This is Part 6, the finale of our Backbone interview with Joe of Guardian Insurance Solutions in Hilliard, Ohio — the hardest part, the most rewarding part, and his advice for anyone thinking about starting.
The hardest part
Honisto: Now that you’ve been in business for some years, what’s the hardest thing about running this business?
Joe: I think the hardest, at this point, for me specifically, is managing the team of agents and the policies that they’re writing. We pride ourselves on integrity, good coverage, good business. We’re very much not the type that we’re just trying to get the sale. We want the client to not only be happy with what they have, but we want it to be an affordable price, and we want it to be a good fit for the carrier. Because we take all of these things into consideration, I’m more picky, if you will, as far as who’s getting what coverages. Compliance is a big thing for me. These carrier appointments and our E&O exposure, all of this falls on me and the ownership team of the agency. Making sure that our team is up to date on restrictions or guidelines, making sure that they’re not just taking every piece of business and throwing it somewhere to gain a sale. We want it to make sense. I don’t have to be as hands-on anymore as I did when we first brought them on. We’ve actually had our team now for over a year, and it’s real nice that these guys are trained and doing what they’re doing.
But I can very much see how quickly having an agent that lacks integrity — really focused on just the next paycheck or the next dollar — could impact the agency as a whole, and they don’t necessarily know it. Tip for the owners: know who you’re interviewing and know who you’re bringing on, because integrity’s huge in this space.
The most rewarding part
Honisto: What’s the most rewarding part?
Joe: Flexibility. Flexibility all day long. The money’s great. It grows. It’s a residual base, so as long as you’re on a slow, increasing trajectory and you’re not losing a lot on the back end, you’ll grow, and the income will be decent. It will be significant if you put more time into it. But I’m too spoiled right now in the flexibility. I have four young kids at home, and I really enjoy my time with them, and I enjoy not having to pick up my phone from 8:00 a.m. to 6:00 p.m. If it wasn’t for the staff we were able to hire, it could be a different story. A very different story. But the flexibility is so nice to have in this industry.
His advice for anyone starting out
Honisto: What advice would you give someone thinking about starting a business like yours?
Joe: I would say whatever you think it is, it’s going to be different. Whatever time you feel like you need to commit, you’re going to do a little bit more. Your cost, you might be able to get it calculated — but other than that, it’s going to be a lot more work than you assume. Get extroverted a lot more than you feel like you are. If you’re an introvert trying to start this, it’s going to be insanely tough. You’ve got to be ready to send texts, send DMs. I was never really a phone call dude or a cold call type, so I do want to give hope to some of you who feel like cold calling has to be done. It doesn’t. You just have to not be afraid to go after referral partners. The contact list in your phone is a beautiful place to start. I spent my first two years literally telling people, “Hey, hope you’ve been well. It’s been a while since we talked. This is what I do, this is the business I have. I would love to be a resource, or if I could actually help look for savings or better value somewhere, let me know.” I never did any pressure sales. I don’t even do pressure sales anymore, because at the end of the day, I’m providing something, and it’s up to the client if they want to take it or not.
Expect to be way more extroverted than you really feel like you are. If you’re already extroverted, you’re going to have a lot of fun in this business, because the coffees are great, the dinners are great, the beer nights are great. The networking events are very fun to be invited to. Lock in referral partners the best you can — they will be very key in your growth. I spent a lot of time in my first few years relationship building with loan officers and realtors. If you’re not part of a gym or a sports team, I encourage doing those, because it keeps you not only active but facing people. Same with your local church — one you’re a part of, or thinking about joining. These are all good watering holes that can provide a lot of benefit for your business.
It’s so cool to walk into my gym now and, at any time, there’s three or four insurance clients there. I can go into my church, and whatever service I go into, I’m like, “All right, I’ve got a couple insurance clients in here.” You just have faith, let it build, let it spread, do a good job for every person you talk to, and you’ll find you’ll get referrals from people you never won over — but they knew and respected what you did, what you said, how you interacted with them or a family member. It quickly turns into leads coming in from everywhere, and you just have to nurture it and respect every opportunity you get. I’ve had months where little opportunity came, and months where I’m trying to find the time to sit and relax because I’m so busy. The ebbs and flows of this business will for sure come. And just have fun. Have a lot of fun.
About the business: Guardian Insurance Solutions is an independent insurance agency in Hilliard, Ohio, serving personal and commercial clients across the Columbus area. Reach them at guardianinsuranceohio.com, 4694 Cemetery Rd #406, Hilliard, OH 43026, or 614-451-7100.
Related: Part 1 · Part 2 · Part 3 · Part 4 · Part 5 · Backbone Spotlight · The Backbone Series
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