juststarting
New Member
- 1
I am currently working in the mortgage industry, and have been for going on 2 years. The first year I received internet generated leads provided primarily by my employer. After the first year I decided I wanted to get out of the rat race, switch companies and start a referral based business. I grossly underestimated the amount of work this would take (although the current market environment didn't help), and currently find myself on the brink of financial ruin for a variety of reasons.
At this time I am contemplating switching industries for a variety of reasons, but primarily because I am at the mercy of others to provide my income. I am receiving a decent number of leads but unfortunately many are unmotivated, or waiting to see how things work out in the market which is killing me. From the outside looking in I think I might have a better chance of making it in the insurance world because it's a product that everyone needs, all the time. As a result I could much more easily generate my own leads since literally everyone is a potential source of business RIGHT NOW. Now, I will be the first to admit that things are not always as they seem, and I am sure it is much harder than it appears. With that being said I know many agents who have no personality or drive whatsoever and seem to be doing fine.
I am married with a son and the sole income earner at this time. Right now I am 100% commission, and mortgage is pretty much all or nothing. If you have a few deals close you are doing great, if you don't your in the poor house. So if you have any recommendations given my situation I would appreciate it. I have what could be considered a VERY shoestring budget for getting my business off the ground. I would need to be pressing the flesh from the beginning until I got some residuals coming in before I could probably afford to reinvest any significant amount toward BD. I would be leaning toward P&C but that is probably because that is what seems the most familiar.
Big companies in my area are State Farm, AmFam, Allstate, Farmers and that's about it. Do any of them allow you to start with them when you have no assets to get rolling or would it need to be an independent? Whether it is advice about coming from the mortgage world to insurance, about starting a successful business from day one, common pitfalls, marketing with no budget etc. I would appreciate any suggestions you can offer. Sorry for the lengthy post, I appreciate any advice you can give...
At this time I am contemplating switching industries for a variety of reasons, but primarily because I am at the mercy of others to provide my income. I am receiving a decent number of leads but unfortunately many are unmotivated, or waiting to see how things work out in the market which is killing me. From the outside looking in I think I might have a better chance of making it in the insurance world because it's a product that everyone needs, all the time. As a result I could much more easily generate my own leads since literally everyone is a potential source of business RIGHT NOW. Now, I will be the first to admit that things are not always as they seem, and I am sure it is much harder than it appears. With that being said I know many agents who have no personality or drive whatsoever and seem to be doing fine.
I am married with a son and the sole income earner at this time. Right now I am 100% commission, and mortgage is pretty much all or nothing. If you have a few deals close you are doing great, if you don't your in the poor house. So if you have any recommendations given my situation I would appreciate it. I have what could be considered a VERY shoestring budget for getting my business off the ground. I would need to be pressing the flesh from the beginning until I got some residuals coming in before I could probably afford to reinvest any significant amount toward BD. I would be leaning toward P&C but that is probably because that is what seems the most familiar.
Big companies in my area are State Farm, AmFam, Allstate, Farmers and that's about it. Do any of them allow you to start with them when you have no assets to get rolling or would it need to be an independent? Whether it is advice about coming from the mortgage world to insurance, about starting a successful business from day one, common pitfalls, marketing with no budget etc. I would appreciate any suggestions you can offer. Sorry for the lengthy post, I appreciate any advice you can give...
