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What follows is really for me. I would have written these notes to myself anyway as part of my new-found commitment to my business that started at the end of November when I decided to have a December to Remember. I am sharing it here on the off chance that it might prove helpful to some other rookie down the road. If you are a veteran and find it too long, just skip it and have a Happy New Year instead!
That's a Wrap!
A slow week both at the doors and for appointments. Made a few sales and I did finally break that $25K monthly production barrier but I am still well short of the $30K I know I can do.
I did manage to deliver all but two of the policies I had in my possession, with appointments for Monday morning to deliver those two. I still have about six policies that have been issued but not yet received by me that I will need to deliver over the coming weeks.
I did a policy delivery yesterday that resulted in the client calling his brother who made an appointment to meet with me next Thursday. During another delivery, the client added another $8000 in coverage to the $17,000 she chose on my first visit because she decided she'd rather have "an even $25,000" for her family.
It doesn't happen all the time, but it does happen. And between those cases where the client does an "after the sale bump" of themselves plus the referrals I manage to get I plan to continue to do policy deliveries even as my production increases. However, it was certainly easier and less time-consuming doing 4 to 5 policy deliveries per week than doing 8 to 12.
Going forward ... Production
My average monthly production had been stuck right around $12K, or $3000/week. Not bad, but certainly not a best effort on my part. I am of the mind now that if I work a full-time, full month effort in this business with my current lead flow, $20K, or $5K/week should be the minimum level of production. @Baseball7 had said this to me over a year ago - that given 20 leads per week, a full time door knocking agent could write $5K/week.
At the time, I figured that he was a seasoned vet and I was a mere raw rookie, so I allowed myself to work to a lower level. It was, I see now, an excuse to be lazy, unproductive, or ineffective - or some lazy, unproductive, ineffective combination of the three.
For what it's worth, I believe that he usually writes his $5K by Wednesday, starting on Monday. I did manage to write more than $5K each of the full weeks I worked in December. However, except for that one extraordinary Saturday, it took me considerably more time in the field than three days to write $5K. In other words, my rookie still shows through.
What I Did Differently ...
I worked...
I worked and I worked and I worked.
When in my car, I took Brian Tracy's advice from many years ago and I turned my car into a "University on Wheels." I listened to a bunch of training from @SPUR CITY, @Agentguy5, and @Rearden about work ethic and production throughout the month, and the common theme throughout was the polar opposite of this being "an easy money part-time gig." Each of these guys really emphasized that to put up big numbers you have to see a lot of people, and to see a lot of people, you have to be in the field at appointments, knocking on doors, or on the phone setting appointments to see people in the field.
I can say I was not working nearly the number of hours required for me to do those numbers. Others can do $4k/week on two days in the field - and I do believe they can and do. Maybe some day I will be one of them. But right now, as a new agent, I need to work, work, work. 60+ hours/week over 5 1/2 days/week is the schedule that helped me break into a higher level of production.
I committed ...
Not only did I work harder, but I committed to the work. I decided I was going to be the best Final Expense Agent I could be.
From Matt Mungia, I learned a better way to conduct my presentation - more of an old school "start with a blank sheet of paper" approach (as an aside, I believe I may have posted once or twice here on the forum early on that I didn't think that could be an effective approach for FW - lol @metherookie!).
I took better notes during appointments, and I learned from Dave Duford to ask better questions of my prospects during the presentation.
At night, I'd finish my days by studying an application and an underwriting guide from one of my carriers so I could be a better field underwriter.
I kep the studying to non-productive time, and used every minute of productive time getting in front of a prospect or trying to get in front of a prospect.
Everyday I got better and stronger with respect to both my presentation and my ability to write a case. For example, I am now at the point that other than HIV or current cancer, I can just about get every prospect at least some form of true graded plan rather than resort to using an ROP GI plan too often. I do occasionally throw a life line up to my up line, but it is rare that I need help in the field with an FE case.
My average presentation went from nearly 2 hours to about forty-five minutes. Thanks to @jdeasy and one of Duford's youtube videos, I also cut out more quickly if I feel I do not have a qualified prospect in front of me.
Happy New Year, $250K Producer-to-be!
I will remain committed to being the best Final Expense Agent I can be. That means I am committed to the work, the hours, and to improving my presentation and underwriting skills continually.
