Reinvented My Business

An insurance agency owner’s revenue was holding steady at $250,000 even though he was bringing on new clients. His staff was making more than him. He had no marketing strategy and just purchased the one his carrier offered (he did not even know what they did for $1,500 a month). He had no internal system in place. Had 1 staff member that was not licensed and could only do service work. He wanted to purchase other agencies to grow his business but was also thinking about selling his agency and working for someone else. He has not taken a vacation with his family in 7 years. Never looked at his financial statements-did not know his expenses or any of his numbers. Did not know who his target market was and was marketing to everyone.

In 4 months:

• His employee was fully licensed to sell insurance.
• Purchased another agency and brought their 2 fully licensed staff into his agency.
• Got a new CPA and we showed him how to read his financial statement and make better business decisions based on his numbers.
• Reduced his expenses by 50%. Found he was paying for services he was not even using.
• Installed KPI trackers, so his staff knows what is going on. Which increased production 39%.
• Brought on 2 outbound marketers, which brought in 10 new clients a week.
• Created incentives for all his staff based on individual and agency performance and production.
• Book his family vacation.
• Installed a solid marketing strategy and complimented the one he was paying for.
• Targeted his true target market with proper verbiage and marketing.

His agency was now posed to purchase more agencies to grow through acquisition, but the agency was growing through internal efforts. He was now able to take a more suitable salary out of his business and go on that family vacation. Never thought about working for someone else and really enjoyed going into the office every day. Revenue and profits started coming in a lot easier than before and he was opening a retirement account.

QUOTE: “I cannot believe that this is the same agency. We are now starting to run at peak performance. I know my numbers and make better business decisions based on them. My staff keeps impressing me with production and teamwork. My wife is so happy that we are going on a family vacation. Thank you, Steve, for turning my agency around.”