Who is responsible for sales management in most firms? Often the task falls to the owner or the top producer in the firm. This is not necessarily a good idea, because sales management can take away time from the manager’s …
The shortage of good insurance producers is still a valid concern for the industry and the problem has only grown worse over time. Oak & Associates must get an average of one call a week with clients and new potential …
You can’t take it with you. Every business owner will eventually sell his or her business. It can either be on terms the owner defines, or it can be based on whatever happens at the end. So, if an owner …
Business owners have a lot to consider when running a successful business. Unfortunately, many do not consider an exit strategy, especially in the early years of the business. Agency owners without an exit strategy will sometimes make decisions based on …
Growth by merger or acquisition is still a popular and valuable tool. One of the main reasons why this is staying popular among agencies is because it is a way for them to show growth when they are struggling with …
One of the topics an agency owner will often have to discuss with a new or existing producer will be “ownership.” When we ask a producer what they mean by ownership, stock ownership is often what comes to their mind. …
Agency owners must watch and learn about major trends when they start. Following are the eight key trends that insurance agencies should be tracking for 2023. Insurtech Insurtech will continue to be the shiny object that gets much attention but …
When an agency owner decides to sell, there are a plethora of buyers to choose from. A seller should narrow down the options to two or three before serious discussions take place. The next step is to obtain from the …
Why are some transactions or “deals” most likely to happen or not happen? There are a number of factors that come into play and those of us in the industry call them deal makers and deal breakers. Every deal needs …
As the M&A frenzy continues, buyers keep pushing the envelope when it comes to agency value. The private equity firms were initially paying top dollar to their first acquisition of a large, well-run firm platform acquisition. But now, many follow-up …
