Should I Stay or Should I go?

[InsuranceNerd]

Currently employed with an independent agency doing about 3.5 million in total direct written premium. I was supposed to be an account manager for a niche that the agency is dominating in the state. I have as yet received no x-dates from my boss and I'm about 6 months on the job. I've got around 10 years experience in the industry. I'm not sure what I'm supposed to do? Wait for the x-dates from my boss? Or go out and produce? Not much communication (I've asked constantly when I should expect to start calling on accounts but quickly get silenced). I'm currently making decent money/benefits (no job satisfaction) and commuting a little over an hour one way to work.

I have an opportunity to walk into a family's one-man-shop agency and take it over. The book is around 1.2 mil in DWP (65%CL/35%PL P&C) and I would take at least a $8,000 pay/benefit cut. I think that it would be an interesting challenge to build up the business. Commute time is 5 minutes and would gain around 2 hours of the day back for productivity.

So my fellow forum members, what would you do in this situation? Should I stay or should I go?

 

[InsuranceNerd]

I have an opportunity to walk into a family's one-man-shop agency and take it over.

That meant to say "I have an opportunity to walk into MY family's one-man-shop agency"

 

[Markthebroker]

You already know the answer.

I assume you are just asking for confirmation or permission.

 

[adjusterjack]

That meant to say "I have an opportunity to walk into MY family's one-man-shop agency"

Will you OWN it or will you be working for the benefit of a relative?

Relatives can screw you worse than strangers will.

 

[vipoffer]

Go for itttt!

 

[InsuranceNerd]

Will you OWN it or will you be working for the benefit of a relative?

Relatives can screw you worse than strangers will.

Yes its been discussed and I would own it.

 

[CLPLDrew]

I think it comes down to what you're really looking for.

-Money?
-Time?
-Shorter commute?

The fact that you posted here means you're not 100% about running that agency. Being a business owner definitely isn't for everyone and there's nothing wrong with that either.

My opinion: I truly believe running that agency allows more flexibility and opportunity. It could also blow up in your face if you don't know what you're doing. Just make sure it's in line with your ultimate goals.

 

[VolAgent]

If you have to ask, you already know the answer. Plus I don't see your current position going well. Although that is a bit scary as far as running an agency. You are 6 months in and it sounds like you are sitting on your hands. You've been given no direction and it doesn't sound like you went and found it yourself. Something to consider if you go on your own. Are you self-motivated, will you go and find the answer when you don't know or wait on someone to give it to you?

 

[BADTROUT]

Take the chance...

 

[richreeves]

It's a big step to run an agency but I think you already know what you want. It doesn't seem well anyways with your current. So, go take it! Good luck!