Personal Production vs Team Building

Deciding between personal production and building a team of insurance agents depends on factors, including your goals, personality, and market. Here are the pros and cons of each approach:

Personal Production

Pros:

1. Immediate Income: You earn commissions directly from your sales, leading to potentially quicker income.

2. Control: You have full control over your sales strategy, client relationships, and business decisions.

3. Skill Development: Selling personally helps you develop strong sales skills and gain in-depth product knowledge.

4. Client Relationships: Building direct relationships with clients can lead to more referrals and repeat business.

Cons:

1. Time-Intensive: Success often requires significant time investment, particularly in prospecting and closing sales.

2. Income Limitation: Your income is limited to what you can personally sell; it's challenging to scale beyond your own capacity.

3. Market Dependence: Your earnings may fluctuate based on market conditions and personal performance.

Building a Team

Pros:

1. Leverage Earnings: You can earn a percentage of your team’s sales, which can create passive income over time.

2. Scalability: Building a team allows for greater income potential as you can manage multiple agents selling simultaneously.

3. Support System: You can share best practices, resources, and leads with your team, fostering a supportive environment.

4. Focus on Leadership: If you enjoy mentoring and developing others, this path can be fulfilling.

Cons:

1. Management Responsibility: Building and managing a team requires skills in leadership, coaching, and conflict resolution.

2. Variable Income: Your income from team sales may be less predictable and could depend on the performance of your agents.

3. Time Investment: Initially, it may take significant time to recruit, train, and support your team.

4. Potential for Conflict: Team dynamics can lead to challenges, such as competition among agents or agent turnover.

Conclusion

?????Ultimately, the best choice depends on your strengths and career aspirations. If you prefer hands-on sales and immediate results, personal production might be the way to go. Conversely, if you see yourself in a leadership role and are interested in building a long-term income strategy, creating a team could be more rewarding. Many successful agents find a balance between both approaches, leveraging personal sales while also mentoring others.?

Ortez Wells Agency Partner Owner

[email protected]

www.orsfinancialgroup.com

• The presentation process can consist of 7-10 steps when selling insurance. However, in this article, we will focus on the first two steps, which are crucial for setting the foundation for a successful sale. >>>>> Continue Reading

• A lawsuit revived for a man who lost $16M in life policies on a missed payment. >>>>> Continue Reading

• As an entrepreneur, you already know that many risks and uncertainties come with running a business. However, there is one crucial element that often goes overlooked in many entrepreneurs’ business plans: life insurance. >>>>> Continue Reading