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 …
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 …
Sales are the lifeblood of any business. So, one would think that each company will have a well-thought-out sales strategy. The reality is that most insurance agencies have, at best, a general outline of a sales strategy. More often than …
In May, one of our agency clients, Milestone Risk Management & Insurance Services in Irvine, Calif., (Ron & John Hoefer) sponsored an incredible Leadership Summit at the Hyatt in Huntington Beach, Calif. We attended the event along with 564 insurance …
Employees should have continual training. They should be trained in “conflict resolution, hospitality and emotional intelligence,” according to Richard Branson of Virgin Cos. Employees need to truly understand the customer’s perspective to resolve issues and not push the problems or …
A new book called “Start with Why” by Simon Sinek covered this topic and gave us inspiration for this article. In the book, Southwest Airlines founder Herb Kelleher talked about how his hiring practices of not hiring “for skills [but …
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. …
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 …
