Writing an App a Day

[Crabcake Johnny]

One of the worst things I ever did was really bang out a week - just a lot fell into place but I also busted ass - $36K X 25% = $9,000. She flipped when I got paid.

Of course, I was burnt by week's end. Now what I hear is "why can't you do that every week?" Well....why can't I?

I too hit my financial glass ceiling and quite frankly, lose a lot of motivation after I've made "X" amount per week....which I'm working on.

 

[bluemarlin08]

I have hit a ceiling of my own and making an attempt to break through.

 

[Crabcake Johnny]

Highly successful people - even biz owners, are in a work environment that has support and motivation. It's extremely hard to punch it out sitting in your home office. Hiring agents and moving into a location isn't the answer for me since that's just surrounding myself with a bunch of whiners.

 

[padthaiforlunch]

Hiring agents and moving into a location isn't the answer for me since that's just surrounding myself with a bunch of whiners.

Lol. If you make them stay on the phone all day and leave your admin person (tell her she's the office manager) behind to slave drive, you won't have to listen to them whine. You just show up for training and the morning sales pitch and tell them to talk to the girl. Let her run interference.

 

[James]

The premium that the original poster is targeting is only $25 a month. Is it really impossible to find somebody who will pay $25 a month if you work 8 hours doing that? Selling a $25 monthly premium is a lot easier than selling a $300 a month premium. It is only impossible if an agent just wants to work a few hours a week. But anything is impossible to accomplish if someone does not want to put in the enough effort needed.

The better question is: will an agent be willing to put in the enough efforts needed to sell a policy a day?

I would totally disagree, selling quantity is more work then selling quality. Selling low ball "Rapid Decision" is no more different then selling "Home Certain", basically taking advantage of the ignorance of the general public or your client. I'm just wondering to myself, exactly who your clients are that will fall or can only afford $25 a month?

I always view it this way, I have a desire to make so much per month, year or what have you, I have a time scheldule I have to work within. I have XX amount to spend, from there I lay out a plan to get from A to Z with the least amount of friction.

In other words, where to you want to be in 5 years? Working on the never ending policy a day crap or having a boatload of clients you can go back to over and over? If you sell cheap rapid issue term, more then likely you face a fall off of 30% in the first year, likely around 50% to 60% by year two, in a business model that states write and leave, not much room for service. In other words, there isn't much room to go back and try to review or rewrite the business, what you say, you think you can sell that crap twice?

 

[padthaiforlunch]

I have hit a ceiling of my own and making an attempt to break through.

Since you are writing so many apps, perhaps you would be so kind as to share what you are doing, such as how many leads/appts/sits you need to write so many apps and what you are doing to generate those leads; the challenges you now face, and your new goals.

 

[theinsurancelady]

I want to hear it too.

 

[happy]

I would totally disagree, selling quantity is more work then selling quality. Selling low ball "Rapid Decision" is no more different then selling "Home Certain", basically taking advantage of the ignorance of the general public or your client. I'm just wondering to myself, exactly who your clients are that will fall or can only afford $25 a month?

I always view it this way, I have a desire to make so much per month, year or what have you, I have a time scheldule I have to work within. I have XX amount to spend, from there I lay out a plan to get from A to Z with the least amount of friction.

In other words, where to you want to be in 5 years? Working on the never ending policy a day crap or having a boatload of clients you can go back to over and over? If you sell cheap rapid issue term, more then likely you face a fall off of 30% in the first year, likely around 50% to 60% by year two, in a business model that states write and leave, not much room for service. In other words, there isn't much room to go back and try to review or rewrite the business, what you say, you think you can sell that crap twice?

I was talking about what the original poster's goal were. Most of my sales are big face amounts to business owners so their monthly premiums are definitely way above $25. It is my personal decision to target business owners who can afford the higher monthly premiums which will give me higher commissions but if the original poster wants to target those in their 20's and 30's, it is his decision.

I do not know what he is selling but it is possible to write good policies with monthly premiums in the $20's and $30's range from the major companies which can be converted later on to permanent plans. A 25 year old male can have a face value of $500,000 from AIG for a 20 year term with a monthly premium of $21-$29 depending if he is approved as preferred or preferred plus. How is that taking advantage of the client?

It is just a matter of the target market that one is working with and the approach they want to do with their business. I personally suggest a combination of term and permanent from the start and it depends on them if they want to follow my suggestion or just get a straight term policy. Some agents just offer the term policies to build relationship with the client first, then come back and offer permanent protection.

All I am saying is that selling a policy a day for that premium is attainable.

 

[somarco]

I have a desire to make so much per month, year or what have you, I have a time scheldule I have to work within. I have XX amount to spend, from there I lay out a plan to get from A to Z with the least amount of friction.

In other words, where to you want to be in 5 years? Working on the never ending policy a day crap or having a boatload of clients you can go back to over and over? If you sell cheap rapid issue term, more then likely you face a fall off of 30% in the first year, likely around 50% to 60% by year two, in a business model that states write and leave, not much room for service. In other words, there isn't much room to go back and try to review or rewrite the business, what you say, you think you can sell that crap twice?

Short term financial goals are a necessity for many, but when the short term financial goals conflict with your clients long term goals, everyone loses.

Slamming as many clients as you can into a policy just so you can pay your beer tab is counter-productive.

The paycheck to paycheck mentality of clients and agents alike will eventually catch up with you.

When you sell junk, just to get by, it will come back to haunt you.

I have seen agents who constantly churn their business, selling the latest "hot" deal only to come back a year later trying to re-sell their client on something new. While some clients are always looking for the cheapest thing around they will eventually fire you when someone comes along with a plan that is cheaper than yours.

An app a day is a goal that can be achieved and still serve the client.

There is nothing wrong with making a good living in this business. To be truly successful you need to balance it against the needs of your client.

FWIW, I know a lot more agents making $200k (your figure) in the health business than I do the life business. Perhaps it is just because my career has focused on health, or maybe it is because it is much tougher to make a good living selling primarily life insurance.

 

[Crabcake Johnny]

I'd guess that a lot of heavy-hitting life agents are captive with outfits like New York Life and Monumental. Those outfits and outfits like it have plenty of superstars however they also have the environment necessary to achieve that type of success.

I'll go ahead and include myself, but logic dictates that agents who are extremely driven aren't posting on message boards. They're generating leads and doing presentations.

I've seen very few health agents achieve any level of success working independent from home and even fewer life agents.

Crappy products aside UGA had at least 20 agents per year breaking a mill in "QPC" which is placed, not written business. I currently do not know any independent agent writing more than a mill a year. Atmosphere has more to do with it then agents think.