Are you thinking of starting a new business (hopefully with Momentum)? To help you out we’ve pulled together a top tips cheat sheet full of all the information you need to make that leap.
Where do I start?
Despite what many people think, writing a business plan is the most fun any new or aspiring owner can have in their lifetime. This is your moment to shine, bringing to life all your thoughts and ideas that have been churning around in your head for the past few months.
A robust business plan is key to success and will help you flourish in your area of expertise.
Did you know that Momentum can help you take your idea and turn it into a reality? We’ll help you to initially identify your target market and acquire the clients that you want. As a broking partner, you’ll receive an unrivalled level of support, enabling you to compete with brokers on a national level, whatever your size.
There is no right or wrong way to write a business plan and it really isn’t as daunting as you might think it will be. We’ve got a fantastic team at Momentum who would be more than happy to help If you are unsure of anything!
Choose the right regulatory partner
Remember to do your research into which company you would like to partner with. We can’t speak for others but we can vouch that Momentum is great!
Ask those difficult questions and do your diligence; challenge your regulatory partner on their performance, plans and their commitment to you and your business. You want to choose a company that works with you and your ideas, and not completely take over – at the end of the day, it’s your business.
Understand your market access requirements
Your ability to win and retain clients is heavily reliant on your ability to place the business. It’s important to work with a partner who has the resource to support you.
Momentum has market access with over 240 agencies and strong relationships with the largest insurers. We also have a large team of broking professionals that have the expertise to match your clients’ needs. What more could you want from a company!
Create online presence
Most insurance start-up businesses find that they have the capability to create a brilliant company but then draw a blank when it comes to shouting about it. You need to be visible so that clients, old and new, can find you and you create a constant stream of engaging content.
A small investment in a quality website, social media presence, and the use of reviews and testimonials will help your business stand out from the competition.
Momentum can take all the above off your hands and let you focus on the important things, like building a strong rapport with your clients. We have a highly skilled in-house marketing team who are on hand to create bespoke branding, a personalised website as well as content for your social channels.
Work hard. Play hard
Work/life balance is essential when it comes to maintaining your mental wellbeing. Starting a new business will bring with it a lot more uncertainty and there will be times when you will need to work longer hours, but you need to make time for you! Choosing the wrong regulatory partner may create unnecessary stress but finding the right one will mean you can focus on growing your business while interacting with clients.
If you don’t want to be chained to your desk all day waiting for insurers to call back or dealing with admin, Momentum has a dedicated team of account handlers who will look after your day-to-day requirements.
So, what are you waiting for?
It’s now time to dive headfirst into setting up your own business but if you feel like you’re sinking rather than swimming, drop Momentum a call or message – we’re on hand to discuss how you could potentially join our forward-thinking company.