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... who are consistently exceeding their value creation quota. Assuming that the shareholder will choose to increase efforts (selling off stock generally isn't considered an attractive option), how can he or she know which activities to focus on? In our valuation and consulting work over the years, we've observed a Value Creation Hierarchy. Some activities are more potent value creators than others. Here's a list of value-building activities, listed in descending order in terms of greatest to lowest impact on value. Your largest shareholders should engage in activities near the top of the list. A shareholder trying to create increased value can concentrate on becoming more effective at current activities or migrate up the ladder and focus on higher levels of value-creating activities. VALUE CREATION HIERARCHY 1. Rainmaking Recruiting producers and managers (raising human capital') Scouting mergers and acquisitions Developing products or programs Selling jumbo accounts 2. Production Sales leadership and management Client generation 3. Support Top-tier technical support (account executive) Middle-tier technical support (customer service rep) Administrative support This list isn't all-inclusive. For example, it doesn't cover a chief financial officer or a chief operating officer. They build value in many ways and might fit into several categories in this hierarchy, depending on their particular talents. We also acknowledge that measuring the value created by shareholder efforts isn't a task for the faint-hearted. It can be extremely difficult, for example, to measure the value created by a sales manager or a chief operating officer. That misses the point, though. The compelling benefit of this approach, despite some of the practical difficulties, is that it focuses ...

... goal is interdependence: teaming with the allies needed to achieve the vision within the value structure. Creating and networking will then be the work; communications, knowledge, and innovation will be the tools. Followers must go through the dependence and independence phases to interdependence to grow; they can't mature by skipping a phase. The leader and the followers have to function at the same phase until it's time to move to the next level - then the leader leads! In some organizations, leadership isn't in sync with the followers; other organizations have multiple leaders who aren't all at the same phase. Success requires them all to be in this together, whether it's in a certain phase or positioning to move to the next one. If the leader is too far ahead of the organization, they're a scout, not a success. This bleeding edge' position is great for developing the organization's vision, but it won't facilitate implementation, efficient operation, effective results, and the customer delight' we all want and need today. The leader needs to get in step with the organization, guide it to maturity, and lead the way to the next stage and ultimately the future. If the leader lags behind the organization, they're not in charge. Dragging the organization backward to meet the leader would be equivalent to denying its future, including changes in marketplace and competition. It may be possible to fast-forward the leader to maturity, but it's not probable. Patriarchs are particularly difficult to change; by nature they aren't flexible. A patriarch is a patriarch because they enjoy it! They like being ...

... who can't accept them must leave or be left) . The process to achieve these goals can consider the diversity of the workforce and the consensus that will evolve through the process. Leadership should invite dialogue, debate, discussions, dissent, etc. during the planning process; but once a decision is made, the only option available to the team is commitment. IMPROVE LEADERSHIP PERFORMANCE There's a lot of confusion these days between leadership and management. You must lead people and manage things. Leaders must be effective and managers need efficiency. A few roles of today's leader include: Dream Catcher — captures the vision Environmental Engineer — removes the toxins from the workplace Security Guard — protects the vision, values, and mission Organizational Architect — designs the foundation/infrastructure Coach — recruits develops, plans, scouts, and wins Cheerleader — motivates the team DESIGN EFFECTIVE SURVEYS I believe the biggest need in business today is to know customers. All too often managers knowabout customers, but they don't know customers. My advice is to "get out more." Mass markets are the past; mass customization is the future. Surveys are important in learning more about your customers, but I urge you first to know them — build relationships ! My daddy (as many of we southerners refer to our fathers) did mosaics. He'd place the glass tiles in the picture, and once the process was complete, he'd add grout to finish the picture and fill in the spaces between the pieces. Individual relationships (niche of one) are the "tiles," and the "grout" (surveys ...

... who can't accept them must leave or be left) . The process to achieve these goals can consider the diversity of the workforce and the consensus that will evolve through the process. Leadership should invite dialogue, debate, discussions, dissent, etc. during the planning process; but once a decision is made, the only option available to the team is commitment. IMPROVE LEADERSHIP PERFORMANCE There's a lot of confusion these days between leadership and management. You must lead people and manage things. Leaders must be effective and managers need efficiency. A few roles of today's leader include: Dream Catcher — captures the vision Environmental Engineer — removes the toxins from the workplace Security Guard — protects the vision, values, and mission Organizational Architect — designs the foundation/infrastructure Coach — recruits develops, plans, scouts, and wins Cheerleader — motivates the team DESIGN EFFECTIVE SURVEYS I believe the biggest need in business today is to know customers. All too often managers knowabout customers, but they don't know customers. My advice is to "get out more." Mass markets are the past; mass customization is the future. Surveys are important in learning more about your customers, but I urge you first to know them — build relationships ! My daddy (as many of we southerners refer to our fathers) did mosaics. He'd place the glass tiles in the picture, and once the process was complete, he'd add grout to finish the picture and fill in the spaces between the pieces. Individual relationships (niche of one) are the "tiles," and the "grout" (surveys ...

