- David was a very close friend whom I hadn’t visited with in years. We spoke by phone for an hour on Wednesday Aug. 3, 1994, and committed to meeting for lunch on Monday of the following week. David was murdered that Friday while hiking in a national forest in Arkansas. What were the odds?
- The best producer in the agency was assumed to be the most “natural” person to lead in the future. Unfortunately, great producers are often not good leaders or managers, and their best value for the agency is almost always in production and not management.
- Often a #2 person is great at #2 but not worth a whit on the front lines of #1. But once they “move on up” it may be impossible to move them out.
- Absent formal succession plans implemented immediately, an owner’s death will invite a swarm of competitors ready, willing and able to consume in months the client base and talent it took you decades to grow!
Agency Succession Plans: Do It Now!
When an owner dies, becomes disabled, disappears or loses the ability to lead effectively, the best insurance can be a succession plan.