Want to start my own agency
Posted: Tue Aug 07, 2007 11:17 am
Hello all.
I have been in the business about 5 years now. I am with a small independent agency. I do mostly P&C but do have L&H license and do write some of that business as well. I can write group benefits business but that hasn't been my specialty and I'm not all that interested in pursuing it it. I would like to focus on the P&C side, with emphasis on personal lines. I believe I can be very succesful writing home, auto/motorcycle/boat, flood, individual health and life. If necessary I can branch out and take in some of the small business opportunities.
As the message header states, I'd like to start my own agency. My degres is in management and so I can easily handle those functions. I believe I'm a pretty good salesman so I do think as long as I do what I've been doing to this point I will make it. I have an idea of what is needed but I know I have much to learn. Lots of questions but I'd like to start by asking the forum members who are agency owners what they recommend. For example, did you start from scratch with your own money and build it up bit by bit, or take a business loan? Is there is a checklist out there that one can reference? Did you hire help right away or handle most of it by yourselves? At what point do you recommend hiring someone? Is it wise to bring on 1099's to help garner business?
I truly appreciate any time and information you can share. Thank you.
Steve M.
I have been in the business about 5 years now. I am with a small independent agency. I do mostly P&C but do have L&H license and do write some of that business as well. I can write group benefits business but that hasn't been my specialty and I'm not all that interested in pursuing it it. I would like to focus on the P&C side, with emphasis on personal lines. I believe I can be very succesful writing home, auto/motorcycle/boat, flood, individual health and life. If necessary I can branch out and take in some of the small business opportunities.
As the message header states, I'd like to start my own agency. My degres is in management and so I can easily handle those functions. I believe I'm a pretty good salesman so I do think as long as I do what I've been doing to this point I will make it. I have an idea of what is needed but I know I have much to learn. Lots of questions but I'd like to start by asking the forum members who are agency owners what they recommend. For example, did you start from scratch with your own money and build it up bit by bit, or take a business loan? Is there is a checklist out there that one can reference? Did you hire help right away or handle most of it by yourselves? At what point do you recommend hiring someone? Is it wise to bring on 1099's to help garner business?
I truly appreciate any time and information you can share. Thank you.
Steve M.