When John Wetmore was 20 years old, the trajectory of his life was to stay a father of two, working overtime on the third shift in a warehouse to provide for his family and aspiring that one day he could be promoted to working the first shift. Today, however, John is a multimillionaire managing partner at one of the largest life insurance agencies in the U.S. who had built up and sold his own business and is now dedicated to mentoring others in the industry to achieve the same level of success.
People will often dismiss stories like John’s as ‘one of the lucky ones’, but John had to face personal and professional challenges time and again that would have been reason enough for anyone to settle for ‘getting by’. Instead, John’s story is one of persistence and an unwavering commitment to achieving his dreams.
“Growing up in the projects outside of Boston, I faced financial difficulties and limited opportunities, but I knew I wanted more for my family and myself. I wanted to make a big impact that would change lives, which led me to the insurance industry,” John shares.
While working that third shift in the warehouse full-time, John pursued an Associate’s Degree in Accounting and a Bachelor’s Degree in Finance, but the new corporate opportunities that became available to him still felt unfulfilling and initially amounted to less income than the shift work. John had then found the insurance industry, but knew that learning the sales curve could be daunting – especially with a commissions-only pay structure and a family of now five to take care of – so he stepped into the industry by working part-time alongside his accounting position.
Wetmore reflects on the opportunity that insurance sales had offered him, saying, “In the insurance industry, you don’t get a fixed salary or benefits. It’s all about selling policies, and whenever a premium is paid, I get my commission. It’s like reaping the rewards for every sale I make, and that’s when I realized the immense potential of this world.”
Three months after John had become a full-time insurance agent and in the first month with a newly formed firm, his commission check was a mere $800. Facing doubt and frustration, John approached his mentors who convinced him to remain committed and imparted their own crucial advice on how to build success. By the end of that year, John had made his first $100,000. A few years later, John had earned an astonishing $460,000 in one year and the income has simply continued to grow ever since.
What really began to set John apart in the industry and income generation was his passion for mentoring other agents and firms. John began attracting more agents to join his team by providing them with the strategies and techniques he had learned along his journey and as they each became successful and began recruiting agents themselves, John had built a robust network that generated more streams of income and allowed his focus to shift to leadership and supporting the growth and success of these agents. As a managing partner, John has been able to mentor over 2,000 agents.
“Mentorship is a game-changer in the insurance industry. I can guide and support other agents, and in return I get a percentage of their commission and total sales, which grows in value as they become more successful. It’s a win-win situation and an incredible feeling to watch new agents progress,” exclaims John.
John’s journey from the Boston projects into insurance sales led to him achieving his dreams: buying his dream home for his family, acquiring his dream car, and living in dream experiences like flying in private jets to speak at conferences among the industry’s most influential figures like Patrick Bet David and Hubert Humphreys. But most importantly, John can be proud that it was his own persistence that created an entirely new life trajectory and now he is enabling the same for a countless number of other agents.
To conclude his own story, John states that, “Luck may have introduced me to insurance, but for myself and anyone else that wants to build a better future for themselves, all it really takes is hard work, dedication, and a willingness to help others achieve their goals.”
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