First, let's get the basics out of the way. I'm selling individual health insurance, not group and although there's many ways to get leads telemarketing is not only the least expensive but most effective. I cannot stress enough, especially if you're new in this business, not to buy shared internet leads!
A bit about me: I'm 40 with a fantastic wife and five year old son. My wife is extremely supportive but truth be told I've been coasting in this business for a long time. Be it fear of success, fear of failure or just pure laziness I've been putting in - at best - 2 to 3 hour work days. Although that sucks to admit it's also what's exciting about deciding to pull my head out of my ass. If I can make good money being a lazy bum, what can I do if I actually work? I am extremely driven but like a lot of people "something" is blocking me mentally. I have a feeling that as I undertake this task my inner fears are going to constantly mess with me.
Telemarketing: I use Goleads - http://goleads.com single user account with is $.9.95 per month. This gives me unlimited leads around the U.S. and I can tweak them to businesses with less than 10 employees - which is key since I'm selling individual health.
Companies: I represent Assurant Health, Golden Rule, Coventry, Aetna and Carefirst Blue Cross. I get a commission advance from both Assurant Health and Golden Rule.
Office: Right now I'm home-based.....but that will hopefully change!
Failures: In the past I've tried to hire. I'm a general agent for Assurant and can get overrides if I put agents under me. The short of it is the time and effort it takes to train and support people destroys your ability to write personal business and pay goes in the crapper. I've also hired telemarketers which does work to a point, but you have to replace 'em like fry cooks at McDonalds which gets old fast. There is no worse way to make money then depending on others to write business. This doesn't mean I'll never hire again, but those plans are far off.
Goals: Even though I've done very well over the past 4 years I'm in tax trouble all the way back from 1998 and 1999 when I was an independent contractor and regional manager of a marketing company. The IRS didn't even contact me until mid-last year. Come to find, I didn't file proper returns and long story short, I'm on the hook for a crap load of money and currently have an installment arrangement. After paying my bills, current taxes and my installment payments I really don't have much left over.
Starting tomorrow, I'm going to start telemarketing myself using my $9.95 Goleads account. I also have a meeting set up on Tuesday to possibly sell Medicare Advantage plans through Bravo for dual eligibles. That could give me much needed advertising money.
The goal is simple, yet ambitious. I want to brand the "State Farm" of health insurance. No one has done it. While some agencies offer health it's by no means advertised or pushed. Instead, they concentrate on auto, home and life.
How will I accomplish that? Name branding in my area - ads plastered all over the place; print, billboard, local cable spots, local events. I eventually need a prominent store front location where clients can walk in and sit down with me. How expensive will all that be? I think my son says it best "one thousand hundred million dollars."
1 comment:
I wish you the best of luck and look forward to seeing your prosper.
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