I agree with rousemark. How can we believe in what we are doing and not talk to friends and family. Too many of us have no passion. Now I understand not approaching close family and friends while I am green as grass but after I have my feet on the ground why not? I don't mean to pester or harass but to genuinely and sincerely offer help. If we are an agent with a company like NYL or Guardian and we sell them a policy have we done them harm or good. I say good because they have protection with a fine company.
Project 200 Question
- Thread starter JimmehBone
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I agree with rousemark. How can we believe in what we are doing and not talk to friends and family. Too many of us have no passion. Now I understand not approaching close family and friends while I am green as grass but after I have my feet on the ground why not? I don't mean to pester or harass but to genuinely and sincerely offer help. If we are an agent with a company like NYL or Guardian and we sell them a policy have we done them harm or good. I say good because they have protection with a fine company.
- 7,066
When I started I had recently moved to a new town. I didn't know a lot of people, especially people who were on Medicare. I didn't have a "warm market". It was cold as ice.
I still made it in spite of not having a "project 200". I think it made me learn to prospect and sell more effectively and a lot more quickly.
This is not a job for the faint of heart or shy individuals. It's now up to the agent. If the agent is having trouble MAC (Momma Ain't Coming).
- 9,744
Excellent post Frank, thank you for illustrating my point perfectly!
With a "demand" product like med supp, you can plug in anywhere, do some mail, calling, whatever, drum up some business - and do well.
On the other hand, an agent trying to do New York Life-type business in that scenario will starve. A list of folks that they can see on a favorable basis - and leverage, is essential.
Selling Medicare supplements, and selling the kind of life insurance sold by the NYL's of the world are very, very different animals.
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JimmehBone
Expert
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My manager made it sound like a free mailer pretty much. He said its something required by the hq as part of the hiring process. Everyone keeps talking about "how to prospect, how to get leads, ask them to teach you that"... well that's part of the reason I'm on these forums 
So wheres the advice on it? I got cold calling, cold knocking, volunteer/join an organization. How do you prospect?
So wheres the advice on it? I got cold calling, cold knocking, volunteer/join an organization. How do you prospect?- 7,066
My manager made it sound like a free mailer pretty much. He said its something required by the hq as part of the hiring process. Everyone keeps talking about "how to prospect, how to get leads, ask them to teach you that"... well that's part of the reason I'm on these forums
I have pretty much spent my insurance career cold calling for Med Supps but not before trying every other way I could think of. Including buying every kind of lead that has ever been available.
That is what has worked best for me out of everything else I have tried. It is also a lot of work.
G
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Your friends and family KNOW that you dont have a clue what you are doing yet.
Would YOU want to be a agents first 10 clients? ummm hell no.
All a project 100 does is make a leads list the the fools that follow in your footsteps....
Would YOU want to be a agents first 10 clients? ummm hell no.
All a project 100 does is make a leads list the the fools that follow in your footsteps....
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What a great point. Huge.
We've been talking about "Project 200" but we haven't really defined it. A newbie needs to understand that the 200 can be approached with the idea of telling them what you're doing and asking them to keep you in mind/make an introduction if anyone they know has a family, recent changes, etc etc. That 200 immediately becomes thousands. Leverage, baby, leverage.
In addition to helping you out, certainly some of those 200 would say, "Y'know, I could use a new policy." And you've done it in a way that didn't look like you were trying to force your way into their door.
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First let me start off by saying, that I don't actually like working with friends or family...but at the same time I have never understood this logic of it being a violation of trust. I have had three friends become uninsurable after I met with them. Two of them purchased and The other wished that they had. I have also had a friend that I had to process a claim for. All were in there 30's.
If it is a violation of trust to approach your friends about insurance, maybe you don't really believe in it and shouldn't be selling it at all.
Studies show that over 70% of families are under insured, the last people I want to fall into that statistic are my friends and family!
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project 200 isn't about marketing, it is about getting a few easy yes's to build confidence AND more importantly to learn how to prospect.
I don't cold call and I don't use mailers. I do one networking event per week, and I get referrals from clients (the first of which were friends...and still are). Then I make sure to have two to four touches per year with each client and do an annual review in person when possible.
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- Thread starter
- #29
JimmehBone
Expert
- 87
What type of networking events do you do?
You know who complains about approaching Friends, Family and natural market? Failed advisors.
If you sell something that you feel makes an impact in people's lives for the better, why would you want to skip over those whom you love and trust most?
The only reason I can see is that you don't see yourself selling with integrity or you don't believe in the product you are selling, and the benefits it provides.
As others have mentioned, if you are selling med sup, final expense, or you work for primerica, sure... but if you are working for a respectable company... why the hell not?!
Obviously they people know you are new to the business. If you position it right, there should be no excuses.
"Mom/Dad/Brother/sister/Friend... as you are aware, I have made a decision to change careers and do something I feel strongly about and that is a win win for everyone. As someone I care deeply about and respect, I would like to take an opportunity to take a moment and ask you for your help. I want to take some time to get together to see introduce you to what I do, to figure out if I can help you, and if we would be a good fit for each other. Obviously I am new to the business, and will be working with my Manager/coach throughout the process as I get acquainted in the industry. Over time, I would be doing more and more as I gain experience.
When would you have some time to get together next week for about an hour or so?"
If Yes..... Schedule time.
If No.... "thankyouverymuch, enjoy the rest of your day" and move on
How is that ruining relationships?
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Just an addendum...
From start to finish, it will take about 6 months to acquire a new client whom you do not currently know and get paid on it. If you do not approach your natural market... How the F are you supposed to survive?
think of it this way... who are you going to piss off more? Cold calling people or asking someone politely for some time?
If you sell something that you feel makes an impact in people's lives for the better, why would you want to skip over those whom you love and trust most?
The only reason I can see is that you don't see yourself selling with integrity or you don't believe in the product you are selling, and the benefits it provides.
As others have mentioned, if you are selling med sup, final expense, or you work for primerica, sure... but if you are working for a respectable company... why the hell not?!
Obviously they people know you are new to the business. If you position it right, there should be no excuses.
"Mom/Dad/Brother/sister/Friend... as you are aware, I have made a decision to change careers and do something I feel strongly about and that is a win win for everyone. As someone I care deeply about and respect, I would like to take an opportunity to take a moment and ask you for your help. I want to take some time to get together to see introduce you to what I do, to figure out if I can help you, and if we would be a good fit for each other. Obviously I am new to the business, and will be working with my Manager/coach throughout the process as I get acquainted in the industry. Over time, I would be doing more and more as I gain experience.
When would you have some time to get together next week for about an hour or so?"
If Yes..... Schedule time.
If No.... "thankyouverymuch, enjoy the rest of your day" and move on
How is that ruining relationships?
- - - - - - - - - - - - - - - - - -
Just an addendum...
From start to finish, it will take about 6 months to acquire a new client whom you do not currently know and get paid on it. If you do not approach your natural market... How the F are you supposed to survive?
think of it this way... who are you going to piss off more? Cold calling people or asking someone politely for some time?
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