Family businesses are the backbone of the U.S. economy. There are 5.5 million family businesses in the United States. According to the U.S. Bureau of the Census, about 90% of American businesses are family-owned or controlled. Ranging in size from …
Mergers and acquisitions continue to occur at a very fast pace, despite COVID-19, election results, unemployment, natural disasters, etc. After price and terms are negotiated, and a letter of intent is executed, then it is time for buyers and their …
A few years ago, Catherine had a total knee replacement by an excellent orthopedic surgeon in Fremont, Calif. Dr. John Dearborn was recommended by two of our insurance clients that have had incredible success. This surgeon implemented “systematic processing” of …
Every insurance agency client we have today is seeing producers struggling with new production because of COVID-19 restrictions. They are used to cold calling and getting in front of prospects and that has been difficult, if not non-existent. In addition, …
Death and taxes are as inevitable as life itself. Yet most fail to plan for the inevitable. An ounce of early preparation is worth a pound of last-minute maneuvering. Thinking through the eventual exit ahead of time allows you to …
We all know about the Pareto Principle, the 80/20 rule. It also applies when analyzing the profitability and the work required for an agency’s book of business. Roughly 20% of the accounts generate 80% of the revenue, and 20% of …
As merger and acquisition consultants, we wonder how long unusually high EBITDA multiples will be paid by buyers. Most of our insurance agency clients have not seen dramatic losses of commissions and fees during COVID-19, mostly because of not having …
The coronavirus pandemic has led to various versions of lockdowns and quarantine orders, which are now being revised during the summer due to a resurgence of cases. Many businesses still have workers who are now required to work remotely. With …
What makes a good and motivating producer compensation model does not need to be rocket science. The key is to pay what the agency can afford to pay and for what the firm is providing the producers. Lastly, the plan …
Life has changed for everyone since the lockdown of US citizens and businesses a few weeks ago by our local and federal governments. No one can really believe that in such a short time, beginning mid-March, that our lives could …
