For additional information Click Here
I”m grateful to be the featured member of the day again here on IBO.
Many of the IBO regulars don’t know that I make most of my income in the insurance business. I got started in the insurance business in 1979 in Battle Creek, Michigan. I was 20 years old. I”m 57 now.
I moved to Albuquerque, New Mexico in 1989 and transitioned to a mostly “wholesale” insurance business where I became a “middle man” recruiting agents for independent life & health insurance companies.
My income was (and mostly still is) generated when an agent sold a policy for one of the companies I represented.
I got married late in life. I was 42 when the twin towers went down. Two month’s to the day later my first son was born.
Although I represented dozens of products, health insurance had become the dominate part of my business by 2005 when my second son was born.
After 15 years I had built a $7,000 income per month from the health insurance on an average override of ¼ of 1 percent of the premiums. I’d recruited and trained thousands of agents in 7 states mostly at my own expense.
Although I had another $4,000 of monthly income from life and other insurance, health insurance was our core business.
Over 15 years I’d “stair stepped” up from working alone in a 150 square foot office to having 3 full and 1 part-time employees and 1,000 square foot office.
In 2008 President Obama was elected and with the help of the Democrat congress, my health insurance business changed dramatically.
3 years later I was working out of my house for the 1st time in 25 years and my employees were all unemployed.
My income had gone from around $15,000 a month to $3,000 a month. My wife, with a masters degree in healthcare went back to work for the first time since my kids had been born as a cook at a restaurant, the only job she could find.
I cashed out ½ my retirement accounts to catch up the 25,000 in back payments the week before the bank was going to sell my home on the courthouse auction steps, became “Mr Mom” (since I was the one without a “schedule”) and went back to work selling insurance.
It was also the time - 2012 - that I had decided to learn how to market online and found the IBO Toolbox platform. In January of 2017 I will have 5 years on IBO.
In 250 weeks, I’ve been “featured” 32 times.
During that time I’ve learned a lot about internet marketing. I learned enough to market auto-responders, websites and various other tools to those same insurance agents and agencies that used to sell health insurance through my office.
I’m still in the insurance business but I’m a lot more diversified in the information and online marketing tools business now.
About 10 percent of my clients are home based business owners that have nothing to do with insurance. Some, of course, have become new insurance clients of mine too.
With the Presidential election of Donald Trump, the Republican party for the first time in 8 years has the control to be able to overturn or change the so called “Affordable Care Act” - better known as Obamacare. And it’s none too soon for me, or the country...
This year - 2017 - we are seeing a national average…
- 44 percent increase in Premiums
- 20 percent increase in Deductibles
The good news for insurance agents is that there are a lot of people who need supplements to fill all the gaps that Obamacare created.
The good news for most of us here on IBO is that a lot of American’s need extra income to pay the extra costs of Obamacare until/unless it’s replaced with something more affordable.
I’m confident that will happen but I’m also sure that it will take several years to undo the damage.
In the meantime, learn the lessons of my experience.
#1 - Don’t have “all your eggs” in any basket. It’s too risky - especially if you are involved in any business that has any level of government regulation.
#2 - Whenever you have one of those “Stuff hit’s the fan” moments/weeks/years react as quickly as you can. Years of effort (and income) can go away very quickly.
#3 - Count your blessings. Although my relationships were affected, I still have happy, healthy kids and my wife (who started her own part time business last year) has a new respect for self employment. We are all healthy and I’m always reminded that most of the world would love to have to “endure” the prospect of ONLY having $3,000 a month to live on for a family of 4.
Keep smiling. I am...
Bill Bateman (that’s like Batman with an “E” in the middle I tell people on the phone)
PS - one of the tools I use to promote by online business links is LeadsLeap. I’d love for you to take a look. I wish I had found it years before I did.
PPS - LeadJumper is my platform of choice to generate LOT’s of leads. I encourage you to take a look at that too