If you have made a decision to build a career selling insurance products, congratulations. You have made a choice that can positively influence your future, your finances and your family.
I wish you didn’t have to say it, but you’ve also made a decision to present one of the hardest experiences you’ll have in your life.
Disappointment. And why do I say that?
Because the longer you stay in this business, the more likely you are to say “I’m ready to stop selling insurance”. But why? Why do more than 80% of agents who get their licenses and work for insurance companies leave in the first year? Let me give you a few reasons to consider:
1) Rejection from potential customers – you will need a thick skin to fall into this activity because you will hear the phrase “no thanks” so many times you will start to think it is your name. People generally don’t spend to buy insurance. They have to be convinced that this is something they should take seriously now. The only client who knows for sure that insurance is important is the person who has experienced first hand both death and illness without any insurance. That won’t be the majority of your customers, so they won’t say it often. Get there!
2) Financial Insufficiency – most insurance companies are extremely wealthy. A big part of this reason is that they are an industry that gets most of its business from vendors, but does not guarantee wages. If a seller does not make a sale, it is not paid. This means that as a salesperson you need to have the financial resources to go to work every day, keep your car running, pay for a phone service, wash your clothes so that you are well in front of customers, pay bills. of your home and eat without having a penny for your efforts. Most of us can’t afford to go to work every day and manage our living expenses without any money coming in.
In some policies you can get paid pretty quickly while others take weeks. So a new agent is expected to do everything he can to write and submit activities. Yet he does not receive money. It is not long before he is out of insurance business and taking a job with more financial stability.
3) Managerial Incompetence – one of the toughest challenges for a sales agent is working under an incompetent manager. Many times insurance companies promote executives from vendors who have done well in sales. However sales and management are two different animals. You may be an excellent salesperson but you don’t know the first thing about management. I worked under managers who thought their job was to push them to sell. Salespeople need guidance in their careers to keep them focused on the goal; make money as soon as possible.
Don’t leave. Learn how to win and fight until you do.