Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with JC Matthews, Co-Founder at Simply Insurance:
What does your company do?
Simply Insurance is an online digital insurance agency that focuses on consumer-facing insurance products and instant online insurance quotes. Our customers can complete all of their insurance shopping online without needing an agent. We focus on life insurance, pet insurance, dental plans, accidental death insurance and disability insurance. We also focus on insurance education for our consumers by writing very detailed blog posts about insurance, and we also write in-depth, unbiased reviews about the specific products that we offer so that our customers can make the most informed buying decision.
What is your role? What do you enjoy most about your role?
I am the Co-Founder, being a co-founder means that I carry many roles in the business. I manage all of our accounts with our insurance partners as well as write all of the content for our current blog. I also manage the customer service side of the business for any chats or calls that we receive. The most enjoyable part of being a Co-Founder is getting to create educational content and come up with new ways to educate society on insurance, which can sometimes be a boring topic.
What are the biggest challenges in your business right now?
Some of the most significant challenges that we face in our business today are education. We have to start out with teaching our customers more about insurance in general and it's importance to both their family and society as a whole. We are also faced with the lag of technology in the life insurance industry; it is slowly catching up which is a great thing; however, the number of consumer-facing life insurance products can be counted on one hand. Another challenge would be content creation, creating content and sharing it can be hard since most sizeable personal finance sites talk more about getting out of debt than insuring your family, helping people see insurance as part of personal finance will be key.
If you could go back in time, what business advice would you give to a younger version of yourself?
If I could go back in time, the advice I would give my younger self would be to write everything down, create lists and gather as much information on time management as possible. I already have a solid work ethic; however, if I had those skills I mentioned above earlier things would have been less chaotic, and things would have probably happened faster. I would have told myself to never give up on your goal, and that sometimes your plans will have to change for the survival of your business and the survival of your dreams.