Would a Career Change Be Wise?

[Full Throttle]

This guy already has 50k job with awesome benefits, why should he leave to maybe make 50k in two or three years. If you think we are being negative I suggest he ask his Mom ;Hey, Mom guess what? What son? I just quit my job with the state to be an independent insurance agent! you fill in the blanks _____ ____ ____ ____ ___

Live life to keep Mom happy or work your tail off in a business for a substantially larger income later on. It comes with risks and most fail because they won't follow the criteria I listed above. The good news, that would be in his control. He knows himself better than anyone on this board.

It seems all of you are so negative on the insurance industry, why?

 

[BTFuzz]

Again, what type of insurance is he doing? I think we are just assuming life here...

 

[VaDwayne]

Hi there,

I've been weighing the pros and cons of entering the insurance business, mainly to sell insurance online (virtual agent?). I have 9+ years in retail banking experience where sales were a large factor of success, so I'm comfortable with that aspect of the job. I'm also comfortable with working my tail off to succeed. I currently make a little over $50k/annually working for a state agency. I have been at this job for 3 years and have not received a pay increase once. Needless to say, the state is having budget issues and I foresee no raise in the near future. So, my main question is, what are your thoughts on leaving my current job/PAY in order to begin a career in the insurance business? If I work hard enough during the first few years, do you think I could earn comparable pay?
Thanks in advance for your responses!

I walked away from that kind of money, actually more, and the first year is a tough gig because of the time it takes to get licensed, get appointed with companies, learn the products, and learn to prospect, ans also SELL. I would do it all over again, just the way I did it. With that said, I also have a wife that is making that as well, which makes it much easier, and I made well over that this year. I also had 3 months salary saved when I started too.

I know that this is not much help but YOU have to decide if YOU can do it. The agents on this forum, including myself, may have a completely different work ethic than you, may not be as intelligent as you, etc.

Very few NEW agents on this forum work a solid 8 hours a day so they really have no idea what their potential is, and I bet most don't work 3 days a week. The trick to this job is ACTIVITY!!!!! You must actively do something to try and sell something everyday.

PROSPECT, PROSPECT, PROSPECT

 

[Pangaea]

I walked away from that kind of money, actually more, and the first year is a tough gig because of the time it takes to get licensed, get appointed with companies, learn the products, and learn to prospect, ans also SELL. I would do it all over again, just the way I did it. With that said, I also have a wife that is making that as well, which makes it much easier, and I made well over that this year. I also had 3 months salary saved when I started too.

I know that this is not much help but YOU have to decide if YOU can do it. The agents on this forum, including myself, may have a completely different work ethic than you, may not be as intelligent as you, etc.

Very few NEW agents on this forum work a solid 8 hours a day so they really have no idea what their potential is, and I bet most don't work 3 days a week. The trick to this job is ACTIVITY!!!!! You must actively do something to try and sell something everyday.

PROSPECT, PROSPECT, PROSPECT

Let's be real, 98% of the forum posters here are losers--you can tell who they are by their attitudes and post count. They spend ALL DAY everyday giving out mediocre advice because it makes them feel good and they all get together shooting the ****, inadvertently convincing themselves that they ARE successful.

Are the odds heavily against a first year agent? Yes.

Yet, at the same time this wouldn't be the right forum to ask a question like "would a career change be wise?". A better thing to do would be to sit down with a successful agency owner and ask them what does it take and decide if the juice is worth the squeeze.

Never forget that VERY FEW top producers spend their time hanging around on a forum. VERY, VERY, VERY, VERY, VERY FEW.

[Did I forget to say very few?]

When I was marketing for many here I noticed a direct correlation between post count and budget.

Higher the post count = lower their marketing budget

Find yourself someone already making the kind of money you want to make and sit down with them. Be prepared to not like the answers, just make sure you're asking the appropriate people.

I remember all of the **** they gave Dwayne and still do, yet Dwayne is hustling. Same thing with Rob Liano.

If you do what 90% of everyone else does you'll get the same results. Seek out that other 10% privately and get to know them VERY well.

Bon Courage.

 

[Josh]

Are the odds heavily against a first year agent? Yes.

Particularly if they're coming from a government job.

If someone doesn't even know what line of insurance they're going to be marketing and they're used to a 9-5 that's only hurting the odds.

 

[VaDwayne]

Particularly if they're coming from a government job.

If someone doesn't even know what line of insurance they're going to be marketing and they're used to a 9-5 that's only hurting the odds.

Good point... I forgot to add that it may have been a little easier for me because I was in commissioned sales for 25 years before and was used to working 65-70 hours a week.

 

[Ann H]

To the original poster - you might actually have a perfect solution. If you are working a state job, you undoubtedly work 9-5 with lots of days off and lots of benefits. Keep that $50,000 a year job, and start setting up your insurance career. Get licensed, go to classes, attend seminars & webinars, learn your products & your niche, start marketing & prospecting, and sell whenever you can. Who cares if you make $200 the first month and $300 the next month. If you're sitting on a $50,000 a year job, that's extra money to spend on fun or else to set aside for lean times that may come. Don't quit your job until you've built your income and BUILT YOUR EXPERTISE! You'll find that the products you sell & the methods you use in year 3+ in the industry is entirely different than what you imagined it would be when you entered the industry. You sound very bright and motivated. There are many, many people who wish they had a $50,000 a year job in this economy, much less the opportunity to build a career on the side which could offer them independence and unlimited success.

 

[nobl3]

Thanks for all of your input! Good or bad, it was what I was looking for. I know that there is more potential in a career change if I can make it as a successful agent (5+ years down the road? and lots of ups and DOWNS (I'm a realist)). But, the reality is I have bills to pay and mouths to feed. So, I'll continue to ponder the idea and maybe get licensed to take the part-time approach.

Thanks, again!

 

[DHK]

Sounds like a smart and realistic approach. Glad to help.

Sometimes being "negative" is a positive thing!

 

[nobl3]

You're assumptions are correct. I'd be going with Life.
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Thanks for your advice, Ann!