Passed My State Insurance Exam

[wfs]

I passed my life and health state exam today, just in time! My goal was to get this done by the end of 2008.

Now it's time to get all of my ducks in a row for the new year and shine!

My initial battle plan is as follows:

1) Get my appointments with my primary carriers, E&O insurance
2) Get licensed in 5 states - PA (my home state), NV, CA, NJ and TX.
3) Work from internet leads for life insurance
4) Build a local practice through my contacts

I have a well-paying full-time gig (I am an IT consultant for a major pharma company) so replacing that income first year will be incredibly difficult, so...

I will "work for free" for my first year at a minimum. What I mean by that is that I will save all (or most) of the money that I can make. I realistically believe that I can make at least $50k in 2009, but we shall see... That will be a challenge, but as a person who used to be in the biz (9 yrs+ ago), I know exactly what I am getting into.

Initially, I am prepared to invest $2k per month in exclusive leads. Hopefully that will be enough to jump start my sales.

I'd love to hear any advice or words of wisdom.

Thanks and happy new year!

 

[xrac]

Re: Passed My State Exam

Congratulations! Sounds liked you have things well thought out and are prepared. Work your plan and it is a recipe for success.

 

[Mark]

Re: Passed My State Exam

Congrads. Way to go!!!

 

[wfs]

Re: Passed My State Exam

Thanks. This business is the only thing that I've ever been passionate about and I am anxious to get started!

 

[GreenSky]

You might think about making your first investment into insurance sales training before you waste money on leads. You'll likely spend a great deal more learning to sell on your own than by paying someone to teach you.

Rick

 

[SportsNut]

Congrats wfs... You met your goal by years end.

You sound as if you have good aspirations, and somewhat of a plan. Just curious as to what approach you will take when working leads, what plans you intend on offering, and so on...? As mentioned, the learning curve could be expensive.

It seems with the right approach, and your aspirations, you should do well and even exceed your expectations. Wish you all the best on the journey...

 

[Gunny]

You might think about making your first investment into insurance sales training before you waste money on leads. You'll likely spend a great deal more learning to sell on your own than by paying someone to teach you.

Rick

wfs, this is a great recommendation. I am a semi-retired CIO. I have been in IT for 30 years. The draw back to that is we think logically, where insurance is more emotional. My plan is simular to yours, except I am strictly in Ca. However, I find that most mornings I need to spend 1-2 hours just reading on sales in order to develop that skill set.

P.S. My 2 favorites are Gitomer's, "Sales Bible" and Rackham's "SPIN Selling"

Just my 2 cents worth

 

[KConway]

Congratulations wfs.

Work your plan and I'm sure you will exceed all expectations.

To A Successful '09!!!


Happy New Year

 

[wfs]

Congrats wfs... You met your goal by years end.

You sound as if you have good aspirations, and somewhat of a plan. Just curious as to what approach you will take when working leads, what plans you intend on offering, and so on...? As mentioned, the learning curve could be expensive.

It seems with the right approach, and your aspirations, you should do well and even exceed your expectations. Wish you all the best on the journey...

To be quite honest, I've never worked "leads" before, except from referrals from my clients. In my previous insurance life, I worked my warm market, got referrals, called them and so on... 10 years ago, I would have NEVER thought of purchasing leads, but I suppose with the internet, things are a little different.

I hesitate to say that my business will be built 100% on purchased leads. But I am going to march forward with it - but I think that I need to go back to basics with my warm market as well.

I know that I want to concentrate on term sales - level term, possibly mortgage term and simplified issue term. Now that I am re-licensed (it's official today), I need to review some of these products and figure out my exact plan. I am a little nervous. I want to make the right choices. I'm not nervous about actually "selling" whatsoever... I want to find my niche and focus on that.
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wfs, this is a great recommendation. I am a semi-retired CIO. I have been in IT for 30 years. The draw back to that is we think logically, where insurance is more emotional. My plan is simular to yours, except I am strictly in Ca. However, I find that most mornings I need to spend 1-2 hours just reading on sales in order to develop that skill set.

P.S. My 2 favorites are Gitomer's, "Sales Bible" and Rackham's "SPIN Selling"

Just my 2 cents worth

I mostly agree. I don't know if I really need "sales training" per se... I have years experience with that. Certainly I need a bit of product training. What I know I need is getting back into the "sales mindset". Since I have been out of sales for a while, I know how crucial this mindset and discipline is.

With that said... A good salesman is always learning, so it would be naive for me to say that I do not need sales training at all. I suppose I do. Should I dust off that old copy of Tom Hopkins "How to Master the Art of Selling"?
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Congratulations wfs.

Work your plan and I'm sure you will exceed all expectations.

To A Successful '09!!!


Happy New Year

Thank you!

 

[insuranceexec]

Congratulations! Best of luck to you in the new year.