Just thought I’d give you a little update on
the state of our business.
July was a good month (although not as good as we had hoped).
We ended up with $725k in annuity production in July.
We’re currently at $2,374,926.91 YTD. Last year our total
production was only $1,431,468.06. Our goal for 2011 has always
been $5 million (we’re a little behind).
One thing that’s hurting us is cancels. We’ve taken over $200k in
cancels for July and over $800k in cancels for the year.
Our goal is to start
Safe Money Radio sometime in the fall. Our cash reserves
(approximately $16k) are getting better, but still not to where we feel
comfortable making the move.
We’re currently on auto-pay for
annuity leads from Annuity.com; we also commit to 20
Pre-Qualified Annuity Leads per month.
Of course we also have miscellaneous expenses and are in the process
of adding health insurance.
We’d like to maintain our current marketing while adding
Safe Money Radio. Our goal is to have 3 to 4 months of expenses in
Once are on the air, I really see 2012 as being a blow-out year for
By the way, you sell big you lose big.
In July We had over $800K in cancels. $400K from Bret Roby and
$400K from Chad Owen. When Bret got back from his mission trip in
Africa he immediately went out and wrote a $200K case and when Chad got
back from his vacation in Florida he wrote a $200K case the next day
during a policy delivery. The $56K in chargebacks have already been
covered by other issuing business. When you get hit with
cancels focus on the future, not the past. It’s not what you lose
but what you gain that matters.
As you can see from the email above this partner is
at least on track to double last year’s annuity production and may very
well hit his goal because a good growth plan is exponential. Not
bad for an agent that got their insurance license just a few years ago!
There is more to being in this business than just buying an
annuity lead; you have to have a plan. If your marketing
vehicle is in park, now is a good time to put it into drive.