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You weren't joking about your generosity!
A quote I heard from another agent a few months back ...
"Short term greed kills agencies/IMOs/FMOs in this business"
Does anyone Know of a Million Dollar Medicare Producer??
You weren't joking about your generosity!
A quote I heard from another agent a few months back ...
"Short term greed kills agencies/IMOs/FMOs in this business"
I can see why that would matter for sure. You could take the 55 / .18 or so for close rate to get total leads needed, but so many variables on that including lead type, does the agent have all carrier types...etc.
Divide that production by 4 and let consistency and time do the rest and in 5 years you'll still have a fantastic residual income. As for FE as I mentioned I know very little of it as I've always done Med Supps, but if people enjoy it and can meet their financial goals without sacrificing too much to get there I say absolutely go for it.
Is anyone writing massive volume of FE by phone all day? If so that's the guy or gal's brain I'd like to pick. I remember back 5 years or so there was a guy doing that...FE by phone. Not Pajama man, but I remember him reminding me of Pajama man...
Believe it or not it's easier said than done. Finding the right people was NOT easy, in fact I even avoided building an agency back up for quite some time. A few years and lots of legal later here we are.
Greed and ego's seem to go hand in hand from my experience. I'm generous but I do stretch my agents comfort zones continually (sales, business, and personal development), and thankfully they always rise to the challenge. They know that in order to get the compensation, they need to deserve the compensation. I don't get paid an extraordinary amount unless I do extraordinary things, so neither should they. It's win-win.
I simply treat them exactly as I would wish to be treated (and was not in many jobs I've had) as a top producer.
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Okay thank you. So that what basically the info I was trying to pull out if it wasn't too obvious.
Which pretty much throws the entire comparison out the window if one wishes to know how many deals per hour FE vs. Med supp. per day.
Sounds like 8 per week for the top producer that we know of on FE. Maybe there are others.
The monkey's numbers are better than mine. Here's a thread JD started congratulating Spur City on a half million for 2015. If you go to post #11 Spur said it was exhausting and that he wouldn't aim that high for 2016.
http://www.insurance-forums.net/forum/final-expense-forum/brag-spurcity-thread-t79502.html
The challenge in a sales management position is finding the right people. Years ago (early to mid-90's) when I was a sales manager, I was amazed at the guys who were happy with $400 per week in income. I'd get out and work with them for a week and we'd get their income up to $700-$800 per week. Within a month it would be right back down to the $400 range. It's always a challenge finding what motivates a person. As you said, it isn't always about money.
There was an agent in the office who would say regularly
"you can't change people, but you can change people".
And that's what it sounds like you've done. You've gone through several agents to find the right ones. Good for you on that. It's also my understanding that you provide them with all the necessary tools to succeed. That separates you from many. The way you talk about what you do for them reminds me of a good friend and client. He has a software company (he developed admin software for schools - mostly used by private schools and small colleges). He has always been very good to his employees. He has paid them well and covers 100% of their health insurance (and their spouses and dependents). He lets his customer service people work from home. He has created an environment where the employees don't typically look for other work.
Back to the topic of the thread, while the idea of making seven figures is appealing, I don't know if I want to work that hard. I make, what I consider, pretty good money. I don't work hard anymore (except for during AEP). I try and play as much golf as I can (I only play during the week - too crowded on the weekends). I'm a home body but my wife likes to travel. I have three trips planned this summer. One is more for me. It's a trip to Ponte Vedra to play TPC Sawgrass. One is to St Lucia at a Sandals resort and one is going to be a week in Destin to play golf several times and culminate in my best friends wedding on the beach. These are the things that are motivating me more than money these days. Time is now more important to me. Funny how I started thinking that way when I got to my 40's.
As I said, I'd love to make seven figures, but not if I can't enjoy it. If I can be efficient and stay at my current income level, I'd be satisfied. I make more than I ever imagined I would. I don't say that in a boastful way. Just that I've come to the conclusion that income isn't the most important thing. Funny thing is, 10 years ago if I heard someone say that I would have concluded that person is making excuses for why they haven't made a good income. Kind of an excuse for failure. Now I completely get it. And I'm far from a failure by the world's standards.
Oh well, enough rambling. That was my two cents.
Sounds to me like you have it nailed down perfectly! This thread is obviously about making $1MM in residuals, however that's the beauty of it. Somewhere along with way of that amount, or any amount up to it, successful people begin to realize it's not about the money at all.
That's Maslow's hierarchy of success. It all becomes about self-actualization. And the quicker you can determine what is is you REALLY want, the better.
Hearing Brian Tracy say years ago "Define what will give YOU peace of mind, and build your personal and professional life around that." changed my life forever.
I work a lot, but I absolutely love what I do and it's like play to me. But now I also have the freedom to do whatever I want, whenever I want. That's my peace of mind.
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Exacccctly...who needs that type of stress & hours to put in to make that kind of money? And if your goal is a 1mil/yr....find a less stressful way to make up the diff, while making 200-400k in medicare. Find a hobby, and have fun with it, while making money. I like what I do, love it, but its not "fun"....poker is fun!
I mean if you got to 1000 clients & you're now making 250-350k in just RENEWALS ALONE, and u feel u need to make 2-3xs more then that (to make 1 mil), what kinda life are u trying to live? I cant think of 1 simple thing that I CANT do with 300k/yr? Again, Im simple, I dont need a lot of "things" in my life...others do, I get it.
And once you have 1000 clients, you'll getting another 50-150/yr in referrals alone, which replaces all the ppl who may have passed away or switched with someone else. So during AEP, if you add say 50-100 more ppl, you are still growing your biz by 5-10% a yr, all while really only working 7 weeks a year.
But yall still wanna work hard enough to make a mil? Maybe Im lazy, but Ill pass! Give me Scott's life with a lot of golf & poker, a really nice house, Tesla Model S, and Im good. I can EASILY do that on 300k/yr & more.
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Well, we have all discussed HOW to do it but it appears that the answer to the original question, "Does anyone Know of a Million Dollar Medicare Producer??", the answer is, "no".
Either that or "yes". Mr. Westfall refers to getting his residual income to a $Million per year just recently.
Click here and go to about the 5:55 mark of the video for 5/29:
LIVE Medicare Supplement Sales Training | Technology, Sales, Clients
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Saying it doesn't make it fact.
No. But Chris W. is very respected. I believe him.
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