It can happen to anyone in any industry… sometimes we just want to pack up, call it a day, and say “I quit.” As tough as things may seem, don’t be so quick to give up!
Avoid these baited traps to ensure you’re on the path to a long, successful career.
#1 Low Motivation
It’s not a secret. To be a thriving insurance agent, you have to want to succeed. Failure to work hard is one of the top reasons people in this industry want to call it quits. While it’s true that this job isn’t easy, it’s also true that it can be very rewarding when you allow it to be.
As an insurance agent, you have daily opportunities to change your clients’ lives for the better. You can expect to get out of this job as much as you put in. That means if you truly care about your clients and put your best foot forward in finding a plan that will fit their needs, you can find joy in the fact that you’ve made a positive impact on them and their future.
If you still need more motivation, partner with a top FMO like Ritter Insurance Marketing to participate in sales incentives. We run programs like our Quest for Cash, where we reward agents for their Med Supp sales. Our carriers also provide agents with opportunities to increase sales by giving away easy-to-earn prizes. Don’t be afraid to use these incentives as motivation to boost your business. We encourage it!
#2 Unconstructive Management
Let’s be honest. You might not love your boss, but is that a good enough reason to quit insurance altogether? We don’t think so!
It’s not uncommon in the insurance industry for agents to be promoted based on high sales. While selling lots of plans and earning high commissions are certainly factors in becoming a successful agent, those traits don’t always translate into being good at managing and teaching others.
Consider becoming an independent agent and working with an FMO.
When starting out, you need guidance, and that’s OK! Instead of quitting your job entirely, consider becoming an independent agent and working with an FMO. You can make your own hours and essentially be your own boss. If you choose to work with Ritter Insurance Marketing, not only will you feel like your work holds value, but we can also provide you with the trainings and webinars you need to become more knowledgeable about your market.
#3 Lack of Resources
You might find yourself wanting to quit if you feel like you don’t have the means to put your best foot forward. No one provides what you’re looking for better than an established FMO. The last thing we want is for you to feel frustrated when submitting applications or trying to find the right plans for your clients. That’s why Ritter provides you with tools and back-office support to make your job much easier.
Ritter’s Medicare Quote Engine can help you find and compare plans based on your clients’ age and location, and you can even get your own Shop & Enroll site for your clients to utilize when searching for and enrolling in plans. We also have online contracting through Contract Now to make partnering with new carriers easy and convenient. We’ve housed all our technological tools in the Ritter Platform, an impressive CRM where you can email Scopes of Appointment, send prefilled applications, organize your client info, and record calls with CallVault.
Note: Newly registered agents must speak to their sales specialist before unlocking Contract Now.
#4 Having (Too) High Expectations
It’s admirable to set big goals for yourself, especially if that’s what keeps you motivated! But sometimes it’s OK to take a step back and assess your current situation. If your expectations are so high from the beginning that they’re unachievable, you might be setting yourself up for failure… which may drive you to eventually quit. Don’t do this to yourself!
Try not to be discouraged if you face rejection from clients, especially if you’re a new agent. It can take a little while to build trusting relationships, so don’t be discouraged if every appointment doesn’t result in a sale.
Good things take time. Let yourself grow within the industry.
Good things take time. A flower doesn’t bloom as soon as it’s planted, and you need time to let yourself grow within the industry. Start by setting smaller SMART goals for yourself and slowly, but surely, work your way towards success.
#5 Struggling with Mindset
The common thread underlying all these reasons is struggling with the right mindset. When you become an insurance agent, especially if you’re independent, you don’t just become an agent — you become an entrepreneur. It takes tenacity, perseverance, resilience, and ambition to start your own business, market yourself, and find clients in order to close sales. We highly recommend steeping yourself in material that will help you develop your entrepreneurial mindset, including relevant podcasts and books. Here are some ideas to get you rolling:
- Zero to One by Peter Thiel
- The E-Myth Revisited by Michael E. Gerber
- Our blog post on good books for insurance agents
- The Tim Ferriss Show
- How I Built This with Guy Raz
- StartUp
- ASG Podcast
If you’re on the verge of tossing in the towel, give one of these inspiring resources a try.
If you find yourself wanting to quit, remember why you became an insurance agent in the first place. Nothing you’ll come across is so severe that it can’t be worked through with a little patience and perseverance. If you’re looking for more motivation or a hand up, that’s what we’re here for!
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