Ninety-Two Percent of All Agents Fail - Why?

[Glad2bHere]

I took a few days off and came back here and can't believe Bruce is still posting this. Yes, Bruce, thare are some bad managers out there who do not do anything for you and take all your business, especially after you leave. Yes, it happens, you are 100% correct. But, you have to move on, posting it over and over does nothing. We know it. Newbies learn it really quickly. I appreciate a few posts here and there to warn newbies, but obsessing on it does you no good. There are also some good organizations out there, and you can always go indy and sleep in the bed you made. Your choice. I personally have had tons of bad experiences, I learned quickly about not complaining on this forum about it. It is what it is.

Welcome back......

Since I've just about turned this subject every way but loose, lets take the next step then.

What if I am one of the 92% but have no interest in remaining in that category? Lets suppose.....just for the sake of arguement.....that I have the required work ethic to succeed. According to what I am hearing that ought to be sufficient to succeed, right?

Having been blind-sided twice (IMHO) by a couple of major players in the Insurance industry how do I position myself as a captive agent with a major player without getting banged around for yet a third time? Thoughts?

Best Wishes,

Bruce

 

[rousemark]

Welcome back......

Since I've just about turned this subject every way but loose, lets take the next step then.

What if I am one of the 92% but have no interest in remaining in that category? Lets suppose.....just for the sake of arguement.....that I have the required work ethic to succeed. According to what I am hearing that ought to be sufficient to succeed, right?

Having been blind-sided twice (IMHO) by a couple of major players in the Insurance industry how do I position myself as a captive agent with a major player without getting banged around for yet a third time? Thoughts?

Best Wishes,

Bruce

Why do you want to be a captive agent. You are never satisfied with your management team. Go independent and be responsible for yourself.

 

[DHK]

You need to get your head on straight first.

Companies are NOTHING.

Products mean NOTHING.

It doesn't matter.

What does matter to you?
- You need training!
- You need a mentor who has mastered the training process.
- You need a manager who is as selective about hiring someone as you are in joining that company.

Here's a tip: Any recruiter that is 'stroking your ego' and telling you how great their firm is... probably doesn't know how to train you.

Over four years ago, I showed up at my local MassMutual office with a current license, series 7, series 66 and 2 financial planning designations. Yet, they weren't the firm for me. I finally discovered that they weren't selective enough to ensure that I would've been a good fit.

Now, once you have the right 'captive outfit', you need to be trained FIRST so you have a clear direction and method to focus your hard work.

No skilled training = failure.

How do you find this 'magic mentor'? You must search them out.
- Job fairs
- NAIFA networking meetings
- Others in your industry locally
- Travel as needed to meet others in other locations

I feel quite fortunate to be where I am today. Looking back, I used to live over 100 miles from this office. If I would have known that this manager existed and trained as he did, I should've picked up the family and moved back then.

If you are serious about being successful in THIS business... you have to pay the price. I've been struggling for over 4 years and now I have a clear direction and method to excel in this profession.

It took John Savage over 9 years to qualify for MDRT membership. "All you have to do to make it is... last."

 

[moonlightandmargaritas]

Lets suppose.....just for the sake of arguement.....that I have the required work ethic to succeed. According to what I am hearing that ought to be sufficient to succeed, right?

Wrong. While hard work is necessary, by itself it's not enough.

Having been blind-sided twice (IMHO) by a couple of major players in the Insurance industry how do I position myself as a captive agent with a major player without getting banged around for yet a third time?

What's that saying? "Fool me once, shame on you. Fool me twice, shame on me." It's not for you. Move on. You seem more suited to some kind of a government job...

 

[xrac]

.......You seem more suited to some kind of a government job...

Based upon the posts I have read I would concur with M&M.

 

[padthaiforlunch]

...but have no interest in remaining in that category? Lets suppose.....just for the sake of arguement.....that I have the required work ethic to succeed. According to what I am hearing that ought to be sufficient to succeed, right?

....
Best Wishes,

Bruce

No Bruce, work ethic is only a small fraction of what's needed. You must want to be in business for yourself. This is an entrepreneurial business. You need to stop thinking like an employee.

 

[Norwayguy]

I'll disagree what's great about this business is you can change what you do tomorrow as you are not stuck forever with past mistakes. If you go captive again and want to get support book a solid week of appointments and then ask the manager/mentor for help if they don't help you go on the appointments and ask a lot of questions listen to the responses and ask for the sale.

 

[DecisionMan]

Welcome back......

Having been blind-sided twice (IMHO) by a couple of major players in the Insurance industry how do I position myself as a captive agent with a major player without getting banged around for yet a third time? Thoughts?

Bruce, obviously you have some fight and resilience in your since you’ve stuck around this forum and have endured the abuse that in many ways you may deserve.

May I ask, how is it you can take the rejection and criticism from forum members but you have a hard time taking the incompetence of your managers and captive company, and perhaps have a difficult time taking rejection from prospects and clients?

If you’ve read enough within these forums you’ve seen how many of us have been greatly disappointed by what ‘should have been’ from our managers and big-name companies.

Even if you do succeed you'll be amazed at the errors from your wholesalers, stupid issues in underwriting, lack of follow-through from advanced-markets people at your carriers.

This business is far from perfect.

My suggestion is simply this: take your frustration and anger and focus it on being the most productive prospecting agent in your office – regardless of all the issues and drama and problems – get a book of business up and running through which you’ll learn the business, then leave and go independent once you know enough.

Prove yourself better than the people you’re working with by proving yourself in production. Production talks in this business, and it starts with prospecting anyone and everyone which leads to face-to-face appointments which leads to sales, underwriting frustrations, cancellations, placements, and a real good income.

And if you do this, and if you prove yourself better, don't expect any awards or accolades. Just keep your success to yourself and pay it forward by helping others in this forum.

Most of the big producers I know are humble, don't seek the limelight, stay anonymous, and love what they do.

Quit complaining and focus on doing the right things inspite of all you’ve mentioned.

 

[rousemark]

May I ask, how is it you can take the rejection and criticism from forum members but you have a hard time taking the incompetence of your managers and captive company.

Not sure that is a fair shot to assume the managers are incompetent based on what Bruce has said. You have only heard his side of the story and his story is the same everywhere he goes. I really don't think the managers at NYL and Farmers were all incompetent. It certainly appears the problem lies elsewhere.

As far as the company being incompetent, captive life isn't for everyone but NYL has many, many successful agents. After all, the King of Agents, Ben Feldman was a NYL agent. That didn't happen by the company being incompetent.

 

[DecisionMan]

My point is to illustrate that whatever problems he has at his agency with the agency, firm, or manager - either real or imagined – are ultimately irrelevant to his success in our industry.

Of course there are fine companies and managers in this industry; I was not indicting them.