Going from sales to management usually means a pay cut as well. Based on that and other's comments, why take a pay cut and give up control of your life? If you are happy and successful, I'd say the odds of you being more happy and successful in the new role are low. If you are not, maybe it's time for a change.
To stay independent or do I...
- Thread starter msinsagent
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Well, we don't know how big of a producer this indvidiual is. It sounds like they are a fairly big producer, and they know how to win in this business.
On the flip side, lots of captive branch managers make well into 175K-200K. However lots of men and women fail at running captive branches.
On the flip side, lots of captive branch managers make well into 175K-200K. However lots of men and women fail at running captive branches.
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If I may butt in...I too have been thinking about becoming an independant agent; I've worked as an agent producer for an agent & their well known company & it SUCKED being owned by them (the agent owner). I've been knowing that I want to do this ON MY OWN. Tried the Farmers Agent Training program & that sucked because of my district office not showing us the ropes. I am a wife, a mother of 3 growing & very active kids, and I want to come & go as I wish & work hard on my own time. PLUS, I can grow an agency that I can potentially hand down to my kids. All of this sounds good BUT I am not very good at getting started!! It's like I need a book on "How to". I have my P&C. I need to get re-licensed for my Life & Hlth. I do have bad credit. I had a bankruptcy 5 1/2 years ago & I just lost my house almost 1 year ago. We're trying to start over again but I need to get back on the horse. Having trouble finding who will allow me to broker their products. Looking into home, auto, etc, some life & health. If you're interested in advising, please note that I need details, THANKS!
It's going to be very tough to start out on your own with bad credit in the P&C business. You may be able to do life and health, but you're not going to get appointed with the best carriers or even a captive carrier with your credit history. That's just my opinion. Feel free to prove me wrong.
You can probably go L&H. In that case, you wouldn't "own an agency" so much as be an independent salesperson working out of your home, etc.
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Back to the original question. It seems you have been successful as an indy and as a recruiter. If you want, or like being a recruiter, do it for yourself.
License people under you as a GA. You keep your book, you get your overrides, you get to recruit. What am I missing?
License people under you as a GA. You keep your book, you get your overrides, you get to recruit. What am I missing?
If I may butt in here also and read between the lines. Most LAH agents start out with a large captive company, then go Independent and never look back (that is what I did and I love it!). Every now and then you will run into someone who started out captive, went Indy, but was not exactly cut out to be Indy or did not like being Indy for whatever reason.
Its sounds like that is what happened to this individual, nothing wrong with being captive or Indy. Some agents are better captive agents, and some are better Indy agents. It sounds like this individual knows how to produce, understands how to recruit and maintain agents.
So my advise if you wanna go for the branch manager position, and you are cut out of for that position, and if the money is right go for it. Apparently, you are experienced in this game, and you know how to sell and recruit! So worst case, it doesn't workout and you start selling again.
My advice, go for it! Best of luck!
Its sounds like that is what happened to this individual, nothing wrong with being captive or Indy. Some agents are better captive agents, and some are better Indy agents. It sounds like this individual knows how to produce, understands how to recruit and maintain agents.
So my advise if you wanna go for the branch manager position, and you are cut out of for that position, and if the money is right go for it. Apparently, you are experienced in this game, and you know how to sell and recruit! So worst case, it doesn't workout and you start selling again.
My advice, go for it! Best of luck!
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Over the years I've seen too many people come into this business because of "independence" and "flexibility".
They usually end up failing.
As a start-up agent (especially independent), it's going to be a long time before you are built up to the point that you can "come and go as you please", and have flexibility and independence!
It is such a difficult undertaking, it will take 150% of your attention and focus for three to five years - if you're willing to be successful.
Don't make the mistake of underestimating it.
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As long as you have at least 90 days of marketing money and living expenses saved up and a good idea how you are going to prospect and how to sell your leads it is definitely the best way.
Otherwise no. Most who try fail due to poor planning.
- 11,996
Plus one for what Newby said. I'd also add that if you aren't prepared financially and have a mentor you'd most likely make more money flipping burgers 10 hours/week at Wendy's.
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