My licenses renew at the end of February. In my state I have to complete a certain number of continuing education hours before I renew. I have completed some but not enough.
A number of carriers emailed me this week to let me know that in PA, additional annuity training will now be required in order to maintain those appointments for those products. I have yet to write an annuity, but a number of agents in my IMO do quite a bit of this business, even while primarily doing Final Expense. One of my goals for 2019 is not only to be the best Final Expense Agent I can be, but to lay the groundwork for becoming The Best Insurance Agent I can be - and an ability to help my clients with annuities might be a necessary skill to achieve that goal.
So over the next 8 weeks I will be completing my CE credits for license renewal, several of those will be earned by taking the Annuity Suitability course required by my carriers. I mention this only because I have to complete the CE - But it needs to be done during non-productive hours only. I cannot use "I need to do my CE" as an excuse not to work!
As I said above, "I will remain committed to being the best Final Expense Agent I can be. ... I am committed to the work, the hours,..."
BUT ...
I do know myself enough to know that part of what made the effort required to make this a "December to Remember" more easily possible is that I live in the Northeast, and the number of good golfing days is greatly reduced in December. This is also the case through most of January and February (many of the course I play are closed during these months regardless of the weather), and depending upon the winter we have here, I can often play very little golf even into March and the beginning of April.
By May, however, the temptation is great. If I have $3-$4K in the bag and it is Tuesday, I can just about guarantee I'm going to want to play at least 9 if not a full 18 holes on Wednesday. And Thursday. And Friday. And of course, my son can only play on weekends during the school year, so Saturday means ... more Golf!
Therefore, I have to set the tone for the year early, and recognize that sometime around the beginning of May, I will have no choice than also to give time to my commitment to be the best golfer I can be as well.
If I want to be a $250K+ producer next year, I need to "front load" the year.
Therefore, I am naming my next chapter in my quest for FE Excellence:
For now, I am off to the driving range to say good bye to my golf swing for the season. It always takes offense that I pay it no mind during the winter months, and frequently does not return to me until well after I return to the course in the Spring.
That's a Wrap!
A slow week both at the doors and for appointments. Made a few sales and I did finally break that $25K monthly production barrier but I am still well short of the $30K I know I can do.
I did manage to deliver all but two of the policies I had in my possession, with appointments for Monday morning to deliver those two. I still have about six policies that have been issued but not yet received by me that I will need to deliver over the coming weeks.
I did a policy delivery yesterday that resulted in the client calling his brother who made an appointment to meet with me next Thursday. During another delivery, the client added another $8000 in coverage to the $17,000 she chose on my first visit because she decided she'd rather have "an even $25,000" for her family.
It doesn't happen all the time, but it does happen. And between those cases where the client does an "after the sale bump" of themselves plus the referrals I manage to get I plan to continue to do policy deliveries even as my production increases. However, it was certainly easier and less time-consuming doing 4 to 5 policy deliveries per week than doing 8 to 12.
Going forward ... Production
My average monthly production had been stuck right around $12K, or $3000/week. Not bad, but certainly not a best effort on my part. I am of the mind now that if I work a full-time, full month effort in this business with my current lead flow, $20K, or $5K/week should be the minimum level of production. @Baseball7 had said this to me over a year ago - that given 20 leads per week, a full time door knocking agent could write $5K/week.
At the time, I figured that he was a seasoned vet and I was a mere raw rookie, so I allowed myself to work to a lower level. It was, I see now, an excuse to be lazy, unproductive, or ineffective - or some lazy, unproductive, ineffective combination of the three.
For what it's worth, I believe that he usually writes his $5K by Wednesday, starting on Monday. I did manage to write more than $5K each of the full weeks I worked in December. However, except for that one extraordinary Saturday, it took me considerably more time in the field than three days to write $5K. In other words, my rookie still shows through.
What I Did Differently ...
I worked...
I worked and I worked and I worked.
When in my car, I took Brian Tracy's advice from many years ago and I turned my car into a "University on Wheels." I listened to a bunch of training from @SPUR CITY, @Agentguy5, and @Rearden about work ethic and production throughout the month, and the common theme throughout was the polar opposite of this being "an easy money part-time gig." Each of these guys really emphasized that to put up big numbers you have to see a lot of people, and to see a lot of people, you have to be in the field at appointments, knocking on doors, or on the phone setting appointments to see people in the field.
