Put the Success Back into Succession!

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

The Difference: Bookkeeper to CFO

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

Producer Management – Where most Agencies Fail

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

Success and Mindset – the Power Connection

“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

Can you truly win without keeping score?

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

Pipeline Management – It’s more than a pipe dream!

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

YEAR END IS NEAR!

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

View #2 of Don’t Burn Bridges, You Might Need Them Someday…

The last post focused on how an employee should exit a job.  This one is for the employer/supervisor’s point of view… It has happened.  Your team member has turned in their letter of resignation.  Change is imminent.  Now it is time to face your own emotions.  Yes, emotions.  Do you feel betrayed?  Angry?  Or, maybe… Continue Reading

Know more about your employees than just their name!

Several years ago, I started a blog called Managing Business Acumen.  Though I loved writing it, the audience never seemed to take root and eventually it fell by the wayside.  Yet, here is another attempt.  Why?  What is that motivation that continues to drive me?  There are very simple answers: To be heard; To make… Continue Reading