Achieving Success

Thus far this week has been going very well for me. I have put in $9500 AV this week and it is only Wednesday! $500 AV more and I reach my minimum production goal, another $10,500 and I will reach my top goal for the week.

Right now I am in the process of developing my website. I thought about hiring somebody to design my website for me until I came to the conclusion that I like to be in control, and it is also a nice break from the insurance business. I am currently using Blue Voda and expect the site to be completed within 2-3 weeks.

The last few days have been spent revamping my marketing campaigns and deciding which avenues I will pursue. Thus far I have been working internet leads for the past 3 months and that has stopped recently due to a variety of reasons. In case you don't know, internet leads are primarily comprised of people who either went online searching for quotes for health insurance, or they were solicited via a banner or e-mail and they they filled out a form to receive more information. Here is what I have learned thus far from that working with those types of leads. Internet leads are profitable, but they are a pain in the ass for the following reasons.

1) Approximately 70% of the leads I received failed to produce any form of verbal communication. In other words, out of 100 people I was only able to talk to 30 people.

2) Of those 30 people, 28 were either broke or uninsurable due to health conditions.

3) On every call that I was successful in talking with a prospective client I was competing against 3-6 other agents from various parts of the country. Normally I could care less about the competition because I know how to put the ball in my court. However, when you dealing with agents who will lie and cheat people to get a deal because their car payment is due, it kinda puts a damper on your approach to business if you are ethical.

4) It could take weeks to get in contact with somebody and that does sap your energy as the weeks continue.

This is not to say that internet leads are bad because they do produce a profit. It is just the mental energy you have to continually produce to put up with it is quite taxing. For the time being, I will not work any more internet leads and have decided to get back to the basics of producing my own leads via cold calling. I aim start to hire a few girls to increase my telemarketing efforts in September. Here are my conservative numbers based on my production alone.

I WILL get a minimum of 10 leads a day cold calling in a few areas I have targeted on the east coast.

I WILL work my way up to getting 3 appointments a day.

I WILL get work my way up to getting one sale a day for 6 days a week (Monday-Saturday).

I estimate that it will take 20 leads to get one deal. At an average $3500 AV that will yield me $10,500 AV for the week netting me between $2100 - $2625. At a standard 40 hour work I will gross $52.50 - $65.62 p/hour.

If I can produce 10 leads a day for 6 days a week I should produce approximately 60 leads getting me halfway to my goal. Taking that number and multiplying by 2.5 (built in BS factor) tells me that I need to find a way to get 150 leads a week. I have a few ideas how to get there but it's going to take some time.

I'm off........