For many businesses and employees, the standard business model is for the employer to pay the employee a fixed salary based on a basic understanding that the employee will perform certain tasks. Compensation might be altered based on some variables …
There’s a very simple formula for getting whatever you want for your agency. This is so simple it seems trivial and few people follow it. But if these steps are followed, agency owners can create anything they want in the …
What ingredients make up a good account manager? What do you look for in terms of skills, knowledge, education and experience? Which responsibilities should management give them? The answers to these questions – which will vary by agency – determine …
It’s time to get out the crystal ball to think about what trends might help or hurt the agency in the coming year. By being proactive and strategic, agencies could stay ahead of the competition. And if today’s trends can …
Congratulations! You are an excellent salesperson and your business is growing. You first hired a customer service representative (CSR) to support you as you added new business. You might have brought on a part-time bookkeeper. Sales continued to grow. Next, …
Last month’s “Minding Your Business” column explored a few reasons an agency might perpetuate the firm, the four common techniques to transfer ownership, pros and cons, and some options for internal perpetuation. This month’s column will discuss the remaining most …
Long before owners want to retire, perpetuation planning should begin. The four major techniques to transfer ownership of a business are: Internal sale to key employees, including family members. Sale of the business to an outside firm. Merging with another …
When an agency is started, most new owners will be happy to sell their products or services to anyone that is willing to buy. After all, one needs to have paying clients to stay in business! However, this approach is …
How is the best way to measure the business’ success? Often business owners have a good grasp of the financial indicators and sales of their business. Knowing sales is important — owners might know off the top of their head …
How is the best way to measure the business’ success? Often business owners have a good grasp of the financial indicators and sales of their business. Knowing sales is important – owners might know off the top of their head …
