Everyone wants to make and have more money but understanding all the available financial options and opportunities can be overwhelming. Many agency owners are juggling debt, income, personal and professional mortgages, and complex investment plans, most of which are managed by advice we were given by our parents when we were young. We’ve heard of ways to use our money to make money, but it all sounds a little impossible to believe. […]
The reality of agency life is that it's a mix of good news and bad and as leaders, we have to communicate both to our team. How do you effectively deliver bad news in a way that doesn't leave a bad taste in everyone's mouth?
As part of our succession planning work, we have seen and worked with owners going through every stage of agency life. We’ve seen agencies evolve and dissolve and there are complexities along the way regardless of the journey. One of the most complicated relationships can be between partners, whether that be partners who own and run an agency together, or an agency owner who is transitioning to selling his agency to one or more employees. […]
Nashville is known for its Goo Goo Clusters. Disney World is known for Mickey Mouse. What is your agency known for? Do you have a visual symbol or something memorable that your clients and employees can't help but talk about. Jay Baer has taught us about Talk Triggers. What's yours?
As agency owners and leaders, we need to help our team learn how to communicate effectively with one another. This might be an area of growth for us as well! The need for candor in agencies is critical if we're going to do our best work. But how do you coach candor?
As agency owners, we talk about succession planning as though we're guaranteed to call the shots. But sometimes, that's not how it plays out. Is your family protected, no matter what the circumstance?
At Agency Management Institute, we have the privilege of serving hundreds of agencies and their owners every year. This gives us a unique vantage point when it comes to succession planning, particularly those involving an internal (employee) purchase. We have been a part of many successful transactions over the years, but we’ve also witnessed rocky transitions that didn’t serve the best interests of the owner, buyer, or agency. When it does not go well, at its very best – everyone loses some money. And at the very worst – you lose trust, long-term relationships, and the future you’ve worked so hard to earn. That’s why we’ve put together a comprehensive program that will help an agency owner go from thinking about a potential succession all the way through the close of the sale. We lined up subject matter experts to help along the way so that we can be your one-stop-shop. We can join you in your journey, no matter how early or late in the process you are. But we believe we can deliver the most value and create the highest level of win/win for everyone if we walk alongside you from the beginning. Want to learn more? Start by downloading our overview of the program. It is not meant to be all encompassing. Instead, it’s meant to trigger questions, ideas, and conversation. As you can imagine, this is not a one-size-fits-all pre-packaged offering. The work we do with you will be customized based on the needs of the owner, the buyer, and the agency. Take a look and then let's talk.
It's the time of year when many agency owners start thinking about their fourth quarter tax planning strategy, which typically involves pre-paying for 2022 expenses or buying a bunch of things they may or may not need. But what if you thought differently this year and looked for ways to invest versus spending?
Every agency on the planet is struggling to hire right now. But some have come up with some creative ways to find that elusive next employee!
Every agency is struggling to hire right now. This means sometimes you feel like your back is against the wall...and you have to settle. I want you to remember to trust your gut. Always.
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