| Message |
Author |
|
 Posted: Tue Mar 10, 2009 6:59 pm Post subject: Do Not Eat Your Seeds |
|
|
It would be stupid for a farmer to eat his seeds as food. Even if the farmer is hungry or starving he should not eat his seed.
I see some agents eating their seeds and having nothing to plant or harvest later. Every time you make some money selling insurance, put some of it away as seeds. You need seeds that you can plant later, to harvest another crop. You should always be planting your seeds.
It takes money to make money in this business. If you have no money to invest in this business, you will not survive for long.
I know some of you are behind on bills and need to spend every cent that you make trying to get caught up. BUT, it is also important to take some of the money to reinvest in your business. You always want to have some money aside to put back in your business.
I just wanted to give you something to think about. I hope this helps you.
_________________
Mark Rosenthal
IMO/Ins Agent/Agent Trainer/Free Advice
http://www.rosenthalfiles.com |
|
lifeagent911
Member
Joined: 26 Dec 2008
Posts: 94
Location: Georgia
38.10 Dollars($)
|
|
| Posted: Thu Mar 12, 2009 3:37 am Post subject: |
|
|
yep!! what a nice thought on the business....
when i was contemplating about "how i should put my business on hold it was really a zigmo question to answer but when i figured it out where i was lacking.the fact that i wasn't keeping any track of the money i was getting from business and had almost forgot to keep aside the quota which i must reinvest in the business in order to Grow.
Now with this thread i have got an inspiration to keep watch on my expenses and an urge to reinvest in the business which is necessary for the bigger prospective................... 
_________________
www.Parthaconsultancy.info
Its my personal website. |
|
amit
Senior member
Joined: 25 Jan 2009
Posts: 366
8.19 Dollars($)
|
|
| Posted: Thu Mar 12, 2009 10:59 am Post subject: |
|
|
Hi,
| Quote: | | I see some agents eating their seeds and having nothing to plant or harvest later. |
Good point! But then, how much of your earnings do you like to save? Any fixed percentage?
It is also important to know how you've planned to store this money till you consume it gradually.
ArindamSenIndies |
|
ArindamSenIndies
Senior member
Joined: 14 Feb 2007
Posts: 365
69.01 Dollars($)
|
|
| Posted: Thu Mar 12, 2009 10:02 pm Post subject: |
|
|
I don't save a fixed percentage, but I do have one of my commission checks direct deposited to an online money market account. I sell 1-2 policies a month with this company and it has built a nice emergency fund, and I never miss the money. If I ever needed to get to it, it would take 1-2 business days to post to my checking account. This discourages me from making impulse buys!
As far as the business side goes, I see many companies that start to cut costs when the economy goes south. It's hard for some to grasp, but when business is slow...it is time to increase your marketing efforts and dollars. You don't have to necessarily spend less, but you do have to spend wise. If you have several lead companies or several different techniques, analyze the ones that are working the best for you...and spend more money in those ventures. |
|
ChrisBantly
Senior member
Joined: 11 Mar 2009
Posts: 381
Location: Upstate SC
0.52 Dollars($)
|
|
| Posted: Fri Mar 13, 2009 4:02 am Post subject: |
|
|
| Quote: | | You don't have to necessarily spend less, but you do have to spend wise. |
Chris, you have said the most important thing. Not only one should perform it during the time of recession, but if we all had been bit wiser with our spending, we could have saved the economy from sinking. But since what's done is done, now we all have to thrive towards correcting our mistake.
~Jeremy |
|
JeremyHolter
Senior member
Joined: 06 Jun 2007
Posts: 1194
210.30 Dollars($)
|
|
| Posted: Fri Mar 13, 2009 1:32 pm Post subject: |
|
|
Dear Chris,
| Quote: | | As far as the business side goes, I see many companies that start to cut costs when the economy goes south. |
This is quite the fact today. Don't you think it happens only since nobody's sure when the economy's gonna revive!
I'd agree that they should all spend wisely under a crisis..but how do you go about choosing the techniques when nothing seems to work smoothly for you!
Don't you think it's time-consuming?
Bulldwarf
_________________
Register Now to have your Insurance queries solved. |
|
Bulldwarf
Guest
|
|
| Posted: Sat Mar 14, 2009 10:18 pm Post subject: |
|
|
| Quote: | I'd agree that they should all spend wisely under a crisis..but how do you go about choosing the techniques when nothing seems to work smoothly for you!
Don't you think it's time-consuming?
|
It is absolutely time-consuming...but it is also what distinguishes the successful businesses from the rest. If you continue to spend time and money on techniques that are not working, you're spinning your wheels and not getting anywhere.
Here's an idea to make it a little less time-consuming. Marketing efforts seldom offer a response immediately, so pace yourself. Strive to try one new advertising avenue a week...and keep in mind that it doesn't have to be a massive marketing effort. For example, call your top 10 clients and make sure they are pleased with the level of service you have given them...if they are truly thankful for what you have done for them - you can solicit some referrals from them. OR you can even offer come type of discount program or giveaways in exchange for referrals.
In this era, referral business in one of the best kinds and I'll tell you why...People are very weary of anybody in our field, worried about scams, and simply uneasy. If a close family friend or relative sings your praises, it almost immediately eliminates this concern (or helps).
I don't know what type of agent you are, so I'm hesitant to give you more specific marketing ideas...but you could even try a postcard program or a flyer drop off to local accountants. Find out what the local accountants specialize in (so you don't offer insurance to an estate planner) and see how you can help each other out. (BE CAREFUL...it is tax season and may not be the best time to distract a CPA...but they are seeing all of their clients that they haven't talked to all year!)
Try to come up with some networking opportunities and then place them into action. If you are a relatively new agent and even if you're not, make sure that you are spending an adequate amount of time on prospecting and revenue-generating activities. It is all too easy to get caught up in checking email, and doing paperwork...and then feeling like you have worked yourself to death (without really making any money!).
If you need any additional help, feel free to contact me! |
|
ChrisBantly
Senior member
Joined: 11 Mar 2009
Posts: 381
Location: Upstate SC
0.52 Dollars($)
|
|
