If you’ve decided to start a career selling insurance products, congratulations. You have made a choice that could have a positive impact on your future, finances and family.
I wish I didn’t have to tell you, but you decided to introduce one of the most difficult experiences of your life.
Frustration. And why am I saying this?
Because the longer you stay in this job, 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 a license and work in insurance companies quit their job within the first year? Let me give you a few reasons to think about it:
1) Rejection by potential clients – you’ll need thick skin to be successful in this business because you’ll hear “no thank you” so much that you’ll start to think it’s your first name. People don’t usually run out of buying insurance. They need to be convinced that this is something they should seriously consider now. The only customer who knows with certainty that insurance is important is someone who has experienced uninsured death or illness firsthand. This won’t be the majority of your customers, so they will often say no. Take us to him!
2) Financial Incompetence – most insurance companies are extremely wealthy. A big part of this is that they are an industry that takes most of their work from their salespeople but guarantees no pay. If a seller does not sell, he or she is not paid. This means that as a salesman, you must have the financial resources to go to work every day, keep your car running, pay for a phone service, wash your clothes to look good in front of customers, pay your household bills, and eat food you can’t get. a penny for your efforts. Most of us can’t afford to go to work every day and live without money.
Some policies can get paid pretty quickly, while others take weeks. Therefore, a new agent is expected to do whatever it takes to write and submit work. Still not getting paid. It doesn’t take long for him to quit his insurance business and get a more financially stable job.
3) Managerial Incompetence – one of the most difficult challenges for a sales representative is working under an incompetent manager. Often times, insurance companies promote managers from vendors who are good at selling. But sales and management are two different animals. You may be an excellent salesman, but you don’t know the first thing about management. I worked under managers who thought their job was to force you to sell. Sellers need guidance to keep them focused in their careers; Earn money as fast as possible.
Leaving. Learn how to win and fight until you win.