I'm a newbie but "favorable front of the mind awareness" sounds like a lot of crap to me. Sorry to offend. Lots of great advice on this forum but I think I'll listen to the members who tell us to "work hard, stay focused, cold calling is hard but valuable, and keep with it. New to the insurance field but not to sales. nothing replaces hard work. Work harder, not smarter when you start.
Ninety-Two Percent of All Agents Fail - Why?
- Thread starter JacquesWerth
- Start date
- 25,990
fcorcoran
Expert
You have to put in long hours and yes work hard. Totally agree. Thats why not many make it. Its hard work.
Glad2bHere
Expert
- 94
I don't want to offend anyone, so I am not going to tell several people here that they are full of beans. That would be offensive right? So my intention is not to start out telling several people here that they are full of beans.
What I will do is report what I have observed the last few months and I will start out by stating that I know of no activity in Human experience where the washout rate is over 90%. US Navy SEAL-S aguably have one of the most gruelling programs known to training of any kind and THEY don't have a 90% washout rate. ERGO: What gives? I hear people saying that folks don't want to work hard or don't want to put in the time. Frankly, thats NOT what I see. Let me tick these off one at a time.
1.) To make money you have to HAVE money. Folks are talking about having savings to tied one over during the bad times but that is not the whole of it. There is a huge range of expenses that the individual has to cover from the beginning that the Insurance Company does not help-out with. There is also the advantage of having wealthy parents or an understanding spouse to support the individual during the first years. And don't even get me started on how nice it is to have ties in a well-heeled community where everybody knows your name----and your well-connected parents.
2.) And lets talk about that training. Just how much training goes on and who is doing it? Is the person at the front of the class even passing familiar with the subject. And if that particular individual knows what he is talking about how about the guy who teaches the next class?
3.) And while we are at it how about talking about just how much the company cares if a person succeeds. If the managers or principals took a financial hit each time someone washed-out I can bet they would be a lot more involved in a person's success. For myself I started with NYL over a month ago. So far I experienced my contract being delayed, no Business cards, no brochures, no product training. What I HAVE gotten is a lot of hammering about disclosing my "warm market" and setting-up appointments that my mentor and manager can "co-pilot" with me.
My point? My point is that I would defy any person here to tell me that I am afraid to work hard, or that I have not been busting my butt since day one. I am about a half-step away from writing off the Insurance industry as a huge employment scam that exploits the unemployed with rose-colored images of big salaries. This work does not have to be this hard but it seems to me that there is a vested interest on the part of the companies and their minions to, if not MAKE things difficult, then at least do little to relieve the difficulty there is.
Best Wishes,
Bruce
What I will do is report what I have observed the last few months and I will start out by stating that I know of no activity in Human experience where the washout rate is over 90%. US Navy SEAL-S aguably have one of the most gruelling programs known to training of any kind and THEY don't have a 90% washout rate. ERGO: What gives? I hear people saying that folks don't want to work hard or don't want to put in the time. Frankly, thats NOT what I see. Let me tick these off one at a time.
1.) To make money you have to HAVE money. Folks are talking about having savings to tied one over during the bad times but that is not the whole of it. There is a huge range of expenses that the individual has to cover from the beginning that the Insurance Company does not help-out with. There is also the advantage of having wealthy parents or an understanding spouse to support the individual during the first years. And don't even get me started on how nice it is to have ties in a well-heeled community where everybody knows your name----and your well-connected parents.
2.) And lets talk about that training. Just how much training goes on and who is doing it? Is the person at the front of the class even passing familiar with the subject. And if that particular individual knows what he is talking about how about the guy who teaches the next class?
3.) And while we are at it how about talking about just how much the company cares if a person succeeds. If the managers or principals took a financial hit each time someone washed-out I can bet they would be a lot more involved in a person's success. For myself I started with NYL over a month ago. So far I experienced my contract being delayed, no Business cards, no brochures, no product training. What I HAVE gotten is a lot of hammering about disclosing my "warm market" and setting-up appointments that my mentor and manager can "co-pilot" with me.
My point? My point is that I would defy any person here to tell me that I am afraid to work hard, or that I have not been busting my butt since day one. I am about a half-step away from writing off the Insurance industry as a huge employment scam that exploits the unemployed with rose-colored images of big salaries. This work does not have to be this hard but it seems to me that there is a vested interest on the part of the companies and their minions to, if not MAKE things difficult, then at least do little to relieve the difficulty there is.
