An in law of mine owns and independent agency that has been around for 15 years. I got my p&c license back in March, and have been going in part time to learn as much as I can. I am making some progress, but the biggest frustration Im having is having my in law explain things to me in a way that makes sense. The problem is when I ask him about certain things like how do I go about building my own book of business, whats the difference between broker fees and commissions, as well as other little things that would make me feel a little more confident in pursuing this with him. When he does explain things, he trails off into a tangent or we get interrupted by other things going on. Another reason Im frustrated is because I dont understand how I get paid, I sold an umbrella package and an auto policy in the first couple days I was there, and didnt get paid for it because I didnt fill out some commission sheet. I dont know if this is standard practice or if its unusual, but it was little disheartening to not get anything for the results I produced. How do most independent agencies pay their producers? Im also working as 1099, so Im not getting paid hourly, I only get paid for what I bring in. Im mainly there to learn as much as possible right now, and I have some money saved so I can get through this lean period, but I feel like Im not learning as much as I should or can be. Its extremely frustrating and has been weighing down on me for a couple of months now, I feel less and less motivated to go in everyday.
Theres a little more to the story than I wish to go into at this time. All I will say is that I put up some of my own money and he said he is going to give me a piece of the company and I can build upon that, but Im having a very hard time understanding how things operate in his business.
On one hand, I feel like I have a great opportunity here, because I am working as a producer at an independent agency with the potential to build my own book from the start. On the other, I get a sense of dread that its not going to work out and Im gonna be SOL and several thousand dollars poorer by the time its over.
Ive been looking for a mentor figure to help me out, but cannot seem to find one. Any advice or ideas on what I should do?
Theres a little more to the story than I wish to go into at this time. All I will say is that I put up some of my own money and he said he is going to give me a piece of the company and I can build upon that, but Im having a very hard time understanding how things operate in his business.
On one hand, I feel like I have a great opportunity here, because I am working as a producer at an independent agency with the potential to build my own book from the start. On the other, I get a sense of dread that its not going to work out and Im gonna be SOL and several thousand dollars poorer by the time its over.
Ive been looking for a mentor figure to help me out, but cannot seem to find one. Any advice or ideas on what I should do?
