Home: Message List - Life Insurance, Health Insurance and Retirement Planning Services...

Re: Life Insurance, Health Insurance and Retirement Planning Services...

Lighthouse24 — Thu, 06 Dec 2007 18:07:18 GMT

You may already have thought of this, but . . .

If you have the knowledge and resources to expand your business into another arena like insurance sales, why not become a business mentor for someone who is eager to start-up and run his or her own company? Just look at all the people (even in this community) who've gotten sucked into MLM rips-offs and the like. You could help someone like that set up and run his/her own firm by providing the initial funding (retaining a minority ownership interest in return for your investment) and by coaching the person toward success.

If that firm became an established, viable option for meeting your potential consulting client's needs, you'd have less of a conflict (you'd just be a shareholder in one of many insurance firms the client could choose -- you'd disclose that status to them, and so long as the client was not a government agency or contractor, everything would move forward normally). If the new enterprise tanked, you have some tax deductions.

I've done this twice and it IS time consuming in stages, but I don't think it would take any more total time than starting up, marketing, and operating a new "branch" of your own operation.

Just something to consider . . .

Re: Life Insurance, Health Insurance and Retirement Planning Services...

CorpCons08 — Thu, 06 Dec 2007 16:16:54 GMT

Thank you all. I will keep out of the Insurance field to keep my focus on consulting.
I appreciate the feedback received.

Re: Life Insurance, Health Insurance and Retirement Planning Services...

Ed O'Gee — Thu, 06 Dec 2007 15:46:14 GMT

CorpCons08,

Hoping this answers your question. About two years ago I tried to add a module to my sales training program around leadership development. Since I deal with the sales forces of small and meduim size businesses, I thought adding a leadership development module would help with sales managers and company leaders. While my clients thought it was great and three asked for the module to be added to their training, what I found was that offering the service actually took away from my core which is sales training.

It is not that I think my leadership module was bad (lol), but my core is in sales training, particularly getting new reps comfortable with prospecting, cold calling, and generating client referrals.

I believe offering clients comprehensive solutions is what we must do as consultants, but I think I've found a great niche and disturbing that niche by offering non core services, for me at least was a mistake.

Re: Life Insurance, Health Insurance and Retirement Planning Services...

CorpCons08 — Thu, 06 Dec 2007 15:25:18 GMT

It is helping each other that makes this forum so successful.
CorpCons08

Re: Life Insurance, Health Insurance and Retirement Planning Services...

LUCKIEST — Thu, 06 Dec 2007 15:24:07 GMT

It is great that we can help one another (business wise).
LUCKIEST

Re: Life Insurance, Health Insurance and Retirement Planning Services...

CorpCons08 — Thu, 06 Dec 2007 15:16:46 GMT

I will look into their question...
CorpCons08

Re: Life Insurance, Health Insurance and Retirement Planning Services...

LUCKIEST — Thu, 06 Dec 2007 14:31:18 GMT

CorpCons, There is a new post from people/FlixInABox27 looking for insurance.
Can you help them.
LUCKIEST

Re: Life Insurance, Health Insurance and Retirement Planning Services...

Lighthouse24 — Wed, 05 Dec 2007 20:54:56 GMT

No. Total conflict of interest. If those are relevant products for a client, my role is to help the client identify the best solutions. I cannot have a vested interest in one of the alternatives and perform my job ethically. Besides, I'm really pretty good at what I do (developing people and guiding organizations). It wouldn't make any sense to take time away from that to do something I'm not good at (selling insurance).

Re: Life Insurance, Health Insurance and Retirement Planning Services...

CorpCons08 — Wed, 05 Dec 2007 20:39:26 GMT

Thank you for asking for clarification.
I am asking whether or not you see this as services you would offer to your clients.
Services that you as a consulting firm would offer.

Re: Life Insurance, Health Insurance and Retirement Planning Services...

Lighthouse24 — Wed, 05 Dec 2007 20:37:27 GMT

To clarify the question, are you asking if I see these as (a) services I would offer to my clients through my consulting firm, or (b) services I would offer as a benefit to the employees of firms I own or manage?