Taking Risk When Starting & Building an Agency

In Episode 178 of the Scratch Agency Podcast, Stephen Turnbull and Shawn Fitzgerald sit down for another shop-talk conversation about something every scratch insurance agency owner eventually has to face: taking the next risk. Starting an independent agency is already a massive leap. You may take out a loan, drain your savings, leave a stable job, or start completely from zero. But something interesting can happen once the agency begins generating consistent revenue—you finally have something to lose, and taking the next risk can suddenly feel much harder. Stephen and Shawn discuss why agency owners can become more risk-averse as their businesses become stable and why continued growth often requires getting uncomfortable again. That next risk might mean hiring a producer, increasing lead spend, adding service staff, acquiring a book of business, bringing on another carrier, or investing more heavily into something that's already working. Stephen also shares a simple framework that has shaped how he makes major business decisions: write down the worst-case scenario, best-case scenario, and what will probably happen. If you can live with all three outcomes, the opportunity may be worth pursuing. The bigger lesson isn't that every agency owner needs to take the same risks. Your goals, stage of business, and definition of growth will be different. What matters is knowing your vision, understanding your risk, and making decisions that move you toward your own North Star. 🔍 If you've built some stability in your scratch agency but feel yourself hesitating on the next big decision, this episode will challenge you to evaluate what's actually holding you back—and whether the next stage of growth requires taking another calculated risk. 🕒 Timestamps: 00:00 – Welcome to the Scratch Agency Podcast 00:39 – The Emotional Roller Coaster of Entrepreneurship 04:04 – The Risk of Starting From Scratch 05:03 – Why Growth Requires Another Risk 05:43 – When Everything Is Working, Why Change It? 07:32 – You Finally Have Something to Lose 08:55 – Worst Case, Best Case & Most Likely Case 10:34 – Should You Hire Another Producer? 11:29 – Risk Goes Beyond Hiring 12:19 – Bigger Goals Require Bigger Moves 12:45 – Know Your Vision & Your North Star 14:03 – Could You Take More Risk? 14:18 – Community, YouTube & Closing Thoughts 💼 Sponsored by HawkSoft https://www.hawksoft.com A family-owned and operated agency management system serving independent agencies with teams from one to 300+ employees. In this episode, Stephen also shares his experience attending a HawkSoft regional meetup and highlights the company's approach to listening to agency feedback and helping users get more from the platform. 🔗 Links & Resources: 📘 Join the Scratch Agency Podcast Community on Facebook to connect with other Scratch agency owners, share questions, and suggest topics for future episodes. 📸 Follow us on Instagram:   / thescratchagencypodcast   🎧 Listen on Spotify: https://open.spotify.com/show/7hutxCZ... 🌐 Visit Our Website: https://scratchagencypodcast.com Thank you for tuning into another episode of the Scratch Agency Podcast. 👍 Like the show. 📤 Share it with another scratch insurance agency owner. 🔔 Subscribe to the YouTube channel so you don't miss the weekly episodes, updates, and shorts. Most importantly, remember to dig down deep, believe in yourself, and own your own future.