With the passing of the Tax Cuts & Jobs Act of 2017 (TCJA), there is quite a lot of talk about how it will impact businesses, what businesses are doing with any additional monies, as well as what happens to …
As competition intensifies, agency owners have found it increasingly difficult to grow their business. Profit margins have shrunk, leaving many to turn to acquisition to sustain a high level of growth. This is known as a red ocean trap, where …
To prepare for the future, business owners need to observe what trends are occurring and then evaluate how those trends could impact their business. It is a guessing game, but an educated guess is usually proven to be better than …
Northern California and specifically Sonoma and Napa Counties have experienced the worst wildfires in the history of California. Most of these fires began around Oct. 8, 2017, during night with extremely high winds, that knocked power lines out in hills …
Hiring quality people for an insurance agency has always been tricky. With a good economy, it becomes even more difficult. Employees favor meaningful work, trust and respect from the employer, and a sense of community over compensation and long-term employment. …
Family businesses are the backbone of the U.S. economy. They generate more than 50 percent of the gross domestic product (GDP) and more than 70 percent of job creation. However, only about one-third survive into the second generation, and 12 …
What makes the difference between an average agency owner and a great one? The key is learning the skills of financial management. There are many times that consultants are called in to assist owners with financial problems. Some owners have …
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 …
