lead into the future
whether you're planning to compete for the next 20 years or transition your agency in the next few years, perpetuation planning is key to setting up your agency for success in the future.
Safeco's Agent for the Future™ survey revealed that IAs are increasingly hiring millennials, focusing on growth and investing in digital innovations. These strategies contribute to perpetuation planning by adding to the valuation of the agency.
what's your exit strategy? there are two main methods of agency perpetuation
external: selling to an outside buyer
internal: handing off or gradually selling to a family member or internal successor
most agencies want to perpetuate internally...
plan for children or other family members to take over
plan for other principals to buy out the principal's interest
plan for an outside party or organization to buy out the principal's interest
a growing agency is more attractive to buyers or successors. here's how IAs plan to grow
new lead sources50%
adding new producers50%
new digital capabilities
increase marketing investment38%
new market segments31%