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 …
The traditional business plan includes short-term and long-term goals and projections. But, how do you plan when you can’t guess what will happen? Some things are shifting faster than you can keep up with or are changing based on politics. …
Today agents must assume an active role in establishing solid relationships with their insurance companies. The key to any good relationship is communication. Agencies must devise a well-organized plan to communicate with their carriers. This article shows owners the way. …
Time is the only resource we cannot recreate, but how can you optimize being “in control of time” rather than being “controlled by it?” People tend to number their days when they are dying. A woman named Wendy who worked …
To be a high-performing firm, one needs to emulate what the best firms are doing and the traits that bring high-performance to fruition. This article focuses on the top five characteristics the best agencies have in common. 1 – Growing …
In order to be a step ahead of the competition it is best to be proactive. One can do this by understanding and exploiting current and future trends. It is easy to predict trends by understanding recurring cycles and applying …
Where is the Affordable Care Act headed? Are we prepared? Who will be covered and who won’t? Are we robbing from Peter to pay Paul? The list of questions is endless. The answers are few and far between. In a …
