Return on investment

This is the only time I've ever seen taxes taken into consideration as an "expense" against ROI (but maybe I've missed a post or two). BTW, are taxes considered an "expense" or an "investment"?

It would be nice if they were an investment, but the way this government works, it 's an "expense", no doubt.

Maybe I'm missing something, but wouldn't any savvy business owner take them into account in figuring their ROI?

They have to be paid eventually, right?
 
First of all, we have a progressive tax, and so you wouldn't be paying 35% on all 6 figures. second of all, are you looking for a 6 figure income or 6 figures after taxes? Big difference right there.
 
Taxes are due quarterly

Absolutely (I was trying to be funny...)

And my understanding is that they are "estimated" quarterly taxes at that, so if your income will increase over time, you would effectively delay a portion somewhat (since you don't know yet what the increased income will actually be); however, if your income actually DECREASES....well...

But I'm way outta my league here...

At any rate, glad to have it brought up to be included in ROI calculations, forgot about the progressive part. Great info on this board!!!!

Hey, wonder what the tax rate will be next year? :swoon:
 
PS-Congrats to Morneau. You've got to admit though Hamilton "stole the show"! If he was still with the Rays....

No doubt about that, that was an impressive show he put on!

I've built my book on business owner telemarketed leads. If you build a "relationship", they'll stay with you forever, and refer like crazy if you "set the table".

In my short time in this business, I have already started to see the truth in those words. The service side of the business is so piss poor, that if you treat them right, they won't leave. The tough part coming in, except for rare circumstances, prospects don't seem to care much about service, it's mostly an idea business initially coming in on how to cut costs or increase benefits. As a result, it's easy to neglect the service side and not think it's all that important. However, the dividiends come later when you "wow" your new client and they start referring business. That's where the investment in servicing your clients well starts to pay dividiends in terms of new clients, not to mention persistency on renewals.

I'm still greatful for the time you took with me on the phone in the past and opening my eyes to other areas I hadn't considered in the past. I still haven't implemented them all, but I have on some of your ideas and will on more of them. Thanks again Paul!
 
Renegade Thinking

I do thinks a little differently. I pick unique niches and position myself as the expert/celebrity in that niche and dominate.

Of course I do my research, but the best lead is a natural or FREE lead. That comes from have people call you, not spending your time calling others.

Does cold calling work. Absolutely, I actually built my business calling every day for two straight years, then I got smart and learned how to get people to call me

Do I have to do lead generation still? Yes, but I do it differently that just sending out a post card that says I will save you money on insurance.
 
Renegade Thinking

I do thinks a little differently. I pick unique niches and position myself as the expert/celebrity in that niche and dominate.

Of course I do my research, but the best lead is a natural or FREE lead. That comes from have people call you, not spending your time calling others.

Does cold calling work. Absolutely, I actually built my business calling every day for two straight years, then I got smart and learned how to get people to call me

Do I have to do lead generation still? Yes, but I do it differently that just sending out a post card that says I will save you money on insurance.

Also, as you look at cost per lead and cost per sale. You can, of course, sell something that generates more premium OR sell something in addition to the policy...you will need to check with state laws...however, I sell commercial liability to general contractors. In addition to the policy, I also sell them an information product on how they can grow their business for $300 to $500. There are months I make more on the product than on the commission. This helps offset the cost per lead and sale. Then, I have a retention system that keeps them around so I make money on renewals each year.

Isn't insurance beautiful if you know how to do it...

Zach
 
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