Behind the Business
Name: NOEL PRESTON
Job title: MANAGING PARTNER
Business name: PRESTON INSURANCE BROKERS
What does your business do?
Commercial insurance brokers.
We place insurance programmes to protect our clients who range
from an owner of a single rental property to a company employing
a few hundred people and everything in between. Last year we
were appointed as the insurance brokers for the British Airways
i360, which we believe added to our reputation, credibility and
ability.
Tell us how your business started?
I had been in the insurance industry for the best part of 20 years
and it was simply a random conversation on the golf course with
my now business partner. I owe a lot to him for having the faith and
confidence in my ability and ideas that starting Preston Insurance
Brokers would work – all has gone to plan to date!
How many staff do you have?
5
What makes your business different from your competitors?
One of our clients said we “…provide a personal service with a
corporate clout…”. Bringing the right and deserved level of service
to a diverse breadth of businesses is really where we deliver.
We like to think we go about our business professionally and with
humility, whilst also being personable and having some fun along
the way.
Insurance for some can be quite a dry subject and also a bottom
line cost with no direct return. We try and make it more interesting
and real for our clients and support them from the beginning
through the placing of the insurance right through to if and when
they need to claim.
The vast majority of our new clients come from the
recommendation of others. A large number of our clients we are
happy to call advocates and good friends, who without prompting
spread the word on our behalf, we count ourselves very lucky in
this respect.
What is your motto in business?
In summary I’d say; respect everyone, don’t take yourself too
seriously but take what you do for your clients deadly seriously –
your reputation is vital!
What three pieces of advice would you give someone looking
to start their own business?
Really want it, be true to your values and work hard to achieve it.
Enjoy it and be passionate about it.
Surround yourself with positive people.
What is the biggest challenge facing start-ups in 2017?
I would suggest finding the right partner or finance provider to
set up the business in the first place. Someone who understands
you and is willing to support your approach, whilst also providing
a positive influence. I am a great believer that if somebody really
wants to do something they will find a way. Technology and
efficiencies are to be embraced and are improving and evolving
every year but largely the success of a business start-up is the
people behind it and how hard they work for it.
Where do you see your business going in the next five or ten
years?
When we started the business we had a plan to grow steadily every
year and we have achieved that to date. Nearly 5 years in and there
are 5 of us. In 5 years’ time we would hope to have a team of 10
and a business that can profitably support them. The key thing is
to ensure we keep up the level of client service we have become
renowned for, after all it is what drives our close to 100% client
retention rate and has been integral to the growth of our business
generating prospective new clients.
What does the future hold for you personally?
I enjoy my work, in particular the people side of the business.
Whether it be those I work with, the clients I work for or other
business men and women whom I deal with, this is by far the
most enjoyable and fulfilling part of my job. I have built some
long lasting relationships with some top people and made great
friendships because of my work, as well as enjoying some amazing
experiences along the way which otherwise I would not of had the
chance. I turn 48 later this year and feel I still have a number of
years left in me and a lot more to give so the end is still a little way
away yet!
What do you do to relax?
I enjoy spending family time with my wife and two sons with their
interests and involvement in Cricket, Football and Army Cadets,
watching them develop. I also love music and play drums in a
band. For those reading this who know me, it would be amiss for
me not to mention my own fondness for cricket, football and golf
and of course good food & drink!
Who has been/is the most influential person in your life?
My Dad, who taught me the value of respect for others and the
benefits of hard work and sincerity. The support received from both
my Mum & Dad in my personal and work life has been massively
influential in what I have achieved to date.
What is the most important piece of advice you’ve received
and who was it from?
“Be yourself, everyone else is already taken!” I can’t remember
where I heard it but I think it was at a random seminar I attended.
It resonated with me as there are so many people out there either
trying to be someone or something that they are not or worse trying
to make others into someone or something that they are not. Being
sincere in both your personal and business life is so important, it is
quite often blatantly obvious when people aren’t!
What is the biggest challenge your business faces?
Balancing efficiencies and profitability without impacting on the
client experience. Our reputation for client service drives our
business and needs to be at the forefront of what we do.
What do you need to be successful?
Quite simply I am driven by the want to support my family and
enjoy the sense of fulfilment and achievement.
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