Making Money In These Hard Times

Jul 10, 2008

  1. Nttwrkz LLC
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    Nttwrkz LLC Expert

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    Hey everyone,

    I was wondering has it been hard for any of you agents to make money in these hard times? If so, how have you all gotten by?
    If you have been doing just fine, what's the secret? I've been running into a lot of people who just don't want to spend any more money these days.
    Most people are satisfied with their employer insurance.
    I guess my question is are we in the wrong profession at the wrong time?

    Nttwrkz1
     
  2. somarco
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    somarco That Medicare Expert Guy

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    I probably talk to as many people as the next agent who always have an excuse for not buying. So what? Move on.

    There are 3 things you can do to improve your odds.

    Talk to more people.

    Talk to better prospects.

    Improve your game.
     
    somarco, Jul 10, 2008
    #2
  3. Crabcake Johnny
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    Crabcake Johnny Guru

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    I rarely sell to people who currently don't have coverage unless they recently lost it due to moving to another job. Most of my business is lowering existing rates and I'm doing quite well.
     
  4. Frank Stastny
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    Frank Stastny Guru

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    I work in the senior market. There has never been a time in the last fifteen years when the economy has had an impact on my business.

    To take that one step further, most agents don't think that December is a good month for insurance sales. Traditionally December has always been one of my best months of the year.

    As John said, do what you do better and more often. The more you put into it the more you will get back.

    Like John, I very seldom sell to people who don't already have a Med Supp policy. The bulk of my business is also lowering existing rates. I do quite well at that also.
     
    Last edited: Jul 10, 2008
  5. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Yes, it is harder. But a lot of little things can offset that.

    Work a little harder

    Be a bit more creative

    Spend a bit more if it means making a bit more

    Etc...


    Similar to our dependence on Middle Eastern Oil. The best way to attack that problem is a combination of 4-5 things...not just one thing.
     
  6. ims01
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    ims01 Guru

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    What hard times? Hard times are between your ears. For us, February was the only month this year that has not exceeded last years numbers.
     
    ims01, Jul 10, 2008
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  7. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    As Zig Ziglar so famously put it, "it's stinkin' thinkin'."
     
  8. Frank Stastny
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    Frank Stastny Guru

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    Or an excuse for being lazy.
     
  9. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    As Seth Godin says, "there's never been a time of greater opportunity."
     
  10. insuremojo
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    insuremojo Super Genius

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    Whenever business starts to slow down you need to talk to more people.

    It really is that simple, you probably just need to talk to more people.

    Start banging away on the phones to find qualified candidates.

    Walk into more business and ask questions.

    Buy more internet leads.

    Get involved in local chambers of commerce and ask for referrals.

    Anything to keep you busy and you'll see that when this business slows down it's usually from a lack of prospecting.

    Maybe if you're not competetive you need to add a couple of more companies to offer. Right now after big rate increases from HealthNet I'm moving a big block of business over to ABX and Aetna and getting 1st year comp again! I just added Kaiser to my portfolio to keep all of my clients happy.

    Hopefully that helps you a little.

    Good luck and happy hunting!
     
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