If you have decided to pursue a career in selling insurance products, congratulations. You have made choices that can have a positive impact on your future, finances and family.
I wish I didn’t have to tell you that, but you also decided to present one of the most difficult experiences in your life.
Disappointment. And why am I saying this?
Because the longer you live in this business, the more likely you are to say, “I’m ready to quit selling insurance.” But why? Why do more than 80% of licensed and insurance companies leave within the first year? Let me give you some reasons to consider:
1) Rejecting potential customers – You will need thick skin to do this business because you will hear the phrase “no thank you” so many times when you start thinking it’s your name. People usually don’t run out to buy insurance. They need to be convinced that this is something they should seriously consider now. The only customer who really knows the importance of insurance is the person who directly suffered a death or illness but did not have insurance. It won’t be most of your customers, so they will say it less often. Get us!
2) Financial failure – Most insurance companies are extremely wealthy. Much of the reason for this is that the industry receives most of its business from vendors but does not guarantee pay. If the seller does not sell, he does not pay. This means that, as a salesperson, you need to have the financial resources to commute daily, take care of your car, pay for phone service, wash your clothes to look prettier in front of customers, pay household bills, and eat without getting a job. penny for your efforts. Most of us cannot afford to go to work every day and manage our living expenses without making money.
You can pay for some policies fairly quickly and for others for weeks. So the new agent is expected to do whatever he needs to write and submit business. However, he does not receive any money. Not long after, he no longer carries on an insurance business and starts working with greater financial stability.
3) Manager incompetence – One of the toughest challenges for a sales agent is working with an incompetent manager. Insurance companies have repeatedly pushed managers away from salespeople who sold well. But sales and management are two different animals. You may be a great salesperson but you are not sure about management first. I worked for managers who thought their job was to push you to sell. Salespeople need career guidance to focus on the goal; make money as soon as possible.
Don’t throw it away. Learn how to win and fight before you do.