What difficulties do you think a typical new entrepreneur encounters when first starting as a insurance agent?

Question

What difficulties do you think a typical new entrepreneur encounters when first starting as a insurance agent?

Answer 1

Finding clients and selling insurance to them. This may seem like an obvious point but you would be surprised at how much time and effort goes into other things. The gathering of clients is what should be 90% of your efforts. Good luck.

Answer 2

clients and competition.  it's very difficult.  if you do not need income, try it.  commission is hard to live off of the first six months until you build your clientele.

Answer 3

If you've never managed your own business, being a new agency owner/agent can be tough.  If you have your own office, then you have to understand your overhead costs and make sure you have the cash flow or capital to handle those in the beginning stages.

Sales and marketing would be the next biggest challenge.  You always have to be marketing in order to get clients.  And you'll spend a lot on marketing before you find a decent client base.  

But don't try and reinvent the wheel...  Talk to other agents in your area, both seasoned and new agents.  If there is a SCORE in your area (www.score.org) or an Entrepreneur Center, talk to someone with an insurance background.  Take advantage of their cheap but useful classes relating to starting a new business.

Good luck!