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...e a profit and build value for the owner(s). Marketing personnel can help agen...d: Any 'soft dollar' costs benefiting owners (excess T&E, excess auto)...

What To Do When An Owner Retires
Retirement should never be...t based on the personality of the new owner. These changes are natural and sho...

...ther threats to the small business owner that can turn the life of even the mo... of the agency operation when a major owner is involved in a long legal battle...

Payday: What's An Agency Owner Worth?
One of the toughest financial decisions agency owners face is how much to pay themselves. ...zational structure and tax situation. Owners who base their decisions about pr...

What Makes A Great Owner?
WHAT MAKES A GREAT OWNER? by Catherine Oak If the role of an owner was treated like any other position i...e “big picture” of agency ownership. The key is to understand all ...

...n perpetuation plan. In fact, most owners have not even provided verbal instructions to their families, co-owners, accountants, or attorneys regarding...o motivate employees while addressing ownership transfer within the agency. ...

... Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back At Times, Business Owners Can Be Their Own Worst Enemy 5/11/2015 12:00:00 AM by John Graham This content has not been rated yet. Those who own a business hold their peers in high regard. You might dislike someone personally, but give them a thumbs-up when it comes to running a company. Those who survived the recession deserve a special commendation. Only the native outsider thinks ... should occur if the company is to continue growing. This is another way of saying that someone needs to bring discipline and order to the business. Not surprisingly, those around the "Big Guy" may see it quite differently. To work successfully with a business owner, it's critical to know where the company is at the moment. • "My way or the highway." Although entrepreneur-driven operations often possess a sense of excitement (or drama), everyone knows that criticizing the "Big Guy's" ideas is a huge mistake, perhaps akin to treason. On one occasion, the head of 400,000-member organization - the epitome of the "Big Guy" with an awesome title that reinforced it - asked me to prepare a mailing to the members about a credit card program he ...

...stream and equity. To the property owner with no Earthquake insurance or with ...ning and investigation can enable the owner to realize value from an investmen...

... nurtured. You can implement a wide variety of organizational changes (given sufficient time) to minimize the stress on the next generation and/or provide the highest return of assets to the selling generation. If you don't want organizational changes, planning makes the sell-down (or sell-out) more feasible with no surprises. Internal perpetuation should include terms that are acceptable to the seller and manageable to the new owners. Life insurance is essential for crisis transition. For instance, we recently assisted an agency in a transition that will permit the selling owner to remain in the agency (their desire), while the ownership and direction of the agency transitions to the next generation over a long (15-year) period. The payments to the owner will supplement their ongoing income and be used for investment and other ... from retirement; (3 ) when you become ill enough to know that someone else has to take over; or (4 ) when you're finally fed up to the gills with the cycles, carriers, or ingrate clients who leave you after they assured you that they would never move. However, a growing number of agents are realizing that perpetuation planning is as much a part of the profitable operation of their businesses as having Life insurance without intending to die. Perpetuation planning while you're in your 40s or 50s can help assure you of keeping your highly motivated employees (including children) who might otherwise look to greener pastures. The fact is that business continuance depends on prudent, and timely, planning: Strategic planning, financial planning, management succession planning, and personnel development planning. This ...

... agency office supplies, salaries, etc. I have no problem having my department pay for what it uses. My problem comes from being charged roughly one-fourth of the common overhead for the total agency, for such items as agency administration, accounting, legal services, taxes, repair and maintenance, etc. Those agency costs are high and take a big chunk out of our department's income. Agency owners are firm in saying that each profit center must bear its part of the total operation, and I can't find the flaw in their argument (if there is one) . Please tell me they're right and I'm wrong, if that's the way it really is, or else tell me how to show them they're wrong. We really need to know. Ohio Reader Dear Ohio Reader: In ... Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Administrative Expense Changes For The Life Operation 4/30/2013 12:00:00 AM by CompleteMarkets Editor , david goodwin This content has not been rated yet. Here's a letter I received recently: Dear Dave: I am the manager of a four-person Life/Benefits department of a P/C agency. The agency is set up with profit centers such as Personal Lines, Commercial Lines, Surety, and Life/ ...