Entreprener Paper

1413 Words May 4th, 2011 6 Pages
|Entrepreneurial Paper |
|Dameron-Jones Insurance Agency |
|Della McCrory – Owner/Agent |

|Rebecca Erin McCrory MGMT 485-02 |
|12/3/2009 |

An entrepreneur is a person who has possession of an enterprise, or venture, and assumes significant accountability for the inherent risks and the
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Della wanted the freedom of being her own boss. She knew that the monetary compensation would be much less than the non-monetary compensation she would receive but money was not what she was looking for. Being an entrepreneur gives a person the ability to be their own boss, but with that also comes the responsibilities of all aspects of the business. When asked about the pitfalls and challenges of owning this agency, Della said that the worries of the expenses are the greatest challenge. “No matter if I leave the office, the worry still rides on my shoulders of how to maintain this business in order to keep it afloat. You never leave the work at the office; you take it with you each and every day because it is your livelihood. No one else has to worry about the light bill, about the advertising expenses, or what each company’s retention numbers or loss-ratios are. It’s all your personal responsibility that you take as a trade off for being your own boss.”

The insurance industry has a very competitive market and each company has to find ways to distinguish itself from another. There are two types of agencies, independent and captive. An independent insurance agent is an agent that represents several insurance companies. The agent is independent from all the companies he or she

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