Most jobs (including the self-employed) have limits on how much a person can earn. Exceptions include professional athletes, movie stars, musicians, and other celebrities. Those types of careers sometimes have no salary cap, but most jobs do have a ceiling.
The good news is that your chosen field in the insurance business is one where you can make as much as you want to make. There are no caps, but I know some producers who are barely making their rent payments, and others who are making several million dollars per year!
Obviously it takes a while to build your renewals but you can make huge commissions if you sell the right products. I’ve always found it interesting to see agents who get comfortable (or lazy) after they start making $100,000. On the other hand, I love when an agent reaches $100K, but sets a new goal to hit $200K. Then there’s the rare bird that desires to make a million, and believes they can.
I love to see people achieve financial independence, and enjoy the fruits of their labor. I was so proud when my Father, who was always a great salesman, reached his goal of $100,000 in commissions. He never dreamed he could make that kind of money.
I’ve seen young new agents buy that brand new car and truck and feel so proud of their financial success. My challenge to you is to not get too comfortable, and keep finding ways to push yourself. Our focus is to help people with a form of security called insurance, but when you get good at selling it and realize that you are a vital part of families’ financial security, then you become a powerful person.
I love to listening to successful agents explain how they work. Almost every one of the big hitters has a system they work daily, and at the end of the year they show huge numbers.
Since insurance is the only job that pays you renewals on sales you made in previous years, you start piling up the commissions, and next thing you know you’re monthly renewals make you financially sound. The sad thing is in many cases that results in an agent stopping what built that big pile of renewals. Why would that happen?
If you are in your prime, and things are going your way, then continue to work your system and be a superstar in the game of sales. You can never make too much, and the money is a wonderful benefit to you, while you are helping other families with insurance protection.
This week try to call on someone that no one would believe you could have as a customer! I bet that if you’re persistent you’ll get what you set your sights on!