Should I stay or should I go?
The Clash may have been singing about a relationship, but when it comes to your career, it can be just as heart-wrenching to make the decision whether you should stay or go, and when. For some, becoming an independent agent instead of a captive agent is a no brainer. For those who aren’t quite sure, take a minute to assess your current situation, weighing the pros and cons of being a captive vs. an independent agent.
Becoming an independent insurance agent in Colorado
Making any big change, whether it’s personal or professional, needs serious consideration. Going from captive to independent may seem like it’s not a big change, but there’s a lot more to it that being freed up to sell for multiple carriers. It’s more than just changing your title on your business card. You owe it to yourself, your friends, and your family to seriously weigh the consequences of starting over, and if you are mentally, physically, and economically prepared to quit your captive day job.
Before you quit your job, take a minute to assess your current situation. Figure out why you are frustrated with being a captive agent. Common reasons for wanting to become independent include:
- Higher commissions
- No quotas to meet, or selling products you don’t want to
- More personal customer attention and service
- Working with multiple carriers
Of course, some of the reasons for staying captive are:
- Bonuses sometimes outweigh lower commissions
- You’re not responsible for running a business
- You are not investing your own capital
- Job security
Finding a network of insurance agents in Colorado
If you want the chance to build your own agency, setting your own rules, and being able to better serve your clients by offering them policies from many providers, then being independent is right up your alley. Of course, you have to be prepared to take on the risks of being the boss. You are more than just an insurance agent; you are a business owner.
You also have to remember that starting your own agency comes with risks. You need time, capital, patience, and perseverance, and you need a patient and supportive family, to make it as an independent agency. Before you make a big change, make sure you understand the risks.
At AAI, we want to help people succeed as independent insurance agents and entrepreneurs. Give yourself a leg up, and start your business with us. Having access to a network of successful agents who have been where you are is invaluable, as well as the Business Development Group training that we provide for all of our members.
With us, you’re independent but not alone!