According to the most recent IIABA Agency Universe study, the number of start-up insurance agencies is growing–11 percent of respondents to the 2008 study were founded in 2004 or more recently. The study states, "As one would expect, the new agencies tend to be small, grow fast and be headed by younger principals." Are you an agent who has decided to take the plunge into independent ownership? If so, there are six things you need to do when you open your insurance agency to ensure its long-term success.

1. Get properly licensed

Seems elementary, doesn't it? Producing business without the correct license will get your agency shut down and your license suspended. Plus, if you have an acrimonious relationship with your previous employer or partner, they could simply lodge a complaint with the DOI over the Web site and you could have a "cease and desist" order from the department. Your competition would love you to overlook this requirement; don't give them a way to beat you that you can easily control.