How I started my Insurance Agency | How we grew to 4 Million in Less than 4 Years!

How I got started in the insurance industry with zero experience in management, business ownership, and insurance and have managed to grow to my book of business to past 4 Million in written premium in less than 4 years.

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Prior to insurance I was a banker for 7 years and student that took 7.5 years to get my bachelors degree in business management. During those years, I failed in multiple businesses and investing. After I got my degree, I knew I was being called to start a business, but just didn't know what. I was led to opening my own Allstate Insurance Agency with what remained of my 401k after draining it after quitting my career in banking.

I learned the game of business ownership quickly. I wore multiple hats in the beginning being the #1 salesperson, ceo, janitor, operations manager, agency marketing, in the beginning you do everything! We really took off once I started specializing and separating tasks between a sales and a service team. This is when we really scaled in the business of selling insurance.

After 2.5 years I managed to open a second insurance agency and had to hire twice the employees and a ton of reinvesting. With growth came a few challenges but we managed to move forward to recently where we have officially earned more than 4 million dollars in property/casualty/life and commercial insurance.

My 3 Major Keys in growing an insurance agency from scratch are these.
1. Agency Culture - Must have a fun, positive, competitive and accountable work environment. Staff must enjoy coming to work but must also have clear expectations of them.
2. Coaching/Caring Staff - Coach employees and Train them daily. Care about them personally and know what it is they are striving for and what goals they are trying to achieve. Knowing their goals and holding them accountable to THEIR goals are a major key to influencing and leading them.
3. Treat it like a Business - I've seen a lot of business owners earn profits and start buying stupid things. They didn't reinvest profits over and over again. If you're going to start a business, be sure to treat it like a business and not as a glorified job. Reinvest into your business and employees and watch the returns tenfold.

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Disclaimers: All opinions expressed by me are my own and for entertainment purposed ONLY. My statements and opinions are subject to change without notice. Nothing I share is financial advice. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with.

Видео How I started my Insurance Agency | How we grew to 4 Million in Less than 4 Years! канала Nicholas Sakha