Ninety-Two Percent of All Agents Fail - Why?

[stormtracker]

Four rules for success:

1. DON'T re-invent the wheel.
2. DO what the successful agents do-- learn from them.
3. RESPECT-- address everyone with Sir or Ma'am.
4. YOU'RE never too big to fall -- humble pie has a taste you'll never forget..

 

[mszlazak]

I would guess it comes back to the proactive vs. reactive environment theory. Most sales organizations, you are truely in sales, not running a business at the same time. You are watched closer, you have a territory of people listed for you to call, many are selling a tangible product deemed "necessary", you are in "sales", not servicing customers and doing administrative/planning work.

Not saying training has nothing to with it, I just don't think better training would make much difference in the failure rate, even if it would help some.

So what you're saying is that sales training is necessary but not enough. Better would be small business training even for a new agent working at a big company. A lot of people like:

"The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It" by Michael Gerber

 

[Frank Stastny]

So what you're saying is that sales training is necessary but not enough. Better would be small business training even for a new agent working at a big company. A lot of people like:

"The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It" by Michael Gerber

I would put sales before business training or at least equal with it. It's like which one came first, the chicken or the egg? Without the ability to make sales there won't be a business. Training to run a business really won't come into play until there is a business to run.

 

[NMFNMDRT]

Most don't have the foresight to see themselves as a successful invidividual when they go through so much adversity in the business in the first 3-5 years.

True success comes when an agent works as hard in the 15th year in the business as they did in the 1st year to stay alive.

Lack of quality management and successful peers is also something that many agents don't have in the beginning. A team atmosphere is very important for long term success. Very few people can do it all on their own.

Even on this forum where there are mostly independent agents, they still value the training and support of a captive company for the first 3 years.

I wonder what percentage of people that drop out of a captive company go on to work as an independent?

 

[Getzer928]

wow, im almost two months into my sales career and this post is a bit scary. im seeing some success and as of now i am above ground financially. I know ill be successfull but im afraid of not making the cut a month or two in a row and have to leave cause I do not have the financial reserve built up yet.

 

[mszlazak]

Lack of quality management and successful peers is also something that many agents don't have in the beginning. A team atmosphere is very important for long term success. Very few people can do it all on their own.

Hopefully social networking for new insurance agents and forums like this one will provide the added support that some are missing in the agencies.

 

[Frank Stastny]

wow, im almost two months into my sales career and this post is a bit scary. im seeing some success and as of now i am above ground financially. I know ill be successfull but im afraid of not making the cut a month or two in a row and have to leave cause I do not have the financial reserve built up yet.

Sorry if I missed it. What are you selling? When you say "make the cut" are you getting a draw and have a quota to meet?

There are a lot of us who can help but we need more information.

 

[jerry176]

Well, I found something that is probably harder than selling insurance...http://www.nytimes.com/2009/11/26/business/smallbusiness/26cupcake.html?8dpc

2800 cup cakes a month just to break even. Holy ####

Gerry

 

[Getzer928]

Sorry if I missed it. What are you selling? When you say "make the cut" are you getting a draw and have a quota to meet?

There are a lot of us who can help but we need more information.

thanks! im selling medicare supplements right now, 100% commission, and make the cut in my mind is to make enough money to pay the bills, thats just my goal for the first few months, then i will want to start making more than just the bills, right? my "quota" is set by myself

Thanks for any advice

 

[Frank Stastny]

thanks! im selling medicare supplements right now, 100% commission, and make the cut in my mind is to make enough money to pay the bills, thats just my goal for the first few months, then i will want to start making more than just the bills, right? my "quota" is set by myself

Thanks for any advice

I do it without purchasing any "leads". I generate my own. I don't go on a lot of appointments. I only schedule them when they know I'm coming to write an app and pick up a check.

I quit "dropping off valuable information" and/or "doing a Medicare Supplement review" many years ago. The way I do it I close over 95% of my appointments.

My goal has always been to write one app a day, five days a week, fifty-two weeks a year. That will generate about $75,000 in commission income. To achieve that goal I really only need one appointment a day. Many of the appointments will be with both a husband and wife. That's two apps.

The agent should carry at least 90% of that into the second year in the way of renewals and the next year do the same thing. In three or four years the agent can be making some decent money.