#010: Why Agents Should Recruit – Adam Maggio Interview [Podcast]

“Say YES to your business!” -Adam Maggio

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This week I had an opportunity to interview Adam Maggio. Adam has recruited and trained hundreds of voluntary benefit’s agents in his career and is someone that goes all out, all the time. His energy level, and stamina, are both unbelievably high as you will certainly see in today’s episode. He lives in New Jersey and certainly carries that swagger as well. You know what? I love him for it. I love people with swagger as long as they can back it up, and Adam can certainly back it up!!!

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During our Time Together Adam and I Discussed:

  • Why he went into insurance….
    • The money!
    • The people who were living the lifestyle he wanted either owned their own business or were in sales.
    • The start-up cost of going into business.
    • Why get paid for a sale once, when you can get paid for it over and over again?
  • Why a career in insurance is sexy!
    • If you are relatively creative.
    • Have a great work ethic.
  • The impetus for his success.
    • No “Plan B.”
    • Don’t limp into the industry!
  • Success leaves tracks!
    • Follow the people that are making the money you want to make.
    • You can do the things that people who make $40K or the things that thepeople who make $400K a year.
    • You can’t point fingers. It is up to you.
    • It they can do it, I can do it!
    • “If you fight for your limitations, you get to keep them!” – Michael Beck
  • His transition into leadership
    • He went into it reluctantly.
    • You run out of time without a team of people.
    • A lot of people go into management because they don’t want to work hard.
    • Not waiting for someone to build your team.
    • Making sure your focus is in the right direction.

Adam’s Thoughts on Recruiting, Especially if You are an Agent.

  • How you can recruit, even if you aren’t in a leadership role, and more importantly why you must recruit NOW!!!
    • The agent makes the most money by recruiting.
    • The best time to recruit is when you don’t have the pressure and accountability of recruiting.
    • Recruiting is an important stream of income for the agent.
    • Recruiting is at least as important as the sale of insurance.
    • Recruiting gives your business consistency. It keeps you from having huge ups and downs.
    • Recruiting creates a factory line.
    • People are miserable. Let’s help them get to place where they can make an insane amount of money and love what they are doing!
    • How recruiting is directly tied to Tim’s definition of sales: “We get people to do what they should do anyway, but would never do if we didn’t come along!”
    • If you really care about the people in your life, why wouldn’t you offer them an opportunity to change their life?
      • They fear the failure of their friend/family member.
      • We have to get over that. That person’s failure is on them!
      • This opportunity has dramatically changed the lives of many people, including Adam’s and mine.
      •  “Out of every 10 people I interview, 8 don’t take the job. Be one of the 8. I just don’t want you coming to me in 4 years asking me why I didn’t give you the opportunity.” -Adam Maggio (Tweet That)
      • Recruiting builds your belief.
        • If everyone in the industry would recruit, it would dramatically change the industry.
        • The person that gets the most out of it is you.
      • Quantity vs. Quality
      • Selection process.
      • Use the quantity to find the quality.
      • You can’t judge off the resume.
      • There is no pattern of the people who are successful.
      • Judge based upon their work ethic.
  • Many people oversell the opportunity.
    • Understand what your time is worth, and let the recruit know.
    • Be straight forward – be upfront. You will catch much higher quality people.
    • Demand your hourly wage from the recruit.
    • Most recruits are coming from an hourly wage mindset.
    • We are in this business to compress the time.
    • I’m worth $1,000 an hour.
      • What is your hourly rate?
      • Project that to the recruit.
      • The fact that you are willing to give them your time to mentor them, at that rate, creates incredible accountability.
      • Assign homework. Hold them accountable.
      • Ask them what they want to make. Most people say $100K/year.
        • $100K/year= $50/hour.
        • What is required to make $50/hour?
        • People often value other people’s time more than they do their own time.

The Characteristics of Successful and Unsuccessful People.

  • How many time a day/week they say “YES” to their business. Grade yourself!
    • Ways to say “YES” to your business.
      • 1st week they have to “man up.”
      • Day 8  and they are still working hard, good sign!
      • Marketing NOW!
      • Learn on the job.
      • Demand your trainer’s time by having consistently massive activity.
      • Being relentless.
      • Don’t have to be perfect, “Progress not perfection.” – Mark Zuckerberg
    • Ways to say “NO” to your business.
      • Taking coffee breaks.
      • Leaving early to beat the traffic.
      • Taking “breathers.”
      • Gossiping, whining and complaining.
      • Two hour lunch break.
      • Waiting for training.

Adam’s Mindset

  • I’m the CEO of my own company.
  • My manager is my support system.
  •  Ready, Aim, Fire? NO!!! From a marketing perspective is needs to be: “Fire, Aim, Ready.”
  • We both wish the cost of entry into the business was higher!
    • Creates accountability.
    • Skin in the game.
  •  “Success is Voluntary.” – Tim Martin
  • “Success is Voluntary, but it is an obligation.” – Adam Maggio
  • From park bench to Park Avenue!
  • “The harder I work, the luckier I get!” – Samuel Goldwyn, American Film Producer 1879-1974

DaVinci Financial & Insurance Advisors

  • What Adam is doing now!
  • How the laws have changed the entire life insurance industry.
    • Life insurance is based upon tables.
    • Old tables resulted in higher rates.
    • People are now living longer.
    • 2009 – Law change created much lower rates.
  • Higher-end clientele (business owner) appreciate:
    • The technology, meet with people via web
    • The fact they work with virtually every life carrier
    • DaVinci looks at what they have, if they can’t help them they tell them.
    • Business owners are busy, and they want to have a conversation, not a sales pitch.
  • Brilliant people sitting in the back office.
    • Let the analytical people take care of the analytics.
    • Let the sales people, actually sell.
  • They have been featured in:
    • The Wall Street Journal
    • Yahoo Money
    • Reuters

One of Adam’s strengths is surrounding himself with smart people and he has certainly done that at DaVinci. If you are interested in what he is doing, I would suggest you go to the site we mentioned in the show: http:adammaggio.com/SIV Like I said in the intro, I’ve know Adam for a while now and I promise he will take great care of you. Thanks again for listening and I will see you right back here next week.

How to Get in Touch with Adam

Adam on Facebook

www.adammaggio.com/siv

Please note: I reserve the right to delete comments that are offensive or off-topic.

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