A Best Practices for Agency Operations Webinar.

Many agencies financially focus on one thing, the income statement. While profitability and growth are very important, you can't forget the balance sheet. 2020 has been anything but normal and put many agencies in a cash pinch; they've had to consider how much working capital they have and ultimately need. 

Being a Best Practices Agency means knowing your numbers. To truly know your numbers, you have to know how much working capital your agency truly has. That means enough CASH to sustain the agency's operations.

RD Advisory Group presents a free on-demand webinar that can help walk you through what you need to know as their advisors encourage agencies to build financial awareness that incorporates the agency's balance sheet. Because you can't rely solely on a bank statement to measure your cash position and it's not profitability that put's agencies out of operation… it's cash. See all webinars here.

Every producer in the agency should have a written, signed contract with the agency, which

serves as the basis of the business relationship. The contract defines the ownership of the

business produced, and the responsibilities and obligations of the parties, and it also provides

the agency with legal recourse to discourage piracy of produced business. Contracts can both

negatively and positively affect the value of an agency. The Guide to Producer Contracts can help.