Hello there,
I'll start by saying I'm currently a junior at a university in Kentucky studying Neuroscience, and I'm 20 years old. Ever since high school, the goal was to become a doctor, and thankfully, I got a scholarship to study Neuroscience in college. So far, I've maintained a perfect GPA amongst other activities, and as a junior, my peers are already applying to medical school. The problem is I don't feel like I'm passionate about medicine anymore. I've shadowed a few doctors, and entrepreneurship is just more exciting to me.
My parents really want me to become a doctor. They feel like I'm "wasting my potential" by not going to medical school, especially because I have the grades and the clinical research experience to get into medical school. After reading the Millionaire Fastlane and Unscripted , I know that becoming a doctor is basically living the scripted life especially if I'm not passionate about it. I'd have to take on hundreds of thousands of debt in med school and wait till my 30's before I start making good money. Like MJ mentioned in his book, if I was given a billion dollars, going to the hospital to help patients will not be my focus. I'll be focused on building even more businesses and adding value to the world to make it a better place, while creating multiple charity foundations in Africa and investing in entrepreneurial endeavors in Africa to make the continent better.
I'm at a critical stage of my life where I feel like my career decision should not be taken lightly. Instead of doing what I'm passionate about, I agree more with the idea of doing something that takes advantage of my unique strength. This is something that I learned about from the book "So Good They Can't Ignore You" by Cal Newport. MJ's Unscripted also talks about not relying on passion. As we become really good at something, we tend to become more passionate about it. So, my goal is to go into a business that takes advantage of my above-average abilities and that adds value to people.
I'm currently a life insurance agent, selling Indexed Universal Life Insurance (IUL) and final expense life insurance, but I'm honestly losing hope in the IUL product, and considering getting a different sales job to improve my sales skills. I've already spent a few thousands dollars on sales courses like Jeremy Miner's program to improve my sales skills because I know sales is one of the most useful skills. I see the IUL being marketed and sold to people who are not the ideal prospects. I've really been contemplating if I wanted to build my own life insurance agency, but it doesn't fully follow the CENTS commandments. In term of control, most life insurance agencies get contracted to life insurance companies through an IMO, and that IMO can fail. If it fails, I'll lose my agency and have to transfer to a new IMO. Also, in life insurance, 99% of people fail in the first 3 years, and building an agency with downlines is truly the only way to make it a business where I don't have to sell insurance to make a living. I currently have no downlines; I'm focused on selling. In terms of entry, people need to get licensed to sell insurance, so that's not too bad.
I believe there's a need for life insurance, but sadly, most people don't see the need except the senior markets (between age 60 and 80) who can see death approaching. Also, MJ talked about the idea of productocracy and how good products get referred. In most cases, people don't even like talking about their death let alone referring life insurance. In terms of time, I'l need to recruit a lot of people to build my agency and not trade my time for money. In terms of scale, it's a scaleable business, but scaling involves constantly recruiting people. I mean, Patrick Bet David has a life insurance agency worth close to 10 figures, and he's not under an IMO, but I just don't know if the life insurance business is the right business for me.
I'm considering getting a degree in accounting in addition to my neuroscience major (since I can't do much with a Bachelor's in neuroscience besides working in a lab or going to grad school). Talking about strengths, I've always been good at math, so I think building a business in the financial service industry is what I'm leaning towards. As an accountant, I can build an accounting firm helping people filing taxes while also helping clients with reducing taxes using permanent life insurance. What do yall think about building a business/agency in the life insurance industry? What do you think about an accounting firm? What do you think about combining both? What businesses can take advantage of my knack for mathematics and problem-solving?
I'll start by saying I'm currently a junior at a university in Kentucky studying Neuroscience, and I'm 20 years old. Ever since high school, the goal was to become a doctor, and thankfully, I got a scholarship to study Neuroscience in college. So far, I've maintained a perfect GPA amongst other activities, and as a junior, my peers are already applying to medical school. The problem is I don't feel like I'm passionate about medicine anymore. I've shadowed a few doctors, and entrepreneurship is just more exciting to me.
My parents really want me to become a doctor. They feel like I'm "wasting my potential" by not going to medical school, especially because I have the grades and the clinical research experience to get into medical school. After reading the Millionaire Fastlane and Unscripted , I know that becoming a doctor is basically living the scripted life especially if I'm not passionate about it. I'd have to take on hundreds of thousands of debt in med school and wait till my 30's before I start making good money. Like MJ mentioned in his book, if I was given a billion dollars, going to the hospital to help patients will not be my focus. I'll be focused on building even more businesses and adding value to the world to make it a better place, while creating multiple charity foundations in Africa and investing in entrepreneurial endeavors in Africa to make the continent better.
I'm at a critical stage of my life where I feel like my career decision should not be taken lightly. Instead of doing what I'm passionate about, I agree more with the idea of doing something that takes advantage of my unique strength. This is something that I learned about from the book "So Good They Can't Ignore You" by Cal Newport. MJ's Unscripted also talks about not relying on passion. As we become really good at something, we tend to become more passionate about it. So, my goal is to go into a business that takes advantage of my above-average abilities and that adds value to people.
I'm currently a life insurance agent, selling Indexed Universal Life Insurance (IUL) and final expense life insurance, but I'm honestly losing hope in the IUL product, and considering getting a different sales job to improve my sales skills. I've already spent a few thousands dollars on sales courses like Jeremy Miner's program to improve my sales skills because I know sales is one of the most useful skills. I see the IUL being marketed and sold to people who are not the ideal prospects. I've really been contemplating if I wanted to build my own life insurance agency, but it doesn't fully follow the CENTS commandments. In term of control, most life insurance agencies get contracted to life insurance companies through an IMO, and that IMO can fail. If it fails, I'll lose my agency and have to transfer to a new IMO. Also, in life insurance, 99% of people fail in the first 3 years, and building an agency with downlines is truly the only way to make it a business where I don't have to sell insurance to make a living. I currently have no downlines; I'm focused on selling. In terms of entry, people need to get licensed to sell insurance, so that's not too bad.
I believe there's a need for life insurance, but sadly, most people don't see the need except the senior markets (between age 60 and 80) who can see death approaching. Also, MJ talked about the idea of productocracy and how good products get referred. In most cases, people don't even like talking about their death let alone referring life insurance. In terms of time, I'l need to recruit a lot of people to build my agency and not trade my time for money. In terms of scale, it's a scaleable business, but scaling involves constantly recruiting people. I mean, Patrick Bet David has a life insurance agency worth close to 10 figures, and he's not under an IMO, but I just don't know if the life insurance business is the right business for me.
I'm considering getting a degree in accounting in addition to my neuroscience major (since I can't do much with a Bachelor's in neuroscience besides working in a lab or going to grad school). Talking about strengths, I've always been good at math, so I think building a business in the financial service industry is what I'm leaning towards. As an accountant, I can build an accounting firm helping people filing taxes while also helping clients with reducing taxes using permanent life insurance. What do yall think about building a business/agency in the life insurance industry? What do you think about an accounting firm? What do you think about combining both? What businesses can take advantage of my knack for mathematics and problem-solving?
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