Agency owners are more than just business owners. They are entrepreneurs. They possess a unique set of characteristics that enable them to identify opportunities, take calculated risks and drive innovation. This entrepreneurial mindset is crucial for success in the business world.

Agents who are considering taking the leap into agency ownership—or those who are already agency owners and are looking to up their game—should cultivate an entrepreneurial mindset.

But what constitutes an entrepreneurial mindset and why is it so important for independent insurance agency owners? Here are four key traits that make up an entrepreneurial mindset:

1) Adaptability and resilience. The world of business is constantly changing. What's hot today might be old news tomorrow. To thrive, you need to be able to adapt to new trends and challenges. This means being open to feedback, learning from your mistakes and constantly seeking ways to improve. Think like a chameleon—you must change to survive in different environments and markets.

2) Innovative thinking. In a crowded marketplace, it's not enough to just offer the same old thing. You need to stand out from the crowd and offer something unique and valuable. Entrepreneurs are creative, constantly thinking outside the box and coming up with fresh solutions to old problems. Ask “What if?" and “Why not?" and be willing to experiment and try new things.

3) Calculated risk-taking. Starting a business involves risk. But successful entrepreneurs don't just blindly jump off cliffs. They take calculated risks, weighing the potential rewards against the potential downsides. They do their homework, assess the situation and make informed decisions based on the best available information.

4) Customer-centric focus. At the end of the day, businesses exist to serve customers. Skillful entrepreneurs understand this and make customer satisfaction a top priority. They listen to their customers, understand their needs and strive to provide exceptional products and services. It's about building relationships, fostering trust and going beyond the transactional to create genuine connections.

How do you actually put these principles into practice? Here are some tangible ways to become a better entrepreneur:

Set clear goals. Having a clear vision of what you want to achieve is crucial. Set specific, measurable, achievable, relevant and time-bound goals—commonly identified as SMART goals—to guide your actions and track your progress.

Become a master of resource management. Time, money and people are the resources that fuel your business. Learn to manage them effectively by prioritizing tasks, delegating responsibilities and using tools to streamline your operations.

Embrace technology. In today's digital age, technology is a game-changer for independent agencies. Invest in tools that can help you automate tasks, improve efficiency and enhance the customer experience. From management systems to sales automation, there's a whole world of tech out there waiting to be explored.

Never stop learning. The entrepreneurial journey is a continuous learning process. Stay curious, read books, attend conferences and connect with other leaders to expand your knowledge and stay ahead of the curve.

Remember, developing an entrepreneurial mindset is an ongoing journey, not a destination. It's about cultivating the right attitudes and habits that will help you navigate the challenges and opportunities of the business world. Embrace the challenge, stay hungry and never stop pushing yourself to grow.

Michael Streit is president of EZLynx.