You will hear this often in Primerica: What is the ABC to building a business?
A-Always Bring People. Every opportunity meeting should be pack with guests. If you are not bringing people, you are not growing your business.
B-Be a student. Attend training and take notes. Instead of writing them, you should bring a recorder and record every training. Read self-help books and improve your way of thinking. Some day, you will own your own office and need to do training. Some day, you will be out in the field training others on how to do the appointment.
C-Cheerlead the system. You need to be enthusiastic about helping people. You need to get people excited about getting promoted. Encourage them to do the work. As stupid as it seems, people like positive people. If you are not excited about your business, then people you recruit won't be excited.
Monday, September 6, 2010
Friday, August 20, 2010
Why I love Primerica? OVERRIDES!
I should of posted this earlier in my career, but earning overrides is the best thing that has ever happen to me as I progress my career in Primerica. What is an override? To simply put it: "It's income earn when people in your business helps other people." Every time when someone on my team who is licensed and helps a family on his own, not only does he get paid full commissions, I too get paid by the company. Its unbelievable. There is no cut in commissions that is split between everyone. You get paid base on your sales level.
For example, an average annual premium on life insurance that a client pays is about $1000/year. If I was a District Leader in the company, I would get paid $500. My Regional Vice President, who train me, will get paid $450. What if I was a RVP doing the same work? I would earn $950 plus bonuses. What if I was a RVP who had 10 District Leaders and each District Leader helped out a family? I would earn overrides of $4500! As you can see, there's no split in commissions. Its only straight commissions (work you do) and overrides (work you didn't do).
As one Senior National Sales Director put it, "overrides = freedom" and its true. I hope that someday I will earn enough overrides that I'm comfortable with and stop working. My goal is to earn consistent overrides of $20k/month and stop working. I'm still young (less than 30 years old), so I still got lots of time until I retire. Hopefully I can get this done in 10 years. Right now, my goal is to get myself to RVP and then get more people to RVP position. How I plan to do that? By getting people to become District Leader.
For example, an average annual premium on life insurance that a client pays is about $1000/year. If I was a District Leader in the company, I would get paid $500. My Regional Vice President, who train me, will get paid $450. What if I was a RVP doing the same work? I would earn $950 plus bonuses. What if I was a RVP who had 10 District Leaders and each District Leader helped out a family? I would earn overrides of $4500! As you can see, there's no split in commissions. Its only straight commissions (work you do) and overrides (work you didn't do).
As one Senior National Sales Director put it, "overrides = freedom" and its true. I hope that someday I will earn enough overrides that I'm comfortable with and stop working. My goal is to earn consistent overrides of $20k/month and stop working. I'm still young (less than 30 years old), so I still got lots of time until I retire. Hopefully I can get this done in 10 years. Right now, my goal is to get myself to RVP and then get more people to RVP position. How I plan to do that? By getting people to become District Leader.
Tuesday, July 27, 2010
The numbers are the numbers...
... and you can't beat the numbers and the numbers can't beat you.
10 invites = 4 guest = 1 IBA
What are you doing to get 10 invites?
2 invites/day for 5 days/week = 10 invites/week = 4 directs/month
8 appointments = 5 FNAs = 3 Life insurance sales = 1 recruit.
Having 8 appointments in a month is ok for part-timers, but not acceptable for full-timers. I believe full-timers should be able to do 8 appointments in a week. I know people who can do that in 1 to 3 days. Why not you? What can possibly be more important than making money, helping families, and building a future for your family? Stop wasting time staying at home and watching TV or using the computer. If you work hard every day for the next 3 to 5 years, you can retire if you want, but its very unlikely that you will as you will become RVP and want to get more people promoted to RVP.
Understand the numbers and accept them. When you get the IBA, help that person grow their business. Get them on the fast start, help them get their bonus as soon as possible, and help them get their license. Show them how to get to District Leader. You just need to get 6 District Leaders and you pre-qualify for Regional Vice President promotion. If you are serious about getting your RVP contract, you need to have consistent monthly production. You should be fully license (life license, series 6, series 63, series 65, series 26, mortgage license) before getting your RVP contract. If you are in Primerica, just go to POL to learn how to get your next promotion or ask your RVP.
10 invites = 4 guest = 1 IBA
What are you doing to get 10 invites?
2 invites/day for 5 days/week = 10 invites/week = 4 directs/month
8 appointments = 5 FNAs = 3 Life insurance sales = 1 recruit.
Having 8 appointments in a month is ok for part-timers, but not acceptable for full-timers. I believe full-timers should be able to do 8 appointments in a week. I know people who can do that in 1 to 3 days. Why not you? What can possibly be more important than making money, helping families, and building a future for your family? Stop wasting time staying at home and watching TV or using the computer. If you work hard every day for the next 3 to 5 years, you can retire if you want, but its very unlikely that you will as you will become RVP and want to get more people promoted to RVP.
Understand the numbers and accept them. When you get the IBA, help that person grow their business. Get them on the fast start, help them get their bonus as soon as possible, and help them get their license. Show them how to get to District Leader. You just need to get 6 District Leaders and you pre-qualify for Regional Vice President promotion. If you are serious about getting your RVP contract, you need to have consistent monthly production. You should be fully license (life license, series 6, series 63, series 65, series 26, mortgage license) before getting your RVP contract. If you are in Primerica, just go to POL to learn how to get your next promotion or ask your RVP.
