Evolve Insurance Partners Blog
Evolve Insurance Partners Blog
Closing my captive insurance agency was an extremely hard decision , but throughout the discernment process things started to become clear that this needed to happen. Don't get me wrong, my captive agency allowed me to have freedom and income for my family, but I was not satisfied or happy with where I was at.
Let's bring you back to 6 years ago when I made the decision to open my agency. I had been working three years for another agent, who is now one of my
best friends, when an opening became available in that market to open my own agency. It was not an ideal location or circumstance, but it was a great opportunity in and of itself. I would get to take over an existing agency, hire a team and have the opportunity to have a business. I was 25, a newlywed and had my whole life in front of me. I would learn how to run an insurance agency, lead a team, create systems and processes and many other things it takes to succeed. Fast forward 6 years later and a lot has changed. My wife and I have been happily married for 6 years and we have 3 beautiful children.
Although my agency provided for my family and gave me freedom, I felt stuck. Running a business is hard. Running a business when you live 65 miles away from it is even harder. My wife and I had decided after our first child that we were not going to move to where my business was at. I knew this would be challenging, but we would try to make it work. I am not the type of person to just sit back and watch how things turn out, especially in business. I enjoy being involved in the day to day operations. I try my best to be a high performer and surround myself with the same types of people on my team. The main reason for making this decision was that in order to take my agency to the next level, I would have to sacrifice a lot time with my family and that was not something I could do. I would need to be in my agency 5 days a week, leading, mentoring, hiring, motivating to get to the level I wanted to get to. All the things a good leader should do, but this would become increasingly harder with a growing family and business that’s 65 miles away. We all have to sacrifice in life. There is going to be a dying to self in order to become who God has called us to be. With sacrifice in business, you plan to get a reward on the other end. It comes down to asking yourself is that particular risk, effort and sacrifice worth the reward? Sometimes you have to know when it's the right time to make a move and pivot. You only fail in life when you give up, but you must be willing to pivot when necessary. Tenacity is great but you have to recognize when the return on investment just isn’t there. I could not ignore God’s calling to take a different path. It also makes things easier if you see another opportunity you can capitalize on.
What makes up a successful business? It has much less to do with the owner and much more to do with the employees inside. I had a fantastic team, that I will always owe so much to. They were the heart of my agency. Some of the hardest conversations I had to have were the one on ones with my team, telling them I was closing my agency and that I needed to help them find other opportunities. That was by far the hardest thing to give up. Not the money, not the freedom; I could get those things back, but feeling like I let my team down. I am a miserable person when I feel like I let someone down and that was a tough time for me. I am forever grateful for them and I know they will end up doing bigger things in life because of our time together.
My decision to close wasn't just because of my family. Being closer to my family was the main reason but this was a business decision. When I ran the numbers on where the business was at versus where I wanted it to be, I knew there had to be a better way. The conditions I was placed in did not set me up for long-term success. I could have made it work, but I wanted more and I am a firm believer that decisions, not conditions will determine many things in your life. My location, the market, rate competitiveness, and the limited offering of products in a coastal market would have taken me much longer than planned to get to the level I wanted to. Some of the most successful people I know are captive agents with the company I represented, but I needed to find another way to carve my path to success. So I had to make a decision. The answer to that was the independent insurance agency model. It would allow me to work for the customer and have access to 20+ companies, instead of one company. It would allow me to connect the customer with the best coverage at the most cost-effective prices. I would have complete ownership of the business. It would also allow me to open a business right in my backyard and get me in closer proximity to my family.
In February 2022, I will open Evolve Insurance Partners. We will be a full-service insurance agency dedicated to helping clients protect their properties, families, and assets. I will be creating a presence across the state of Louisiana with Evolve. Our goal is to expand into multiple locations across the state and eventually into other parts of the country. If you want to follow this journey, stay connected on Facebook-Evolve Insurance Partners and LinkedIn-Cameron Babin
Welcome to our new insurance agency blog!
This is our very first post. We're not quite sure what we're going to write about here, but the plan is to create helpful content for customers and prospective clients about information that is relevant to you.
We hope you'll come to view this as a top resource for keeping your family and your finances safe.
Here are a few of the topics we may be writing about: