Page 40 - The UnCaptive Agent

YOU ARE THE FOUNDATION 13

by outsourcing almost everything that you need to do. I
recommend it as an inspiration and stimulator of your
thinking about how to build your business by turning
what would otherwise be a fixed cost, something that
you have to pay for all the time whether you use it or
not, into a variable expense. Variable expenses are one
of the most important tools in the founder’s checklist.
A great example of an outsourcing opportunity for
insurance agencies lies in insurance company service
centers. Service centers can perform almost all the
client service on the personal lines and small com-
mercial business you write in your agency and they
have become very popular. About one in four insurance
agencies makes regular use of insurance company service
centers, according to the 2018 Agency Universe Study
conducted by the Independent Agents and Brokers of
America (IIABA).
Accounting is another area that is easily outsourced
to either a local CPA firm, a bookkeeping service, or
one of the many online accounting services that now
specialize in doing accounting for insurance agencies
like EQP Accounting Services. Regardless of how you
choose to cover the weaknesses of your overall profile,
whether it’s with a partner, employees, or service pro-
viders, it’s important to be very clear on the things that
you do well and those that you don’t. And it’s critically
important to rapid success in the business to focus as
much of your time, energy, and attention on those things
you do well—while as little of your time on those things
you do not—in order to be successful.