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Greetings!
Are you still hanging on despite the wild ride we are all facing?
Since the fall of 2008, the
economy is still reeling from the continuous hits to the head. The
slump is taking a toll on businesses of all kinds around the country.
All of our clients are feeling the impact, some more than others. It
seems everyone is taking a wait and see attitude.
The urban
legend that the Chinese character for chaos also means opportunity is
still a nice metaphor to learn from (even if it is not a fact).
It is
true, however, that in nature a new (revolutionary) creation comes
after the old entity "dies." A butterfly pops out of a chrysalis that
the caterpillar entered. Suddenly, an entirely new species is formed
from the ingredients of its former life.
Businesses can
follow the same process of an entirely new creation developing from the
remnants of an old concept.
Take advantage of the current chaos to
re-create your business model. Create ways to "recession-proof" your
business. In these turbulent times, people are willing and open to
accept radical change.
Exploit this current mind shift. Turn lemons
into lemonade and seek opportunity from the chaos.
You will find great ideas in this issue of Oak Leaves that you can put to work in your agency today.
Call us at (707) 935-6565 for a free 30 minute review of the key issues you are facing.
You can also email Bill or Catherine.
Find out more about our Extreme Agency Makeover and Sales Manager Coaching program by visiting our website.
We, at Oak & Associates, are committed to your success!
Sincerely
Catherine Oak, CIC, CRM, AAI
Founder
Oak & Associates
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Webinars 
Join us for our webinars!
Keep up on the topics you need to know, now!
During April we will be offering 2 free webinars.
Producer Vesting Basics
What works and does not work when it comes to producer vesting or equity.
April 14, 2009
12:00 PM Pacific
Agency Value
How much is your agency worth? Find out the key elements to agency value and what are the current trends.
April 29, 2009
12:00 PM Pacific
Our ongoing webinar training series is a great way for busy agency owners to learn more about issues impacting management and ownership.
This online consulting is a great way to have your own personalized expert consulting at an affordable price.
Each month, we will cover 2 topics on agency management and ownership issues.
Membership is only $100 per month!
Click here to find out more!
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WEBSITE DESIGN
Is your website always
under construction?
Never up to par with
your competitors?
Make sure your website reflects
the best side of your agency!
Have Oak & Associates
CREATE A CUSTOM WEBSITE
for your business at an affordable price!
Contact us today to find out more!
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| Quick Links |
Our Website
Oak & Associates
PO Box 2047
Glen Ellen, Ca 95442
(707) 935-6565
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Featured Article
Hit the Reset Button
on Your Business!
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The Art of Restructuring Your Business
By Catherine Oak and Bill Schoeffler
If you could do a Mulligan on your business, what would you do?
Right now is the best time to redefine your agency. There are three areas to focus on when you hit the reset button; leadership, streamlining operations and your customers.
Be the Leader
It is tough out there. Hard choices will have to be made. Having a clear vision of the "facts" is imperative. This will mean getting some input from outsiders (consultants, CPAs, board members, friends, employees, etc.) Take off the rose colored glasses and put on the green eyeshades.
Concentrate your effort on the things that are under your control. Accept the things that are out of your control. It is a waste of time and resources to try to change or fix things you cannot control.
Begin by focusing on the fundamentals of your business. The primary steps should be to cut expenses and maintain or increase revenue. Next, take action to develop new ways to do business. All the rules have changed. Becuase uncertainty is the only thing you can rely on in the current economic state, you must radically change your business. Not only will these changes be accepted, but also encouraged.
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Oak & Associates' Seminar
Extreme Agency Makeover &
Expense Control in Troubled Times
At this seminar we will cover:
- New Economy
- Leadership
- Cutting Retention
- New Sources of Income
- Cross Selling
- Brainstorming Meetings
- Getting Rid of Dead Wood
- Lowering Staff Costs
- Improving CSR Productivity
- Systemizing Your Business
- Financial Analysis
- Budgeting
- Pro Forma Analysis by Live Items
- The Use of a Rosetta Stone
Join us at one of our next O&A Seminars:
Extreme Agency Makeover
&
Expense Control in Troubled Times
- April 28, 2009 Emeryville
- April 30, 2009 Stockton
- May 14, 2009 Pasadena
Call Oak & Associates at (707) 935-6565 to find out more. You can also visit our website by clicking here.
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Today's Benchmark
Commercial Lines Producer
Sales Production & Compensation
The following are guidelines for sales performance and compensation standards for CL producers.
Years of Annual Book of New
Experience Compensation Business Sales
1 to 2 $50,000 $125,000 $40,000
3 to 5 $75,000 $190,000 $65,000
.6 to 10 $115,000 $300,000 $75,000
10+ $150,000 $350,000 $60,000
A new producer should be able to handle a small book of business and seek out new sales simutaneously. It is helpful to pass on some accounts to other coworkers during this period. However, make sure they are not all small accounts or problem accounts. That could create obstacles which would interfer with new business sales.
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Top Ten Lists
Top Ten Industries To Thrive in Today's Recession
Not all businesses are suffering the economic turn down. If you are losing business because your clients are downsizing or going out of business then you need to find new clients.
Here is a list of ten industries that are actually growing. Look to these businesses to develop a new niche for your agency.
- Professional and Business Services - These would include accounting, consulting and small home-based services for businesses.
- Health Care and Social Assistance - Health care is going be be the focus of the federal government for years to come.
- Leisure and Hospitality - Despite the poor economy, people still will find a way to spend money to escape.
- State and Local Government - These is clearly obvious based on all the recent news.
- Educational Services - People are looking for new careers or gaining knowledge to give them an edge.
- Environmental Industry - There will be a lot of green being made as people rush to be seen as being green.
- Security Services - The bad guys are always coming up with new ways to steal from you, so the good guys need to respond.
- Online Games - Technology is moving away from CDs and DVDs to all online. Games for the kids and gambling for adult is a huge business
- Movies & Entertainment - People love to escape their woes. 2009 is off to a great start in movie ticket sales
- Discount Retail - When it comes to buying the necessities, people will look for discounts.
Look at businesses within these industries as your new source for prospects. Create a new niche to help your business grow.
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