Finding your niche in the insurance market
Taking our future in our hands, being masters of our destiny and building a business based on passion, creativity and hard work is the American dream. It is everybody’s dream. But realizing that dream is risky. More and more people are trying their fortune as entrepreneurs, which means that more and more small and independent business owners need good insurance to protect their dreams, their future and their livelihood.
Some people risk everything when they start their own business. They know they need insurance to protect themselves while they struggle to grow and succeed, but money is tight, so you need to prove your worth. Entrepreneurs are (or should be) counting every penny and being extra careful with their spending. They can’t afford to make a mistake, so selling them the insurance they need comes down to you proving that you are the best in your field. That you are a thought leader and that you will work with them to make sure they get the right coverage for their needs.
It’s all about trust, so make sure you have a good network to backup your worth with new clients. Referrals are everything when you are trying to prove yourself to a skeptical, frugal, tight-fisted small business owner.
Small business owners and entrepreneurs are constantly on the go and working on their business. It is up to you to follow through on your promises. Keep checking in, help find solutions that will work with their estimated growth, as well as their budget.
Another major benefit of selling insurance to small businesses is that you generally get to work directly with the owner or the boss of the company. This won’t happen when you sell to big corporate conglomerates. This gives you a unique opportunity to become a part of that small business, instead of just an insurance broker. You can make yourself essential to the business as they grow. The bigger the company gets, the more investors and employees, the more they’ll need an expert in the field of small business insurance to make sure all parties are covered, from product, employees and shareholders.
So, there you have it, just another thing for new independent insurance agents to consider.