New Agency
- Thread starter Aziz
- Start date
Cold call your but off and get in front of some new clients for p/c, it takes 4 dials to get to the Decision Maker. Gatekeepers are your friends and stay focused and don't get frustrated.
- 1,076
One of the regular posters on here has gone to the trouble of outling everything for newbies as this is a popular topic. Visit his link and come back with any other questions you might have.
http://www.agencyequity.com/starting-an-insurance-agency
My only advice is that starting and running a successful agency is like trying to eat an elephant... it is a huge process but all you can do is take one bite at a time. The most important decision is to ask yourself if you are truely in a position to take this on.
http://www.agencyequity.com/starting-an-insurance-agency
My only advice is that starting and running a successful agency is like trying to eat an elephant... it is a huge process but all you can do is take one bite at a time. The most important decision is to ask yourself if you are truely in a position to take this on.
G
Guest
Guest
Why get an office so quick? Work from home for a while, and throw all your money into marketing.
- Thread starter
- #5
- 561
One other thing. Any lead you come across that doesn't buy now, may in the future. Keep their info and market to them regularly. Build up your prospect list as you go so you always have leads to work. Good luck!
- 620
You got your E&O yet? Thats pretty important
- 156
G
Guest
Guest
Congrats man I've recently done the same. this is my 3rd week in business and I couldn't be happier. Here are a few things that I feel are working for me, although they may not actually be.
-get the office space. its definitely a mental thing, too many distractions at home. Its nice to be the boss but the boss has a job too, so treat yourself like an employee and be disciplined.
-sign as few contracts as possible. as you should know if you have a plan it WILL change and you obviously plan to grow. be as liquid as possible until you are established.
-im starting out targeting non-standard clients because they are cheaper to buy leads for, have higher premiums, most are not opposed to paying a broker fee, and they are easier to close.
-to build on the last point, appointments are hard to come by. currently i have 1 appointment and a broker i place business through if im not competitive enough. you can get cheap carriers, although their reviews may not be so positive. just look. in non-standard 95% of all clients care about is monthly rates. i found a carrier willing to work with me (1 year total license experience) and i only get beat out on the rates 1/6 quotes and im never too far off. i am able to place 85-90% of my business through my 1 carrier.
-its possible to start for under 5k without missing any necessities. try to keep costs low. it takes me about 2 deals to break even for 1 week of operational cost (rent, leads, and phone are my only upkeep). the rest is profit.
-excel is your best friend. learn to keep good books with accurate accounting. most people hate numbers but your a business owner you have to be able to track cashflow.
-and lastly JUST DO IT. dont let people tell you, you cant. if you are willing to work hard, and sometimes for free, you are 1/4 way there.
thats what i got for now again ive only been in business for 3 weeks so what ive got might not be accurate but its a learning process so get out there fail and get back up.
-get the office space. its definitely a mental thing, too many distractions at home. Its nice to be the boss but the boss has a job too, so treat yourself like an employee and be disciplined.
-sign as few contracts as possible. as you should know if you have a plan it WILL change and you obviously plan to grow. be as liquid as possible until you are established.
-im starting out targeting non-standard clients because they are cheaper to buy leads for, have higher premiums, most are not opposed to paying a broker fee, and they are easier to close.
-to build on the last point, appointments are hard to come by. currently i have 1 appointment and a broker i place business through if im not competitive enough. you can get cheap carriers, although their reviews may not be so positive. just look. in non-standard 95% of all clients care about is monthly rates. i found a carrier willing to work with me (1 year total license experience) and i only get beat out on the rates 1/6 quotes and im never too far off. i am able to place 85-90% of my business through my 1 carrier.
-its possible to start for under 5k without missing any necessities. try to keep costs low. it takes me about 2 deals to break even for 1 week of operational cost (rent, leads, and phone are my only upkeep). the rest is profit.
-excel is your best friend. learn to keep good books with accurate accounting. most people hate numbers but your a business owner you have to be able to track cashflow.
-and lastly JUST DO IT. dont let people tell you, you cant. if you are willing to work hard, and sometimes for free, you are 1/4 way there.
thats what i got for now again ive only been in business for 3 weeks so what ive got might not be accurate but its a learning process so get out there fail and get back up.
OhioIA
Expert
Love the enthusiasm! Good luck!
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