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...educed price if they have no young blood to carry the existing book of busines...acquisitions, and joint ventures with banks, insurance companies, accountants,...

... for agency principals, however, is a Perpetuation Plan. When all of the owners are entering their 60s it might be too late to do much about perpetuation. Most will be forced to sell to an outside buyer for a reduced price if they have no young blood to carry the existing book of business or to produce new accounts for the buyer. And "young blood" isn't always the answer. Don't assume that the younger people in the agency want to pay you what you think is a good price for your ownership ... heads in the sand and ignoring the issue will almost always end in an ugly resolution, both emotionally and financially. SALES CULTURE Successful agencies develop a sales culture that rewards sales people for selling the types of business that are profitable for the agency while not breaking the bank. Most high-valued agencies use sales centers to get ex-dates and set appointments for the producers. They're also involved in program or niche selling that targets profitable accounts. Expansion into Employee Benefits is often critical to the overall success of agencies. Rounding out or getting rid ... up to sell new business. PERSONNEL MANAGEMENT To break out of traditional way of doing things, you'll need to hire, motivate, and retain the right kind of service and sales personnel. The people that you hire (or keep) should all have personal/professional career path requirements and pass applicable personality tests. Rid your agency of any dead wood. Firing staff is one of the hardest things for agents to do. But biting the bullet is one of the most important actions that you can take to be successful. ...

... for agency principals, however, is a Perpetuation Plan. When all of the owners are entering their 60s it might be too late to do much about perpetuation. Most will be forced to sell to an outside buyer for a reduced price if they have no young blood to carry the existing book of business or to produce new accounts for the buyer. And "young blood" isn't always the answer. Don't assume that the younger people in the agency want to pay you what you think is a good price for your ownership ... heads in the sand and ignoring the issue will almost always end in an ugly resolution, both emotionally and financially. SALES CULTURE Successful agencies develop a sales culture that rewards sales people for selling the types of business that are profitable for the agency while not breaking the bank. Most high-valued agencies use sales centers to get ex-dates and set appointments for the producers. They're also involved in program or niche selling that targets profitable accounts. Expansion into Employee Benefits is often critical to the overall success of agencies. Rounding out or getting rid ... up to sell new business. PERSONNEL MANAGEMENT To break out of traditional way of doing things, you'll need to hire, motivate, and retain the right kind of service and sales personnel. The people that you hire (or keep) should all have personal/professional career path requirements and pass applicable personality tests. Rid your agency of any dead wood. Firing staff is one of the hardest things for agents to do. But biting the bullet is one of the most important actions that you can take to be successful. ...

... for agency principals, however, is a Perpetuation Plan. When all of the owners are entering their 60s it might be too late to do much about perpetuation. Most will be forced to sell to an outside buyer for a reduced price if they have no young blood to carry the existing book of business or to produce new accounts for the buyer. And "young blood" isn't always the answer. Don't assume that the younger people in the agency want to pay you what you think is a good price for your ownership ... heads in the sand and ignoring the issue will almost always end in an ugly resolution, both emotionally and financially. SALES CULTURE Successful agencies develop a sales culture that rewards sales people for selling the types of business that are profitable for the agency while not breaking the bank. Most high-valued agencies use sales centers to get ex-dates and set appointments for the producers. They're also involved in program or niche selling that targets profitable accounts. Expansion into Employee Benefits is often critical to the overall success of agencies. Rounding out or getting rid ... up to sell new business. PERSONNEL MANAGEMENT To break out of traditional way of doing things, you'll need to hire, motivate, and retain the right kind of service and sales personnel. The people that you hire (or keep) should all have personal/professional career path requirements and pass applicable personality tests. Rid your agency of any dead wood. Firing staff is one of the hardest things for agents to do. But biting the bullet is one of the most important actions that you can take to be successful. ...

... for agency principals, however, is a Perpetuation Plan. When all of the owners are entering their 60s it might be too late to do much about perpetuation. Most will be forced to sell to an outside buyer for a reduced price if they have no young blood to carry the existing book of business or to produce new accounts for the buyer. And "young blood" isn't always the answer. Don't assume that the younger people in the agency want to pay you what you think is a good price for your ownership ... heads in the sand and ignoring the issue will almost always end in an ugly resolution, both emotionally and financially. SALES CULTURE Successful agencies develop a sales culture that rewards sales people for selling the types of business that are profitable for the agency while not breaking the bank. Most high-valued agencies use sales centers to get ex-dates and set appointments for the producers. They're also involved in program or niche selling that targets profitable accounts. Expansion into Employee Benefits is often critical to the overall success of agencies. Rounding out or getting rid ... up to sell new business. PERSONNEL MANAGEMENT To break out of traditional way of doing things, you'll need to hire, motivate, and retain the right kind of service and sales personnel. The people that you hire (or keep) should all have personal/professional career path requirements and pass applicable personality tests. Rid your agency of any dead wood. Firing staff is one of the hardest things for agents to do. But biting the bullet is one of the most important actions that you can take to be successful. ...