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January 14, 2016 at 05:39 AM
Insurance agents and owners never have enough time.
Never, in all of my years of speaking with insurance agents have I heard the phrase, “I have way too much extra time right now, what should I do?”
There is a good chance you are stressed, overworked, and under constant time pressure. There is one vital question you must ask every day: What is my time worth every hour?
Seriously. That’s it. Have you ever actually calculated the number?
To do this you must have first set some sales and income goals. I know some insurance agents are struggling to make a profit and this exercise may show why. For example, ask yourself:
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What do you want make this year?
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What would be a great year for your business?
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Determine that number. You got it? Good, now we can move forward.
Take this income figure and divide it by 12 to get your monthly income goal. Now, take the number of hours you desire to work each week. Yes, I know this may seem like a pipe dream to those of you pulling 100 hour work weeks, but how many hours could you work and still enjoy a high quality of life.
Let me give a quick example for illustration purposes: If I want to make $120,000 this year that would be $10,000 monthly (I like easy math.) If I want to work 50 hours per week that would mean that my hourly rate is $50/hour. Want to make $60,000/year at 50 hours/week that would be $25/hour. You get the point.
