Before you take a leap of faith and transition from a captive agent to an independent agency owner, take a minute to consider your new role as the boss. Being the boss comes with many responsibilities you didn't have as a captive agent. This can be both freeing and intimidating.
5 Tips For Succeeding At Being Your Own Boss
As an independent insurance agency owner, you'll probably wear many hats, depending on how you decide to manage it, from hiring staff members to overseeing marketing efforts. You'll need some structure or basic guidelines for things to run smoothly. Here are five tips for succeeding as the boss —whether you're in insurance or any other industry.
Do What You Love
You know how the saying goes: "Do what you love, and you'll never work a day in your life."
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If you decide to start something of your own, make sure it's something you enjoy, something you love; otherwise, it won't be sustainable in the long term. If you're passionate about it, committing to it will be easy.
Be a Visionary
A business is not a one-time investment. Of course, it all starts with start-up capital, but once things are up and running, it is wise and worth it to put some money back into it if your goal is to grow. Investing in training and coaching for your staff and yourself, marketing and branding, freshening up your website will give you great results when thought through and planned properly. A visionary wisely prepares for the future.
Establish a Schedule and Stick to It
Many business owners associate being the boss and setting their own schedule with a leisurely lifestyle and a great way to achieve work-life balance. However, starting an agency is hard work, and you'll need to hit the ground running, and keep running, to succeed.
However, balance is key. You don't want to turn into your slave, but you should have enough time to get things done and get things moving. Working regular hours is what works best for your clients and, ultimately, what will work best for your business.
Respect Your Time Off
Don't overwork yourself. If you burn yourself out, you won't be productive. You wouldn't overwork your staff, so don't do that to yourself. Don't neglect taking time off, and when you do, respect it. If you hire a capable team, identify someone you can trust to serve as your backup when you're out.
Recognize Your Value
When you see yourself as a valuable resource to your own business, you will value your time and efforts to keep things going in the right direction. This is essential to your entrepreneurial journey. Value yourself.
Are you tired of the captive insurance world or struggling to get your agency off the ground and build a client base?
We Offer A Turnkey Business Model For Aspiring Independent Agency Owners
AAI offers independent agency owners a turnkey business model to start their agency. And we provide ongoing tools, training, and technology for our affiliated agency owners to grow bigger, faster, more efficiently.
Join AAI today and open your own independent insurance agency.