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Making Money In These Hard Times
- Thread starter Nttwrkz LLC
- Start date
- 944
Like Frank, I also work in the Senior Market, and have not noticed a hard time...
Only hard time I see is people losing money in stocks that want to switch to some annuities...
I love hard times
Only hard time I see is people losing money in stocks that want to switch to some annuities...
I love hard times
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Guest
Guest
Like Frank, I also work in the Senior Market, and have not noticed a hard time...
Only hard time I see is people losing money in stocks that want to switch to some annuities...
I love hard times
Another good point homeboy!
- Thread starter
- #14
Nttwrkz LLC
Expert
I think you all are right, thanks for the comments.
Last edited:
- 1,432
My lead generation business has tapered off a bit this year. Fewer people are requesting quotes on my websites so I have fewer leads to sell. I've developed additional websites (https://medicare-supplement-quotes.com, https://best-health-insurance-quote.com and a couple of others) and have added more lines of insurance, but this year won't be as good as last year.
However my son and I have a two-man agency that focuses on health insurance. We have more control with this business. We have sold about twice as much when compared to the same time last year.
The business is out there. If you have the capital and good ideas, it is a good time to be expansive. Your competitors are running scared and expanding now will position you well for the next up part of the cycle.
Also you will naturally want to spend less during hard times. This can help or hurt you. If you are smart about it and spend less on things that don't give you a good ROI, this will also improve your position for the good times.
If you reduce your spending the way a government does - by reducing spending across the board by an arbitrary percentage - you will hurt yourself in the long run.
Look for the best places to invest your time and money. You can put more money into your business during hard times if you are selective and pay attention to ROI.
This applies whether or not you invest money into your career. If you are "just" a salesperson figure out where you get the most return on your efforts. What lines of insurance? What demographic segments (ages or income brackets) do you do best with?
Focus your extra efforts where you can get the best ROI and you can grow your business and bank account in hard times.
However my son and I have a two-man agency that focuses on health insurance. We have more control with this business. We have sold about twice as much when compared to the same time last year.
The business is out there. If you have the capital and good ideas, it is a good time to be expansive. Your competitors are running scared and expanding now will position you well for the next up part of the cycle.
Also you will naturally want to spend less during hard times. This can help or hurt you. If you are smart about it and spend less on things that don't give you a good ROI, this will also improve your position for the good times.
If you reduce your spending the way a government does - by reducing spending across the board by an arbitrary percentage - you will hurt yourself in the long run.
Look for the best places to invest your time and money. You can put more money into your business during hard times if you are selective and pay attention to ROI.
This applies whether or not you invest money into your career. If you are "just" a salesperson figure out where you get the most return on your efforts. What lines of insurance? What demographic segments (ages or income brackets) do you do best with?
Focus your extra efforts where you can get the best ROI and you can grow your business and bank account in hard times.
I've found going back and nurturing my current clients has been helpful. Over the past two yeas I've sent my best clients a monthly letter that is NOT about insurance.
It is about human interest, good facts and fun figures, and a section where I speak to them directly. It is my personal letter to them. I don't mention anything about annuities or insurance products, which allows me to send the newsletter without problems from insurance carriers...
It is my way of touching base with them...during this hard time.
I am still getting tons of referrals from it every month. And also use it as a lead generation tool.
Sure, focus on lead generation, but make sure you are nurturing current clients with a good monthly newsletter.
Zach...
It is about human interest, good facts and fun figures, and a section where I speak to them directly. It is my personal letter to them. I don't mention anything about annuities or insurance products, which allows me to send the newsletter without problems from insurance carriers...
It is my way of touching base with them...during this hard time.
I am still getting tons of referrals from it every month. And also use it as a lead generation tool.
Sure, focus on lead generation, but make sure you are nurturing current clients with a good monthly newsletter.
Zach...
- 1,432
Yep!
I grew up watching Darrin Stevens on Bewitched winning advertising clients for his agency by coming up some inspired idea. Something funny and/or magical would happen that would trigger a fully formed concept and he would have an advertising campaign that would run rings around the competition.
That ain't the way it works!
Inspiration isn't a bad way to get you started. In fact, I wake up with ideas for new projects all the time.
But if you don't know how to test and adjust, test and adjust, test and adjust... you will watch your competitors run laps around you.
They may not be smarter than you, but they have learned how to determine what parts of their business are most and least profitable and to shift their investments of time and money appropriately.
One last piece of advice:
You are a business owner regardless of your title. Manage your career the way a good business owner runs his or her business.
Samantha (Liz Montgomery) was a babe . . .[/quote
AMEN !!!
