When You Sell Out, What Next?
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In today’s episode of Agency Intelligence, host Jason Cass talks with guest Josh Fyhrie, CIC, CPRM, CPRIA, CISR, Founding Partner at Colorado Insurance Advisors, an independent, full-service insurance agency specializing in commercial and personal insurance policies in Fort Collins, Colorado. Josh talks about how he got involved in the insurance industry, how he has developed and expanded his business, his long-term goals, and factors that cause the industry to have a bad image.
- Is Josh Fyhrie an iPhone user or an Android user?
- What is the last app that he has downloaded?
- Does Josh love to win or hate to lose?
- Does Josh attribute his success to luck or skill?
- Josh Fyhrie talks about how he grew up and started his career.
- Josh has 12 employees at the moment. And talks about compatibility.
- Where does Josh see himself in the next 10-20 years?
- Josh and Jason discuss sales and growing your agency.
- What does financial freedom look like?
- The insurance industry tends to have a negative image.
- What does it take to hit your number in the industry?
3 Key Points:
- Partnership compatibility is key. Find someone who fills in the gaps that your skillset lacks.
- What is your number before you transition out of owning your agency to potentially selling it?
- Competition in insurance tends to be low because of the poor perception of the industry.
- “We’re at $10 million in premium right now. So, when you get to a bigger size, growth is a little harder to do and the stagnation kind of starts setting in. And I hate being stagnate.” – Josh Fyhrie
- “As an agency owner, I probably spend about 30% of my time producing and 70% of my time doing everything else that I need to do.” – Josh Fyhrie
- “Let’s build this thing with the plan in mind of one day selling and what does that look like?” – Josh Fyhrie