Thinking about starting an insurance agency? Many independent agencies struggle to stay afloat—and some fail entirely. In this episode of Build Your Legacy: Insurance Edition, we explore the key reasons why insurance agencies fail and what you can do to avoid common pitfalls.
What You’ll Learn in This Episode:
- Financial Preparedness – Cash flow is critical. Learn why agencies fail when they don’t plan for slow months.
- Self-Awareness – Selling insurance is different from running an agency. Are you truly ready to make the leap?
- Sales First – The biggest mistake agency owners make is focusing too much on operations instead of selling.
- Hiring Pitfalls – Why hiring too soon, overpaying producers, and mismanaging compensation can drain your agency’s resources.
- Chasing the Wrong Business – Taking on the wrong clients or policies can lead to wasted time, financial struggles, and missed opportunities.
If you’re launching an agency or looking to strengthen your business, this episode is essential. Understanding why insurance agencies fail can help you build a scalable, sustainable, and profitable agency.
Watch the Full Episode:
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This episode is available on YouTube, Apple Podcasts, Amazon Music, Spotify, and more.
Learn More:
Visit SIA of NC to explore opportunities for independent agencies.
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