If you’re thinking about selling your insurance agency, you’re about to take a monumental step in your life. It’s something that shouldn’t be taken lightly, as you’ll want to make the process as easy as possible, plus be able to get the most money out of the sale. Without insurance agent consulting and taking the proper steps to prepare, you could be left with a very unsatisfying experience. Let’s take a look at some common mistakes that are made.
Not Working with the Experts
Working with those who have a lot of experience with the sale and purchase of insurance agencies will provide many benefits to the sales process. Without the help of an insurance consultation practice, you could be exposing yourself to many potential issues. You could end up settling for less than what your agency is truly worth or set yourself up for too much risk post-sale.
Not Planning an Exit Strategy
This is not something you should do on a whim. If someone starts asking you about selling your business, don’t do it. You need to have a plan in place. Without that preparation, there’s a very high chance you won’t get the deal you should be getting. It could ultimately even just be a giant waste of time. This is something you should be planning for years in advance.
Selling at the Wrong Time
This ties into the planning stage of the sales process. If you know you will be selling within in a few years, keep an eye out on the market. Picking the best time will have a large impact on the transaction. If you are uncertain about the outlook of the market, having a consultation with an insurance agency consulting firm will provide a lot of useful insight.
Looking for Insurance Agent Consulting?
The best way to avoid common sales mistakes is to use an insurance agency consulting practice. At Energia Consulting Partners, we want your sales process to be as easy and stress-free as possible. We’ll help you with every step of the transaction. Contact us today to get started.