Staying Motivated
There can be a multiple number of reasons that contribute to a new insurance agent failure. Here are a few to consider:
- Limited product portfolio
- Lack of adequate knowledge
- Lack of adequate cash flow (income)
- Not taught effective prospecting and marketing techniques
- Lack drive, self-motivation or ability to handle rejection
- Do not have a mentor or coach
- Do not have a quality team behind them
- Have not developed a plan for success
I am sure I could list more reasons, but for the most part, these are the main reasons young or new agents fail. Mentoring agents the past thirty plus years, I have seen average agents become highly successful and I have seen agents I felt were destined for greatness, fail. Let us help you develop a road map for success and start driving your sales in the right direction. Ready???
I sincerely believe the 80-90% failure rate of new insurance sales agents entering the insurance industry can be significantly reduced when the right agent support system is in place. We are here to help you develop a “Plan for Success” designed to achieve your financial and professional goals.
First, you must be willing to forget all your past habits and start fresh! The old phrase fits, “Today is the first day of the rest of your life”.
Develop a Plan for Success
No one goes anywhere without a defined path they must follow. Plan your day’s activities and follow your plan. One successful agent shared his plan with me and asked that I pass it on. Here is his daily agenda:
5:30 AM ½ hour of exercise (walking, treadmill etc)
6:00 AM ½ hour reading (industry news, product review, education)
7:00 AM Arrive at the office, review emails, memo’s, mail and plan for the day
8:00 AM Two hours of phone calling (50% cold calls, 50% clients)
Goal is to set at least five appointments
10:00 AM 5 Appointments over the next four – five hours.
3:00 PM Write thank-you’s for appointments which details action
You are taking, set time for next meeting and
What will happen at that meeting.
4:00 PM Quotes, appointment preparation
6:00 PM Plan next day’s activities & review
10:00 PM Lights out Get a good night’s sleep…
Does it work? His income is over $250,000 annually and grows by about 10% a year.
What does this tell you? You need a plan of activity and you need to do it every day and be relentless with the results you EXPECT to achieve. No one ever gets rich finishing second in a sales contest. Those who prepare usually win consistently more than finishing second. The above agent’s closing ration is 88%, meaning with 5 appointments every day, five days a week, he sees at least 260 potential new buyers and at 88% close ratio it equates to approximately 228 sales a year.
This agent is good at selling. He relies on PIPAC LIFE Brokerage as his back office and for all of his support. He is the reason we came up with the slogan, “Do what you do best, SELL and we (PIPAC LIFE Brokerage) will do the rest.
You see his plan takes care of all the reasons young or new agents fail. His relationship affords him a great portfolio of products with no production requirements. He can fall back on us when he is unsure of what product or carrier to recommend to his client. He also realizes how important having the right team behind him is to his success. Lastly, he is not afraid to bounce ideas back and forth, ask for advice and seek other’s opinions in comparison to his own.
If you want to double your income, PIPAC LIFE Brokerage can help you develop a Plan which will accomplish your goals, afford you a top-notch product portfolio, give you the dedicated support staff necessary to stay on track and a mentor/coach to help guide your activities. Come see how we are changing agent’s lives, one agent at a time. Contact us at 866.452.3670, sales@pipaclife.com.
