 What is up and welcome to 8% Club every Friday 2 o'clock Central Center time today? I'm excited about the topic bear with me I'm about to jump to the whiteboard and walk through a target. What is your target? What do you want to be doing? And how do we get there so today? I'm gonna help you get there alright, so today Dylan if you'll jump over the other screen with me, bro We are going to Talk about a target, so I want to start with a target that You guys pick somebody either either on the live video or one of the team members in the studio I want you guys to pick the target and then I'm going to show you how To hit a Target in the insurance business, so is it if you can comment below on youtuber Facebook It's hey Cody I want this to be my target for 2019 if I could make this amount of money I'd be super pleased if nobody jumps in real quick. I'm gonna just have somebody in the studio pick Is there anything? That you guys can think of here in the studio that would be a good Target for an illustration for today's show Okay, perfect Danny has said a hundred and seventy five K I like that. Oh perfect. He even put it in the thing perfect, so Danny says a hundred and seventy five K so let's look at a Hundred and seventy five thousand if you're an insurance agent you're in the insurance business The business where there's more millionaires than any other industry. How do you hit a hundred and seventy five K in one year in? 2019 what I'm gonna do is though. I'm gonna use to kind of break this down a little bit for this example I'm gonna use I'm gonna use leads and I'm gonna use door knocking I'm coming on becoming a little bit enamored with door knocking and how agents generally Suck on the phone or they won't make calls and so if we can have it door knocking will allow us activity great Like we just literally had an agent You'll see Derek and Dylan moving around. I love that Literally, we just had an agent that worked our leads and wrote 4k on 20 leads and you can pass by or whatever you're good 4k on his first 20 leads with us, but he only doorknock We've also got a big Hispanic team out in Florida that they write They'll write a couple hundred grand apiece this year and they all do it from door knocking without making calls So let's look at using new leads and Some aged leads will actually break down the number and see what this ends up being once we break this down So I want to ask and I'm gonna share answers along the way if I don't get answers back but what I'm gonna do is I Want to see using door knocking what this would look like so for example If so if you as an agent if you knocked on 10 doors How many if you knocks Let's just say that you knocked on so many doors How many people in your experience would be home that you would actually speak to and then when I break that down and say Okay, you spoke to so many How many that you speak to do you actually get in? Inside where you actually get in the home and then when you get in the home and you sit and you give a presentation how many cells Do you end up making and then what's your average cell? Look like and then I'm gonna eventually tell you the exact amount of knocks that you would need to make to hit 175k and every time you knocked on a door how much money you would actually make as an insurance agent So let's see. Let's just say that you knocked Danny Miles Eddie Matt anybody joining on YouTube also. Let's check out. Somebody have the YouTube comments pulled up for me, too I'm looking at the Facebook comments. I just got on Facebook leads or DM Ron. Ron. It doesn't matter, buddy Great question. I would say either way. Let's look at let's look at our leads just because they tend to work very well so let's look at Let's look at our social media leads And I'm actually going to set this here so I can follow along and watch. Let's just say Let's just say our leads. Let's just say that you knock on Let's just say that you knock on 10 doors Hypothetically, how many would you end up speaking to the typical answer to be conservative with our numbers is normally about 1 3rd. So if I knock on 10, I'm going to end up, you know Talking to about 3.3 somewhere in there. If you guys have different numbers Let me know because what I'm wondering right now is if you knocked on 10 doors How many people would be home and you would actually carry on a conversation with them? Okay, so when you knock if to go from here to here is 1 3rd, okay, and To go from hey, I'm speaking and carrying on a conversation to actually getting inside if I'm knocking on leads worst-case scenario It's probably again 1 3rd. I want to be super conservative with our numbers. Some people are better Like I'm generally going to get in at least half the homes at doorknock, but some agents won't so let's let's be conservative Okay, if you knocked on If you knocked on if you if you got in Once you got in what percentage of time do you actually make a sale? And I would say this is generally half and then what is your average cell end up being so if we use these numbers? And if you get any different numbers along the way help me out So in this example, let's just say that you made a hundred knocks just for easy math sake Let's just say that you spoke to 33 people. Let's just say that you got inside with about 11 right 1 3rd and that you ended up making about 60 cells and then this example if you're able to get your numbers in this favor and that's super conservative I knock on 100 doors. I'm making more than five cells But again, I want to be super conservative because I want you guys to be able to follow along and understand that anyone can achieve a target Let's just say that your average cell is About I know with a lot of agents is generally I mean we use 60 a lot. I Worked with an agency recently was about 67. I've worked with agencies where it's 61. Let's just use let's just use Let's just use 61 Dollars a month again conservative numbers. That's average cell is 732 of premium. So what you do is? What is 175,000 Divided by 732. So this is what you're making per cell. How many cells does that end up being divided by 732? That's 239 Cells right 175 divided by 732 239 cells. Okay, let's just say that that's divided by 50 weeks Okay That's divided by 50 weeks and this is all random. I didn't I didn't prep this divided by 50 weeks Let's say you well that gives you two weeks of vacation time. So you work 50 weeks, then you need to average 4.78 Cells Per week so let's just round this up and call that five Which is actually what we already have here in this