Abe Dispennette
LAVA News:
The Los Alamos Venture Accelerator (LAVA) has worked hard to support entrepreneurs who are trying to turn their ideas into viable businesses. The Los Alamos entrepreneurial community, however, also includes business owners who run successful franchises. Abe Dispennette, one such entrepreneur, owns and operates the State Farm Agency next to Violas at 1362 Trinity Dr.
“For aspiring entrepreneurs, Abe is a great success story,” said LAVA’s founder Nik Seet.
“I’m never going to think of the ‘Next Big Idea,’ but I am good at running a business,” said Dispennette, who has grown the business by 20 percent in the past two years.
When he became a State Farm agent, they gave him a book of business, it was his job to grow and expand that roster. The experience of running a business, which is already fully functioning, gave him an opportunity to focus on marketing, networking and doing all the things that make a business take off. He looks forward to sharing his knowledge with other entrepreneurs through LAVA.
Dispennette is a combat veteran of Iraq and Afghanistan. He has a background in counseling and theology and served as a chaplain in the 101st Airborne Division and Special Forces. He earned an MBA degree while serving. He had a stable job with the Army, yet he was thinking about starting a business of his own. He liked the idea of being in control of his own destiny, influencing others, and being able to create jobs for people.
Then in 2012, his son was facing a health problem while Dispennette was serving in Iraq and being away from his family during that time gave him an urgent reason to change direction. Dispennette learned about State Farm from a friend whose mother worked for State Farm. She got him started with the process of becoming an agent.
“They invest in entrepreneurs who will grow the book of business,” Dispennette said. “It’s a very exciting process.”
Early on in the process, he had to take a big risk—a professional leap of faith. His State Farm recruiter told him that he had to join the May class if he was going to be accepted. But he still hadn’t put in paperwork to resign from the Army, and that usually takes about nine months. He handed in his resignation before he interviewed for State Farm, and his request was (amazingly) approved in only six days.
“I took that as a good sign, but it also meant that I didn’t have a job when I interviewed for State Farm,” Dispennette said. “Luckily, they saw my commitment, and that’s why I got the job”
Once accepted, he had to be placed. “I’m not interested in being a face in the crowd,” Dispennette said. “I told them I wanted to go to a small town where I can make a difference.”
They suggested Los Alamos, so he took his family on a vacation to check out the town and they thought it was beautiful. He met with his advisor, James Medina, and they walked around asking people what they thought of Los Alamos. The feedback they got about the town reassured him that it would be a good place to move. His wife, Kirsta, is his business partner and vice president.
“I wouldn’t have been successful without her support and partnership,” he said.
Dispennette is glad that State Farm is aligned with his personal values and sense of integrity. As a businessperson, he said he believes that it’s important to be above reproach both professionally and personally. The biggest products he sells are insurance for home, auto and life. He recently became licensed to sell mortgages and partnered with Blue Cross Blue Shield to sell health insurance.
Running a State Farm agency made Dispennette want to run more businesses and is considering starting another small business, like a coffee shop, out of his extra space in Los Alamos.
“Owning a business seems so scary when you’re starting out, but it’s actually not that hard,” he said.
The entrepreneur who partners with him will enjoy creative freedom, and Dispennette will provide support with structuring and advertising the business.
The Abe Dispennette State Farm Agency is at 1362 Trinity Dr., Suite B and its telephone number is 505.662.2200.
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