hey, I want to apologize to Bob. I don't want it to be like last year when I upset him and he ran off the board.

 

[Dave020]

Not saying it can't be done.

What I am saying, is that you give yourself a greater margin for error, and much higher odds of success, and a greater chance of conserving your capital if you dry off behind the ears first.

So let's put the theory to the test.

Let's ask any of the ten plus year veterans on this board. I'm not talkin' about a year or two of quick success, I'm talkin' guys who have found a way to last in the business.

Did you start independent?

Do you know someone who did that has been able to last (10+ years) by starting independent from dead scratch?

Started captive in 1995. When I made the switch to health insurance about 9 years ago, I started independent, used whatever resources were available to me, studied the product nuts and bolts, slowly added carriers to the mix once I got comfortable with one portfolio, and have not looked back.

Truthfully, this forum, associations, GAs/FMOs, RSMs and carrier reps, all offer a ton more interaction and information than what was available ten years ago. I will also say that starting captive actually retarded my progress and it was not until I broke free as independent and switched to health insurance that I really had some success. I know a lot of captive houses at least in CA (esp. if you are securities licensed) lead new agents to believe that the agency owns their right to sell. A lot of new agents don't realize that they own their own insurance license, not the captive agency (because you have to park 6 & 63/66 somewhere).

Classic example, when I was with Waddell & Reed in the mid 90's, I got a stern talking to for ordering Secure Horizons materials for a client. "If you sell that product I will terminate your contract".

 

[somarco]

When I left the corporate world in 1993 I knew the only real place for me was independent. I starved for 10 months but it was worth it. Had several offers to front me money for a piece of the action.

I had the good sense to decline.

Took me 15 months to build from scratch into $10k+ per month in as earned commissions. Rode that hard until it crashed (very long story). By then I was tired of the business, left for a few years then got back in less than 4 yrs ago.

Complete change of game plan. I no longer work off overrides nor do I rely on the production of others to pay my bills. It took a bit longer than expected to get where I needed to be but again, it was worth it. I don't owe anyone.

That includes single mom telemarketers or the IRS.

If you want advances and subsidies just understand there are no free rides. If you make it all will eventually wash out. If you don't you will owe someone something and they will come after you.

You can build a business for someone else or you can build it for yourself. You get to choose.

Any knucklehead can earn a living, or at least say they are earning a living so you don't have to be the sharpest knife in the drawer to make it. But the handful of folks who do make it long term do so by putting their client first.

Only time will tell if this is a stopover for you or something that eventually becomes a career. There is good money to be made (and will continue to be made regardless of who is in the White House) for those who do right by their clients.

You have (apparently) been successful before and there is no reason why you cannot repeat. For whatever reason you have some credit issues that are throwing up obstacles along the way. If this is what you really want it will happen.

 

[Dave020]

Moon, love the avatar. I may be the only other on the forum who can say I have been to that establishment in Tampa.

 

[Crabcake Johnny]

It's odd for any of us to tell people how they will succeed or fail. It's up to the individual. Tools are now available to the independent agent that even as short as 3 years ago were not available making it much easier for agents to go independent.

I personally am a "work for yourself" fan. I see little value in parking yourself behind a desk and having managers tell you what to do for some draw or small salary.

If you mentally or financially need a salary it doesn't matter. You can spend 5 years in a shop and fall flat on your face as an independent. Becoming dependent on base pay is not the right way to launch into commission.

I think inner drive makes up most of your success. If you have a lot of inner drive you likely won't be happy on a draw or salary.

And if you're with the wrong outfit it can actually stagnate your career - not help build it.