So You Want To Start an Insurance Agency
Starting an Insurance Agency is Easy! hahaha...
Guest Contributor – Cindy Herrmann, Mogul Marketing
No matter what kind of business you’re thinking of starting, before you get serious, you need to do market research. Talk to other people in the business to learn from their experience, and talk to potential clients to learn what they like and dislike about other agencies. Some people will talk to you, and some won’t. That’s ok; keep trying. You’ll be amazed what you will learn. This will help you understand if starting an agency is really for you.
Some questions to ask competitors:
- I’m thinking of specializing in commercial insurance (or whichever line you choose). Do you think there is enough business in the region to support another agency?
- How much staff did you have when you started? What would you recommend if you were starting over?
- How did you go about getting appoints from quality carriers?
- How does location effect your business?
- How do you prospect locally for business?
- What marketing / advertising activities have worked for you, and what’s a waste of time?
- What length of time is reasonable before I can pay myself a salary?
Some questions for potential clients:
- What do you like/dislike about your current agent(s)?
- What has been your experience when dealing with a claim?
- What would be your “Perfect World” vision of Insurance buying?
When you talk to people, be quiet, listen carefully, and take notes. This is important information you’re getting. The less you talk, the more you will learn.
To learn more about market research, listen to Cindy’s podcasts
——> http://www.mogulmarketing.com/podcast.htm] <——
You can also get a hold of Cindy at:
Phone: (518) 794-7483 Email: cindy@mogulmarketing.comPlease subscribe below for the RyanHanley.com Weekly Post Roundup!
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No matter what kind of business you’re thinking of starting, before you get serious, you need to do market research….
So You Want To Start an Insurance Agency…
No matter what kind of business you’re thinking of starting, before you get serious, you need to do market research….