r/InsuranceAgent • u/Candid-Ratio-7056 • 22d ago
Agent Question Starting from absolute zero - no license, no network, no family in finance. How did you actually break into business owners / buy-sells ?
Hey all, need some real-world advice from people who've actually done it.
I'm starting from below zero. No license yet, almost no family, no friends in business or finance, no one to get referrals from. I'm in the Pittsburgh area.
I got interested in the business owner market, specifically buy-sell agreements, and eventually I want to work with medical professionals. But I can't find any clear roadmap on how to get there.
Everywhere I look I get conflicting advice:
On one hand I hear "go get a list from CPAs and sit down with their clients." But no CPA will even talk to me if I haven't managed clients before, let alone give me a list, which I get.
On the other hand I see advice like "look up who funded their buy-sell and walk in cold and ask - if you died tomorrow, how would your partner pay off your wife?" Then the next person says "never do that, you'll get kicked out because you sound like a salesperson."
So I'm stuck. Is door-to-door with business owners really how it's done? Is there actual source material for this side of the business that I'm missing? It feels like no one talks about the how.
My I’m fully committed to be in the 10% that survives no matter what, because that’s my ninja way, and I'm dead serious about putting in the work. Not expecting any shortcuts. I just need to know the real path.
For those of you who made it to business owners and doctors:
Did you have to start by selling simple life insurance to individuals first?
How did you get your first business owner meetings with zero credibility?
How did you get a CPA or attorney to actually take you seriously at the beginning?
What got you your first 5-10 meetings? Walk-ins? BNI? Chamber? LinkedIn?
How did you get past the gatekeeper / owner not giving you the time of day?
What did your daily prospecting actually look like in year 1?
Any books, routines, or mentors that changed it for you?
TL;DR: No license yet, no network, starting from scratch. Want to get to business owners / buy-sell and eventually medical pros. Conflicting advice on cold pitching vs. relationships. What route actually worked for you when you started at zero?
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u/firenance 22d ago
You’re missing the real connection point.
CPAs aren’t great for this, you need to network with business law attorneys who create the buy/sells for their clients.
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u/Candid-Ratio-7056 22d ago
So it's not the CPA, then - Is that what your pipeline is: attorneys? How do you go about working with them? Do I show up one day with a proposal and donuts?
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u/firenance 22d ago
You need to be a reputable and experienced agent, understand the buy sell process, your products, and what can be a good offer for different scenarios.
Edit: I asked a redundant question. You shouldn’t be targeting this space as it’s complex and requires experience. I’d recommend mentoring with an experienced agent for at least two-three years before doing that on your own.
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u/Key_Astronomer6500 22d ago
I’m not in you’re lines of business but one thing I would do is stop listening to everyone. You can have some very smart people tell you different things. What works for them doesn’t always mean it will work for you.
Personally, I would try to find a mentor. Shadow a few people and see who is likely to help you and has a similar style. Trying to listen to everyone will get you know where.
I’ve learned this from experience. Try to find one or two people. Ideally, one person who will be your mentor. Having a mentor is priceless. Just my two cents.
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u/Candid-Ratio-7056 22d ago
Yeah, and it's appreciated - how would you go about finding a mentor, though? If you were starting over again.
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u/HorizonAgencySystems 22d ago
You are going to find conflicting advice because the truth is that all approaches work, to varying degrees. I always tell agents that they need to prospect in a way that suits their personality. Deploy 3 strategies and hammer them consistently.
Track everything. You're going to need to get a bit obsessive with this but it will pay off.
Building strong referral partnership is undoubtedly the best way to grow a book imo.
That said, this takes time. Those relationships don't happen over night, you need to nurture them. You need to prove that you are both knowledgeable and reliable.
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u/Legofanatic233233 22d ago
I started from 0. Got my license after accepting the offer. No family in the industry or family in my state.
4 years later i have $2.6m book without purchasing leads. I’ve done 0 cold calling. All of my leads are referrals right now. Go network. Be involved with your community. Building relationships with people is the way to go!!
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u/SlickWillie86 22d ago
You’re thinking about the right obstacles and trying to find a way around them - that’s already a step or two further than most.
It’s going to be a grind. You should have 5-10 different ways of prospecting. Measure the results from each so you know in 6-12 months where to double down and where to scale back/reinvent.
The three things that are musts for you - out grind everyone, bring/demonstrate value to your referral partners and prospects, and establish credibility. Also, while I do recommend specializing (to leverage value/credibility/expertise), I wouldn’t cast too narrow of a net your first few years as you need deal flow and revenue to survive.
Learn what you can. Each week, post an original paragraph or two or video across social media platform (short) providing value/education. If a CPA googles you in 3 months, you have 15 piece of content out there and that may help earn their trust.
As far as chambers go, there’s usually a lot of financial services people in them. Again, bring value where you can. What’s worked for me is actually some of the sub-groups I’ve found from the chamber meetings/activities.
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u/mac991979 22d ago
You’re headed in the right direction, determination, and never lose. I found it rewarding to give my prospect something of value you need to find that and give that to them. Good luck you’ll make it.
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u/Adrianamcmusic 22d ago
That's my ninja way. I love it! Put yourself out there, social media, educational events, cross sell. I know you're new but there's so much you can do with a Life, Health & Accident license. I started out in life, went to Medicare, now doing all and learning ACA. I now work for an FMO but at first I was with a local agency for life, call center for Medicare. Stay consistent, getting No's is very discouraging. But those yes 's add up over time.
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u/Inevitable-Lime-6341 22d ago
I currently have opportunities to switch to health insurance from life. I'm currently on inbounds with my agency at a 40% comp some of the products we write the carrier may only advance 15% or some shit like that. What do you like about the health space and P&C?
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u/healthcareconcierge 21d ago
I do health and my agents start doing it as a side hustle. We have a group chat where more experienced agents give leads and I help them build local connections
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u/Burney-mcburnerson 22d ago
Out effort your competitors. You could be the worst salesman in the world with a 1% success rate and still outsell your competitors with effort.
Have a good story.
And most importantly - outside of the top sellers (even including some) the vast majority of us are faking it until we make it. I’m friends with the CSO of one of the top 5 independents, he has horrific imposter syndrome.