This week on The EnTRUEpreneurship Podcast, Wes chats with Danielle Roberts, Co-Founder of Boomer Benefits — a family-owned insurance agency, specializing in Medicare-related products. Danielle and her team are also educators, coming alongside those in need of Medicare products to help translate convoluted healthcare law into plain English. Boomer Benefits boasts hundreds of longstanding policy-holders, just hired its 50th employee, and is set to generate close to $10M in revenue in 2019.
Within the insurance industry, the sky’s the limit in terms of cash flow, but multi-million dollar success doesn’t come overnight. Instant gratification is a myth and, as Danielle discovered in the early days of her business, comparing yourself to those around you results in hopelessness and discouragement. On the podcast, Roberts shares her story of putting in the long hours to finally achieve 8-digit revenue and gives some solid advice around running your own race, achieving your own success, and not letting others sabotage your journey.
The EnTRUEpreneurship Takeaway:
“Run your own race… Put your blinders on and don’t compare yourself to other people… Don’t compare your beginning to someone else’s middle or end."
“I always loved the pursuit of building something from nothing, and then being able to turn a profit on it."
“I bootstrapped everything in my business. I spent very little money getting my business off the ground. I did everything old school — the hard way. It’s the hardest, but it’s also the cheapest. Because you’re your own cheapest source of labor."
“A great way to get your business off the ground if you don’t have a big cash investment up front is to join an association with other people. Get to know the people in your industry that are already successful and see what you can learn from them."
“I always think to myself, ‘What’s the one thing that you can do to move the needle just a little bit tomorrow? What can I do today that’s going to put me in a better position next week?’"
“You can’t be afraid to fail because you’re certainly going to fail at stuff."
Bullet Points (w/ timestamps) - Highlighting key topics discussed:
3:01: Danielle highlights her earliest entrepreneurial efforts, including building a business at age four, selling earthworms to fishermen.
5:35: Danielle reflects on her disillusion with corporate America and the moment when she decided to pursue selling insurance as a career.
11:39: Roberts explains how she negotiated with her corporate job to scale down to part-time hours, in order to have steady income when getting her business off the ground.
16:12: Danielle discusses the easy and difficult aspects to moving into the insurance industry and gives some practical advice around getting plugged into a new industry quickly.
22:32: Roberts describes the importance of having a healthy self-talk and a solid mentor, especially in the early days of entrepreneurship.
26:39: Danielle shares how a failed partnership early in her career pushed her into the Medicare space, which is the focus of her current company.
30:50: Danielle discusses the importance of content marketing for her company and how they utilized these strategies before content marketing was even on the scene.
33:40: Roberts reflects on a strategic hire early in her business that helped her ease off the acceleration a little bit.
38:10: Danielle shares about her company’s office expansion, which is happening in the new year.
41:44: Danielle gives some sage advice around “running your own race” and not getting distracted by comparison.
Bullet List of Resources –