Spirit of the Entrepreneur: Travis Pate State Farm

Oct. 21--VALDOSTA -- Being an entrepreneur isn't always easy and everyone does it a little differently. Some open online stores, while others open brick-and-mortar storefronts.

Some go all in and invest their lives into a new venture, while others start a new business as something to do on the side. Regardless of the type, entrepreneurs help drive the local economy.

Travis Pate, State Farm agent, never intended to be an insurance agent when he went to school.

Graduating from Valdosta State University as a double major in finance and economic in 1996, Pate originally planned to become a financial advisor. However, the job market did not support his wishes, so he looked elsewhere.

Around the time he graduated, State Farm was starting up its national catastrophe team, he said.

Once again, life had other plans. State Farm filled the team with agents who already had experience in claims. This, however, left many open positions for Pate to apply for to become a claims representative for State Farm.

"For me, training was a three-month ramp up," he said. "So, I had to go to our home office for three weeks and go through all the training processes to become a representative."

After a couple of years as an auto claims representative, Pate decided if he wanted to continue moving up as a claims representative or if he wanted to become an agent for State Farm.

"I decided that an agency is the direction I wanted to move in," he said. "So, after four years I applied and received my own agency.

"As an agent I have four and one part-time employees. I'm an independent contractor for State Farm. I set my own hours and I work as I want in the parameters set by State Farm."

When Pate opened his agency in 2002, the company required that he work for State Farm for three years before becoming an agent, he said. State Farm doesn't have that stipulation anymore, but Pate said his time as a representative helps him better help his customers.

"Having a background in auto claims, I have an understanding of how the claims works," he said. "I can help walk my customers through that process a little easier. And understanding that we are all on the same team is beneficial; it's not you against me."

Since opening, Pate has relocated his office twice because of the growth his business has experienced.

"I would not have been able to fit my current team into either of my former locations," he said.

Pate offered two pieces of advice for potential entrepreneurs and one piece for the community:

"One: You need to understand your business, and two: you need to understand capitalization of that business," he said. "What I mean by that is that most people that jump into a business don't really understand the cost associated with start up.

".... I think a lot of people think they are covered under their polices, whether it's home owners or auto, but they don't take the time to go over their coverage with their agent. Understanding it is important because she bad things happen, like a hurricane, the last thing we want to have happen is that you aren't covered."

State Farm is the largest homeowners and car insurance company in the country, Pate said. It also offers life and health and financial service products such as banking financial investments. State Farm has about 100 products available to customers.

Travis Pate State Farm, 2310 N. Patterson St., Building G, is open 8:30 a.m.-5 p.m. Monday through Friday or by appointment. For more informant, call (229) 242-6789.

Jason Smith is a reporter at The Valdosta Daily Times. He can be contacted at 229-244-3400 ext.1257.

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