5 Ways to Scale Your Public Adjusting Business Into a Juggernaut
What’s up advocates!
Are you one of those advocates with your own public adjusting company?
If you are or you are thinking about starting one, then this post is for you.
In today’s blog post, I will share with you the crucial steps you need to take to scale your business up from a start-up to a juggernaut!
Here are the key takeaways, but believe me when I say that every word in this blog post is worth reading.
If you want to grow your business. You should:
- Create effective processes.
- Structure your business into tangible goals.
- Start with capital because god knows it can take a while before you get paid as a PA.
- Hire the right people and put them in the right seats.
- And train new employees.
Let’s get into the nitty-gritty of growing your public adjusting company now that you have the outline of what you will learn.
The 0.1 Step to Scale Your Public Adjusting Business
The first step you should implement is to think of your service business as a product.
Because that is what it is.
In the service industry, you don’t have a product. And if you do, it is usually more of another income stream than the bread and butter of your business.
However, if you treat your business like a product, if you can create a mindset that everything you do to make it better, you are improving your client experience, then you can grow.
Even with all the grind and hustle, it will be hard to grow your public adjusting company if you cannot present it as a product to your clients.
5 Crucial Ways to Grow Your Public Adjusting Firm
Let me teach you five crucial ways to scale your business up successfully.
I am implementing all five steps regularly, so believe me when I say Elite Resolutions grew because of this strategy.
Start With Capital
You need capital if you plan to start your business, especially if you want to start a public-adjusting company.
First, you will have a lot of overhead in any business.
There are numerous little and substantial expenses like software subscriptions, marketing material, office supplies, rent, and employee salaries.
Plus, if you have been a public adjuster for a while, you already know it can take some time to get paid. Your client might sign a claim, but it can take months, sometimes years to get your percentage.
So, the capital will keep your business afloat until you have a consistent revenue stream.
Prepare the Right Processes
Everything that you do over and over again is a business process.
The way you network, handle claims, and pay salaries are all processes that you should write down and optimize.
The more you grow and the more experience you have, the more you will learn. With the new knowledge, you can improve your processes.
Why is all this important?
Because when you hire a new public adjuster or a manager to lead a team, you want to hand them a single notebook or a piece of paper and say “this is how we do things”.
Everything should be clear from that one document.
Structure Your Business Goals
You want to structure your business into smaller and larger goals. Start with a ten-year and then a five-year objective.
Then move on to yearly, monthly, and weekly goals.
Have weekly meetings with your team to track how everything is going and if you are hitting your objectives.
Structuring your business will keep you on track with your goals.
It will also keep you from going off track and focusing on things that you might think are important but aren’t urgent.
Hire the Right People
Ok, this is a big one.
You need the right people because you can’t do everything alone.
And you can’t be an expert at everything.
You need experts to handle your estimates, marketing, administration, hiring, etc.
So you can go, and do what you are good at, be it handling claims or improving your public adjusting company.
You need an excellent hiring process to find the right people amidst the sea of applicants.
At both of my companies, Elite Resolutions, and Commercial Claims Advocate, I have an extensive hiring process.
First, I ask my applicants to send resumes and fill out two assessment forms. The assessment forms reveal their strengths and weaknesses, so I can place them in the most suitable position.
Then we have the interviews. I conduct two interviews with every applicant. One to get to know them and determine their capabilities. And the second one is to iron out the details.
Get your hiring process right.
Because a wrong person in a wrong position will be detrimental to their growth and your public adjusting firm!
Train Your Employees
Training is something you should constantly improve.
I mean, take a look at public adjusting. Insurance claims are a complicated process if you are new to them.
There are so many directions you could take and countless arguments you could make. Your new employee doesn’t necessarily know all of them or any of them!
The advice I can give you, and this is what we do at Elite Resolutions, is to create a course-style training program.
Have your new employees go through the course regardless if they are public adjusters or marketing hires.
Every employee at your public adjusting firm has to understand the claims process, at least at a basic level. But they should also understand internal operations in your firm, so be sure you educate them on both ends!
And That is How You Can Grow Your Business Successfully
There you have it advocates.
Five ways to grow your public adjusting business successfully. Let me repeat them here shortly. You should focus on:
- And training.
If you have all five of these down, there is no doubt you will succeed!
Want to know more about how to scale your business up?
Check our YouTube channel for more information!
It’s time to take full control of your claims. Of your business. Of your life.
A community can help you get there faster. It can offer support during these tough times. Inspiration. Guidance.
Together, we can get you to where you want to be.
What are you waiting for?