Life as an insurance agent can be good. There is a large degree of independence offered, and the residual income is attractive. But getting started in the insurance business isn’t always easy. Many new producers quit in their first year. How can you make it and build your sales as a new agent? Here are four tips.
Be Willing To Work Hard In The Beginning
In many ways, it’s like you are starting your own business. Expect to work more than the standard 40-hour work week. The benefit is that, unlike a traditional business, there is no financial investment required. You’ll only be required to put in your time and effort.
Manage Your Time Well
Since you’ll likely be putting in many hours every week and since there are only so many hours in the day, you’ll need to make sure you are productive during those hours. Setting a clearly defined schedule is essential. In order to make progress building your book, it’s also important to identify who is a good prospect and who is unlikely to become a customer.
More Than A License – Learn The Business
As a new producer, you’re only required to get the proper licensure. In reality though, being successful requires a complete set of skills. You’ll use the longer hours mentioned above to learn the business side of insurance – and you’ll need it. It’s a competitive business, but you can be successful if you learn how to sell and retain business.
Prospecting Is Key
While it might seem obvious, it can’t be overemphasized: prospecting is essential and ongoing. It’s a numbers game that also requires an optimized approach. While as a new agent you can hand out a business card to everyone you meet, it can be helpful to identify the best lead for your products to make sure there is a good fit.