example with conservative numbers Most ages are going to do better But we've already got to the number actually quicker than I expected If you knocked on a hundred using new and age leads if you knock on a hundred doors a week and you speak to 33 You knock 33 people answer you talk to 33 people. You are able to get inside about 11 homes Only a third lets you in my numbers are gonna be better Your numbers are probably better to I'm being conservative if you've got a literally about a it's less than half if you've got a 45 in this example again, we're being conservative because with this number. It's about a 45 percent closing rate It's five divided by 11 about a 45 percent close rate everyone I know generally has about a 45 percent close rate, especially if they're door knocking and getting inside and talking to leads That's not bad at all the average sale of 61 dollars per month. That's also Very conservative very normal. So what we learned is That in this example with wildly conservative numbers an agent would need to knock on 100 doors per week, right So let's break that down a little further To break this to just keep going deeper with the numbers if you don't have a target And if you don't know your numbers of exactly what you need to do Then I challenge you to figure that out. It's not rocket science at all so if we say okay 100 doors a week So you need to knock on 100 doors per week of People that have recently request information or people that have previously request information I mean you could work 25 leads and knock them all four times and there could all be brand new leads you could knock on a combination of new and aged leads Let's break that down this is that then to take it down even further that's 20 doors per day If you knocked five days a week, okay? 20 doors a day who can't who can't knock on 20 doors a day show of hands Whether we can see you're not you need to be raising it who has the ability to go and knock on 20 doors a day the answer is Everyone so okay, but what we talked about we talked about So what's what's hundred knocks a week? That's five thousand knocks a year hundred per week times fifty weeks, right so a hundred times fifty weeks Obviously that's five thousand knocks You're knocking on five thousand doors for the entire year So what I want to do though is I want to take a hundred and seventy five K divided by five Thousand doors and what do we get to what do we get to one seventy five? divided by five thousand You're at thirty five, so you're making thirty five dollars per Door that you knock on in very conservative numbers. I Would say that this is pretty conservative about one out of three that I actually knock on will answer That's pretty conservative and that's pretty normal I would say you could you should get inside of more than one of every three I would say this is ultra conservative right here I would say a forty percent closing ratio isn't out of the ordinary whether your newer experience doesn't matter So if you break all this out, and this is the simplest I've ever kept a whiteboard when I've actually walked through a target and Illustrations and I've walked through it specifically for about 12 minutes and made it possible for anyone to make a hundred and seventy five K Knowing what to do and this was random, but at the end of the day Who wouldn't? do this $35 please $35 please Like would you guys knock? We're gonna play a little game. I'm gonna have them knock on their desks while I'm here knocking on the board on the count of three three two one Dude everybody just made thirty five dollars Thirty five bucks man. Who doesn't want to make thirty five dollars? $35 please or and let's just say that my closing rate for example Let's just say that when I get into eleven dude exactly. Let's just say that my closing rate 60 percent Then I'm closing with a sixty percent close I'm at seven cells per week in In this example if I wanted to see How this would work In that example, I'm actually gonna end up making more per knock You see my point because that's only at five cells literally. This is if you take five divided by seven That's an extra twenty eight point six percent on top of this That's forty then you're in the then you're in the forty five dollar Per door range just because you can do a little better Danny's over there knocking away bro because he's a better closer and now he's making forty five dollars every time Somebody knocks the door the only reason why an insurance agent that's watching this right now Whether it's Facebook YouTube the only reason they would not be able to hit this number right here You tell me in Facebook comments and YouTube comments Why would you not be able to knock on 20 doors a day? You can do that between about 9 a.m. and 5 p.m. Especially if you use new and aged leads Especially dude Bailey's over there making some freaking money bro between 9 and 5 new and aged leads With and let's just say that you keep them close by and You can and if you actually use a route planner their services like Matt close your out planner calm Road warrior has an app to where you can plan out your route and you can just go follow it who has the ability to Let me ask you a question if you have the ability to Follow a route Drive there get out of your car walk to the door and knock on the door and Say a pitch that somebody tells you to say then and if you could do that 20 times Hypothetically per day then you could make a hundred and seventy five thousand dollars per year Hypothetically, but the only reason you wouldn't Do this right here If I just jump straight across the only reason you wouldn't do that If you knew that you would end up with this the only reason you wouldn't do that is if you were what? Dude it whether it whether it's a I Mean it's a four letter word. It ought to be a curse word like officially in this office. It is right Who can't Matt's over here making money man 175 K all because you know your numbers. That's the biggest thing. I mean they talk about success leaves clues and yes it they do Everyone's clues are different and some successful people. You can't really see exactly what they did Every minute of every day to be successful But what you do know is that they know their numbers Elon Musk the dude knows his numbers Grant Cardone knows his numbers Vince Pampinano knows his numbers Ryan Palomini knows his numbers these successful people whether in other industries or in our industry They know their numbers and if I Can take I could take any rookie agent in the country and Hypothetically