Oct 17, 2023
Joining Wade again is Kyle Fuller of Factum Financial. In this podcast episode, they delve into the often underestimated concept of acquisition costs and its vital role in sustaining a business. They shed light on Factum Financial's innovative strategies that support insurance agents in this aspect. Factum's approach encompasses a franchise-like model, the utilization of a Cash Flow Dashboard for tracking wealth, and comprehensive educational courses for ongoing client enlightenment. This integrated system not only enhances efficiency but also fosters robust relationships, guiding both agents and clients toward a path of prosperity and success.
Episode Highlights
01:27 The reason most insurance agents fail during their first 24
months in the business
03:42 Cost of technology as part of the cost of acquisition
06:11 Why you should get a mentor
07:32 The need for adequate infrastructure and professional help
for new agents to effectively manage their time and resources
09:56 Why agents fail in the business in the first two years
15:49 Analyzing the reasons for agent failure in the business due
to challenges posed by having to do everything themselves
18:51 Personal gratification obtained from working to build systems
and processes that empower agents to have an easier, more enjoyable
time in their businesses
23:22 Importance of ongoing education and client care after selling
a policy
30:28 Cash flow dashboard: A system developed to provide agents and
clients with a high-level wealth conversation in a systematic
manner
Episode Resources