Stupid business mistakes that cost me a lot of time and money

Let’s rap about some dumb mistakes I’ve made with my money in the past.

  1. I named my business based on where I lived — this had the well-deserved side effect of people thinking I only did business locally when I was licensed to do business all over the U.S. and so I lost a lot of business.
  2. Not spending enough time building an email list and a world where I (and others) want to live.
  3. Trusting social media with my content, and relying on it to build my business (which resulted in me losing and wasting thousands upon thousands of dollars in advertising and, at one point, fighting with a social media company over paying for fake traffic they were sending me).
  4. Following established leaders in my industry, which caused me to make the same kinds of mistakes they made. 
  5. Living in New York for far too long, which almost put me completely out of business for reasons which were not (IMO) even related to my business.
  6. Trying to convince people who don’t want to buy life insurance to buy life insurance, and having to fight with people over things they didn’t really want to do.
  7. Trying to help people who don’t want help or can’t be helped. 
  8. Trying to fix situations that are permanently broken. 
  9. Not hiring a tax specialist when I needed it (and recommending a tax specialist that hurt my credibility even though I had nothing to do with the CPA’s problems). 
  10. Not buying whole life insurance sooner (I started in this business at 25, and I waited many years, doing retirement plan rollovers, retirement income planning, and small life insurance casework before buying my first life insurance policy and it cost me many thousands of dollars).

Anyway, i don’t know if that helps, hurts, or makes you laugh at how stoopid I am. 

But, either way, I hope you learned something (or were at least entertained). 

And on that last one, if you’re thinking about buying life insurance, but have been procrastinating, maybe my story is a cautionary tale. 

Waiting is expensive. 

And, it only gets more so as time goes on.

At the same time, I can’t promise you will even qualify for life insurance. Life insurers (especially these days) have decided discretion is the better part of valor. But, if you want to discuss your options, and whether or not this makes sense for you, then best sign up for my email list, get up to speed, and make a decision one way or another.

David Lewis, AKA The Rogue Agent, has been a life insurance agent since 2004, and has worked with some of the oldest and most respected mutual life insurance companies in the U.S. during that time. To learn more about him and his business, go here.