Why only 2%...???

Mar 14, 2008

  1. TonyC
    Offline

    TonyC Guru

    Posts:
    446
    Likes Received:
    0
    I was reading a post the other day and someone said only 2% of the agents that start....ever make it or make a good living at it.

    My question:

    Why do only 2% some "new agents" succeed?

    What does it take to be in that 2% bracket?
     
    TonyC, Mar 14, 2008
    #1
  2. theinuranceguy
    Offline

    theinuranceguy Guru

    Posts:
    936
    Likes Received:
    3
    Well I dont know the answer, but like any sales Job many people just dont cut it for the biz!:no:
     
  3. slushhhpuppie
    Offline

    slushhhpuppie Super Genius

    Posts:
    129
    Likes Received:
    0
    Securities & insurance can either be the easiest, most medicore paying job in the world.....or, It can also be the hardest, most financially lucrative career you've ever heard of.

    It all depends on the individual. Success is where opportunity meets ability.
     
  4. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,811
    Likes Received:
    19
    State:
    South Carolina
    On Monday start a log. Write down everything you do for an eight hour day. If you did not spend 8 hours either:

    *Generating leads
    *Contacting prospects
    *Conducting presentations

    then you'll be part of the 98%
     
  5. theinuranceguy
    Offline

    theinuranceguy Guru

    Posts:
    936
    Likes Received:
    3
    Thats Exactly Right!
     
  6. Alston
    Offline

    Alston Guru

    Posts:
    1,221
    Likes Received:
    97
    State:
    Connecticut
    I boil it down to creating a system that can be replicated.

    I don't believe in wasting a lot of time with things that cannot be repeated. For example I don't believe in contacting all of your friends and relatives when you first get into the business. Start knocking on doors, making phone calls or doing something else that you can do over and over. The lessons learned doing these things are more valuable. You don't want to spend a lot of time learning how to navigate a city that you cannot revisit.

    I do certain things in certain ways day in and day out and I make sales consistently. I know how to find good prospects. I stay in front of them after I have identified them. I try to offer value by being able to answer their questions. I follow up and keep contacting my prospects until they are no longer prospects.

    There is a place for study. I heard a lot of stuff about "paralysis of analysis" when I was working in an agency. Management wants you in the field, not in the library. I believe that some percentage of your time should be spent reading about the sales process especially when you aren't getting good training from your company. The optimal percentage is unknowable. The greatest thinkers in the history of the world are available to you. All you need is a library card or an account with Amazon.

    I'd like to think that the advice you might get from two percenters like myself has some value. However I cannot distill 20 plus years of experience into a posting like this. Find a few good books and time to study. Limit your time studying so that you don't use it as an excuse that keeps you from doing aspects of the job you find unpleasant.

    Prospecting will probably be the unpleasant task that will make or break you. You will probably have to deal with people hanging up on you. This is hard for many people. Getting over the emotional piece as soon as possible is more important than learning the best phone technique. However, both are valuable and the more confident you sound, the fewer people will hang up on you.

    Be aware of what you do every day. Take notes and try to learn from your experiences. Critique your sales calls and phone calls.

    Do, review, revise. Repeat.
     
    Alston, Mar 15, 2008
    #6
  7. Guest
    Online

    Guest Guest

    Guest, Mar 15, 2008
    #7
  8. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,811
    Likes Received:
    19
    State:
    South Carolina
    and get used to the phone. I doesn't matter how you generate leads or close deals - you will be spending a great deal of time on the phone - get comfortable with it.
     
  9. Mr. Bill
    Offline

    Mr. Bill Guru

    Posts:
    2,045
    Likes Received:
    10
    A better idea of what Al is recommending:

     
    Last edited by a moderator: Oct 8, 2017
    Mr. Bill, Mar 15, 2008
    #9
  10. Newby
    Offline

    Newby Guru

    Posts:
    14,398
    Likes Received:
    1,465
    State:
    Indiana
    I think it comes down to sales in general.

    A lot of people get into sales jobs of all types because:
    1. They see some people making a lot of money
    2. They know that no one is accountable for their time
    3. Most anyone can get hired in sales- no special requirements
    4. It looks very easy to outsiders
    5. They don't have any idea they will have to spend money to get prospects
    6. They have a spouse that works or a "mommy" that pays all their bills so they need a place to go everyday so they don't have to go back to a job where they can't shuffle papers around all day and claim they "have a lot of stuff in the works."
    Bottom line is; many people get into sales for all the wrong reaons and they basically don't want to work real hard. Very few of us get in because we love the prospecting and advancing our product knowledge and meeting with people and using our brains to figure out what do we have to offer this person that can benefit them how can I communicate that to them?

    I think the agents that reach this forum have a better than average chance of making it because they are seeking out knowledge and mentors and ideas. We are using our free time to advance our knowlege and connect with others that we can learn from. Slackers don't do that.
     
    Newby, Mar 15, 2008
    #10