Are you looking for a reliable partner to help your business grow? State Farm can be that partner! Our team of professionals understands the unique needs and concerns of businesses, which is why we offer an easy-to-use Business Proposal Form. This form allows us to quickly evaluate your business and develop a customized insurance package tailored specifically to meet your business's needs. We provide proactive advice, timely customer service, and innovative offerings that empower you with the tools you need to achieve success in today's competitive marketplace. Through our efficient and secure online process, we provide peace of mind so you can confidently focus on what matters most: growing your business.
|Form Name||State Farm Business Proposal Form|
|Form Length||3 pages|
|Avg. time to fill out||45 sec|
|Other names||business proposal filled sample, farm proposal business state, state farm bpp sample, state farm insurance business proposal|
Business Proposal (Presentation)
he Business Proposal is an important part of the interview process. he Business Proposal helps State Farm evaluate your understanding of the agency opportunity and what it takes to succeed. You will hear much more around this component of the process at the Career Understanding seminar but can use the following information to begin planning and preparing your Business Proposal. Research is vital in building a strong Business Proposal.
We recommend you begin by researching the local market area where you are pursuing an agency opportunity. his is for your beneit and does not need to be included in full, in your proposal. However, you may choose to include select facts and igures if they support speciic sections of your proposal. You will want to clearly outline how this market research afects the Agency. Relevant data may include some of the following:
Population growth rates
Total households and number insured
Local business environment
Any other relevant data
Preparing to become an entrepreneur and running your own agency will take commitment and focus.
•How do you want to be perceived by your customers?
•How do you want your staf to treat your customers?
•What should your oice facility look like to your customers?
•What will distinguish the level of service you provide to your customers?
•How should your oice systems and procedures function?
•How will you continually build the State Farm Brand?
•Evaluate Internal/External Market Opportunities.
•What customer segments or needs present opportunities?
•Competitive Review – Who are the toughest competitors? Why?
•Do you provide better value than competitors? Which ones? Why? How?
•How accessible are you to customers?
•Are you stafed adequately? Are you considering adding staf?
•Is your oice environment customer friendly?
•What skills and competencies do you and your staf possess?
•What skills and competencies need further development?
•Who do you consider role models to help you improve your agency?
•What knowledge does your staf need to do a better job?
•What marketplace trends will you address in your plan?
•How will you maximize the return on your marketing investment?
•What customer segments will you pursue for which products?
•Do you have plans to improve the marketing atmosphere of your oice?
•What is your staing goal? Will the identiied opportunities require a change in your staing?
•Do you have systems to ensure proper customer service, claim handing, and marketing?
•What skills/abilities of yours and your staf need to be developed to meet your goals?
•What are your personal inancial goals?
•What drives your happiness?
•How to accomplish a work / life balance.
•What speciic steps will be necessary to achieve each goal?
•What marketing tools will you use?
•When will you execute these activities?
•How will you ensure that you or your team members have mastered new skills?
•How do you plan to continue to sharpen your skills?
•Determine where your business is coming from.
•Determine where you stand in reference to your goals.
•Document how you will review and evaluate your business plan.
•How much income would a
•In their lifetime with your agency?
•What percent of that lifetime value will you spend to acquire / retain that policyholder today?
•Estimate the ixed and variable costs in running your agency to determine the amount to be invested.
Your Business Proposal should address the following in
•Your strategy for meeting customer needs in the local market you are pursuing •Your plan for investing in your agency
•Your assumptions about what factors shape the sales production and proitability of an agent
Organize your written proposal into three main sections:
•Local Market Context
–Discuss the demographics and growth opportunities in the prospective Agency location.
–How will this market research afect the Agency?
–What speciic customer needs have you identiied?
•Building an Agency
•How much capital do you anticipate having accessible in the irst 6 to 24 months?
•How will investing in your Agency impact your other inancial commitments?
•How do you plan to structure, hire, and develop your team to capitalize on the local market?
•What skill sets and experiences will you look for in team members?
•How will you compensate them?
–Sales & Marketing Strategy
•How do you plan to tailor your sales and marketing strategies to meet the needs of the market?
•Provide some speciic examples of sales and marketing tactics that you would employ.
•Create an operating budget for your irst ive years as an agent.
•Sales Production and Compensation
–Production and compensation estimates for the irst ive years of your agency
Available resources to consider:
•Career Understanding materials (you will receive)
•Your Agency Career Track Specialist (ACT Specialist)
•Market Agency Field Executives (MAFEs)
•State Farm agents in/around your area of interest
•Public resources (see online list at the end of this document)
Your Business Proposal will be due prior to your scheduled interview date. Speciic dates will be communicated during the Career Understanding seminar or through your ACT Specialist.
Online Business Resources:
We have listed below some resources that may assist you as you develop your business proposal.
www.score.org – Counselors to America’s Small Business
www.sba.gov – U.S. Small Business Administration
www.census.gov – U.S. Census Bureau
www.cch.com – Business Owners Information Toolkit
www.odod.state.oh.us/edd/1ststop – Business
www.startupjournal.com – Wall Street Journal Center for Entrepreneurs
www.mycorporation.com – Incorporation Information
www.allbusiness.com – All Around Business Advice
www.inc.com – Inc. Magazine Business Information
www.tannedfeet.com – he Entrepreneurs’ Help Page
http://www.nase.org/ – National Association for the
http://www.nfwbo.org/index.asp – Center for Women’s Business Research
http://www.nawbo.org/ – National Association of Women Business Owners
http://www.sba.gov/onlinewbc/ – Oice of Women’s Business Ownership
This is proprietary information owned by State Farm®, and it may be lawfully used only as authorized by appropriate Agency management. This form should be destroyed by Agency Recruiting upon receipt of the information needed to conduct the Candidate Review. This form should not be retained in the Agency Candidate File.