This is easy. Best move I ever made was to marry my wife. Her Dad owned the agency I now own.
After that, my best move has been staying close to my customers and employees and not hiding in an office or on a golf course.
I spent many years working for other people in the captive and independent agency world. My best business move was when I decided it was time to open my own shop. I haven’t looked back.
My best business move was breaking the chains of Purgatory in the Captive Agency channel and being an Independent Agent. Without question or hesitation.
funny, the guy whose wife’s father owned the Agency…I personally am thinking of moving my book into a larger well established agency that has a support staff that I can’t afford on my own and to hopefully unlock myself from working 14hr days, 6 days a week just managing what I have with no time/energy to increase business. Having said this I’m still very hesitant to give up on what I have establsihed the past 14yrs and don’t know if I’m making the right move or simply giving up? Any suggestions?
I started as a NYC broker on my own, and decided I didn’t want to commute from Northern NJ for the rest of my life. Started my agency in NJ, and since have merged several times, and happy not to have to fight the traffic every day.
The best move was merging my book with a larger agency that really had the same client-centric culture I espoused. This allowed me to focus on developing my niche and work with wonderful people. No regrets at all.
I’m glad you asked about going independent. The key is carrier contacts. I’ll assume that you work in an independent agency now. You need to treat every single marketing rep with respect and make them your best friends. They are the gatekeepers to appointments. Tell them that in 90 or 120 days you plan on going independent and make sure your present employer knows what your doing and respects your wishes…if he/she doesn’t, it’s a little harder.
Go find an office suite that lets you use their expensive equipment like fax and copier. Buy a cheap laptop and laser printer. From there, get as many appointments as you’re comfortable representing (remember that too many at first will result in not enough policies to go around). I don’t know what state you’re in but in Florida you need 2 good standard auto carriers, 1 or 2 good high risk auto carriers, 4 or 5 good home carriers, and a good brokerage house for your commercial accounts. Outside of Florida you may want to look into a system like SmartChoice which will get you carrier appointments in exchange for a piece of the pie.
Have been independent since Day 1, 20 years ago, after spending years climbing the corporate ladder. No regrets, best thing I ever did. As an agency owner now, best move I did was to hire a staff and move into an office.
This is easy. Best move I ever made was to marry my wife. Her Dad owned the agency I now own.
After that, my best move has been staying close to my customers and employees and not hiding in an office or on a golf course.
I spent many years working for other people in the captive and independent agency world. My best business move was when I decided it was time to open my own shop. I haven’t looked back.
Mr. Solvent,
Congratulations. Any general advice you can share for those thinking of opening their own shop? Thanks in advance.
My best business move was breaking the chains of Purgatory in the Captive Agency channel and being an Independent Agent. Without question or hesitation.
Guess which company is the absoulute worst to be a captive agent for?
I don’t have to guess. I was there! LOL
funny, the guy whose wife’s father owned the Agency…I personally am thinking of moving my book into a larger well established agency that has a support staff that I can’t afford on my own and to hopefully unlock myself from working 14hr days, 6 days a week just managing what I have with no time/energy to increase business. Having said this I’m still very hesitant to give up on what I have establsihed the past 14yrs and don’t know if I’m making the right move or simply giving up? Any suggestions?
I started as a NYC broker on my own, and decided I didn’t want to commute from Northern NJ for the rest of my life. Started my agency in NJ, and since have merged several times, and happy not to have to fight the traffic every day.
The best move was merging my book with a larger agency that really had the same client-centric culture I espoused. This allowed me to focus on developing my niche and work with wonderful people. No regrets at all.
Andrew, how long where you on your own before you merged?
Ryan,
I’m glad you asked about going independent. The key is carrier contacts. I’ll assume that you work in an independent agency now. You need to treat every single marketing rep with respect and make them your best friends. They are the gatekeepers to appointments. Tell them that in 90 or 120 days you plan on going independent and make sure your present employer knows what your doing and respects your wishes…if he/she doesn’t, it’s a little harder.
Go find an office suite that lets you use their expensive equipment like fax and copier. Buy a cheap laptop and laser printer. From there, get as many appointments as you’re comfortable representing (remember that too many at first will result in not enough policies to go around). I don’t know what state you’re in but in Florida you need 2 good standard auto carriers, 1 or 2 good high risk auto carriers, 4 or 5 good home carriers, and a good brokerage house for your commercial accounts. Outside of Florida you may want to look into a system like SmartChoice which will get you carrier appointments in exchange for a piece of the pie.
Have been independent since Day 1, 20 years ago, after spending years climbing the corporate ladder. No regrets, best thing I ever did. As an agency owner now, best move I did was to hire a staff and move into an office.
Farmers or Allstate?