🩸

A History of Blood – Vol. 3, Chapter 16

A game used to make the Insurance Business more fun and productive, typically used in combination with the “One Card System”.

Activity over Emotions

Yesterday was a somewhat productive day, highlighted by three specific things:

1. Completing my application for the Florida 2-15 license (life, health, and variable annuities)
2. A new (charcoal gray) blazer I purchased from the thrift store
3. A business meal with the Brandon Missionaries of the Church of Jesus Christ of Latter-Day Saints

This article is essentially going to go over why each of these expenses wad important, what I did right, and what I did wrong.

For starters, let me explain what The Numbers Game is in the first place.

The Numbers Game assigns different point values to the core business activities, for the sake of helping keep new agents productive. Each activity is worth either 1 point or 2 points, with the goal being 10 points per working day. The activities and point values are as follows:

• New Prospect: 1 pt
• Completed FLS: 2 points
• Prepared Illustrations: 2 points
• Submitted Application: 2 points
• Business Meal: 2 points

On a technical level, the only activity that pays is applications submitted to the carrier. Naturally, the only way to submit applications to said carriers is to constantly get new prospects, walk each prospect through a standardized process. Business Meals, in particular are the best way to do that, while keeping costs to a minimum. That being said, there’s still an art to doing them correctly.

The main thing to note on a business meal is the following:

1. Who you met
2. Where you met
3. What you talked about

The beauty of business meals is that they can be elaborate: multiple course meals served by a waiter in a fancy restaurant— but they can also be simple; coffee or tea and light refreshments, bread and grape juice, an alcoholic beverage, or a even just a protein shake after a workout.

The secret is to serve something other than water, to serve something as substantial as the conversation, or to use the business meal as a transition into another social event or activity. For example, meeting someone for coffee then going for a walk, meeting someone for dinner then going to a movie, or meeting someone for drinks then going to a nightclub.

Ideally, the business meal is leveraged as part of a larger screening process, used as an opportunity to ask for referrals, or just as an opportunity to gain more information about the prospect. People tend to be more open and receptive to ideas when food is involved, especially when the food falls within their dietary preferences.

Reviewing my recent performance, I realized I need to do a few things:

1. Print out new business cards
2. Print out new Samples of Work
3. Practice filing out more applications

I have to remember the 3 to 1 rule of prospecting: for every 3 clients or client prospects, I need 1 agent or agent prospect. While the actual number is probably way higher (closer to 10 to 1) it’s important to make sure it never goes lower both for profitability and legal reasons.

Recruiting is probably the most important singular activity, outside of sales, when it comes to being successful in the insurance business long term. I haven’t audited my list of prospects in a while, but I plan to do so this weekend, just to make sure everything is above board.

I have a lot of administrative work to do, but also a bit of design work. I need to create a growth track that explains the promotion requirements as an Insurance Agent.

Everyone starts out as a Trainee.

As a trainee, the biggest focus is typically getting licensed. Without a license, you cannot market, nor can you earn commissions from the sale of insurance products. It’s important to also understand that you must be licensed in both the state you reside in, and the state you are writing business in, in the event you are talking to a prospect outside of the state you reside in.

Keeping the Numbers Game in mind, adding a prospect to the CRM is worth 1 point.

It’s worth noting that you do NOT need a license to recruit, add prospects to your CRM, or complete fact-findings. Getting in a habit of adding prospects to the CRM, creating a top 25, and completing the fact finding critical to having a successful sales system.

While I’m waiting for my Florida license to be approved, I’ll work on printing a sample FLS to get more comfortable with completing it. Again, keeping the Numbers Game in mind, the FLS (aka the fact-finding) is worth 2 points.

Without a license, this is as far as an agent can go.