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Life and Health Insurance Agent TIPS FOR BEGINNERS (3 Things You MUST KNOW Before Getting a License) - YouTube
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So if you're at the point in life where
you're thinking about getting into the life
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and health insurance business stay with
me because I'm going to talk with you
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specifically about the traits and
characteristics that one should have and
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the things they should be thinking about
if they're gonna get into this business.
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Hi, my name is Jeremy Smith and over the
last 15 years I've been an agent, a
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manager, owner operator of an insurance
brokerage, and for the last six or seven
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years I've been a business coach traveling
the country helping agents and agency
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owners grow their practices and today
I'm gonna try and help you grow yours. If
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you've been on YouTube before then you
know the game please hit subscribe and
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ring the bell.
So again if you're at that point in life
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where you're thinking about getting into
the insurance business you've got to
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figure out what's important to you. You
have to figure out what you're looking
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for. I can only tell you what I was
looking for and what was important to me
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when I was at that point in life and
maybe that'll help you a little bit in
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your own decision. For me, I had about
four or five things that were
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just musts for me. Number one, I'd been
self-employed most of my life
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and so a nine-to-five job it just wasn't
in the cards for me. I I've always been
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one that really valued the ability to
control my own time. I've been on
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enough sales jobs that I knew that I
wanted to be able to control how much
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money I made and more importantly I want to make sure that there wasn't a ceiling
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on how much money I could make. I wanted the sky to be the limit for me. I wanted
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to make sure and this may or may not be
important, but to me I want to make sure
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I left a footprint that when I'm gone
from this earth that I could look back
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or my kids could look back and say he
did something you know in a career like
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this on a weekly basis if not a daily
basis I walk out of people's homes and I
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know that I helped to change somebody's
lives. There's a really big benefit there
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that some people don't realize until
they have it. Obviously, I want to make
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sure there was a market place for where
I was gonna go into then my new career
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at. And in this business, the baby boomer
bubble kind of solidified that baby
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boomers are really who our target market
is and obviously I knew that with that
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being our target market, I knew we were
going to have clients and people
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needing my services for as long as I
plan to be working. And then the final
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thing is I wanted to make sure that
there was a plan for how am I going to
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get in front of those people, a marketing
plan. Those are just some of the things
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that I was looking for. Again you've got
to figure out what's important to you.
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So now let's talk about some traits or
some skill sets that if if those things
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that I just mentioned are you share and those are important to you,
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let's talk about some things that you
may want to take a self-reflection on
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and see if this person is you because
these are some skill sets that I think
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are almost mandatory if you're going to
become an insurance agent in a life and
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health field. Number one: you need to
understand and realize that there are no
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guarantees. There's no financial
guarantees okay so you better have a
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little bit of money set aside because it
could be a couple two or three months
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before you really start making any
consistent money. And you better have
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some thick skin. In our business,
marketing is everything and there is no
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way around using the phone okay. You're
gonna call a lot of people for a lot of
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days and a lot of weeks of your entire
career. It's a monotonous job sometimes.
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And you're gonna get told no a lot. You
got to be okay with that. You got to be
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able to swipe that off your back and go
to the next phone call. You've got to be
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able to multi-task. My day to day is all
over the board: from setting appointments,
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to running appointments ,to running the
business, and everything in between.
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There's just a lot of things that come
with being an insurance agent and
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especially if you're talking about
actually building a practice. Again you
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got to have strong phone skills. The
thick skin isn't always just on the
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phone. It's also in homes sometimes. And
you've got to be
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willing to continually learn. I've
been in this business for 15 years and
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I'm still learning every single day.
You've got to be able to get your mind
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practice where every single day for 15
minutes when you start the day you're
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just reading about things and learning.
It's a never never ending learning
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process in the retirement planning
practice or in the insurance business.
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You've got to have a major focus on
detail and I know that flies in the face
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of a lot of you type A personalities and
so if that's not a normal characteristic
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for you then to me the only fix on that
is having an attention on FOCUS okay
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and building systems out. It
organizes your day a lot better. Again
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money management skills. I've talked a
little bit about that, but here's the
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deal... I don't care if you've been in this
business for a month or you've been in
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this business for a year, you are gonna
have a rollercoaster. When you look at
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the income on your bank statements
there's good months there's bad months
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and sometimes there's droughts. There's
gossip probably as long as you're doing
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all the right things you're gonna have
some great months but you better be able
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to save some money from those great
months to get through the bad months.
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Money management skill is so vital when
becoming an all commission insurance
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agent. I look at the first year as a game
of survival. If you can get past
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that first year your life is gonna be so
much easier. In fact I normally tell
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people if you can get past that first
year you're probably gonna retire in
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this business because there's two or
three things that just happen that makes
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life so much easier in year two from
year one. Number one is a little thing
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called residuals. At some point in
probably month thirteen depending on
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exactly what you're selling you're gonna
start getting paid a little bit of
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money from a sale you made a year ago.
And so money is gonna become a little
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bit easier the longer you go. Especially you get into year two and year
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three it just gets easier and easier
because your residual income gets bigger.
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Time is a big one. Right when you're
first starting out you're doing so many
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things. You're learning so many things.
You're trying out so many new things.
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After that year it just things start to
kind of click. Maybe a little bit earlier
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than a year. Maybe month ten, eleven,
twelve things just click for you. You get
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it and can do things in half the time which
means you can do more of the things that
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make you money. And the final thing is if
you're doing it
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right and you're building a database of
clients instead of a database of sales
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what's gonna happen is is not only
you're gonna have residuals because your
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policies that you've sold them are gonna
stay on the books, but you're gonna start
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to build a book of people that look at
you as their adviser and give you
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referrals and help you build your book
even bigger. Okay I think that these are
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some real big characteristics some
traits and some skill sets and just some
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big tip items that you need to be
thinking about if you're thinking about
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getting into this business. I'm obviously
bias. I think it's from a timing
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standpoint with the baby boomer bubble
still happening I think it's one of the
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greatest industries you could possibly
get into, but you've got
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to be willing to do the things we just
talked about. And if you can't do those
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things, it's gonna be really hard for you.
Okay I hope that the things we talked
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about fit you. I hope you find a way to
get into this business. It is such a
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great, rewarding, lucrative business in so
many ways. I hope this video hit home
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with some of you. If so please do me a
favor and like and subscribe and we'll
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make sure you have access to our whole
library of videos that we're putting out
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for everybody in this field.
Hope you have a great day and we look
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forward to seeing you in the next video.
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