Today we get to talk with Randy Dick, president and CEO of Kaw Valley Insurance. He runs the company alongside his wife, Karen, who serves as the COO of the company. While starting and running your own business takes a lot of self-discipline, creative thinking, and flexibility, Randy has proven to be successful.
We ask Randy what it was like the first week owning a business as well as what he wishes he had known back then. Especially in the beginning, it can feel like you are alone on an island as a new business owner. Over time, you can grow your network and your staff to feel less isolated.
Coronavirus has had a major impact on all businesses across the country. Unfortunately, many small businesses have had to close permanently as a result. Randy doesn’t know everything that is coming up being healthcare insurance, but so far, the core business has remained the same. Instead of prospecting new clients, they have focused on maintaining relationships with their current clients.
Randy shares how he has found new prospects in the past, much of which has come down to face-to-face meetings. But in light of coronavirus, we’ve all had to evolve and adapt, which means incorporating more video meetings or finding ways to meet the needs of clients however it works best. Then, with both prospective clients and current clients, make sure to provide quality resources and services.
As a small business owner, you have to juggle a lot from growing as an individual, growing the business, and doing the day-to-day tasks. Randy talks about being intentional as a family business to each focus on their own part in order to relinquish total control of everything. It’s important to be aware of everything happening within the organization while also delegating tasks so you aren’t doing it all alone. This has helped allow him to have the work/life balance he desires while simultaneously growing his business.
A few of the things we’ll get into from the business side on the show:
- Being adaptable as a business owner
- Providing resources and quality information to clients
- Finding new prospects
- Growing in knowledge and skills to stay current
- Relinquishing control
- Establishing work/life balance
Listen to the full episode with the player above or click on the timestamps below to hear more about Randy’s story.
[2:07] – Who is Randy Dick?
[3:22] – What originally lead Randy to the insurance industry?
[4:25] – Why do people think starting your own business often ends in failure?
[6:24] – What was the first week in business like?
[7:23] – What does Randy wish he had known when he first started?
[9:16] – Randy shares what Kaw Valley Insurance provides.
[11:55] – A lot of places have permanently closed following the impact of coronavirus.
[15:18] – Making services understandable and palatable to clients.
[18:35] – How did Randy find new prospects?
[21:15] – How do you grow in your knowledge and skills?
[23:59] – How do you find more time to work on your business instead of in your business?
[26:36] – What kind of processes have been put in place?
[29:08] – How to create a work/life balance.
[32:03] – What’s the best compliment Randy has received from a client?