Starting your own insurance agency is a huge undertaking that can seem almost overwhelming at times. It’s easy to get lost in concerns like what office space you should rent, how to apply for startup loans, and who you can hire; however, these actually aren’t the most important details. Before you start on the path to running your own agency, it’s important to make sure that you have what it takes for this career jump.
What Does it Take to Be an Agency Owner?
Obviously, owning your own agency requires being able to sell insurance, but that’s far from the only skill you need to possess. When you own an agency you’re not just in charge of selling insurance. You also have to worry about marketing, payroll, operations, client relations, management, and IT. When you branch out on your own, you become a small business entrepreneur, so it’s important that you can keep up with all the demands.
Look Inside Yourself
Starting a small business is going to be tough work. Do you have what it takes? If you’re unsure, consider looking inside yourself to see if you have any of these qualities:
-An Understanding of Business and Marketing Basics
-Good Time Management
-Attention to Details
-Willingness to Learn
-Passion About the Business
Owning your own agency is about branching out to new areas of work that aren’t even related to insurance.
There is Help
Thankfully, with advances in technology, it’s now easier than ever to run your own insurance agency. With the help of management software, you can see your workload cut tremendously. These software programs help you complete tasks such as managing applications, tracking prospects, binding policies, and servicing clients. When you choose to use this automation software, you will see your “to-do” list dwindle right along with the piles of paperwork on your desk, giving you more time to focus on getting your agency off the ground and running.
Starting your own insurance agency won’t always be a piece of cake. Like everything else, there will be good days and bad; however, if you are truly passionate and have the right skills, you will succeed.