put him on this random plan that I just made up and that you guys just made up using legit numbers Knock on 20 doors a day. I'm just just all random It's made up, but at the end of the day if you do it the activity will make you better You'll have more skill and you'll end up making about a hundred and seventy-five K Simply because of the activity most activity is too low This is one of the biggest reasons why I love door knocking is because I can hand an agent 20 leads Okay, and they can call those 20 leads and they can call them all Four times right yeah call them twice six times twice Friday twice Saturday twice Sunday It took them to call 20 leads twice you can take you about I mean it's gonna take you about like 40 minutes 45 minutes an hour so there's three hours of work You know there's two and a half three hours of work in calls And then if say you schedule it you're not any good say you only schedule a couple of appointments You go out and you run those it takes you two three hours to do those you end up with like working like six hours a week Full-time insurance agents work six hours because they only make calls Door-knocking makes it Almost impossible for you to fell if you stick to a system and if you actually have enough activity to succeed Any really good YouTube or Facebook comments that we want to touch on before we wrap this thing up It's all about knowing your numbers All the time that's all it is That is all it is at all is knowing your numbers most people don't perform enough activity Every single week To make 35 bucks a door 45 bucks a door It's it's numbers. It's numbers That's all it is it's numbers and it's and it's knowing the target and then breaking the target down really deep I mean to keep this simple it looks like a lot of stuff If you're just now joining it looks like a lot, but all you got to figure out is when you knock on so many doors How many do you speak to when you speak to so many how many do you are able to get inside when you get inside? How many cells do you make and what's your average cell and then you could figure out what your target was? The target doesn't have to be 175 K the target could be let's just say 92% of insurance agents fail I'm gonna give you a couple other examples you and you'll understand it because when you look at 175 K Let's give you in this case. This one was 20 20 doors a day, right? 20 doors per day, okay, let's look at 350 350 K You may have to work six days. You may have to hire someone you may have to Be a quick door knocker or door knock for 11 hours a day, but there's 40 doors a day. Okay, let's just say that It's half because the end of the day Let's just say it's 87 5 is your target for 2019 where 92% of insurance agents fill Guess what? It's half of this so it gets half of that. It's 10 doors a day If if when you knock on on the door a third of the time They answer the door when a third of the time they answer the door a third of the time They let you in and when the third of the time they let you in you're like a 40 45 50 percent closing rate Then you didn't knock on 10 doors a day Of leads to make eighty seven thousand five hundred dollars in 2019. Most agents don't put forth enough activity 92% of insurance agents fill because they are Freakin Lazy the activity that they put forth you could cram it as an agent the amount of work You're doing you could cram it in three to six hours We have a hundred and sixty eight hours in a week and you're working Three to six hours all week and don't tell me you're not because I talked to two dozen agents a day And I promise you this applies to almost every single one of them and it all goes back to one thing The most important word in the insurance business right now comes back to activity No matter what the target is you can break down the numbers and hit it you could do the same thing with calls You could do the exact same thing with calls you could say you know what? if When I make a hundred calls, you know about About about about say it says horrible say it's a fourth of a man sir. You're at 25. Okay when I speak to 25 I'll end up Being able to set appointments with about Let's just say it's half. Let's just say it's 12 when I set up almost with half That's also bad when I said one was with half I normally sell about six like but most people never get to a hundred calls in a week So this is how we keep it simple and break down a target that you want to hit as an agent You have to be in the know I've preached this to this Hispanic team in Orlando for two days all about being in the know Having a target and breaking down my numbers if you ever want a custom plan built for you Based on the fact that you sell health insurance over the phone in 42 states or this or that or you sell you know You sell freaking Term life and you only call leads and you only run a public space to face it doesn't matter Whatever it is if you have a target and you explain to me what you do to sell insurance I can spend about 20 to 30 to 40 minutes with you and Whatever your target is I can tell you what to do on a case-by-case basis every day and Every week to hit whatever target you want It's not rocket science. It takes some questions and kind of being in the know so you want to hear a comment Yeah, let's do it. We got a comment from Orlando. He says Every lead is a good lead. The question is what is your skill set leads or leads? The catalyst is your skill set alpha mentality my group and I close any lead from any source over the phone We used to do it door knocking on doors back in the day. Nice. I love it Orlando Give the good work brother appreciate you watching appreciate the comment man. That's really good That's really cool. Yeah, anyone can hit any target But you must be in the know and then you've got to actually stick to the activity plan that is put in place At the end of the day I've been going we've been going about 23 minutes. It's time for me to jump off 8% club every Friday at 2 Any you can get any target, but I want you to get serious About what you need to do every step of the way to hit that target and then pay that price It's up to you to pay that price and to do the activity if you won't guess what? You're lazy Every Friday at 2 we keep it real and they're over here making 35 45 55 dollars just for knocking on doors, right? If they could if they can do it if I can do it If you can do it do anybody can do it Know your numbers Have a great weekend. We'll see you Monday appreciate you guys I'm gonna race this word first because that's a bad word man