Seminar Idea

Jun 27, 2007

  1. SME
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    SME Super Genius

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    I have been considering putting on a seminar in the Phoenix area for individuals wanting to become insurance agents, or current agents looking for ways to be more productive with better time management. I plan to cover:
    Should you be in insurance (realistic expectations)
    Setting up shop (computer programs, excel spreadsheets for lead tracking, profit and loss calculations)
    Appointments- Captive vs Independent
    Leads- Cold Calling, Internet leads, B2B, telemarketed
    Commissions- As Earned vs Advances
    Service after the sale- How to increase retention.
    Marketing- Things to try.

    Each participant would get a binder filled with a copy of the seminar and several useful forms. Including a disc with my tracking spreadsheets. The actually presentation would be about 2 hours with an additional 30 minutes for question and answer.

    What do you think would be a reasonable charge for this information?
    What information would you want covered most?
     
    SME, Jun 27, 2007
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  2. midwestbroker
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    midwestbroker Guru

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    Personally I think that is a great idea for people looking to become an agent.

    But isn't that what they can get from the carriers or FMO's for no cost?

    I have been thinking about starting an insurance networking group, for agents to get together and chat about insurance.
     
  3. SME
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    Carriers can tell you about thier products. This is more about managing your time, and giving new agents my experience
     
    SME, Jun 27, 2007
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  4. Crabcake Johnny
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    Crabcake Johnny Guru

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    The real benefit is talking openly about all carriers without having an agenda. I think it would be invaluable to basically go over A to Z about being an independent insurance agent.

    Price point is very hard and to be honest you'll gonna have to do trial and error. It's going to be a price that makes it worth your time, gives value to your client and it's so high that no one attends.

    I know seminars that run thousands of dollars. I also know mini-seminars that just run a couple hundred.

    Personally I could have easily paid $500 to get all the information I'd need to be a successful independent agent. My recommendation would be a free into 1 hour seminar with food where you'd give everyone your pitch. I think you need to build value in your services and establish a reputation for yourself. I'm not sure just mailing out invites that charge for the seminar will work. Usually the only people who mail and charge are well known speakers.

    Step 1: Send about 5,000 mailers to agents
    Step 2: Invite them to a free seminar for becoming an independent agent
    Step 3: Run the seminar focusing on the value of what you have to offer. At the end pass out sign-up forms complete with credit card authorization to interested people.
     
  5. salpro22
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    There went my idea. ;)

    I would charge participants a nominal $1000-$2000 per event plus on-going hourly consultations @ XXX amount per hour. Talk to Frank about including his program in the seminar to help keep track of clients and let things rip. I love the idea!
     
    salpro22, Jun 27, 2007
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  6. BKrocko
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    Salpro22 - I thought you would accept 2 goats and a chicken.
     
    BKrocko, Jun 27, 2007
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  7. salpro22
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    US an A is more expensive that we managed and gypsy tears are not cheap..... I only get the best.....
     
    salpro22, Jun 27, 2007
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  8. Frank Stastny
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    Frank Stastny Guru

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    Steph,
    Awesome idea. I especially like Salpro's idea of including YIO. :biggrin: I would even fly to Phoenix to be a guest speaker.

    Currently there is no place an individual can go to get straight answers to questions about what to expect or how to really get started except here. All of the "insurance people" are going to lead them to believe that they can make $100,000 the first year sitting at home in their underwear. I still can't even do it wearing Levi's. LOL

    I see several hurdles to overcome. The first is the cost, regardless of how much it is. If you read the posts by members thinking of getting into insurance, you will see that most of them don't have very much money to work with beyond having a cushion to live on until they start producing. Some don't even have a "cushion".

    When I was hiring and training agents I "loaned" a number of agents money for gas and other expenses just so they could go on appointments. I don't think you will find a lot of them flush enough to pay enough money to make it worth your time. Especially the $1,000 to $2,000 Salpro suggested. That would be a dream come true if it could be done.

    What you are proposing is, in an informal way, what we are doing here. I have talked to several of the members numerous times answering questions about the senior market. I'm sure you and others have helped new agents get started also.

    I believe you are going to have a tough time convincing new agents that the information they can get for "free" from a marketing organization or from a broker is not really going to be as valuable as what you could provide them with. Those of us who have "been there, done that and have the t-shirt" know better. They, for the most part, won't realize that until they have already gotten screwed. Life's tuition is very expensive.

    In my experience what usually leads to the failure of a new agent is three fold. They are not taught to prospect, no one helps them put together a presentation that fits their personality and they are totally unorganized and don't have a clue where to begin. They keep copies of apps and call a "lead" a few times and then throw the card in a box. Everyone knows that when a "lead" gets "cold" it is worthless.

    This is an area where they need the most help and where someone like you could provide an extremely valuable service. They have to be taught to deal with objections, how to ask for the money and how and when to follow up. Those are the things they don't get from general agents who just want a large percentage of their commission and put the business in the agency name, not the agents. They really don't care if the agent is successful. All they do is lie to a new guy. If the new kid writes one app that is money in their pocket.

    A program like the one you are talking about would make so many new agents successful but I don't think you can convince them to pay you money to do it. However, I really love the idea and would be more than happy to lend a hand in helping you get it started if you think there is anything I could "bring to the table". I would even do it for "free". lol

    I think I mentioned in a thread a while ago that this board should put together a program for new agents. That, would be an awesome seminar.
     
  9. senior-advisor-indiana
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    Were you joking when you said "when a lead gets cold its worthless"?

    We should all plan to meet somewhere. I'll bring the beer and the boxing gloves:D
     
  10. SME
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    Here is what I have decided. I am not going to market to the individual agents. My goal is to find the GA's and MGA's that put multiple agents under them. Contact them and sell them on the idea of having me come to thier office and "train" thier new agents. I'll charge a nominal fee for my services and will be able to test out my presentation. Then after I have established a reputation with these groups I will find a reasonably priced location and have a real seminar. My goal right now is to find a few "Agency Managers" in my area that are trying to build thier business by having agents under them. My fees will be $1,000 for just the presentation and an additional $50 per participant for materials. I think that I can find a few managers willing to pay me to train thier agents. A manager would make that money back with only 2-3 sales. What do you think?
     
    SME, Jun 28, 2007
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