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Playing the leaders board games. Submitted v Issued Paid
Confused About which Company to Go With? Beginner Here
- Thread starter jm1080
- Start date
Playing the leaders board games. Submitted v Issued Paid
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This was about 7-8 years ago, so I'm just giving you a warning out of my own personal experience. I was so desperate to learn from real producers... that I didn't realize what was happening.
I was set up with an MDRT producer, former manager, and a CLF designation holder, who I was told needed help. (Certainly looked good on paper.) I figured that the more I could learn from someone doing the job, the better I would be. Seems reasonable, right?
Well, I was told that he had 20 open cases that he needed help on. Sounds good to learn from open cases than to prospect for new ones right now, right? Well, I think I had an issue with understanding him... or he didn't understand the term "open case".
To me an "open case" is when you have prospects/clients waiting for you to put proposals together so they can accept them or reject them. He figured that "open case" meant that he had 20 people who he TALKED TO about something. Big difference.
His prospecting methods... were 100% referral, which was good. Here's the problem: He couldn't teach me to duplicate his success. He spoke Russian... and he was tied into a sizeable Russian community as well as his Jewish synagogue.
There are certain ethnicities that will work with you because you are just like them. Russians are one of those. But I'm a white guy who speaks English. I needed to learn something that would work for me.
He was once asked to give an in-home presentation at a client's home to about 25 guests. He did that... and almost all of them wanted to follow up for individual one-on-one appointments! (Good job, right?) He never called to follow up... nor was I there for the presentation.
His methods were expensive. He actually sponsored a dinner for an association of Russian doctors (for $6,000) for the opportunity to present our services. If the pharmaceutical guy didn't completely blow his presentation first, it might've had some success. But he blew it, and about half of the doctors left the room because of how bad he worked his technology.
But because they were Russian... I knew it was up to HIM to follow up. I wonder if he ever did?
The casework was based on LEAP's Wealth In Motion... a very complex (and expensive) software program that took me HOURS to work on cases. (Again, I was desperate to learn... but I was going about this the wrong way.)
The MAIN thing I learned from him was how to structure life insurance policies for 'Infinite Banking' purposes. Although when he explained it, he made it sound a lot more complex than it really was... at least I was introduced to that concept when I was there.
The way he ran his business... was a cacophony. I could barely understand how he was profitable (with all the money spent). Oh, and we were sharing some of these costs too.
My experience was horrible, but I let it happen. And it was in part because, looking back, I joined an agency that had no idea how to train people new to the business... or those transitioning from a prior organization with a non-solicit in place. I didn't know what I didn't know.
So, pair up with a MENTOR... but NOT a partnership. Mentoring should involve asking questions about YOUR cases, getting help with your prospecting methods, and all the help to help YOU build YOUR business. Do NOT get into a 'partnership'... at least not until you have your own skills developed. Once you have your own skills developed, a partnership MIGHT be good... but until then, you may feel too dependent upon someone else for your success... and that's just no fun.
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1. You stick your hands in your pocket and pull out some cash.
2. The leads that I work, are what gets me in front of people, so that I can write an average of $30,00 in AP monthly. Therefore, I would have to say that my leads are proven to be effective! lol
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I've heard good things about your leads, BUT it's worth pointing out that you need the right type of leads, not just leads that are proven to work.
If you're at NYL you're probably not going to be trying to get in front of FE leads. That's just not the type of client that NYL is well suited with. I'd think some good quality MP leads may be a better match.
I know that when I've bought shared internet leads in the past I'm frequently up against someone from NYL so maybe internet life leads could be good for you too. Unfortunately I haven't seen internet leads be very good in general so unless you like wading through all the trash...
- 3,247
If you go back and read the OP from the start, and then read what I wrote, you will realize that I was pretty clear how I use my leads, for a targeted market, and how I was suggesting the op find a Niche market to target, the same way I do.
I would work a door knocking list before I bought shared internet leads.
- 1,411
I had the great luxury of beginning in the business as a broker, and was always a broker. I took my customers to the best products/companies for their need. Because I focused on providing good advice, and competitive products, it made selling easier, and I had happy, happy customers.
The problem is waiting for those first commissions to come in.
But unlike most other businesses that people start, you will have a positive cash flow sooner, rather than later. I was making my old income almost immediately, it just took time for the commissions for the first sales to come in. But once I was in the cash flow, I never looked back. Took about 3 months.
The problem is waiting for those first commissions to come in.
But unlike most other businesses that people start, you will have a positive cash flow sooner, rather than later. I was making my old income almost immediately, it just took time for the commissions for the first sales to come in. But once I was in the cash flow, I never looked back. Took about 3 months.
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