- 6,027
Never get 100k agents. Testing & Licensing today isn't what it was back in the AL Williams days.
WFG or Primerica? What better options are there?
- Thread starter webestrian
- Start date
Never get 100k agents. Testing & Licensing today isn't what it was back in the AL Williams days.
- 11,514
Yeah... from what I've heard, you can thank the AL Williams folks for all that. From what I understand, because of the AL Williams folks, that's why pre-licensing training was required.
Think about it: why would the DOI care if you've done pre-licensing training? Just pass the exam, right? Well, I suppose they really want to be sure that you KNOW what's in the insurance code to be held liable for it.
Of course, if Frank Abagnale can study for two weeks and pass the bar... but this movie was based in the late 60's too.
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- 1,953
Now I have to seek out that movie. It's going to happen. The newly licensed and the already licensed.
Remember there are many licensed agents out there who are or may not be happy were they are and know of no other options.
It's been done. It was done again. Now one more time in the making wether you or I believe it can be done.
Remember there are many licensed agents out there who are or may not be happy were they are and know of no other options.
It's been done. It was done again. Now one more time in the making wether you or I believe it can be done.
It can't be done for three obvious reasons;
1. The internet makes it far too easy for potential recruits to perform research prior to joining. Annual Income Disclosure Statements not only paint extremely poor outcomes, but more importantly they expose the lengths to which MLMs will go to manipulate the results. Feel free to pick any MLM to discuss.
2. Regulators will not take a wait n see approach for much longer. Donald, Betsy, Ben and Ted won't remain in office indefinitely. Herbalife is under a 7 year probation period as well as class action lawsuits pending. They're not alone in that endeavor. Avon has dropped from the $40's to the $2+ range. China is the only market keeping most MLMs afloat, and they recently banned MLMs from holding any events during the first quarter of this year.
3. Buyer behavior is switching to online purchasing for most of the products and services MLMs offer.
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Toolbelt your still leaning toward the lotions and potions. Financial Services is a different animal.
- 6,027
Insurance IMO's, FMO's, etc - they all basically MLM's . . .
Imagine having 100 Agents in your downline / hierarchy each writing just 10 MAPD's a month . . .
You get a $25 over-ride. That's some bank . . .
100 x 10 x $25 = $25,000 a month + renewals years 2+ . . .
Imagine if you had 10 Managers doing the same and you earned $25 . . .
$25,000 x 10 = $250,000 a month . . .
Insurance system is just like MLM.
Imagine having 100 Agents in your downline / hierarchy each writing just 10 MAPD's a month . . .
You get a $25 over-ride. That's some bank . . .
100 x 10 x $25 = $25,000 a month + renewals years 2+ . . .
Imagine if you had 10 Managers doing the same and you earned $25 . . .
$25,000 x 10 = $250,000 a month . . .
Insurance system is just like MLM.
- 11,514
Compensation-wise... yes. You can find that with any and practically EVERY sales organization (although most don't start quite as low as most MLM outfits).
Culture... depends on the organization (obviously). This is how we get the saying "birds of a feather... flock together" and why, even though you CAN operate differently than the culture, it's very difficult to do because you're "bucking the system" and "hindering duplication" within the organization.
If you're going to "buck the system" in an MLM... be a true independent and be properly compensated for doing so. The only reason to be in an MLM... is to buy into the company culture and sales system/philosophy.
I prefer a "culture of one" - me.
Culture... depends on the organization (obviously). This is how we get the saying "birds of a feather... flock together" and why, even though you CAN operate differently than the culture, it's very difficult to do because you're "bucking the system" and "hindering duplication" within the organization.
If you're going to "buck the system" in an MLM... be a true independent and be properly compensated for doing so. The only reason to be in an MLM... is to buy into the company culture and sales system/philosophy.
I prefer a "culture of one" - me.
In order to find 100 agents for your downline, you need to recruit about 714 people, which requires approaching about 3000 people. Now bear in mind, you're not the first agent on the block, and in established MLMs, you've merely replaced the the 100's before you who have also approached 3000 people each. Those same people have heard the same spiel from Herbalife, Usana, YoungLiving, etc. And soon you realize its easier to recruit, then sell training to those recruits than it is to sell products. Even Dave Ramsey admits that. And in that sense, financial MLMs are identical to pills, potion and lotion MLMs.....because MLM is the product.
- 15,041
You might want to pick a better example, that isn't too far off from how EVERY lawyer passes the bar.
But yes, insurance licensing is a joke, at least for life and health. Some common sense and a little memorization should easily get you a passing grade.
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