Newbies need a market – know it, own it, become the expert and do not deviate.
Generalist, just like in medicine never make the kind of income “specialist” do. Thus do Doctors only, Architects only , small business owners in agriculture, etc, etc, etc.
Can you share personal lessons that have helped propel you to success?
Owning a market so to speak provides the producer the confidence that they know all there is to know compared to the generalist attorney, accountant, banker or investment broker and by knowing the answers and specific solutions allows the individual to rise above anyone who plays the game of “we can do that for you and for less.” Price of life insurance has no correlation to value.
How do you see the industry taking shape the next five to ten years?
Unless the producers “owns” a market where they stay focused all the time, other distribution channels will fill the void via “commoditization” and diluting the need for professional advise. In 10 years artificial intelligence “will” allow most of the fact finding and spreadsheet designs to be accommodating most consumers who have become “online google search” oriented. Thus, become a focused market pro.
About the LIFE Foundation
The Life and Health Insurance Foundation for Education (LIFE) inspires the public to take personal financial responsibility through the ownership of life insurance and related products. LIFE is the voice of choice for the industry providing the highest quality independent and objective messaging about life insurance and related products. To learn more about LIFE, go to http://www.lifehappens.org/.
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