Why Most Agent Fail - Top Strategy to Launch Your Business - Power of Communities

Hello, my name is Yogendra and I run a community by the name of Digital K Academy. The topic is why insurance agents fail. And in India, where per capita income is increasing, so many people, young couples, where more than 70,000 children are born in India on a daily basis. Despite such a good scope, why are insurance agents failing? And in small countries or where per capita income is not much like Kenya, Vietnam, Cambodia, insurance agents are becoming successful there. 70% agents fail within two years. And 10% are hardly able to make something less than 20,000 per month. And only 15% are able to make enough. Enough means I can earn 30 to 400 per month. And there are 5% people who are able to do it in the long term. Come in this tutorial, I will talk to you. What to do. As I told you, I am the co founder of Digital Gyani Academy along with my partner Amit Sharmaji. And here we have more than 10,000 people and financial advisors who learn. You can also learn. And there are more than 1,000 leaders, agency leaders who are working with us. Learning. You can also learn. If you are already a part of our community, then well and good. This course is actually a confluence of three books and the prime book, prime course that I have created in this is named Minimalist Entrepreneur in which I teach you in this course how you can start small, learn to create a community and grow big. Yes, the whole game today is about the community. Through this video I am also calling you to my community or asking you to upgrade to my community. First of all, I want to tell you one thing. If you are engaged in selling products, suppose you learned a product from an insurance company. Now what happens? Normally insurance companies sell their products in such a way that there is nothing better than this. The world should leave all work and buy this product every day. But you know that there is a lot of other work in the world. There is a lot of other sorrow in the world apart from love, right? So if we sell the product then you have to understand that insurance companies will not need both you and me. We have to sell the solution. And why do we have to sell it? We just have to go and tell people. We have to uncover their problems. They already have problems. We have to uncover them. We have to remove the COVID that they keep putting on it or they have no idea how much amount or by when. And the solution has to be given. So if you are the one who gives the solution to the problem then this thing is absolutely right for you. Now first of all, let us understand how the Business should be done. See, if you are new in business or you are restarting, then first of all, do the work of survival. That I should earn 15 minus 2000 so that I can survive for that do some meetings and some sales. Second is growth. Growth letter comes. If you already have 50 plus clients, then you can go on the growth path. And what will be the starting point? Or what will be the restarting point? Or what? If you want to start online, build communities. Community means community, that group which you can go to again and again and from where you can conduct some meetings and present your solution. And before creating a community, you will validate your idea which you will create. I am also telling you the idea in this course. What can it be? Now to understand business, what is business? For business, you have to understand two things. First thing is that business is done for a community comm. Concept of community. If suppose you do retirement planning of people going to private jobs, then that becomes a community of people in private jobs. And retirement planning becomes the solution of their problem that they do not have any pension at the time of retirement. Although people try through the new pension system or ppf, but you still know it. So what is business? The definition of business is that business is that thing which solves the problem of the market community by putting men, women, machines and money on the work. First you will work, but definitely then your machines, your people and your money will work. Because if you keep working throughout your life, then your life will be spent in work only. When will you get the freedom of time? When will you get the freedom to live your life? So business is this. Now let us understand that the community will lead you on the problem. You will solve its problem. And from the problem will come the product. And from the product will come growth. Let us take the example that there are doctors. They have to enter the details of all their patients. But to make that entry they have to use the manual. And you make such a software which makes the entry of doctors easy. And they can check it anywhere, on mobile, at home, anywhere. And how many came, how many did not, how many? This can also be entered easily. So you took a community of doctors and solved one of their problems. Similarly, suppose you make a community of young couples. And what is the biggest problem of those young couples? Tracking your expenses and increasing your savings. And here you give them a tracker through which they can track their daily expenses. They can do weekly review and you tell them that from their monthly income they are doing SIP or any monthly investment. So you solved two of their problems. So this is the power of community. An example of community is middle class people who are salaried. You can do retirement planning for them. Middle class people who are businessmen. Again, you can do retirement planning for parents whose children are less than 15, 10 or 15 years of age. You can do child higher education planning. Private job employees can again do retirement planning for them. People who have common interests are called a community. This is available in a group. For example, people who go to the gym become part of a community. Gym is healthier, right? If you want to be successful in financial advice, you will have to create a community. Now you can create this community on a simple mobile phone by creating a WhatsApp group. WhatsApp also has a community feature, or you can use any other advanced platform. What normally happens in a community, there are 1% people who will create some new concept or content, and 9% people will like or comment. And 90% people will just watch. You have to become that 1% who creates something in that community, who adds some value to that community. And gradually you can convert the people who are liking or commenting into your customers. What all platforms are there that you can use? Here you can use WhatsApp group if you want. Facebook, Instagram. Where do you find this