Questions Before Starting

[agenttobe]

I have an extensive healthcare background and need a change. I am working on a business plan, reading sales and marketing books, and different resources for mailing lists and cold calling materials.

With my knowledge of healthcare I would like to start independent, instead of working for "the man" I want to be "THE WOMAN". I have the support of my husband and a small nest egg to get started.

Does anyone know of any books or resources that would be helpful while planning my endeavor?

Also, how difficult is it to become a GA or Broker?

Any and all advice is appreciated. I reserve the right to ask questions!

 

[souldeux]

If you're looking at a health insurance career, check out Insurance Training – Leading Online Health Insurance Agent Training Resource (the Independent Health Insurance Agent Association). John Petrowski runs a tight ship over there. For my part, I'm one of the two guys behind the ILIAA (the Independent Life Insurance Agent Association). Both associations are training centers for new and seasoned agents alike.

The best resources you'll find starting out are policy brochures - learn your product offerings inside and out, otherwise you'll be constantly caught off guard by the insane stuff clients think to ask. With a healthcare background, it sounds like you've got a leg up on most when it comes to dissecting benefits.

Once you've learned your offerings, you'll need to learn how to sell them! Time and time again, I've seen that the best way for new agents to learn how to sell their products is to practice with others. You can read books, take classes, surf forums - but until you get out there and try to apply what you've learned, you won't move forward.

Looking at the IHIAA calendar, there's a webinar tomorrow that you'd probably like: Getting off the ground on a limited budget. Even if you've got a huge marketing budget to start, I'd recommend looking at that - it can introduce you to marketing methods you might not have considered before. The one thing that separates the successful agents to the unsuccessful ones is that the successful agents have a plan to consistently put themselves in front of qualified prospects. Learning to market yourself is vital - then you'll need to learn to sell to the people you're marketing to!

The ILIAA is running a webinar on closing techniques tomorrow and a live role-play webinar on Friday where we'll be acting out sales situations in a webconference. It's a great way to practice and get yourself comfortable talking with clients.

When you say "become a GA or Broker," I'm assuming you're referring to putting agents in your downline. With life insurance, it's very easy - all you've got to do is get a high enough contract to place agents below you. Easy as pie! Depending on who you contract through there may be some little bits of paperwork to file, but it's simple from a practical standpoint. John would be able to speak much more fluently on the process with health.

 

[Guest]

Hi and welcome to your liberation!!

I can make you a GA at higher contracts than you'll get anywhere else and offer you actual sales training, not just product webinars, but proven training, free of charge.

Check out my testimonials here and call me this week to discuss:

Testimonials

I have an extensive healthcare background and need a change. I am working on a business plan, reading sales and marketing books, and different resources for mailing lists and cold calling materials.

With my knowledge of healthcare I would like to start independent, instead of working for "the man" I want to be "THE WOMAN". I have the support of my husband and a small nest egg to get started.

Does anyone know of any books or resources that would be helpful while planning my endeavor?

Also, how difficult is it to become a GA or Broker?

Any and all advice is appreciated. I reserve the right to ask questions!

 

[YouGotMyMoney]

Whatever you do, do not buy internet leads.

 

[Guest]

Good point, if you can't sell or compete, do not buy shared leads!!!

Whatever you do, do not buy internet leads.

 

[YouGotMyMoney]

Even if you can sell or compete, internet leads are 90% garbage.

Why should a new person starting in this business start off by purchasing leads?

80-90% go straight to VM.

And when you call them back, only 10% pickup on average.

 

[WinoBlues]

I have been doing this for a long time and I plug into the webinars all the time. I like that they are recorded so that I can watch them early in the day. Helps get the old juices flowing.

If you're looking at a health insurance career, check out Insurance Training – Leading Online Health Insurance Agent Training Resource (the Independent Health Insurance Agent Association). John Petrowski runs a tight ship over there. For my part, I'm one of the two guys behind the ILIAA (the Independent Life Insurance Agent Association). Both associations are training centers for new and seasoned agents alike.