I can say I was not working nearly the number of hours required for me to do those numbers. Others can do $4k/week on two days in the field - and I do believe they can and do. Maybe some day I will be one of them. But right now, as a new agent, I need to work, work, work. 60+ hours/week over 5 1/2 days/week is the schedule that helped me break into a higher level of production.
I committed ...
Not only did I work harder, but I committed to the work. I decided I was going to be the best Final Expense Agent I could be.
From Matt Mungia, I learned a better way to conduct my presentation - more of an old school "start with a blank sheet of paper" approach (as an aside, I believe I may have posted once or twice here on the forum early on that I didn't think that could be an effective approach for FW - lol @metherookie!).
I took better notes during appointments, and I learned from Dave Duford to ask better questions of my prospects during the presentation.
At night, I'd finish my days by studying an application and an underwriting guide from one of my carriers so I could be a better field underwriter.
I kep the studying to non-productive time, and used every minute of productive time getting in front of a prospect or trying to get in front of a prospect.
Everyday I got better and stronger with respect to both my presentation and my ability to write a case. For example, I am now at the point that other than HIV or current cancer, I can just about get every prospect at least some form of true graded plan rather than resort to using an ROP GI plan too often. I do occasionally throw a life line up to my up line, but it is rare that I need help in the field with an FE case.
My average presentation went from nearly 2 hours to about forty-five minutes. Thanks to @jdeasy and one of Duford's youtube videos, I also cut out more quickly if I feel I do not have a qualified prospect in front of me.
Happy New Year, $250K Producer-to-be!
I will remain committed to being the best Final Expense Agent I can be. That means I am committed to the work, the hours, and to improving my presentation and underwriting skills continually.
My licenses renew at the end of February. In my state I have to complete a certain number of continuing education hours before I renew. I have completed some but not enough.
A number of carriers emailed me this week to let me know that in PA, additional annuity training will now be required in order to maintain those appointments for those products. I have yet to write an annuity, but a number of agents in my IMO do quite a bit of this business, even while primarily doing Final Expense. One of my goals for 2019 is not only to be the best Final Expense Agent I can be, but to lay the groundwork for becoming The Best Insurance Agent I can be - and an ability to help my clients with annuities might be a necessary skill to achieve that goal.
So over the next 8 weeks I will be completing my CE credits for license renewal, several of those will be earned by taking the Annuity Suitability course required by my carriers. I mention this only because I have to complete the CE - But it needs to be done during non-productive hours only. I cannot use "I need to do my CE" as an excuse not to work!
As I said above, "I will remain committed to being the best Final Expense Agent I can be. ... I am committed to the work, the hours,..."
BUT ...
I do know myself enough to know that part of what made the effort required to make this a "December to Remember" more easily possible is that I live in the Northeast, and the number of good golfing days is greatly reduced in December. This is also the case through most of January and February (many of the course I play are closed during these months regardless of the weather), and depending upon the winter we have here, I can often play very little golf even into March and the beginning of April.
By May, however, the temptation is great. If I have $3-$4K in the bag and it is Tuesday, I can just about guarantee I'm going to want to play at least 9 if not a full 18 holes on Wednesday. And Thursday. And Friday. And of course, my son can only play on weekends during the school year, so Saturday means ... more Golf!
Therefore, I have to set the tone for the year early, and recognize that sometime around the beginning of May, I will have no choice than also to give time to my commitment to be the best golfer I can be as well.
If I want to be a $250K+ producer next year, I need to "front load" the year.
Therefore, I am naming my next chapter in my quest for FE Excellence:
The I Love Door Knocking
$100,000 in 120 Days, "That's a lot of Bacon"
January Through April Extravaganza Thread!
I'm not sure I'm actually going to do another thread like this for January-April 2019, but that is my goal: To do the activity required to write $100,000 in issue & paid business between January 1, 2019 and April 30, 2019. If I accomplish that, then using my old average as a production floor for May through August, and then another $100,000 run September through December, I will hit my $250K goal with potentially a few grand to spare.$100,000 in 120 Days, "That's a lot of Bacon"
January Through April Extravaganza Thread!
For now, I am off to the driving range to say good bye to my golf swing for the season. It always takes offense that I pay it no mind during the winter months, and frequently does not return to me until well after I return to the course in the Spring.
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