... George Washington? What is the capital of Nigeria? Protoceratops was about the size of: elephant, horse, pig, or ostrich? Who is Shorty LeFeuw? On what date did president Abraham Lincoln die? What is the name of the largest asteroid in the Solar System? How tall (to the nearest 1,000 feet) is Mount Everest? In what year will Halley's Comet return? Bill Wilson is a "big, BIG fan" of what rock band? What's the secret of life? You'll note that these have nothing to do with insurance. That's for two reasons. First, I wanted to select things that most people are unlikely to know and would have to use a search engine to find. Second, these are the same questions I used with my Cub Scout den, so let's see how you do compared to six 10-year-olds! The goal of the CompleteMarkets editor is to bring valuable content to the CompleteMarkets members. Providing content to insurance professionals to enhance their sales process, increase revenue streams, understand their clients and provide value to their agency. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online ...

... who can't accept them must leave or be left) . The process to achieve these goals can consider the diversity of the workforce and the consensus that will evolve through the process. Leadership should invite dialogue, debate, discussions, dissent, etc. during the planning process; but once a decision is made, the only option available to the team is commitment. IMPROVE LEADERSHIP PERFORMANCE There's a lot of confusion these days between leadership and management. You must lead people and manage things. Leaders must be effective and managers need efficiency. A few roles of today's leader include: Dream Catcher — captures the vision Environmental Engineer — removes the toxins from the workplace Security Guard — protects the vision, values, and mission Organizational Architect — designs the foundation/infrastructure Coach — recruits develops, plans, scouts, and wins Cheerleader — motivates the team DESIGN EFFECTIVE SURVEYS I believe the biggest need in business today is to know customers. All too often managers knowabout customers, but they don't know customers. My advice is to "get out more." Mass markets are the past; mass customization is the future. Surveys are important in learning more about your customers, but I urge you first to know them — build relationships ! My daddy (as many of we southerners refer to our fathers) did mosaics. He'd place the glass tiles in the picture, and once the process was complete, he'd add grout to finish the picture and fill in the spaces between the pieces. Individual relationships (niche of one) are the "tiles," and the "grout" (surveys ...

... George Washington? What is the capital of Nigeria? Protoceratops was about the size of: elephant, horse, pig, or ostrich? Who is Shorty LeFeuw? On what date did president Abraham Lincoln die? What is the name of the largest asteroid in the Solar System? How tall (to the nearest 1,000 feet) is Mount Everest? In what year will Halley's Comet return? Bill Wilson is a "big, BIG fan" of what rock band? What's the secret of life? You'll note that these have nothing to do with insurance. That's for two reasons. First, I wanted to select things that most people are unlikely to know and would have to use a search engine to find. Second, these are the same questions I used with my Cub Scout den, so let's see how you do compared to six 10-year-olds! The goal of the CompleteMarkets editor is to bring valuable content to the CompleteMarkets members. Providing content to insurance professionals to enhance their sales process, increase revenue streams, understand their clients and provide value to their agency. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online ...

...Coach — recruits develops, plans, scouts, and wins Cheerleader — motivates...

... George Washington? What is the capital of Nigeria? Protoceratops was about the size of: elephant, horse, pig, or ostrich? Who is Shorty LeFeuw? On what date did president Abraham Lincoln die? What is the name of the largest asteroid in the Solar System? How tall (to the nearest 1,000 feet) is Mount Everest? In what year will Halley's Comet return? Bill Wilson is a "big, BIG fan" of what rock band? What's the secret of life? You'll note that these have nothing to do with insurance. That's for two reasons. First, I wanted to select things that most people are unlikely to know and would have to use a search engine to find. Second, these are the same questions I used with my Cub Scout den, so let's see how you do compared to six 10-year-olds! The goal of the CompleteMarkets editor is to bring valuable content to the CompleteMarkets members. Providing content to insurance professionals to enhance their sales process, increase revenue streams, understand their clients and provide value to their agency. Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers and wholesalers. Net result. More revenue for your agency! Clients & Prospects will research you, your co-workers and your agency here. The most comprehensive online ...

... your ability to offer more information or greater convenience than the competition. Focus on how your site can make life easier for clients and prospects, and then deliver specific information or services to accomplish this goal. For example, offer clients who might not be able to phone in policy changes, certificate requests, and so forth during business hours the ability to enter this information around the clock. Your site might also provide online information on various coverages or offer e-mail links to the agency employees best qualified to answer specific questions. TIP #3 : ALLOCATE YOUR TIME ONLINE You can't just open a Web site storefront and then watch the business flow in without having to go online again. Maintaining online visibility requires continuous effort and participation. Constantly plan new ways to make your business visible, whether by scouting out new advertising sites or directories, adding to your Web site, participating in discussions, or planning an online publication or conference. Implement these recommendations on your site and you'll see your sales and profits grow! Jack Fries can be reached at Fries & Fries Consulting, P.O. Box 66, Alexandria, KY 41001; phone (859) 441-4528, fax (800) 887-5874; e-mail: [email protected] , or Web site www.jackfries.com Login or Register (for FREE) to gain access to thousands of other great articles. Need more reasons to join? Need insurance for you, your business or your family? Get quality appointments - Save yourself a whole lot of time & money when you use our directory of carriers, wholesalers and service providers. Negotiate lucrative contracts with carriers ...