February 2010
Working From Home?
You’re Not Alone and Your Future Looks Good.
5 Tips to Stay On Track when You’re Working
from Home
With the Internet, sales automation tools and the changing habits of today’s consumers, more agents and entrepreneurs are now holding off from getting a standard office. Just last month, the U.S. Census Bureau reported a 25% increase in the number of people working exclusively from home.
Similarly, California-based Emergent Research released a study last year which found that the majority of new businesses today are now being launched at home. But the biggest surprise is how well home-based entrepreneurs and agents are doing.
According to Emergent Research’s study, The Rise of the Homepreneur, one-third of home-based businesses saw annual revenues of more than $125,000. More than 8% of home-based business owners made over $500,000. By comparison, less than 0.04% of all Americans approached that income level.
As many insurance agents have already discovered, they don’t need an office staff and marketing team to succeed — when they have the right sales automation tools and resources:
- Email and fax. Save time and money by eliminating the need to prepare proposal packages, brochures and postcards. Just email or fax it in seconds.
- Interactive websites. Dynamic websites with built-in e-applications and quoting engines allow online shoppers to compare your available plans and submit completed apps — while you’re asleep.
- Lead management system. An effective lead management system, like BrokerOffice, helps you stay connected with all your prospects and even backs up all their lead data.
- Lead nurturing system. There’s no need to hire a marketing team when you have an autoresponder sending a steady stream of marketing messages to each prospect in your database.
However, the right tools and sales leads won’t be enough to ensure your success as a home-based agent. Working from home has its own peculiar challenges.
Here are five helpful tips to help you thrive as a “homeprenuer” from others who also work from home.
1. Minimize distractions.
Home-based agents are surrounded by multiple distractions. There are also no supervisors or superiors to remind you to focus on your work. On top of that, if you have a family, you’ll have to worry about them they’re home from school.
The best solution that many home-based agents have found is to set aside an office where they can concentrate on work — with no televisions. Close the door during work hours and remove any video games or distractions that you normally wouldn’t have in a regular office.
2. Build strong family support.
If you make your home your office, you need to help your family understand your business. Explain to them why you want to work from home and ask for their support. Teach them when and how to approach you when you are working. And try to set aside specific times when they know you need to concentrate on closing deals.
In the office, you work with other agents and brokers. At home, your family members may not be co-workers in the strict sense. But they are your teammates.
3. See opportunities beyond problems.
What sets aside entrepreneurs from employees is the entrepreneur’s capability to seize opportunities amidst problems. They always tend to look at the big picture and look for possible ways to innovate their products, services and sales.
Working at home enables you to choose your own target market and customize your services for them to maximize your profits. But you need to set aside time to find those opportunities. You should also sign up for informative newsletters and blogs, especially from industry and thought leaders who are in touch with what’s going on in the market — and what’s coming.
4. Have a vision and work on it.
Every agent may have a vision of his or her preferred outcome. However, not everyone takes steps to make that vision a reality. Start by putting your vision on paper and try to map out a step-by-step process on how you plan to achieve your goals. It may not happen exactly the way you planned it. (It never does.) But having a vision and a roadmap will help point you in the right direction — and keep you there.
5. Interact with other home-based insurance agents.
For some, it’s a matter of sanity. For others, it’s to build a network for continued learning and professional development. Whatever the reason, you need to get out and interact with other agents. Start by joining an agent organization, such as your local AHU (Association of Health Underwriters). And when you have an opportunity to attend an educational conference, workshop or seminar, it will be worth the effort.
You may also want to find mentors who can share some of their knowledge on how to make your home business and family life successful at the same time. In addition, there are many online communities and forums consisting of agents who are working from home just like you.
Working from home can yield tremendous rewards and benefits. You get to be your own boss, and you can be well-compensated doing something you enjoy.
But you need to make sure that you stay connected with resources, communities and tools that will help your home-based business grow — and keep growing.
