Blog: "Do You Have to Have an Office?"

[DHK]

Dan Sullivan of The Strategic Coach explores the benefits of the "No-office solution" - although still advocates having a meeting room if you have people coming to see you.

How entrepreneurs hide from opportunity

 

[ktmorgan]

He also recommends Ritalin for adults as a way of "quieting your inner voice."

Who knows? Maybe he's right. He's done pretty well for himself with it.

Dan Sullivan of The Strategic Coach explores the benefits of the "No-office solution" - although still advocates having a meeting room if you have people coming to see you.

How entrepreneurs hide from opportunity

 

[PaulMiller]

For several years I thought that you needed an office to start a business. Somehow I had this subconscious idea that to start a business, you needed an office. A place to go to where the business “is”.

Later on, as my company grew to over 35 employees , I’ve set up offices for other reasons as well. One, to make sure that I knew everyone was productive (coming into work each day) and two, to facilitate communication within our team.

 

[DavidHill76]

I thought it was a requirement in our industry to have a physical location and not just a PO Box

 

[DHK]

If you're FINRA licensed, you need an address registered for your activities. That can be your home. I've seen it done before. Of course, each address has costs and compliance, so you'd have to run that by a B/D compliance dept.

RIAs, or more common IARs registered with RIAs, can be run out of a home.

Life insurance agents need a physical address for all correspondence, but you don't have to do your meetings in your home.

P&C agents need to have some kind of office presence though.

https://www.kitces.com/blog/the-emergence-of-the-location-independent-virtual-financial-advisor/

 

[VolAgent]

DHK, I would love to get your email sometime since you have messages disabled on here.

 

[Justin Bilyj]

If you're FINRA licensed, you need an address registered for your activities. That can be your home. I've seen it done before. Of course, each address has costs and compliance, so you'd have to run that by a B/D compliance dept.

RIAs, or more common IARs registered with RIAs, can be run out of a home.

Life insurance agents need a physical address for all correspondence, but you don't have to do your meetings in your home.

P&C agents need to have some kind of office presence though.

https://www.kitces.com/blog/the-emergence-of-the-location-independent-virtual-financial-advisor/

Not true, knew agents doing auto internet leads that were signing everyone up online and doing auto deposit, like a Med Supp, this was years ago, but I generally agree to having a thriving P&C book, you need a physical location where neighborhood people can drop off their payments (never liked that about P&C)...

 

[thomasm]

I generally agree to having a thriving P&C book, you need a physical location where neighborhood people can drop off their payments (never liked that about P&C)...

People still drop their payments off?

 

[DHK]

While I'm not in P&C, I'm certain that people do buy coverage in the office and secure that coverage with a payment. I would "guess" that people might make last-second payments and/or make payments to restore coverage as needed.

And I'm also certain that people also still go inside banks to deposit and cash checks.

 

[Justin Bilyj]

People still drop their payments off?

My family has a thriving P&C practice in a lower income neighborhood. People are constantly paying on their policy everyday. It's a shame they don't sell more final expense...