Technology may have blurred the lines between work and home but it’s also made it possible to work remotely and create more work/life balance. CoverNote talks to Jane Cook about what prompted her to sell her broking business and do just that.
What were the triggers that made you decide to sell your broking business?
I went out on my own in 2001. I hired two staff and the second one didn’t work out so I had to manage her out – that was difficult. I knew I had to hire more people if I wanted to grow my business but I just kept putting it off because I didn’t want to hire the wrong person again.
I spoke to a few different brokers about joining forces and merging but nothing really seemed to be the right fit, or if it did they weren’t ready so nothing came of it. Then in 2016 I moved to Ohope to be closer to my father as he was ill. It changed my entire focus.
When my father died I lost some of my passion. I knew something had to change, but didn’t know how to change it. Then I got a phone call from a friend I’d known for years calling to say he was moving to Rothbury Insurance Brokers. I told him I wanted a change and was thinking of selling my business but wasn’t sure what to do. We said goodbye and then a few months later he called again to say he remembered our conversation and would I like to talk to Paul Munton from Rothbury Insurance Brokers about an acquisition. I said yes and we set up a meeting.
How did you find the process?
In the back of my mind I wanted an easy option. I met with Paul and compared to other meetings I’d had about selling my business this sounded really easy and just felt right. I remember thinking to myself - if I can get the terms I want, I’ll do this. In the end the process was seamless. At the time I remember thinking, this is a well-oiled machine. Everything just fell into place!
How did you handle the change?
I had got to the point where I didn’t want the stress of running my own business anymore but I still wanted to manage my own clients and have autonomy.
Sure I had some doubts. Was this going to go as well as I hoped? Was I doing the right thing? But the doubts I had were soon dispelled at further meetings with the Rothbury team. The transition was smooth.
What have been the pros and cons?
I have more time to spend with my family and I can still take time off whenever I want. Moving to the beach has been great and I’m still able to service my Auckland clients. The difference is I no longer feel tied to my business and too afraid to take a holiday. Now I can go away and relax knowing my clients are being taken care of and if they call the phone will be answered!
Having a dedicated claims person is one of the best things about joining Rothbury. I never realised before how much time I spent on my clients’ claims. It’s so important and it’s really how people judge your business. Having a dedicated person to look after my clients claims is a major benefit.
The only con I can think of is not earning quite as much money as I did before. But really my work/life balance outweighs all of that in the end. The other day I took a Wellness day (we get three Wellness days a year) to take my son to the orthodontist.
How is life for you now?
If I didn’t have the option of joining Rothbury, I may still have been plodding along – not happily. So that has been the best thing of all – that I’ve actually done it.
