Rewire Your Brain To Think Like A 7 Figure Insurance Producer

So, ladies and gentlemen, in this video, I am going to rewire your brain to think like a seven figure producer. Now, in full transparency, I myself am not a seven figure producer, but because of the unique position that I'm in with my marketing agency, I've had the opportunity to work with multiple seven figure earners in the insurance industry and even some eight figure earners. So what I'm going to be doing is distill those lessons that I've learned from those individuals and essentially lay it out and help you rewire your brain so that instead of thinking in these limiting beliefs and things that are keeping you in your current situation, you can shed those limiting beliefs and instead adopt the way that these much more successful people think so that you can hopefully achieve similar results to them. So without any further ado, let's, let's go ahead and dive right in. Now the first thing that you really need to understand when it comes to reframing your mind and thinking like a seven figure earner is just diminishing what that number actually is and realizing how big of an opportunity we all have just by nature of the industry that we're in. Okay? So the people that earned seven figures, they never have like a scarcity mindset, as cliche as that sounds. But when you talk to broke people or agents that aren't seeing success, they don't view the industry as that big. They say things like, oh, well, what if this becomes saturated? Or yeah, I don't think there's that much money in this business, or yeah, if only I could make X, I'd be okay. But in reality, the insurance industry is a multitrillion dollar per year industry and it's growing. Most of you don't even comprehend. I mean, it's hard for, it's hard for anyone to even comprehend how big of a number like trillions of dollars is. So I always give this example. So in 2023, there was $1.87 trillion in insurance premiums just in the US alone. Okay? Now if you take that number, like keep that number in your mind. Now if you were to make $1 per second, okay, you would be making $86,400 per day. Now if you would be happy making that nod your head, right? Of course you'd be happy. If you made $86,400 a day, you would be rolling in cash, right? But here's the thing, we got $1.87 trillion in premiums alone in one year, $86,000 a day. So if you saved every Single dollar that you made making a dollar per second or 86 grand a day, how long would it take you to save $1.87 trillion?

As I'm being silent, think about your answer. Pause the video. Guess I'm about to tell you the answer. And the answer is not 50 years. It's not 100 years. It's not 200 years. It's not 500. It's not a thousand years. It's 59,300 years is how much it would take you to save the amount of money that flowed into our industry in one single year. Okay? So to say that the insurance industry is massive and there's so much cash and is a gross understatement. You will never even begin. Like you are not even a fart in the wind, right? You are so tiny compared to the amount of money that's in this industry. You aren't even. You will never scratch the surface. It will never become saturated because of you or because of even. I mean, every single person watching this video could become a seven figure earner tomorrow and it would not even affect the industry at all. Nobody would even notice or blink. Okay? You have to realize that. Because when you realize that, you realize how small you're actually thinking and how little and achievable your goals are. So that's the first thing. When I talk to these guys, when I talk to these big agency owners and these big producers, they are students of the game as well and they're interested and fascinated by the industry and they study these things, they look into them, they understand the big economic forces that take place in our industry and they use those to get rich. Okay? So that's the first thing. The second thing is you ultimately need to define your why. Okay? What I've found is that people will work hard enough to achieve a certain income until the pain of growing is more than the pleasure of earning more. Right? And earning a seven figure income, it's not like crazy money. It's not anything insane. It's very achievable and if you do the right things. But it's not easy. Okay? So you need to figure out what are your reasons why? Why do you need to earn 7 figures? Why do you need to earn multi 6 figures? Why do you need to build a massive business? What is it that's actually driving you to do that? Because if there's no reasons, if you haven't defined that, the second it gets hard, you're going to turn around and quit like 90, 92% of the industry. Does. So you need to define your why and really think about this. One thing that I've done and that I found to be extremely valuable is I'll create myself a vision board. It's actually literally the home screen on my computer right now as we speak, and I need