My best friend, Hendri, is a top-notch AIA insurance agent, and he's been in the business since 2008. And I've always told him I love his business model because:
- it's low cost (no cost of rental etc, except for meeting clients)
- it's recurring in nature (as long as policyholders renew/pay every month or year)
He on the other hand, says:
- he likes my business (rehab) because of its growth nature (we grew from $65 to 7-figure, recurring)
- his income grows very slowly, more of addition rather than growth-like
- and that his business entails a lot of admin, negotiations and persuasions, which can be tiring
Hmm, this is possibly the case of “the grass is greener on the other side”
…or just me being a really boring dude when it comes to income, because I really like the predictable, sustainable and recurring nature of his insurance income.
When income is so predictable, life becomes very nice, comfortable and predictable, according to my thinking.
And since I strongly believe in insurance (I have bought enough for my whole family to be fully covered for life and have used them before), I have thought, many times, to be an insurance agent. Part time or full time. Often, it's the amount of admin that makes me cringe and re-think like 100000x.
I'll keep mulling over it. I still like my internet business…but I hadn't had enough breakthrough ie > $1000/month.
Edited 7/5/2017: at this point in time, I am not ready to go into becoming an insurance agent, though I share about insurance with all my patients and advise them accordingly. If I ever do join an insurance company, it needs to be a very established one where I direct my insurance clients to them to handle everything because I can only ever do on a part time basis. I will not rule out later, but not is likely not a good time.