- Staff
- #11
Picking the Right Company
- Thread starter JaceG
- Start date
- 4,083
It’s a shame because I really do like boston market.
PrivClientSG
Guru
- 353
I am in the insurance industry 35 years. I made my bones, paid my dues, didn't hit my first goal until my 5th year in the business, hit my second in my 6th/7th year, my third right after that, and then my fourth took a bit longer, but it was a steady, progressive climb. I am very successful, in part, because I made my bones and paid my dues. I worked hard to get where I got, and then worked smart to get where I am.
That said, I get more than a dozen calls a year, from friend's or client's children, who want to come talk to me about entering this business. I did the same thing when I was a kid. Unfortunately, when one of these young people picks someone successful to talk to, often they see stars -- no matter how realistic I may paint the picture. I think less than 1% of the life insurance producers in the industry do $1mm in annual premium. I think less than a half percent earn $1mm. But if you talk to those people, absent the few who are the exception, successful people in this industry tend to know this industry. Not all, but many. I've referred young people to Mass Mutual, Guardian, Northwestern, and NY Life, and I've also referred people to independents, RIA's, wealth management firms, wire houses, private banks, and trust companies. It all depends on what the person is looking for -- marketplace, business model, culture, lifestyle, goals, objectives, aspirations, wants, personality, and so on and so on. Take any "job" that comes along, and that's a recipe for not being happy.
That said, I get more than a dozen calls a year, from friend's or client's children, who want to come talk to me about entering this business. I did the same thing when I was a kid. Unfortunately, when one of these young people picks someone successful to talk to, often they see stars -- no matter how realistic I may paint the picture. I think less than 1% of the life insurance producers in the industry do $1mm in annual premium. I think less than a half percent earn $1mm. But if you talk to those people, absent the few who are the exception, successful people in this industry tend to know this industry. Not all, but many. I've referred young people to Mass Mutual, Guardian, Northwestern, and NY Life, and I've also referred people to independents, RIA's, wealth management firms, wire houses, private banks, and trust companies. It all depends on what the person is looking for -- marketplace, business model, culture, lifestyle, goals, objectives, aspirations, wants, personality, and so on and so on. Take any "job" that comes along, and that's a recipe for not being happy.
tippingpoint
Super Genius
- 109
So what was it that accelerated your growth? Was it referrals, the market you were working in, your prospecting method, your confidence, a website, a combination of these?
- 4,083
Leads
PrivClientSG
Guru
- 353
Learning, growth, progress, etc. -- all of it is exponential. Don't ever forget...Your first million is your toughest!!! LOL. My first goal was 5 years, although I wanted to do it in 2 or 3, but I had no idea what I was doing. I was making mistakes and learning every single day! After my first goal, from a business model standpoint, looking at RGC (revenue generated per case), I simply had to either write more lives, or increase the premium per life. My business model was being built for the latter.
Yes, I got better and "finding business" and my own version of prospecting (not traditional prospecting), I saw more people, concentrated on the best candidates, and graduated from "getting referrals" to "getting meetings" and while the quality of the candidates grew, and the way I was meeting them, so did the premium per life. Everything about your business has to be exponential! Except your lapses! LOL.
- 5,460
My friends and family thought I was out of my mind, or somehow being scammed when they saw how hard I was working and how little I was making in the beginning. Now I am making a full time income working part time hours, and my book just keeps growing, but dear god, what an awful grind to get here.
One of the things that really bothers me is when new agents come on this site looking for advice, and there are people that think they are being kind compassionate and good by encouraging these inexperienced agents with *** comments like "dream big" and "you can do anything you can set your mind to". Right, like going bankrupt, lol.
- Thread starter
- #18
Kinda reminds me of how people say "Keep your chin up" or "That's all in your head" to someone who is in a clinical depression.
But yeah. I've ground away for far less for over a decade doing the startup game trying to avoid a "career". Even 2-3 years to make 160k a year for full-time work will be a sufficient baseline that I could be happy with for the rest of my life. Not that I won't shoot for more. I'm too ambitious not too... but it's much easier to shoot for the stars AFTER setting up a moonbase and continuing to colonize along the way, otherwise one may get... LoSt In SpAcE~~~~~
- Thread starter
- #19
I don't get these references on this thread...
- 11,454
Old history.
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