to update it. I hit a couple of the things and I have new ones that I need to add. So I need to change mine. But every time that I open my computer and look at it, I'm reminded of why I'm doing what I'm doing every day, day in and day out, and dealing with all the BS and the bullshit, pardon my French, that comes up on a constant basis. I know why I'm doing it. And anyone that achieves anything big, they know why they're doing it. They're not just wandering aimlessly. So you need to define your why. And these shouldn't just be things of like, oh, I want to make more money or whatever. What are you going to do with the money and why does that matter? Right? For me personally, I'm really just, I'm motivated by progression. Like, I get depressed if I'm stagnant. So for me, like, I have to grow, I have to continue to do these things. I'm naturally motivated to do that. I. But I also still needed to find my, my why and my vision because that's what actually helps get me through the tough times. So that's. The next thing is defining your why. Now, seven figure earners, they also take responsibility for literally everything. Okay, it is all their fault. But because you're now watching this video, it is all your fault. There's a book called Extreme Ownership. It's written by a guy, he's a Navy SEAL named Jocko Willink. And basically he talks about the laws of combat and running a team and how important it is to take extreme ownership over everything in your world. So when you're running a business, there's two different mindsets that you can take. You can either take the victim mentality mindset or you can take the extreme ownership mindset. And nobody that has ever achieved anything big or ever hit their goals chooses the victim mentality because it puts you in a disempowered position. And if you're watching this now and you've ever said things or blamed vendors you've worked with, or blamed your upline or your IMO or blamed the carriers or whatever, you are a loser. And hopefully by watching this video, you will shed those mindsets because it will cause you to lose consistently and you won't achieve your goals if you think that way. You have to take full ownership and take, take on the blame for everything that happens, right? If you pick a bad IMO and they screw you over and hold your contracts, guess whose fault it is? It's yours, right? I made that mistake. Guess whose fault it was? It was my fault because I didn't do research and due diligence and I just joined the first agency, right? The free lead program I used to work at. If you haven't heard that story, if you write a bunch of business and get a bunch of chargebacks, guess whose fault it is? It's yours. It's not the insurance industry's, it's not the clients. It's your fault. You didn't do enough research on what products you were selling and you sold them to the wrong people or you sold them incorrectly. Right, I got it. I had an agent who stuck me with $30,000 in fraudulent chargeback debt and I was pretty pissed off. But guess whose fault it was? It was mine because I wasn't monitoring it and I was being, I was being ignorant and like I wasn't paying attention. And all of a sudden this guy hits me with 30 grand in fraud debt. My fault. So when you shift to that mindset, first you got to take the ownership, first it becomes your fault. But the second thing immediately after is, okay, well how can I control this and avoid this happening? Or if it's good, how can I control this and have it continue to happen, right? Because if it's everyone else's fault when it goes bad, it's also everyone else's fault when it goes good. But if it's your fault when it goes bad and your fault when it goes good, now you have control. And these guys that are making seven figures and multi seven figures and even eight figures, they think in that way. So like, take out the word from your vocabulary, someone else's fault, Couple words. Take out the word of I'm a victim. Like never say I got scammed, I got screwed. No, you didn't get scammed. You didn't get screwed. You made a bad decision and then you had to pay for that decision. All right, that is the next thing. Now we're going to get a little bit more tactical. Top producers think in systems they start to treat the insurance industry like a business. Most people treat this like a hobby or they treat it like a get rich quick scheme. And when I say what I mean, that is like people think so short term, they come in, they buy A batch of leads, they don't immediately get their money back. And then they say, okay, that lead vendor sucked, now I'm going to go on to a different vendor. And they do this and they repeat this process over and over and over and over. And they never track any of their numbers. Nothing gets done whatsoever. And then eventually they fail out of the business because they never even knew how much they were making. People that are actually successful, they track everything down to a table. They use spreadsheets.

