Yogi Berra once said: “It’s tough to make predictions, especially about the future.” Ignoring that wisdom, what will the insurance agency business model look like in 10 years or 20 years? Right now there are several major trends that are …
Recently, a client of ours had two producers leave to start their own agency. The impact on the agency was significant. These two producers generated about half the agency commissions. The owner was scrambling to adjust to the change. Producers …
Quick, what color is a yield sign? Many adults, especially those more than 50 years old will say unequivocally that a yield sign is yellow and black. The image is so clear in their mind. Well, the yield sign is …
It is a new era for our country, with President Donald Trump coming into power with the theme to “Make America Great Again.” Perhaps it is also the time to do the same for agency planning. Are there things in …
Every business owner will exit his or her business at some point. The key is — will it be on the owner’s terms or someone else’s? The best time to start thinking about exiting the business is when the owner …
The process of selling a business involves an amalgamation of financial, personal and external factors. Sellers should work with their advisors to create a wish list of what they want. It is equally important to create a list of what …
It’s always difficult to admit not being good at something — especially when you are the agency owner and leader of an insurance agency. But knowing a person’s weaknesses is extremely important. Leaders who understand their own weaknesses can find …
Many agency owners would like to acquire another firm that is compatible with theirs. Agency owners today want to be buyers of agencies with books that might be a great fit with the same type of business the agency already …
In today’s business climate innovations in technology and systems have upended communication, payroll and record keeping. Even with these drastic changes one aspect of a business has yet to change, the CEO. Every company big and small has a CEO …
Paul Simon wrote that there are “50 Ways to Leave Your Lover.” For business owners, there are a few less options, however, there are many more permutations of those options. For family businesses, the key is to understand everyone’s needs …
