Home Forums Hunting & Shooting Hunter's Campfire self employed guys

i am expanding my insurance business into financial planning, as i said before. once i am in front of people i have no issues at all with helping them and/or selling/recommending things. the problem, as with all business, is finding new faces to sit in front of.

as we know, the fastest way to lose your shirt in any business is to fail to create a stream of new prospects who need/want your product.

would love to hear your ideas on how you overcame this obstacle and what systems your implemented to be successful.

Advertise. Get a loan if you have to. Brand your name with the public. Get a logo and brand yourself with at least 30,000 dollars worth of ads.

well in my case i am able to sell anyone's product but i am also affiliated with one company, who sponsors me with a broker/dealer so i can sell/service securities, so i really can't just go out on my own and make a brand. at least not yet.

advertise, if you have a solid local paper of some sort use that as its one of the only media people will specifically get for ads.....for small businesses with the prevalence of DVRs and TiVo, TV advertising is often a waste of money for the return you get.....radio depends heavily on the area and whether the customers your looking for listen to the specific station....billboards are a complete waste unless your a chain restaurant, hotel or tourist place....

may sound like a bit of a crock since i am a newspaper owner but for biggest bang for your buck newspapers are about the best place to spend advertising dollars followed by radio as a distant second(how distant depends on individual communities)....

I was self employed for 40 years in the heavy construction equipment business and I can tell you that advertising is a big waste of money.
I always tell people that want to know the secret of my success, "Just remember to ask for twofers". Whenever you are presenting your product to a [prospective customer, always ask them for the names of at least two other people that may want or need this product. They will always give you some names so as to not look stupid, or they will buy so the competition won't have the advantage of owing what you have to sell.
Write the names down andlong with the contact information and ALWAYS contact them and if you make as successful sale ALWAYS go back to the one that gave you the name and thank them for the lead.

With those "Two" ask the next two for another TWO names and before the end of the month you will have onehellofa hot list.

The other tip I can tell you, in the morning and looking into that mirror, ask that fellow in the mirror "What are you going to do today to make me money" You do these two things and you will do very well. And during the day when you thing about screwing off, ask yourself, "is this making me money"

W. Bill

heavy construction equipment is a bit different than insurance.....hell i would tell you taking out a full page ad in my paper would be near a waste of money.....course with the oil activity that might be changing a bit

Sales is sales is sales my friends

This.

I am also a self employed insurance agent, currently a captive for 20+ years, and going to go independent within 30 days. Satisfied clients are my best resource and are happy to refer friends and family.

Have you tried hiring little green lizards ?

For an insurance salesman to get to me he will have to get through the razor wire, rabid pit bulls, and machine gun nests.

My advice is to refer to yourself as a financial planner that also sells insurance.

If you don't have a web page, you need one. If you're not on facebook, linkedin, etc, you should be. Are you a member of a breakfast club, or service clubs? If not, join some. Are you a member of a church? Offer to do free planning for the congregation. All this has to do with networking. All those things are free or nearly so.

Whether you spend money on advertising or do as much free stuff as you can, always ask and note where folks heard about you so you will know what outlets are working the best for you.

Been self employed 35 yrs.


All business basically operates the same. You could sell insurance or fix cars like me. Doesn't really mean a helluva lot.

My advice is to always be upfront & honest with all you clients.

Always be nice, no matter how difficult this can & will be many times. People always remember a "decent nice guy" over and above the quality of your work, unless your work stinks.

These are 2 of the most important hints I can ever give anyone. It took me a couple years to learn how successful business operation & your perceived attitude towards your customers has a direct correlation.

Naturally being very good at your task, prudent operations ie; cost control, decision making, etc., and professional mannerisms are all important. Those qualities are all just a "given" imho if you are serious about owning your own business.

Also, a good business education background also makes it a lot easier right from the gitgo.

BTW...
Never gave too much thought to advertising. I'm not saying it can not be successful, just that I personally always relied upon word of mouth & recommendations. Works for me.

-Ken

The more people you know the better in the insurance business. Buddy of mine had 750 friends on Facebook when he started and now doing very well. I seen his posting on FB last year and he insures everything I own.

Newspaper here is a big waste of time and money. I am in the service business and can tell you billboards, TV, and radio rule for return on investment. I always ask for three contacts from a customer. I also offer $50 for a job referral.

capt ed, preaching to the choir. lately i have been fixing what jerks with dollar signs in their eyes have inflicted upon clients.

i have very few hard and fast rules but 1) put people first, and 2) always do the right thing, are 2 of them.

if you can't do those two things, don't even talk to others.


it's not about selling a certain product, it's about building a plan so your dreams and goals are within reach. i don't charge fees to do the work. basically i use a simulator to build plans and verify they work/fit, and then all i ask is that if the plan includes a product i can sell, that you consider me first.

very people centered and friendly. i love it. your whole financial world on one page and we make sure it's all going the same direction and working together to be efficient, as tax free as possible, and no more "financial junk drawer" to rummage through.

This is most important. If your a dick or non sociable, go plant tulips cause you'll never make it self employed.

I own a service business and a self- storage business. Don't care if my customers are [bleep], democraps or North East Yankees, I'm always nice and polite....... "Thank you sir, will that be check or cash".

Advertising and marketing are important but it is NOT enough to just throw a bunch of money at it. Think very carefully about the type/class of client that you want to attract then select a media that will best target them and craft a message that will trigger a response from them. When you have their attention you must deliver stellar customer service each and every time. Have a plan in place to recover if something goes wrong with one of your clients. Bad things happen but the ability to recover and make right separates the professionals from the amateurs. Get a marketing pro to help you if you have limited experience or knowledge in this area.

Most of the naysayers in this thread are actually talking about B to B advertising, which is very tough. B to C advertising is the lifeblood of retail business. No need to fear it.

Many years ago I had trouble finding a solid fee based financial advisor to answer my questions and provide advice.

Look online and the in local phone books to see what kind of competition you might have. You might get some insight for services that others aren't providing. Tailor your ads to fit a niche that isn't being filled as in questions about x, y, and z.

imho, no reason to pay someone a fee to do this work. they are still getting a slice of any product or account they open anyway. we are just as "impartial" whether you pay for the advice or not. we still have to do what's right for the client.

you don't pay the mechanic to tell you what's wrong with the car, you pay him to apply the "fix."

but yes, i will check out the phone books. not a bad idea. i know some guys pay google so they can be the first listing under a specific heading in a zip code.

with the ecosystem being burdened to the point of collapse, i always enjoy hear the financial planners talk about a safe and secure future for your old age, and for your children and grandchildren.

don't they know that we are approaching the tipping point? that is, we're consuming more than the Earth can produce. so, what's the plan, guys? if ya got a good one, i'm in the market.