Best Practices agencies understand how important it is to work on their business—not just in it. The newly released 2017 Best Practices Study Update can provide insight you can use to more effectively understand your agency’s value and the opportunities you may be missing for improving operations.
Every year since 1993, the Big “I” and Reagan Consulting have released the Best Practices Study, which surveys the best-managed and highest-performing agencies across the U.S. The research enables agencies to isolate by six different revenue categories and compare metrics on growth, revenue per employee, sales velocity metric, mix of business, Rule of 20, employee productivity, revenue distribution and more.
This year’s update also includes a report on agency perpetuation and the merger & acquisition landscape, as well as information about how Best Practices agencies respond and thrive in today’s environment.
Watch this short video to hear how Chris Van Abel of VAST Agency in Marquette, Michigan uses Best Practices information internally. You can also benefit from the experiences of the current group of agencies. Review the benchmarks, test the formulas, determine your operation level and develop your agency performance dashboard. The time you invest will be well worth your while.