What are Your Options: Internal PerpetuationFeb 08, 2016
One of the really great things about owning an independent insurance agency is that you are Independent! You can and do make choices every day that affect your agency’s performance and success, both in the short-term and long-term. In other words, you have options and you’re exercising them, some more purposefully than others.
As we look forward to 2015, now’s a great time to examine some of the options you have concerning the future of your agency.
Option Six: Internal Perpetuation
If you’ve been building the next generation of leaders and they’ve been purposefully putting money away for the transaction, that’s great! You’ve helped perpetuate the entire system!
Again in this scenario, you are likely to be the bank, but do you have the faith that they can make it work and will pay you? If so, then this is a feasible option. As long as you have been developing the next generation of leaders in your agency, they should be established enough to easily make their debt-service payments to you and successfully run the company.
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