As boring as that is or as painstaking as that is, they use spreadsheets to track their numbers. And they think of their business like a system. So let me explain what that means. In an insurance business, the first piece of the system is client acquisition. It's how you get clients, okay? So they spend a lot of time and effort mastering this and they get a base understanding of how marketing works. They don't need to be marketing experts themselves but, but they understand how it works, what makes good marketing versus what makes bad marketing. Because the marketing and the lead acquisition can like determines everything else that takes place in their business. So they figure this out and they master that piece of the puzzle, right? Then they focus on improving their sales skillset and their lead nurturing. So how do they get those leads to then book appointments on their calendars and what are the tasks that they're doing on a daily basis? So for example, once they get to a point where they're making enough, they'll hire an appointment setter who will go and call their leads and set appointments on their calendar. They're outsourcing and treating it like a business, right? And then once they have one appointment setter, if they get to a point where they have so many leads, then they hire multiple appointment setters and then they can hire other agents to help them close. So what they're doing is they're going through this process of like, here's my business from lead acquisition, booking appointments, running appointments, closing the deals, and then the back end office work that comes in and they look at that in totality and they say, okay, cool, where am I most effective and highest leverage? Right? Well it's going to be on selling the policies. So then what they'll do is they'll create systems and they'll outsource every single other element. So I'll give you an example. I'm pretty close with a guy who, he makes multiple seven figures only selling annuities and long term care. Okay? And so what this guy does is he does seminars about Social Security and Then Cross sells annuities and he also does some seminars just talking about retirement and annuities. So he'll have someone that goes out, they do all the marketing for him. We're actually doing some, some consulting with this guy to help him optimize his marketing, but they'll do the marketing for him. He goes out and runs the seminars. He has his assistant set the appointments with all of the people that went to the seminar. And then all he does is, does the seminar, runs the actual appointment, and then his team does all of the paperwork and all of the application and all of the back and forth with the carriers. So the reason he's able to make so much money is he's only doing the things that make money. All day long he's just talking to clients and doing seminars, talking to clients and doing seminars. He doesn't do any of the backend, any of the paperwork, any of that stuff. It's all handled for him by his team. And in fact, this guy's doing so well, he, his biggest bottleneck right now is he just needs to hire more assistants to do the paperwork for him. And he's legitimately making multi seven figures a year because he is treating it like a business. Dumb agents will say, oh yeah, I don't have enough time to dial so I'm just going to stay where I'm at. No, find someone to come in and make those calls for you. And then if you don't have enough calendar space, well, what are the other things you're doing that don't make you money? If you're spending all your time going back and forth with the carrier and doing paperwork, hire someone and train them to do that. That's the key, is you just keep trading up. You keep trading up and you can do that even at a small scale. The next thing is expanding your time horizon. So the beautiful thing about the insurance business is we get these things called renewals that stack up and stack up and stack up over time. And then also when you start selling to wealthier clients and you sell more advanced markets, the pay cycles are longer oftentimes because it takes some to get things approved. So you know, for example, if you write an annuity, it might take 30 days for you to get paid on the annuity. Most people think in week, like not weak, but we k they think in seven day time cycles. So you buy a pack of leads, how many did you sell during that week? And did I make cash immediately? If you didn't sell anything in the first seven days, then you say the leads are trash and then you go to the next vendor. But oftentimes people aren't ready to buy just immediately. Like you have to factor in sales cycles and you have to factor in carrier approving the sales cycles. So top producers and people that are making more money, they factor in those things and they don't think just with their emotions. They start to take into account the time cycles of things and then they think in longer time horizons. So for example, if you went hard for the next five years, how much would you have in renewals coming in every single year and how many more clients would you have? Right, versus oh yeah, I didn't make any cash this week. I need to go use a different lead vendor. This didn't work. The longer on time, the longer time your time horizon is and the bigger time cycles you're thinking in, the more money you can make and the more successful you will be. I talked to people that are thinking in 10, 15, 20, 30 year time horizons and they're talking about building generational wealth for their family with their agency and with their book of business because they know that the renewals compound and compound and compound. So think in bigger time horizons. The next thing is knowing when to scale and knowing when to fix a bottleneck. So we talked a little bit about this just a moment ago when I was talking about thinking in systems. But part of the thing is when you track your numbers, you can lay everything out and look at what is the biggest thing stopping us from growing, right? So sometimes, like for example, let's say your cost per lead is 20 bucks, your cost per appointment is 150 bucks, but your share rate is 10%. Well, you should probably put all your focus on improving your show rate. Well, let's