What To Do, What To Do?

[J.R.]

What's the alternative? Go indy with 2 months experience? Probably a 1 in 20 chance of lasting a year.

Here's to one year

 

[ROGCHAP57]

Thanks for all the replies it's really helping me a great deal. One big question comes to me from all of your replies, whatever company I decide to go with, do they generally take the time to show you the proper way to Prospect, or is it Sink or Swim. NHB, I really like the idea of doing Seminars, that's come up in some of my interviews and it really sounds like an excellent way of generating leads, when I asked how to go about doing this though they side stepped the question and said they discuss that more in the final interview. I also couldn't agree with you more and being comfortable with the manager you are going to work with. The one manager reminds me of your Stereotypical Salesman, real slick and only caring about the Almighty Buck, the other really seemed to genuinely care about the clients and not just their pocketbooks. Well keep the input coming I really appreciate the help.
Thanks
Roger

 

[johnrocks]

Just like opinions my friend , the training you get from one mgr. may be different from that of another.

 

[somarco]

Seminars can be effective, but few have the talent & funds to pull it off. My suggestion would be to find someone in your area that is doing seminars and see if you can sit in the back of the room & observe.

I did that once with a friend who handles estates of $10M+ and you needed to have at least $500k in liquid, investable assets. He normally charges $400 which people gladly pay to attend. It is a 5 hour event complete with white linen lunch. He had a top estate attorney, a CPA and a bank trust officer. The 4 of them tag-teamed their way through the morning to early afternoon.

Very enlightening.

After each seminar he writes anywhere from $500k and up in life premium. Almost all is cash value policies.

He does very well.

 

[Crabcake Johnny]

I've been a public speaker for a long time and have always wanted to run health insurance seminars.

I have no idea how the math would work out nor how I would get people to attend. I have a feeling just the marketing money involved with putting 50 or so bodies in a room would be very expensive.

My largest fear of course is coming out of pocket a few grand, having the entire place set up then watching three people walk and have a seat. That fear alone has kept me from pulling the trigger. But I still envision a plan where somehow someway I can park 100 people into a large conference room and go over "health insurance 101."

 

[NHB_MMA]

Do low-budget seminars to start off with. I'm not buying lunch or anything, just talking at some locations on the lunch hour and just for 15-20 minutes about one topic at a time. Do I expect much turnout? No, just a few people to pay attention. However, I know a guy that did what I'm setting up at one location and wrote two annuities. That could be beginners luck, but he wrote two pieces of business at one seminar and I booked eight seminars this week, which will be starting in early May and going through June, and there are two more that I need to confirm, which I'll definitely get but it's a matter of the date.

 

[NHB_MMA]

Here's to one year

Good deal. I'm glad you've had success.

Are you saying you had no training before you went indy? I think it can be done if you focus on one, or maybe even two or three, product areas. John and I talked a while back about this and he feels it's part of the reason he's been such a success. It's a tremendous amount to learn when you're relatively new to the industry and get tossed into the fires of financial services.

I think a person would have a much better chance of success with little experience if they focused on mostly one thing: health insurance, term insurance, permanent insurance or estate planning, medicare supplements, LTC, P&C, etc. I think if a person gets licensed and opens up "John Doe Financial Services" and has to juggle all the different term, perm, ltc, annuities, mutual funds, IRAs, etc. I think it would be absolutely overwhelming. I'd give the guy that decides he's tired of painting cars for a living and wants to get into comprehensive financial services a 1 in 1000 chance of making it out of the gates as an independent. We're not supposed to talk about the details of securities, but I'll just say that anyone that hasn't touched that area can't imagine how much more training, red tape, etc. it adds to the mix.

Even specializing in one product is difficult enough. Nearly all "John Doe Insurance" offices started off captive with someone.

 

[ROGCHAP57]

That's what I'm looking to do NHB, in one of the interviews I went to, the manager was talking about similar seminars and it really sounded like a great idea, even if you only get one or two sales you might get some referrals out of the deal to. Hey look at me I'm starting to think a little like an Agent, now if I can start acting like one, settle on a company, and put my nose to the grindstone I might actually be able to make a go of this.
Thanks
Roger

 

[J.R.]

Good deal. I'm glad you've had success.

Are you saying you had no training before you went indy? I think it can be done if you focus on one, or maybe even two or three, product areas. John and I talked a while back about this and he feels it's part of the reason he's been such a success. It's a tremendous amount to learn when you're relatively new to the industry and get tossed into the fires of financial services.

I meant that comment in regards to, "A toast to GETTING to 1 year." I had minimal training with a former captive company rhyming with base before setting out to be an indy. Essentially, it is like starting over. Fortunately, I found this forum, and through the guidance and support of some agents on here that I have a lot of respect for and family and friends, I am doing what I can to become proficient in becoming an individual health insurance expert.

 

[Anne]

To set yourself apart from everyone else in this industry. Do what others are NOT doing.

Seminars are great.. but they are all over the place. If you are holding them.. (which I have experience planning them for insurance purposes) think of these things:

If you offer a free lunch -- you will get attendees who just come for the free lunch. I had a woman show once for a financial seminar that I planned, had goody bags, gifts etc. She said right off.. when we were introducing ourselves.. that she did NOT have money, she wanted the free food and she was good at giving MASSAGES! Yes, she really said this.

She then proceeded to "grab" my agent during the lunch "break" rub his back and shoulder.. then worked her way around the room giving everyone FREE MASSAGES!

SHE WAS A HOOT!

Same thing with DINNER. FREE MEAL.

Serious "interested" prospects will PAY for what you are going to be talking about.. ..

Had a guy who showed up at another seminar -- AFTER the massage lady --about 2 weeks later. NEVER JUDGE A BOOK by its COVER. He looked and or reminded my boss of that other lady. My boss said .. "he was just there for the "free" food" .....

The guy owned a plane! WAS a private pilot and had more money than he knew what to do with!

Have a seminar non-confrontational, informational meeting-- that will CAPTIVATE your audience. Make them laugh. Make them remember you. If you are remembered you will GET BUSINESS... when the client is ready.