Trajectory:The Forgotten Key Performance Indicator Imagine being a passenger on a flight to the moon… The command center is busy collecting and monitoring hundreds of dials, gauges and metrics. The pilots are reviewing the results to ensure all systems are “go.” Every last detail is scrutinized for potential dangers. As a passenger, we’re really unaware… Continue Reading
Would you recognize your next producers if you saw them? It may be one of the most talked about, stressed over and confusing topics in the world of independent insurance agencies: Hiring new producers. Progressive agencies can’t grow with out them but they seem to be elusive as a mythical creature. It is an issue… Continue Reading
Succession Plans are typically for a change in business ownership. As well as they should be – you want the business to continue on its path of success as you plan for succession. (Ah, see what I did there? Stay with me, there’s more). All too often we’re seeing the transfer of a business –… Continue Reading
What’s the difference between a bookkeeper and a Chief Financial Officer (CFO)? I suppose it is a matter of interpretation. No pun intended! Every business (and yes, insurance agencies as well ) no matter how large or small has the same essential accounting functions. Therefore, almost every agency needs a bookkeeper, CFO, and CPA. Surprised? It will all… Continue Reading
Let me not keep you waiting for the punch line: “Manage Processes, LEAD People”. Do you know any producers who actually want to be managed? Most of the producers I know, especially the Rain Makers, don’t like being managed, in fact, they hate it. Now don’t get the wrong idea, I’m surely not advocating to… Continue Reading
“It’s not whether you get knocked down. It’s whether you get up.” Vince Lombardi Face it: Life is tough sometimes. It can kick you in the teeth when you least expect it and there is no fairness to it. Even worse, many times there isn’t anything you can even do about it – especially in… Continue Reading
Does this sound familiar: Year after year New Year’s Eve comes and so do the resolutions. Big ideas, goals and plans are the way to get off to a fresh start, right? Past failures won’t deter you! This will be the year you get them done. Then again, you might be on the other end… Continue Reading
Sports teams know their individual stats as well as how they measure up against others – you should too! As an independent agency owner/executive, hopefully you know your top key metrics such as growth rate, sales velocity, EBITDA profit, client retention rate and compensation expense. Monthly, quarterly and annually, the numbers are produced, and business… Continue Reading
Improving your pipeline management is the answer to having a sales year of your dreams! It is a great mystery why prospect pipeline management is such a neglected area when agency owners/executives are constantly dreaming of improved sales and clearer forecasting. Ask any agency owner/executive for their 2019 goals and chances are “increased sales” is… Continue Reading
Here are the five steps you need to take now to prepare your Independent Insurance Agency for year end financial management. Step 1: Don’t wait until March, consult with your CPA / tax advisor now. By this time of year, year-end profit can be projected reasonably well. It’s time to sit down with your CPA… Continue Reading
