Episode 210: The Biggest Leap with Tim Gaspar

Are you ready to take not just the big leap but the biggest one?

I am excited to sit down with author and entrepreneur, Tim Gaspar, founder of the Gaspar Insurance Services, Inc.  Listen in as we discuss the importance of passion and authenticity in entrepreneurship. Tim shares the key to his success and the importance of being intentional about the types of clients you attract and work with. We also delve into the importance of learning, infrastructure, and systems in growing a successful business. Tim also talks about his new book, which aims to provide a guide for building successful insurance agencies regardless of location or starting point.

Highlights:

• Anyone has the ability to build a successful agency regardless of location or background
• Invest in learning to improve skills and incorporate new ideas consistently for growth.
• Passion is vital for entrepreneurs as it keeps them going through challenges and setbacks and is necessary to overcome obstacles in business.
• Consistency and the drive to win are also key components to a successful business.
• Take time to listen to customers even if it won’t result in a sale. This shows true professionalism.
• Over-servicing small clients can result in under-servicing big clients who generate the majority of the agency’s revenue.
• Specializing in a particular field increases profitability, efficiency, and creates a competitive advantage. It also leads to better business valuation.
• Building an agency based on relationships is crucial for success and creates a flywheel effect, while relying solely on buying leads or SEO can turn a business into a commodity.
• To succeed as an entrepreneur, you need to find and retain A players who share your vision and work ethic.
• Being an authentic leader and valuing your team members is essential for their continued loyalty and success.
• Growing a business without scaling technology and infrastructure can be detrimental.

About our Guest:

In February 2008, Timothy Gaspar founded Gaspar Insurance Services, Inc. As of late 2021 Gaspar Insurance Services is one of the largest independent insurance firms in both Los Angeles City and the San Fernando Valley (as ranked by the LA and SFV business journals). The firm has multiple offices in California, Arizona and New Jersey. Additionally, in 2018, 2019 and 2020 Gaspar Insurance was ranked by Inc. magazine as of the fastest growing companies in America. In late 2021 Timothy sold Gaspar Insurance to Foundation Risk Partners (FRP) for close to $30,000,000. Timothy still runs the Gaspar Insurance Services offices as CEO under the ownership of FRP.

Committed to his community, Timothy has been involved with non profits in an around the Los Angeles area of many years. Current organizations and positions include;

• Discovery Cube Los Angeles, Board Member
• Metropolitan YMCA of Los Angeles, Board Member
• West Valley YMCA, Board Member
• Boys & Girls Club of the West Valley, Former Board Member
• California State University Northridge Nazarian School of Business. Board Member
• Timothy Gaspar Entrepreneurship Scholarship at California State University Northridge, Founder

https://gasparinsurance.com/

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

Mike Stromsoe
The Unstoppable Profit Producer
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