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agencies
Articles tagged with agencies
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TRACK RENEWAL WORKFLOW by Grace Bauer Even in the most efficiently managed agencies, there are times when one hand really doesnt know what the other is doing. In this documen...
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TRADE SHOWS CAN BE PROFITABLE TRADE SHOWS MORE PROFITABLE THAN AGENCIES MAY IMAGINE Many agency owners see trade shows as expensive and frivolous events that benefit the show's organizers more ...
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TRANSFORM YOUR AGENCY WITH THE TEAM CONCEPT by Grace Bauer We really don't hear very much about the team concept in agencies today. The only time the concept mentioned is in the con...
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An agency valuation I completed recently came in considerably lower than the agency owners expected. The reason? Their balance sheet was very poor and they were materially out of trust: Meaning that their ratio of Accounts Receivable + Cash to Accounts Payable was less than 1. The agency principals were quite upset that I would decrease their value for this reason. They retorted, “We always pay our companies on time, our companies have never been hurt by this, our customers have never been hurt by this, and our CPA has never found fault with this practice. You're the only one who thinks it matters!”
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TRUST: ITS THE BOTTOM LINE by Chris Burand Do your customers trust you - and, if so, what for? Wal-Mart is known for low prices. A very young boy was heard ...
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TWO FUNDAMENTAL CHALLENGES FOR AGENCIES by Chris Burand How well is your agency developing quality producers and how effective is your management? Successful agencies fac...
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TWO WAYS TO BOOST COMMISSIONS by Gil Simonds Account size and quality can adversely affect the value of an agencys or producers book, due to a combination of lower revenues,...
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UPDATE ON AGENCY VALUATION By Carol Hammes We have lost count of the number of telephone calls that we have received recently asking us what the going rate is for the sale of an insurance agency. ...
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USING OPERATING RATIOS AS A MANAGEMENT TOOL TO INCREASE AGENCY VALUE by Robert Westin The days of determining value solely by applying an assumed multiple to gross commissi...
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In a complex and fluid business environment, this planning outline can help move your agency in the right direction.
“I’m farming as hard as I can but I know I’m not farming as smart as I can.”