| If you are a newbie in insurance business, welcome | | | | natural market is that you can connect with your |
| aboard. It is important for you to position your business | | | | natural market on a personal level and you can easily |
| in the fast lane so that you can grab whatever | | | | build rapport with them. |
| opportunity that comes along to further build your | | | | The second strategy is to look for people who have |
| business. | | | | common background, demographic, network or needs. |
| How should newbies begin insurance business? | | | | Study their demographics and identify their needs in |
| (a) Have dreams and goals | | | | common and plan your sales approach. |
| First and foremost, you need to define the purpose in | | | | (e) Focus on one or two products |
| your life and how this business can help realize your | | | | You can't be master of all trades in short period of |
| dreams and goals because you believe no other | | | | time. Be a specialist in only one or two products. Ask |
| careers offer such opportunities. | | | | yourself which products are you comfortable with. If |
| Your dreams are like a light house that helps you | | | | you do not believe in the products you are going to sell, |
| navigate the direction in the dark and turbulent stormy | | | | you can't convince your customers to buy. |
| ocean. Your goals give you the energy you need to | | | | You can choose property and casualty to start your |
| do your best. The life without any dream or goal is not | | | | business and over time build up a large clientele. |
| worth living. | | | | Alternatively, you can go for traditional life insurance if |
| (b) Formulate a marketing plan | | | | you are disciplined and willing to work hard. |
| Insurance sales business is just like any other forms of | | | | If you have a lot of business contacts or network, you |
| business where you are required to think and plan like | | | | can consider group health insurance. If you are very |
| a business person. You need to write down your | | | | comfortable with senior market, you may focus on |
| business goals in your marketing plan. Goals set must | | | | Medicare products and final expense. |
| be clear, realistic, achievable, measurable and with | | | | Once you do well in any one of these products, you |
| deadlines. | | | | can move on to branch out into other product lines. |
| Perform a self analysis to identify your own strengths | | | | (f) Focus on your prospecting method |
| and weaknesses. Formulate marketing strategies | | | | There are a number of prospecting methods such as |
| based on your strengths. A well thought marketing plan | | | | personal observation, seminar, cold calling, direct mail, |
| is your blueprint for success. | | | | getting referrals, networking, centers of influence, |
| (c) Plan for your monthly, weekly and daily activities | | | | internet leads etc. |
| As an insurance agent, it is important for you to see | | | | Some prospecting methods such as direct mails or |
| the people. However, seeing people is not the only | | | | internet leads may incur substantial amount of cost. |
| business activity you have. Typically, an insurance | | | | Unless you are very sure such prospecting methods |
| agent needs to spend time setting appointment, | | | | can bring you the results you want, you may like to |
| attending meeting or training, handling paperwork etc. | | | | start with personal observation or getting referrals etc. |
| In managing such a wide array of activities, you may | | | | (g) Be competent |
| apply time boxing strategy. You can divide a day into 3 | | | | Learn all you need to know about selling. Master all |
| time slots: morning, afternoon and evening. If you | | | | sorts of skill sets from telephone skills to fact find skills, |
| decide to work 5 1/2 day a week, you may have 16 | | | | from presentation skills to closing skills. Practice and |
| time slots in a week to carry out all your business | | | | practice till selling becomes your second nature. Follow |
| activities. | | | | the sales system. You can never learn too much. |
| For example, you may decide to set appointments say | | | | (h) Winning attitude |
| on Monday afternoon and Thursday morning and then | | | | Everybody can learn how to play tennis, but not |
| meet with customers on other days. You may also | | | | everybody can win the game. It requires |
| allocate appropriate nonprime hours or time slots to | | | | perseverance, confidence, courage, determination and |
| handle paperwork. | | | | all other winner's qualities to excel in your sales |
| Being an insurance agent, your most valuable capital is | | | | business. |
| time. Manage your time and you manage your wealth. | | | | To sum it all, insurance business requires careful |
| (d) Focus on your market | | | | planning and execution. Once you set your action in |
| You can start with your natural market or people in | | | | motion, do not let distractions stand in your way but go |
| your network. The advantage of working with your | | | | all way out to achieve your dreams and goals in life. |