Hello Entrepreneurs!

[RiskController]

Nice to meet you all! I am an insurance agency owner in Los Angeles working with commercial business owners to help protect them from potentially large financial setbacks (aka insurance I’m in it for 2 top reasons. 1. Freedom with my time & 2. An asset I can build wealth with as a means for all of my other goals in life! I am working on my process to create an organization that will stand out in the industry in all the best ways possible. Going on my 3rd year in business I am feeling great about all of the relationships I have with my customers so far and inspired to do so much more to add value to the lives of everyone I work with.

 

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[Guyfieri5]

Welcome to the forum!

 

[Sega Saph]

Welcome to FLF. Can I ask you? What do you think about new economical crisis? Is it coming or not? And how it could influence on your kind of business? Thank YOU!

 

[RiskController]

Welcome to FLF. Can I ask you? What do you think about new economical crisis? Is it coming or not? And how it could influence on your kind of business? Thank YOU!

Hi SEGA SAPH! I literally started my business just right before this pandemic started and did/do my best not to pay attention to what seemed like doom and the end of freedom in the world.. There will always be an economic crisis for someone somewhere for many everywhere but I know that feeding into it perpetuates it. My industry serves every industry- it’s to help business owners become aware of how their choices could lead to their own individual economic crisis if they disregard the consequences of their actions/lack of action; risk factors.

 

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[capito]

Hi @RiskController,

... I literally started my business just right before this pandemic started and did/do my best not to pay attention to what seemed like doom and the end of freedom in the world.. There will always be an economic crisis for someone somewhere for many everywhere but I know that feeding into it perpetuates it.

That is a huge true!

My industry serves every industry- it’s to help business owners become aware of how their choices could lead to their own individual economic crisis if they disregard the consequences of their actions/lack of action; risk factors.

In your presentation you wrote about insurance. Do you offer a consulting service too? Maybe I'm misunderstanding this last paragraph (I am not a native English speaker)

 

[RiskController]

Hi @RiskController,

That is a huge true!

In your presentation you wrote about insurance. Do you offer a consulting service too? Maybe I'm misunderstanding this last paragraph (I am not a native English speaker)

I am insuring/consulting all day long. What are you trying to figure out? Are you thinking about starting a business or you already have one and just a couple of years in? Are you employing others - are you thinking of employing others? What’s your situation. Are you worried about your liabilty for professional services or a product you make?

 

[capito]

First of all, my question may seem silly to you, but I live in a small third world country and here the figure/profile of an insurer is infinitely different from a consultant. Also the range of insurance offered in the US. You have insurance for all kinds of things and situations, such as health. That does not exist here. I could list many differences, but I think it is enough to know that the main line of an insurer is the automobile (mandatory by law), and ultimately a few families can cover home or life insurance. There is no more than that. An insurer is an agent representing an international insurance firm, or one of the 2 firms of the country. Their income comes from a commission for each client that enters the system, and their work does not go beyond explaining the contract policy, filling out forms, and going to the scene of the incident when it occurs.

A consultant involves a very fine job. It's getting involved in your client's business. He is hired to find vulnerabilities, what is wrong, offer solutions, solve problems,..., or directly create a project. It is not done overnight.

Correct me if I'm wrong, you offer a consultancy to different businesses which is based only on RISKS that, certainly, have already been studied that can happen to any business owner in any industry. Then you sell them your insurance. It is a different perspective than what is in my country, but it fits more with one of my business ideas.

Second, I don't have an established business. I am playing with 2 or 3 very related business ideas. They are needs that I know, and that come from the financial sector in which I worked for more than 10 years. I prefer B2B, and scalable units ("risk insurance" can be).
Pros and cons of the market, the product/service to offer, and my own abilities/limitations/experience have me trying and discarding.

Thanks for your questions

 

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[RiskController]

First of all, my question may seem silly to you, but I live in a small third world country and here the figure/profile of an insurer is infinitely different from a consultant. Also the range of insurance offered in the US. You have insurance for all kinds of things and situations, such as health. That does not exist here. I could list many differences, but I think it is enough to know that the main line of an insurer is the automobile (mandatory by law), and ultimately a few families can cover home or life insurance. There is no more than that. An insurer is an agent representing an international insurance firm, or one of the 2 firms of the country. Their income comes from a commission for each client that enters the system, and their work does not go beyond explaining the contract policy, filling out forms, and going to the scene of the incident when it occurs.

