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How to Start an Insurance Agency Business | Free Book PDF Download

Starting a Insurance Agency

 

How to Start an Insurance Agency Business - Free Book


Are you considering starting an Insurance Agency Business? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate it. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful Internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a Insurance Agency firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of.
You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Insurance Agency Business' book:

How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.

A detailed manual that will walk you step by step through all the essential phases of starting your business

A complete business plan template. This fill-in-the-blanks template includes every section of your business plan, including Executive Summary, Objectives, SWOT Analysis, Marketing Analysis and Strategy, Operations Plan, Financial Projections and more (a similar template is sold elsewhere for $69.95).

All this and much much more.

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your book for free (PDF version)

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Here's a Sample 'Executive Summary' for a Insurance Agency Business plan:

COMPANY NAME is a family owned business that was born out of determination twelve years ago.  Today, the company still maintains the same energy, initiative, drive and determination.
COMPANY NAME continues to grow day by day and the company now services over 1,252 clients daily.  COMPANY NAME expects this number to grow as the company introduces more insurance companies as options for clients.
COMPANY NAME
[INSERT ADDRESS]

1.1 Objectives

1.  To increase clientele by 10% over the previous year.
2.  To implement advertising and efficient tracking of referrals.
3.  To implement a more concerted conservation plan.
4.  To open a new branch office in Tallahassee and Winter Haven in the state of Florida.

1.2 Mission

COMPANY NAME is best suited to offer the company's clients the personal service that lacks in today's business environment.  The company takes pride in obtaining the lowest price, however, being able to offer the best and most insurance coverage to the company's clients.  In addition, COMPANY NAME feels strongly about continuing to assist in educating the company's clients in the basics for understanding their insurance needs and what options clients have available.

1.3 Keys to Success

There are a few key factors that spell success or failure for professional insurance companies --most of which stem from the importance of reputation:
1.  The conservation of existing customers.
2.  Excellence in personalized service.
3.  The education of the company's present and future clients on their insurance needs.

COMPANY NAME is a family owned and operated company for the past thirteen years.  COMPANY NAME takes pride in what it has to offer by offering "A" carriers the company's clients.
COMPANY NAME is not locked into any exclusive contract with one company.  By being an independent entity, the company is allowed to shop around for the lowest and best price coverage for clients.  Having over 133 years of insurance experience in the office among the company's Agents, COMPANY NAME feels that it has the drive, the passion and what it takes to be the first choice for present and future client needs.
The company offers personal service and by employing three licensed agents and two customer service representatives.  COMPANY NAME's office has been located in both Winter Haven, Florida and St. Cloud, Florida for over thirteen years. 

2.1 Company Ownership

The company, COMPANY NAME, is an S Corporation registered owned by OWNER’S NAME.  OWNER’S NAME currently owns one hundred percent of the company.

2.2 Company History

Table: Past Performance

 

Past Performance

 

 

 

 

2007

2008

2009

Sales

$177,341

$125,111

$148,130

Gross Margin

($20,692)

$573

$3,404

Gross Margin %

-11.67%

0.46%

2.30%

Operating Expenses

$198,022

$94,540

$89,684

 

 

 

 

Balance Sheet

 

 

 

 

2007

2008

2009

 

 

 

 

Current Assets

 

 

 

Cash

$17,951

$257

$147

Other Current Assets

$15,300

$0

$0

Total Current Assets

$33,251

$257

$147

 

 

 

 

Long-term Assets

 

 

 

Long-term Assets

$12,899

$4,150

$68,082

Accumulated Depreciation

$42,188

$72,820

$17,830

Total Long-term Assets

($29,289)

($68,670)

$50,252

 

 

 

 

Total Assets

$3,962

($68,413)

$50,399

 

 

 

 

Current Liabilities

 

 

 

Accounts Payable

$0

$5,276

$3,352

Current Borrowing

$7,072

$5,276

$3,352

Other Current Liabilities (interest free)

$0

$0

$0

Total Current Liabilities

$7,072

$10,552

$6,704

 

 

 

 

Long-term Liabilities

$100,466

$68,024

$61,424

Total Liabilities

$107,538

$78,576

$68,128

 

 

 

 

Paid-in Capital

$0

$0

$0

Retained Earnings

($103,576)

($146,989)

($17,729)

Earnings

$0

$0

$0

Total Capital

($103,576)

($146,989)

($17,729)

 

 

 

 

Total Capital and Liabilities

$3,962

($68,413)

$50,399

 

 

 

 

Other Inputs

 

 

 

Payment Days

0

0

0


3.0 Services

COMPANY NAME provides insurance coverage that protects the company's clients from personal, commercial and medical loss, in addition to protection again client legal liabilities. 

 

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