The most important decision an agency owner can make is to identify the agency’s marketplace position. It is difficult for even large agencies to successfully be everything to everybody. The entrepreneurial spirt of many agency owners adds an additional difficulty because they often do not want to say “NO” to any opportunity. Even successful, talented agencies often rise to their level of incompetence if there is no discipline in this area.
Over the past 20 years, the professionals at Nohre & Co have assisted many agencies with their strategic and business planning. Often, an outside consultant can play a valuable, objective role, working with the ownership group and senior management team to develop, fine tune, and implement a successful strategic business plan.
- Identified and developed strategies, materials, resources, processes, practice aids, and a wealth of experience that can assist agency owners, regardless of their stage in the agency life cycle.
- At Nohre & Co, we believe the lack of meaningful business planning is one of the leading causes of agency consolidation. We help our clients develop and implement solid, effective business plans. We facilitate insurance business planning sessions annually, developing a focused process to address the challenges and questions that our clients face.
- An effective business plan addresses organizational, operational and “people” issues. Our step-by-step process begins with a thorough discussion of internal strengths, weaknesses and external opportunities/threats. We concentrate on your agency’s structure, culture, financial position, operational metrics, leadership and personnel.
- As the process moves forward, you will get an increasingly clear view of the “today” status of your agency. This leads to focused discussion with your Nohre & Co consultant about your agency’s future. Quantifiable strategic and financial targets are defined and prioritized, and we’ll make sure you’re keenly aware of the risks and the rewards associated with your decisions.
- Building the plan is important, but implementing it is what truly matters. Nohre & Co will help you develop a strategy that includes action steps, consistent communication, timetables and accountability. Nohre & Co can also aid in monitoring the process and help you make prudent adjustments to your business plan as internal and external factors change.
There are usually obstacles standing in the way of implementing any improvement, including history, personalities, culture, family, finances or others, and a customized solution is needed to implement the change effectively while creating as little disruption as possible. This is where an objective, experienced, industry consultant at Nohre & Co adds value.