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...ogy. Regardless of the industry, suppliers and distributors alike are embracin...rticularly the relationship between suppliers and distributors. As we've seen ...

... of honesty as a basic guiding precept of your agency. Your mission statement is a good place to reinforce this principle. Set standards regarding expense accounts, long-distance telephone calls, completion of insurance applications, postage, and copier use. In order for the honesty principle to be taken seriously by all, all management personnel must set an example. If employees see managers cheating on their expense accounts or falsifying insurance applications, it gives the impression that some forms of stealing are acceptable. Ultimately, other questionable employee behavior will result. BUSINESS-TO-BUSINESS FRAUD Unfortunately, some businesses exist solely to victimize other businesses. Crimes in this area take the form of double or duplicate billing, office supply scams, and unfair competition. Duplicate billing is typically aimed at large businesses, but insurance agencies are no exception. Suppliers with whom you have been doing business for years may suddenly encounter a cash-flow crunch and decide to use you as a way of becoming solvent. These scams generally begin with a small test double billing. Your bookkeeper, of course, knows that you have been doing business with the supplier for years and pays the bill without question. Sometimes, the schemes are made more complex. For example, a supplier may ship you 1,000 widgets and bill you for 1,500. If you have a sharp bookkeeper who catches the error, he or she will almost always assume it was an honest error, rather than an intentional act. In order for you to avoid crimes such as this, your policies should make that your receiving staff performs an exact count of all items shipped ...

...ss of 5% of gross sales. d. Main suppliers of the products, percent of total p...ce sensitive? Who are the top major suppliers in the industry? How technologically advanced and competitive are the suppliers? How are the relationships with the suppliers? 7. Any environmental issues tha...

...rance agencies are no exception. Suppliers with whom you have been doing busin...ssociations with known unscrupulous suppliers or vendors? Is the agency e...

... areas of expertise that are declining in importance or relative volume. Your Customers What identifiable customer groups does your agency primarily serve now? 1.____ 2.____ 3.____ 4.____ What other customer groups are important to the future of your business? 1.____ 2.____ What particular abilities to serve these groups does your agency possess that distinguishes it from other agencies? 1.____ 2.____ 3.____ Mark a plus (+ ) by the above products and areas of expertise that are gaining in importance or relative volume. Mark a minus ( -) by the above products and areas of expertise that are declining in importance or relative volume. CHECKING THE ENVIRONMENT What are the predominant businesses in the geographic area you've selected to serve? What's your penetration (market share) into these kinds of insureds? What suppliers aggressively target the businesses that are dominant in your area? Do you now have relationships with these suppliers? What risks do your primary carriers aggressively seek? What's your penetration (market share) into these kinds of insureds? What will it take for your agency to establish superior expertise in the products and services you choose to provide? What will it take for your agency to establish superior expertise in the products and services you choose to provide? Should you limit the products and services you provide? Or expand? (How?) Should you limit or expand the customer groups you serve? (How?) Should you limit or expand territory you serve? (How?) Find out what you don't do well. And then don't do it. Login or Register (for FREE ...

... do plenty of companies that enjoy high retention rates and customer loyalty. They're deeply committed to relationship building with their workers, their customers, and their community. Instead of closing sales' they open relationships. They've moved from being transaction-based businesses to being relationship-based businesses. They've found the secret to nourishing relationships, honing interpersonal as well as technical skills, slowing down long enough to listen to what customers and staff members are saying — and putting many of their ideas into practice. I'd like to share my view of business with you. Imagine that a business sits atop a tripod. Each of the three legs of the tripod represents a different set of relationships: External, Internal, and the Inner relationship of the individual. I call this the Working Relationship Tripod.sm External relationships involve your customers, your suppliers, your community, your stockholders, the families of those who work for you and yes, even your competitors. Internal relationships concern your employees and managers. The Inner relationship focuses on the all- important interaction that an individual has with her/himself and with the company. Fostering the interaction among these three relationships provides the opportunity to create a business environment that breeds success across the board: physically by providing an ample living and good working conditions; emotionally and intellectually by offering challenges and opportunities; and spiritually by empowering the self-development of the individual. As the nature of work continues to change, more and more knowledge workers' will insist on environments that suit their lifestyle. Although the traditional pursuit of upward mobility still drives many young workers, others focus on achieving a more balanced ...

...r protection against the loss of suppliers or buyers, coverage of payroll expe... I covered for the loss of critical suppliers or buyers? 11. Am I covered for ...

...kinds of insureds? What suppliers aggressively target the businesses ...u now have relationships with these suppliers? What risks do your pri...

...ur relationships with customers, suppliers, and employees. Size matter...ten carefully to your customers and suppliers so you can be prepared for the c...

...corporation. Still, they are the suppliers of the products that you sell. What...there from animosity with your only suppliers? Agents fall into two spending a...