Altig Orlovic Agencies with American Income Life
–Rick Altig, Chairman.
American Income Life continues to ride the wave. Every Friday, the leaders of American Income Life send a recap of company results to Torchmark Executives to let them know where we are at and where we are going. It’s called a Key Indicator’s Report. If you are a leader at Altig/American Income Life, you should keep one as well. First of all, you need to know what the key indicators are. They are pretty well the same for a brand new MGA to a multi-billion dollar company traded on the New York Stock Exchange. Let me give you the summary of their report. It may give you insight into your own.
-We are projecting toward our first $15 million month (in new ALP)…Ever.
-All time high in First Six Month production. That means strong growth, not relying on past accomplishments.
-Most Apps in one week. 12,467 new policy holders.
-All-time high, overall agent count. We will break 5,000 sometime before mid-year.
-126 new agents hit the 15% bonus for the first time last week.
-1,616 agents earned a bonus. That’s well over half of all submitting agents.
Pretty interesting what they measure, isn’t it? It is all forward-looking and growth-orientated.
Altig’s Board of Directors and Executive Council also met this week in Las Vegas. It was a mix of fun and business. Knowing how to do both is important. I’ll let your area BOD member or Exec Council members fill you in on some of the details, but here are my notes of the overall direction.
Love the quote from Rick. He is right. We have it backward. We think and say, “I’ll believe it when I see it.” If we read that backwards, we’ll never see it, because we didn’t have belief. I thought about that for a minute. Rick didn’t have anything to physically see. What he accomplished never existed. And if he would have keyed off of what he saw, Altig would be about 1/3 the size that it is. Because that’s the best and biggest that existed.
You may never have run a successful business before. You don’t even know that it would look like or feel like. But if you are ever going to succeed beyond where you have been, you need to have a belief beyond your current experience.
The cultural shift beginning in April will be a move AWAY from booking nights and pulling people out of the field and TOWARD more time working directly with sales leaders and in the field. Booking night can be one of the least enjoyable parts of our structure. It can also be among the most ineffective. How many highly successful sales organizations do you know that pull all their people out of their market places once, even twice a week for major blocks of time. It really doesn’t make a ton of sense. Plus, the world has moved one. We are no longer slow paced, we have texting, we have instant communications. Our methodology of communicating and doing business must reflect the world we live and work in.
Booking in teams, using synergy, and training in real life situations will dominate the scene. Referrals are what’s hot, and selling a hot referrals has got to be one of our core markets. Ilija grabbed four guys that don’t sell a lot to test whether this could really work. All four of them were having 25 presentations a week without booking a single appointment from the office. They started at 1:59 in the afternoon and closed down at 10 (with a referral). That’s an 8 hour day. One team of two wrote $18,824. Not bad for a couple of guys that are not normally our top performing sales agents. How many people can you teach at once? How many seatbelts do you have in your car? You can actually make one of the more tedious functions our jobs into one of the more exciting ones. You will hear more about that later as well.
We are shifting from a company that predominately teaches how to sell to one that teaches how to work. Not necessarily work more, but work smarter. But do not be afraid of a little hard work. I was reminded of that again this morning. The Mega-Millions Jackpot has reached a record $540 million prize. In 1996, Jeff Dampier won $20 million. Nine years later his sister-in-law and her boyfriend kidnapped and killed him. The next year Billy Harrell, Jr. won $31 million. Within two years, his wife divorced him, he bought a half a dozen homes and took his own life with a shotgun. In 2002, Jack Whitaker won the $315 mega-millions lottery. He was robbed of $545,000 in a strip club. His daughter and granddaughter were later both found dead. An Atlantic City casino sued him for writing $1.5 million in bad checks to cover gambling losses. People often glamorize easy money. The one’s you work for and earn mean a lot more and teach you how to handle it along the way. Working to accomplish your goals is a noble thing.
We probably have done a disservice to the company by talking about 20 presentations. That’s 4 in a 5 day workweek. 5 in a 4 day workweek. That’s the minimum. A good week is 25 presentations. Now you’re humming. If you have an off week, you end up with 18. Every RGA and partner was raised in that culture. Quite frankly, most of them admit that if they came in today in an environment where 8 or 10 presentations was culturally acceptable, they wouldn’t have made it. And these are partners. And we’re expecting a brand new guy to walk in and pull that off? Off course they’re going to be frustrated. Who’s going to have a solid long term career? The guy who is not taught how to work a schedule and ends up putting in 45 hours and making $40,000 or the guy that cranks out 50 solid hours in a week and makes $105,000. Yea, the second guy will learn and get better, quite quickly. The first guy will not feel successful and have a high turn-over rate. But a lot of us are creating that first guy by how we train. To be continued.
Top performers. Hawaii. $110,365. They closed 29%. But that’s not that big of a deal. The average agent in all of Altig is closing over 25%, or better than one out of four. Average size sale? $960 in Hawaii. Company average is $822. So here’s the quick math. 20 presentations. Close one out of 4, so 5 sales. Average sized sale: $822. So company-wide, if you see 20 people you will have better than 5 sales X $822. Or $4,110 in total ALP. That’s over $100,000 cash in-pocket a year. And that’s the average guy doing 20 presentations. We just need to teach people how to see 20 in a week and the rest will take care of itself.
#2. Washington. Six solid offices in that state, led by Nick Lorence and Redmond at over $30,000. Tacoma had $22,000. Olympia, Renton, Lynwood. Spokane. They have come a long ways; but there is still a ton of opportunity. Andrew Helgeson had the best stat line of the day. 32 appointments, 23 presentations, 7 sales for $7,524. Can you close one out of 3? Write $1,075 per sale? Then you too can have $7,500 in ALP. Just gotta see 20.
#3. California. $70,632. They’re closing better than one out of 3. So the below-average agent goes to 3 homes and picks up a sale. A personal paycheck of over $400. Every third home. That’s so good it should be illegal. Why wouldn’t you want to see 20 in a week?
#4. Virginia. $63,176. Virginia Beach and Richmond combined for over $50,000 of that. Jon Maust, Ryan Tucker and Troy Plummer run that deal. James Smith had a great week. 32 appointments, 22 sits and 10 sales for over $6,000. Thank you for showing us the way.