Money to get started

[undeadbob]

I take my test in 2 weeks and am considering backing out. I keep hearing that you need 2k-5k in the bank to get started. Im choosing between lincoln heritage, state farm, and allstate. Thought about pma or amerilife and decided against them. Reading on here about insurance not being good if youre currently living paycheck to paycheck has me concerned because I wanted to get into insurance to get away from that. Horribly confused!

 

[DHK]

Im choosing between lincoln heritage, state farm, and allstate.

Everybody sing: "One of these three is not like the other!"

 

[texasnative]

A full-time business probably requires $50-$100k to really be successful ...but I have started numerous businesses with a *very small amount of money - part time* - and a couple have grown into businesses that have made me a ton of money. I still have one now (a diversified real estate investment business) ...and I am going to start offering insurance to customers / business associates as another revenue stream. Anyway ---- my point is too many people quit when they are so close to success. Insurance is a great business to start part-time, based on several people I have gotten to know who do it. So don't give up!!! Start part time, keep your costs low and you might do very well

 

[DHK]

Reading on here about insurance not being good if youre currently living paycheck to paycheck has me concerned because I wanted to get into insurance to get away from that. Horribly confused!

Yes, I can tell you're confused and you need clarity. The financial reserve is to help soften the blow while you're figuring this business out.

Start with this: What do you see yourself selling and what kind of prospects do you see yourself serving? In addition, what market do you have access to? How are you planning to prospect?

This video may give you some insight and clarity.

 

[undeadbob]

Lh says i can start part time but seems as if it could put me in debt. State farm and allstate offered me positions but cant decide what to do. Almost seems like you must buy your way into the business from what sone people say.

 

[undeadbob]

Are SF and allstate good for getting into the business and learning the ropes or would LH part time be bettet?

 

[Alston]

Are SF and allstate good for getting into the business and learning the ropes or would LH part time be bettet?

If you still need to keep your job... (if you're even questing it, you probably should)... start part time.

You'll be a lot happier and less stressed. Plus, you really can't sell if your client smells desperation on your breath.

Let insurance be a side-hustle until you have some experience and have a feel for what you can do in the business.

If you quit your job one month too early, you'll feel the impact for years. If you stay a month later than you should, you'll barely notice it.

If you've read a self-help book that spouts some nonsense like "Leap and the net will appear" burn it.

 

[undeadbob]

My current job is being outsourced in the next month but i totally get what youre saying. Thank you.

 

[DHK]

Unless you're joining SF or Allstate as a team member working FOR an agent... you should consider insurance as a business decision, not a job. That's one of the biggest problems and one reason why the failure rate is so high. You actually need to interview them MORE than they interview you.

 

[undeadbob]

Its is for an agent. I did well a few yrs back doing telesales for unitedhealthcare. Good point about interviews. A lot of the interviews have been teying to sell me on recruiting and i am skeptical of that.