Monday, July 12, 2010
Primerica joins Russell 3000 and Russell 2000 Index
Story link from MarketWatch.com: http://www.marketwatch.com/story/primerica-joins-the-russell-3000-and-russell-2000-stock-indexes-2010-07-01?reflink=MW_news_stmp
Primerica Inc, the largest independent financial service company in North America, has joined the Russell 3000 and Russell 2000 index. Russell 3000 is made up of the 3000 largest companies in the United States, making up 99% of the US equities market. Russell 2000 is subset of Russell 3000 that measures the performance of small-cap companies in the US.
I laugh at all the people who are still wondering if Primerica is for real or is it a scam or needs to do research. I think the only thing people should research is themselves. They should look at whether or not if they are able to build a business. Are they hard workers or are they lazy? Are they able to handle objections? How would they react when someone says no? Are they willing to make sacrifices and reap the rewards later? There's nothing to research about the company since the work has already been done by lawyers, attorneys, government agencies, non-affiliated organizations such as Better Business Bureau and Ripoffreport.com, investment firms, and large corporations. What more of a proof do people really need to finally be convince that Primerica is legitimate company? "Some will, some won't, so what." That's all I have to say to people who want to research. Waste your time and let this great business opportunity pass you by. It will be very rare if this opportunity comes their way again. I've been in Primerica since 2004 and haven't met another Primerica rep on the streets who prospected for me.
Primerica Inc, the largest independent financial service company in North America, has joined the Russell 3000 and Russell 2000 index. Russell 3000 is made up of the 3000 largest companies in the United States, making up 99% of the US equities market. Russell 2000 is subset of Russell 3000 that measures the performance of small-cap companies in the US.
I laugh at all the people who are still wondering if Primerica is for real or is it a scam or needs to do research. I think the only thing people should research is themselves. They should look at whether or not if they are able to build a business. Are they hard workers or are they lazy? Are they able to handle objections? How would they react when someone says no? Are they willing to make sacrifices and reap the rewards later? There's nothing to research about the company since the work has already been done by lawyers, attorneys, government agencies, non-affiliated organizations such as Better Business Bureau and Ripoffreport.com, investment firms, and large corporations. What more of a proof do people really need to finally be convince that Primerica is legitimate company? "Some will, some won't, so what." That's all I have to say to people who want to research. Waste your time and let this great business opportunity pass you by. It will be very rare if this opportunity comes their way again. I've been in Primerica since 2004 and haven't met another Primerica rep on the streets who prospected for me.
Friday, July 2, 2010
One man's idea of "pyramid scheme"
Take a look at this:
"And if this person actually gets their license and sells insurance, you, your immediate supervisor/mentor, the owner of the business, his boss, the regional manager, and so on up the ladder will get a piece of the commission. Hence the appearance of pyramid scheme." from "Mr.Prefect" from Yahoo Answers
This guy obviously has no clue what he is talking about. I've been in the business for years. When I make a sale, no one gets a piece of my commission. I get paid whatever my level is at and everyone else above me gets paid an override. An override to me is money earn when someone else does work. Hence, not an appearance of a pyramid scheme, but an appearance of a working business. You got to be crazy if you don't like overrides. If no one was getting overrides, there will be no point of recruiting. All business are structure this way, even in the corporate world. In corporate world, the CEO makes all the money. The entry-level employee gets paid very little and yet they do all the work. CEO earns all the profits from the work the employees does, which is one big override. Imagine that the CEO was not earning any overrides from the entry-level employee. Then the CEO wouldn't need employees and do all the work by himself. Eventually the CEO will either max out his time or burn out from all the hard work. Then the entire business will fall.
"And if this person actually gets their license and sells insurance, you, your immediate supervisor/mentor, the owner of the business, his boss, the regional manager, and so on up the ladder will get a piece of the commission. Hence the appearance of pyramid scheme." from "Mr.Prefect" from Yahoo Answers
This guy obviously has no clue what he is talking about. I've been in the business for years. When I make a sale, no one gets a piece of my commission. I get paid whatever my level is at and everyone else above me gets paid an override. An override to me is money earn when someone else does work. Hence, not an appearance of a pyramid scheme, but an appearance of a working business. You got to be crazy if you don't like overrides. If no one was getting overrides, there will be no point of recruiting. All business are structure this way, even in the corporate world. In corporate world, the CEO makes all the money. The entry-level employee gets paid very little and yet they do all the work. CEO earns all the profits from the work the employees does, which is one big override. Imagine that the CEO was not earning any overrides from the entry-level employee. Then the CEO wouldn't need employees and do all the work by himself. Eventually the CEO will either max out his time or burn out from all the hard work. Then the entire business will fall.
Thursday, July 1, 2010
Thursday, June 24, 2010
I'm a financial doctor
Doctors find out what problems you have and find solutions to fix the problem. If the doctor is able to help that person, that person will show lots of gratitude and will trust you forever. This is basically what I do as a financial representative at Primerica. I see a client. Find out their needs and goals. Put together a financial needs analysis for the client. Present solutions that meets their needs and goals. Everyone goes home happy. The only difference between the doctor and I is that I don't charge any fees. If I help the client, the company pays me.
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