Why Do New Independent Insurance Agents Fail?
3 Reasons Behind Failed Attempts to Become an Independent Insurance Agency Owner
Starting your own business can be intimidating. You might be part of the insurance industry already but flying solo is a whole different ball game, and it takes courage.
The success rate of new independent insurance agency owners is not always the best. Many times, people give up way too soon and fail in their attempt to start their own business. Why do you think that is? Here are some of the reasons why many independent insurance agency owners don’t make it:
Discouragement Takes Over
When you start a business, you’re full of hope, and if expectations are not filled quick enough, it is easy to allow discouragement to blindside you and ruin your motivation to keep on going. That brings doubt, and many questions start fluttering in your mind: Was this a mistake? Am I even cut out for this? Before you know it, you’re calling it quits.
Delayed Financial Benefit
It takes time to build a profitable business. At first, you may struggle, but perseverance and consistency are key. Depending on the circumstances, it may not be viable for some people to run a business that is not giving them the financial benefit they need as quickly as they need it. Particularly, if this new business is their only source of income. Having someone you can rely on for financial stability or maybe savings that can pull you through those first few months can make a difference.
A Little Too Much Freedom
Being your own boss is great, but it comes with even greater responsibilities. For that freedom to continue to be a blessing, taking ownership of your responsibilities is essential. Otherwise, your freedom can become a curse. Being focused and getting things done is a must for self-employment to be successful, from both a personal and a professional point of view.
Starting an independent insurance agency from scratch can also make things more complicated for you. That’s why at Affordable American Insurance, we provide you with a turnkey business model that sets you up for a successful career as an independent insurance agency owner. Make things happen today and join AAI.