New to the business

Aug 14, 2007

  1. michaelvega
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    michaelvega New Member

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    I am new to the business and just started with Bankers Life & Casualty in Warren, OH. Management is great, I was in training last week from Monday to Thursday taught by a veteran agent which covered Prospecting, Warming Up, Fact Finding, Presenting and Closing I have also been training on there web based Bankers Learning Network and every Tuesday from 3 to 5 we have class in the office on new and existing products. I understand that in order to make it in the business the first year is critical which can make or break you. On Tuesdays and Fridays we are in the office cold calling using Gryphon and I am assuming the leads I am getting are from that system? My first day was last Friday and I set up 8 appointments which I went out with a field trainer (we split commisions). 5 of them were on Monday, we wrote one small life policy, 1 was on her way out the door, 1 I had the address wrong and the other two were hopeless. Until I build a clientele and begin to get refferals is this typically how it works (cold calling)? I have read that it takes a few years before you start to make good money (100k), is that realistic?
     
  2. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Sounds like good training. I wouldn't stay there long though. Learn s much as you can and then go independent.
     
  3. Agent5913
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    Agent5913 Expert

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    Do you have a book of business or nothing at all as far as something (leads) to work from?
     
  4. TXINSURANCE
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    TXINSURANCE Guru

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    Cold calling and driving around face to face is a rough gig - high burnout rate.

    My opinion of cold calling is pretty low.
     
  5. 007
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    007 Super Genius

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    Cold calling works assuming you have a good script and leads. Continue to absorb and learn as much as you can from your training and take this experience as boot camp. Don't waste your time with unmotivated prospects and find and meet with people who are seriously motivated to purchase. You need to cold call at least five days a week to generate some volume. I don't believe two days of calling will make the cut unless you have telepro's working for you...
     
    007, Aug 14, 2007
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  6. salpro22
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    salpro22 Guru

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    What do you recommend instead then?
     
    salpro22, Aug 14, 2007
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  7. TXINSURANCE
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    TXINSURANCE Guru

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    Go independent fast and buy leads, then you will realize the so called "experts" are really not so "expert" in most cases.
     
  8. Delta76
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    Delta76 Guru

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    There are many ways to do it. I've gained speed by cold calling 8am to 10:30am each morning, then having at least 5 set appointments and usually see at least 3 on average during the day. It works. My ultimate closing ratio for app written and coverage accepted (includes declines) is a little north of 1 in 5. Realize that even if you are awesome at this business, that in this avenue, 1 in 3 is a great closing ratio for this marketing route. The numbers work, but you can't be discouraged by the other 2 to 4 that there isn't a fit for every one sale you get. Activity is the key to success. Get the the book from National Underwriter: Building a Financial Services Clientel (One Card System).
     
    Delta76, Aug 15, 2007
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  9. Carpal Tunnel
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    Carpal Tunnel New Member

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    Ok. I did some snooping around the web. 10/3/1 (contacts/appointments/sales) seems pretty standard. I break selling styles into three groups:

    Benefit selling: Hoping to find someone who wants what you have.

    Relationship selling: Buy from me because I'm your friend.

    Consultative selling: Probe client for wants and needs, then prescribe your product service as the solution. (my style)


    All of that said, am I really going to get anything out of the one card system, other than a shoebox full of 4x6 cards?
     
  10. Delta76
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    Delta76 Guru

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    "All of that said, am I really going to get anything out of the one card system, other than a shoebox full of 4x6 cards?"

    The short answer is yes. If you don't want to look, don't get the book. It's basically a franschise system of how to run a business, structure your day, client service, ect. It's geared to face to face selling and building relationships. If that's not a fit, don't get it. I use it and it works.
     
    Delta76, Aug 16, 2007
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