The best resources you'll find starting out are policy brochures - learn your product offerings inside and out, otherwise you'll be constantly caught off guard by the insane stuff clients think to ask. With a healthcare background, it sounds like you've got a leg up on most when it comes to dissecting benefits.

Once you've learned your offerings, you'll need to learn how to sell them! Time and time again, I've seen that the best way for new agents to learn how to sell their products is to practice with others. You can read books, take classes, surf forums - but until you get out there and try to apply what you've learned, you won't move forward.

Looking at the IHIAA calendar, there's a webinar tomorrow that you'd probably like: Getting off the ground on a limited budget. Even if you've got a huge marketing budget to start, I'd recommend looking at that - it can introduce you to marketing methods you might not have considered before. The one thing that separates the successful agents to the unsuccessful ones is that the successful agents have a plan to consistently put themselves in front of qualified prospects. Learning to market yourself is vital - then you'll need to learn to sell to the people you're marketing to!

The ILIAA is running a webinar on closing techniques tomorrow and a live role-play webinar on Friday where we'll be acting out sales situations in a webconference. It's a great way to practice and get yourself comfortable talking with clients.

When you say "become a GA or Broker," I'm assuming you're referring to putting agents in your downline. With life insurance, it's very easy - all you've got to do is get a high enough contract to place agents below you. Easy as pie! Depending on who you contract through there may be some little bits of paperwork to file, but it's simple from a practical standpoint. John would be able to speak much more fluently on the process with health.

 

[mlt]

I too am in a similar situation , in health care but wanting out.

 

[mszlazak]

I have an extensive healthcare background and need a change. I am working on a business plan, reading sales and marketing books, and different resources for mailing lists and cold calling materials.

With my knowledge of healthcare I would like to start independent, instead of working for "the man" I want to be "THE WOMAN". I have the support of my husband and a small nest egg to get started.

Does anyone know of any books or resources that would be helpful while planning my endeavor?

Also, how difficult is it to become a GA or Broker?

Any and all advice is appreciated. I reserve the right to ask questions!

I do seriously consider the possibility of working for a "big company."

Things I've been looking at is what kind of "natural market(s)" I have, the "immediacy" of those markets, and matching marketing, sales & advising techniques to them.

You have cold/warm phone calling, seminars, direct mail and referrals. Each has differences in cost, labor involved and effectiveness. The best being working by referrals. People say that asking for referrals is cheapest, least labor intensive and most effective way to build your client base.

Immediacy is a question to consider for a quick start. What do you think would get people to move in your direction most if you asked whether they are interested in financial planning or insurance? It isn't typically going to be insurance because that's not an immediate concern but the best place to put their money is.

Now consider working for a company/agency that has a large financial component to their business. Doesn't this look like an advantage?

So IF this interests you then make sure that the agency really does do a lot of financial & estate planning. Not one that says their company has those products but the agencies business is mostly (80%-90%) insurance. If they really do a 50%/50% or 60%/40% split, that could be the right place for the best of both worlds with a synergistic mix of products. A true holistic approach. (You probably won't start in financial services for various reasons but they are available for later). Also, add to that an agency that allows you to sell outside of the companies products. Wow.

If it's yes to these then you are needs based selling with many more options, building long term relationships in a more adviser than sales role just like an independent.

But unlike an independent you have a team of live experienced people with many resources to help coach you if they are inclined and you are willing. Also, working in a supportive environment with others will help because positive morale is a key driver to success especially when you are starting. Furthermore, independent agents may not be allowed to sell great product from a great company.

Now consider that there are many many products out there which no one can know enough details about in a life time. But a team will always know more together than you will. Never think you are "the smartest in the room." That has cost people the Noble Prize.

I'm also wondering how many vendors will come do a presentation in your home office when you start out.

Research the landscape, you'll find a fit.

Best wishes & success either way you go.

 

[Thatguy]

Mostly very good advice. The common ground here is how I see this:

1) Join a respectable association that will help to mentor you and provide you with the knowledge you seek.

2) Don't put all your eggs in the basket before you know how this association works.

3) Don't buy crappy leads.


Go forth, have fun, make millions, send us a postcard.