say your share rate is 60%, but you're only closing 5% of people you talk to. All right, well, let's put all of our effort on the closing, right? So you think in systems and you, you can determine what the bottleneck is. But also you need to know when to scale. Like, I'll talk to people that are getting like for every $1 they put in, they get $10 back. Like some of our, some of our clients and they're like, yeah, like I'm trying to improve my show rate. Like, dude, no one cares. Spend more money scale. If you're putting in a thousand bucks and getting out $10,000, put in $10,000 and get out $100,000. Like sometimes it is literally that simple of you just need to put in More inputs either make more dials or hire more appointment setters and spend more money and run more employments. That's it. It's not that complicated. But most people have never scaled something or put more into something or sell spent a lot of money on ads. That's another thing is these top producers are willing to put money in. They're not gun shy when it comes to spending money on marketing because they realize that all of the money they put into marketing, as long as it's good marketing, is bringing them more money back in terms of profit and sales. So you need to know when to fix the bottlenecks and you need to be thinking in this way when to fix bottlenecks in your business. The only reason you would need to fix the bottleneck is if it's stopping you from scaling. Otherwise you're scaling and you're pouring in more cash to increase your income. You're not just going to accidentally find your way with a seven figure income. It doesn't happen that way. It has to be intentional. Okay, now the next thing is thinking in money models and lifetime value. All right, so this, this kind of ties back into our piece of like thinking about building a business. Instead of just wandering your way around from lead vendor to lead vendor or whatever, you know, whatever unsuccessful agents are doing, instead you start to think about your clients and their ltv. So all business is, is it's simply a game of lifetime value divided by the cost to acquire a customer. Right? The higher that ratio is, the better. So when you have clients instead of just ghosting them after you make one sale, you should be trying to get referrals, add on different things to your product line that can increase your lifetime value. Because I'll give you an example. People that sell final expense, their cost to acquire a customer has to be like under 200 bucks for them to be profitable, which is extremely difficult to do. So that's why when you talk to a final expense agent, they're only worried about how can I, how can they get the lowest cost lead? And they're just like, it's a, it's a terrible business model. So they end up spending all their time trying to fix like just get your cost as low as possible. Right? But you can only get your costs so low. There's other people where their lifetime value, their average lifetime value of a client is like 30 grand. So if your average lifetime value of a client is 30 grand, well, who cares if you pay 5 grand to acquire that client if the LTV is 30?

So you need to start thinking of like, okay, every time I get a client I'm building this list. What are the different things I can sell them? If I'm selling annuities, maybe I can sell them Medicare on the back end or long term care on the back end or something that has a recurring element. Or maybe I start taking assets under management and I build that recurring element. Or if I'm selling infinite banking to business owners while I'm building those renewals. But maybe I could also add on group health plans or something else like that that has the recurring element. You always want to have a portion of your business that gives you a lot of cash up front and then you want to have a recurring element. Those are the best businesses that are able to scale the furthest and the fastest. And most people like, they just ignore their clients. Whereas your client base is the most profitable leads that you have because you've already paid to acquire them. If you sell them more things, it's all profit. So think of your client base like a list. Care about them, nurture them, give them value and sell them more things. Now I'll add to that. Actually these big companies that do billions and billions of dollars a year, that's the way that they think, like Ethos, their whole business model, they own the book of business. When you sell a policy with ethos, don't quote me on this, but I'm pretty sure I heard this through the grapevine from someone that I trust. When you sell a policy through Ethos, they own the book of business. So what they'll do is they'll take all those clients that you write on Ethos and, and they'll send them other offers. Hey, do you want dental and vision? Hey, do you want this? Hey, do you want accidental? They're selling them all these other things that are just pure profit for them because you've already acquired the client for them. See, these big companies are thinking about their customers as data and they monetize that data and they sell them more things. So ladies and gentlemen, if you implement all of what I told you, you will start thinking in the same way that seven figure producers think. Now obviously I'm not saying from watching this video you're going to go out and make seven figures a year in income. It's possible, but you're probably not going to do it because if you're like most people, you're going to watch this video, think about everything that I said and then ignore it and not take any action. But if you are one of the few people that actually implements things that you learn instead of just mentally masturbating on the Internet all day, then I would highly recommend clicking the link down below to book a call with our team where we can talk about helping you implement a lot of these lessons that we've learned into your business to help you scale your agency so that you can reach whatever your income goals actually are. So if you want to do that, click the first link down below in the description. And if not, either way, I totally support you and hopefully you get more value from our other videos. I'll see you in the next one.