Best Wishes,
Bruce
Bruce,
Sounds like you're in a shop that simply isn't very good. Don't write off an *entire* industry due to a bad manager or bad GM. You might want to look around at other companies and interview them to see where you want to work. The interview process is as much about you liking them as them liking you.
And the success rate is true (although I've always heard that it's about a 10% success rate after 4 years) and that's due to so many people trying this career and treating it like a job - to which it isn't. You are starting a business when you get into this career and successful agents treat it as such.
On another thread someone posted a video from 1948 on what a successful Pru agent does on a daily basis. And guess what? Ain't nothing different today. It's all about prospecting - always and in-all-ways.
Sounds like you're in a shop that simply isn't very good. Don't write off an *entire* industry due to a bad manager or bad GM. You might want to look around at other companies and interview them to see where you want to work. The interview process is as much about you liking them as them liking you.
And the success rate is true (although I've always heard that it's about a 10% success rate after 4 years) and that's due to so many people trying this career and treating it like a job - to which it isn't. You are starting a business when you get into this career and successful agents treat it as such.
On another thread someone posted a video from 1948 on what a successful Pru agent does on a daily basis. And guess what? Ain't nothing different today. It's all about prospecting - always and in-all-ways.
Glad2bHere
Expert
- 94
Thanks, Kenno.... I think that is the one place I keep getting stuck.
In all possible honesty, I have NO problem building a business and having to do it all myself----from the ground up. I mean this sincerely. Where I keep running into crap is having OTHER people tell me what I can and cannot do. Heres some examples.
1.) I do a LOT of Cold Calling and people ask for information. What response do I get? "Its a waste of time". "You have to go through compliance." Its just a put-off." What I DON'T get is: "Here's the way thats done". "Here is a selection of brochures we use." "Here's how you may want to follow-up."
2.) I can make an appointment but I have no education in the NYL products and I am not suppose to be going on appts solo until the guys above me say so. Now, they are not altogether sure when that will happen but until then I still have to sweat under the threat of not having $1500 fyc and four Life Apps in order to be a "real" agent.
3.) "Compliance" is a real big issue....or should I say "excuse". It seems to be the number one reason for why people don't do ANYTHING. Remember this company has been around for over 165 years and I am suppose to be putting together a business of my own. Am I expected to believe that in 165 years this company has not figured out a "complant way" to reconcile business practices and agent support beyond the micro-management level?
Best Wishes,
Bruce
In all possible honesty, I have NO problem building a business and having to do it all myself----from the ground up. I mean this sincerely. Where I keep running into crap is having OTHER people tell me what I can and cannot do. Heres some examples.
1.) I do a LOT of Cold Calling and people ask for information. What response do I get? "Its a waste of time". "You have to go through compliance." Its just a put-off." What I DON'T get is: "Here's the way thats done". "Here is a selection of brochures we use." "Here's how you may want to follow-up."
2.) I can make an appointment but I have no education in the NYL products and I am not suppose to be going on appts solo until the guys above me say so. Now, they are not altogether sure when that will happen but until then I still have to sweat under the threat of not having $1500 fyc and four Life Apps in order to be a "real" agent.
3.) "Compliance" is a real big issue....or should I say "excuse". It seems to be the number one reason for why people don't do ANYTHING. Remember this company has been around for over 165 years and I am suppose to be putting together a business of my own. Am I expected to believe that in 165 years this company has not figured out a "complant way" to reconcile business practices and agent support beyond the micro-management level?
Best Wishes,
Bruce
G
Guest
Guest
WOW, this WAS an old thread til yesterday.......
Appstacker
Expert
- 20
Very well said Markingriffin. If only agents would take time to really learn their product, business and have great work ethic agents would make it. 
- 9,744
They're telling you the truth. 99.9% of the time, people asking for info are trying to get you off the phone. It's a "polite" no. There's no comp on "education". Sell today, educate tomorrow.
The business is maybe 2% product knowledge - at best. It's not complicated - you pay a premium, and when your death occurs the bene gets the money. Not many moving parts in life insurance!
Bruce, I've seen a lot of folks come and go in my twenty-one years in the business. I don't think it's for you. Better to not waste more time.
Similar threads
Latest posts
-
Trump still doesn't have a plan to replace Obamacare
- Latest: straightnochaser
-
-
-
ANTHEM STOPPING TELESALES FOR MEDICARE ADVANTAGE ACROSS US
- Latest: straightnochaser
-