Being your own boss sounds good, doesn’t it? Starting your agency, answering to no one but yourself. The benefits of being the boss will many times outweigh the negatives, but before you take that step to starting your agency, make sure you ask yourself the right questions.
Your mission is clear; you have the finances and the backing of your friends and family. You love to sell, you love to lead, and you are great at delegating and motivating a team. You are the perfect candidate to leave the confinements of being a captive agent and take your future into your hands to start your agency. But, you forget a few things.
When people decide to become independent, they focus on all the “sexy” parts of being the boss. You’re top of the food chain. You set your hours. You decide how to deal with clients. You set the tone and the environment. You choose your employees. You’re the BOSS!
Questions to ask before starting your agency
Now, here comes the question every hopeful entrepreneur and independent agent forgets to ask: do I want to deal with accounting, vendors, taxes, marketing, etc.?
The downside of running your own business is often the “running the business” part. It’s easy to dream and fantasize. But, once you are the boss, you’ll often be stuck working the “boring” aspects of the business. You need to be on top of accounting, taxes, investors, client relations, planning, marketing, sales, social media, managing, marketing, hiring, and firing. Not to mention all the unforeseen circumstances that will force you to adapt and evolve, rethink and restructure your business.
Colorado network for independent agents
If you’re ready to take on the fun stuff as well as the boring stuff, then you are ready to become an independent agent. For an added leg up in the insurance industry, join AAI and get access to exclusive business training and development seminars, as well as a whole network of independent agents in Colorado.
Good luck, boss!