A consultant involves a very fine job. It's getting involved in your client's business. He is hired to find vulnerabilities, what is wrong, offer solutions, solve problems,..., or directly create a project. It is not done overnight.

Correct me if I'm wrong, you offer a consultancy to different businesses which is based only on RISKS that, certainly, have already been studied that can happen to any business owner in any industry. Then you sell them your insurance. It is a different perspective than what is in my country, but it fits more with one of my business ideas.

Second, I don't have an established business. I am playing with 2 or 3 very related business ideas. They are needs that I know, and that come from the financial sector in which I worked for more than 10 years. I prefer B2B, and scalable units ("risk insurance" can be).
Pros and cons of the market, the product/service to offer, and my own abilities/limitations/experience have me trying and discarding.

Thanks for your questions

 

[RiskController]

First of all, my question may seem silly to you, but I live in a small third world country and here the figure/profile of an insurer is infinitely different from a consultant. Also the range of insurance offered in the US. You have insurance for all kinds of things and situations, such as health. That does not exist here. I could list many differences, but I think it is enough to know that the main line of an insurer is the automobile (mandatory by law), and ultimately a few families can cover home or life insurance. There is no more than that. An insurer is an agent representing an international insurance firm, or one of the 2 firms of the country. Their income comes from a commission for each client that enters the system, and their work does not go beyond explaining the contract policy, filling out forms, and going to the scene of the incident when it occurs.

A consultant involves a very fine job. It's getting involved in your client's business. He is hired to find vulnerabilities, what is wrong, offer solutions, solve problems,..., or directly create a project. It is not done overnight.

Correct me if I'm wrong, you offer a consultancy to different businesses which is based only on RISKS that, certainly, have already been studied that can happen to any business owner in any industry. Then you sell them your insurance. It is a different perspective than what is in my country, but it fits more with one of my business ideas.

Second, I don't have an established business. I am playing with 2 or 3 very related business ideas. They are needs that I know, and that come from the financial sector in which I worked for more than 10 years. I prefer B2B, and scalable units ("risk insurance" can be).
Pros and cons of the market, the product/service to offer, and my own abilities/limitations/experience have me trying and discarding.

Thanks for your questions

Hi Capito,
Your question was not silly. I like your perception about the “insurance agent” vs “consultant”. I agree that many agents are just selling a product/policy and that’s where the service stops. But I personally believe that selling insurance to a business is immediately intertwined w/ helping to consult that business on what they need coverage for/what their exposures or gaps are in helping to prevent a major financial loss. And really it all comes down to the values of the business owner themselves. There are those who really don’t care about being consulted and just want a piece of paper because they are either required by statute, or a 3rd party in order to contract with the 3rd party. Those business owners usually only realize that proper coverage is the very key to their survival once they experience a loss. But in a larger sense, I like to think every professional in any industry who strives to improve whatever industry they are in can be a consultant if they educate themselves gain experience and understand what makes that industry better. I hope you can go after one really great business venture at first, make it a successful money tree!

 

[capito]

Hi Capito,
Your question was not silly. I like your perception about the “insurance agent” vs “consultant”. I agree that many agents are just selling a product/policy and that’s where the service stops. But I personally believe that selling insurance to a business is immediately intertwined w/ helping to consult that business on what they need coverage for/what their exposures or gaps are in helping to prevent a major financial loss. And really it all comes down to the values of the business owner themselves. There are those who really don’t care about being consulted and just want a piece of paper because they are either required by statute, or a 3rd party in order to contract with the 3rd party. Those business owners usually only realize that proper coverage is the very key to their survival once they experience a loss. But in a larger sense, I like to think every professional in any industry who strives to improve whatever industry they are in can be a consultant if they educate themselves gain experience and understand what makes that industry better.

Well said, a sensible approach

I hope you can go after one really great business venture at first, make it a successful money tree!

Sounds like music to my ears. But I know there is a journey, the process, with its ups and downs, and it is also enjoyable.
Thanks for your time and the best for you too

 

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