But if opportunity involves an acquisition or other high-value investment, then other sources of funding may be required. This might include acquiring funds from private or public pools of capital or even seeking an investment partner, such as a bank, insurance company, or major agency network. Not only is knowledge of your agency's value critical to successful deal-making, it is an important ingredient in assessing your agency's progress from year to year. Once defined, your agency valuation should be updated regularly. Most agencies cannot operate effectively above normal capacity over an extended period of time.
Specialization is one of the keys to success.
Don't spend time trying to correct all your weaknesses. Use that time to leverage your strengths. In all probability, the insurance marketplace will encompass more change in the next decade than in all three previous decades combined. Drive new business relentlessly and tie compensation of management and personnel to performance The primary purpose of agents and brokers is to sell insurance products and services. The purpose of everyone else in the organization is to support sales, either directly or indirectly.