by Mike Stroman The phone is ringing. Someone is at your office door. Your bookkeeper needs to review receivables and payables with you–today! You need to do three things at once, but there’s only one you. Oops, make that four things—now a marketing rep from your largest carrier just arrived unexpectedly. Who’s first? Usually the loudest, most demanding person gets your attention first, even though odds are that they are not the most important. But who is most important? Even though people are your business, a better question may be, “What is most important?” Income? Profit? Growth? Long-term value? Cash flow? All of . . .
by Mike Stroman Myopic adjective my·o·pic | \ mī-ˈō-pik , -ˈä-pik \ 1 : A medical term for having a condition creating nearsightedness. 2 : A business term for being short-sighted and/or narrow minded : the opposite of having vision. Some business owners confuse being myopic with having a strong business focus. But focused business owners have their eyes on the prize, while remaining aware of other conditions in the market so they can identify opportunities as they present themselves. Myopic business owners don’t consider anything beyond the walls of their office. In order to run a business with excellent . . .
by Mike Stroman Twenty years ago, that answer would have been an agency that provides both Employee Benefits and Property & Casualty coverages. This all-encompassing business model keeps out the competition. Unfortunately, that’s where most agencies stopped innovating. They’re stuck in the past. Today’s world of client Risk Management is more complex, and more thoroughly litigated than ever before. Businesses expend significant chunks of management and administrative time just trying to meet Payroll, Human Resource, and Compliance requirements. This is time needlessly wasted, and risky to boot. This has also provided unprecedented . . .