community? In schools. There are such parents in the school, right? Nursing homes where children are being born, that there is a community you can create. And so if you must have understood that you can create a community from data, you came back after attending a seminar somewhere, you had invited people from private jobs there, you created a community. Okay, so this is how these platforms and communities are formed. Now, where do you have to start from? See, insurance companies have given you the product. They have also given a portal to process the product. Have also given login. Maybe they have also given a mobile app. Same is the case with mutual funds. First of all, you have to start by creating a community. So rather than going to sell a product, first of all, you created a community. Now suppose you have existing clients. Do you have any broadcast, any community, or any data of them through which they can be contacted? In groups can be segregated. To whom we have sent child plan. To whom we have sent retirement plan. Now you can create a community by calling them in simple WhatsApp groups. This community is created right now, for example, in in Holy Places, a community is created there too, which you sometimes call committee or something, right? So you have to start from here. Now, as soon as the community is created, you educate them through video education, business, entertain them and start giving valuable information before creating a community. It is important to validate two things. Is this community so big that we can work in it further? Secondly, does this community have money? Do these people have money? If there is no money, we cannot work further. Okay. For example there are schools where there are more than 500 parents in a school whose children are less than 6 years old. And the school fees are also 3 to rupee.000 per month. That means these people are good. A community has been created now. It has to be created now. How to approach that? You will come to our courses. Then we will teach you on that. Now in this if you go to a government school, that is not the right community. It is right according to the age. But that customer does not have money. So you have to go to the schools where there is money. The TM written here is called the total addressable market. Now like I teach insurance agents then in India the insurance agents who are active are around 12 lakhs. So this is my total addressable market. Now I can create a community from this. Whose problem is to become mdrt. Whose problem is to become caught. Whose problem is to start. Whose problem is to get leads. So this is how I work with them further. Okay. But first of all we have to ask five people before selling to 500 people. That means we have to go one to one. The solution that we have found has to be known to the people. For example, if you take a solution of Kanudin then for whom is Kanudin a solution? It is a session for those parents who have a daughter. Okay. So you can create a community of such parents. Now many times what people do is that they start making sales calls now. Selling is not their future. They do not like selling. So if you start with sales calls then it may not be right. If you like selling then definitely do it. I do not like making sales calls so much. Although today I have learned to make sales calls. I like to educate. Like I am doing through this video. I am attracting financial advisors to you. You can send this video somewhere else. They may also get attracted. Please do send it. I am using my strength. I want to tell you the same thing. That you should also use your strength. Your strength is to make videos. Your strength is to send messages. Your strength is to do television. Use your strength and if you don't have any strength then make it right. Now what kind of content marketing can you do in these communities? Send a nice pinpoint banner. Post a video weekly. Send a message on WhatsApp on alternate days to add value. Right. So this content marketing you will gradually learn how to do it well. And when you join us we also teach you AI on content marketing, artificial intelligence from where you can take a lot of content, a lot of scripts and if you are our diamond member then we have already provided you a course by Diamond Resources where all the scripts and presentations are available, concepts are available which you can use for content marketing. Content marketing is the most powerful tool today which I am doing right now. Now how will you start the selling point? We will start the selling point one by one. So let's take a parent and uncover their problem of Kanyodon, add Canudon fund and after that you give them a solution. When you do one by one selling you are validating your ideas whether it is right or not. Is my script right or not? Is my presentation right or not? If you are not able to sell one by one or one to one then it will be very difficult for you to sell in a group. So first of all you have to master one to one selling. Now I am going to tell you a concept Minimum viable product which is also called MVP in the eyes of marketing. And any people who fail do not have a good MVP. So in life insurance suppose you close 3 calls out of 10, the rest are going on in follow up etc. Lets see the comparison. What happens in mutual funds is that 9 out of 10 are closed. What is the difference? There is a difference in minimum viable product. The minimum viable product of insurance is a long term commitment. A customer will have to put 2,025,000 in it. The minimum viable product of mutual fund is a SIP of 500 rupees. Now this does not mean that I start selling mutual funds or I sell mutual funds only. But try to understand this. So you also have to make your Instagram leads and ads. Okay? And level two is diamond which is deep learning, lifelong mentorship, deep sales system of communities and team. So your next step is to join our community or any community which can help you to actually do well. Because in India there is a lot of scope for insurance mutual funds there is a very high demand. But good people who are deep in knowledge are not available. This is a frequent complaint of the clients. So go deeper, spend money on yourself, learn. And if you learn then you will earn. Remember the point. Do let me know whether this video gave you clarity about what you have to do. If now you need a script or anything further, you can use chat, GPT or you can join our courses. If you are already our Silver member then go deeper. Product knowledge, financial planning knowledge meetings, presentations Digitization automation system making team support with diamond membership. I will see you in the next course. Do let me know. How did you find it?