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How To Create Your Own Business Plan

By  Senior Market Advisors  on August 28, 2017

How To Create Your Own Business Plan

As an insurance sales agent, regardless of whether you work with a field marketing organization or not, you are a business. Every good business needs a business plan. How can you make a traditional business plan work for your insurance sales business?

Check out this example of a “Medical Services Management” business plan for help. For your business, your plan should look something like this:

Executive Summary

This introductory section of your plan should outline your mission statement, your WHY, and your big-picture goals. Why are you selling insurance? Why is your method best? What are you achieving by going out and selling every day (other than a profit)?

Company Description

Following your summary, include a brief description of where you’ve been, where you are, and where you plan to go. Do you have experience in other sectors? Include that here. Even if you’re a one-man business, it’s a good way to remind yourself of who you are and what you can accomplish.

Market & Competitive Analysis

How many other agents are selling the same products as you? How big and threatening is your competition? This is the section where you want to list out what gives you a competitive edge against other agents. It’s also where you’ll want to provide market demographics for you to reference frequently. Where are the people you need to sell to, and are there other agents in their area who may get there first? What are the chances of you reaching your target market before your competition does?

Strategy Breakdown

This is where you can lay out your strategy – your plan of attack. Now that you’ve noted all of your strengths, recognized your weaknesses, and reminded yourself of your competition, what are you going to do about it? How will you get ahead of your competition? Make those notes here.

Organization & Management

Now that you have your strategy, how are you going to stay focused on your goals and get it done? Will you join a field marketing organization like Senior Market Advisors to help you track your leads? Create an elaborate calendar system for your appointments? Hire help?


You know where your leads are, but you have to know how to reel them in. Write down your plan for advertising, digital marketing, etc. Make note of what areas you’ll hit and how you’ll hit them.

Service/Product Line

Write down the insurance products you have available – don’t forget ancillary!

Funding & Finance

How will you afford to pay for your marketing efforts before you close a sale? How will you balance your budget and stay on track? Create a financial tracking system for yourself and be sure to track every business expense you happen upon.


The part we’ve all been waiting for – weekly, monthly, and yearly projections. If you stay on track and do everything you planned, how much will you earn in a week? A month? A year? What kinds of losses will you suffer, and how long will it take you to accomplish your wins? This will help you plan both for your personal and business finances and help you see what sort of progress you can make as long as you stick to your goals and work hard.

If you still need help putting together your business plan, try out one of’s most highly regarded business plan templates.