Minding Your Business

How to Attain What Agencies Want in 6 Easy Steps

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 …

Profile of a Great Account Manager

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 …

Industry Trends to Exploit for 2015

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 …

Perpetuation Planning – Part Two

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 …

Perpetuation Planning – Part One

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 …

Finding and Selling to Ideal Clients

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 …

Creating Key Performance Indicators

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 …

Planning for Uncertainty

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. …

How to Improve Communication with Insurance Companies

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. …

Managing Time is Imperative

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 …

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