Six life stages to any established Insurance Broker
There are only 6 life stages to any business. Often the two most important stages are left under-explored, these are Growth and Prepare. As a result, the Event stage leaves unrealised opportunities for the buyer to take advantage of. This means that your staff can be left feeling unfulfilled, and cash that should be in your pocket, remains with the buyer. Miss these two vital stages at your peril.
Critical Friend Partnership will work with you to ensure you do not miss out on any opportunity along your journey.
Stage 1: It’s frantic, you typically chase everything to survive
Stage 6: Crystallise the asset, pass the business onto the next generation or sell it
Stage 5: The most important stage that most do not do. Getting the business ready for ‘The Event’
Stage 2: You pause, you’ve got a business, now you need to recruit some help or move to Maintain
Stage 3: The most difficult stage - You achieve double digit organic income growth, year after year
Stage 4: A business that funds a lifestyle. It feels comfortable and cosy
- Start Up
Stage 1: It’s frantic, you typically chase everything to survive
- Established
Stage 2: You pause, you’ve got a business, now you need to recruit some help or move to Maintain
- Growth
Stage 3: The most difficult stage - You achieve double digit organic income growth, year after year
- Maintain
Stage 4: A business that funds a lifestyle. It feels comfortable and cosy
- Prepare
Stage 5: The most important stage that most do not do. Getting the business ready for ‘The Event’
- The Event
Stage 6: Crystallise the asset, pass the business onto the next generation or sell it
At every life stage there are opportunities, challenges and hurdles.
Critical Friend Partnership will help you along every step of that journey, whether you find yourself:
- with a lack of new clients
- run off your feet with no time to spare
- not knowing which way to turn or path to choose
- with people challenges
- with a lack of financial resources
Uniquely, Critical Friend Partnership is able to operate as both a Non-Exec to your business and an exclusive consultancy service in a collaborative manner. It seeks to understand before providing guidance. It provides easy to implement and proven best practice to mitigate many of the challenges; insight to grasp the opportunities; support to assist with execution and to have some fun along the exciting journey ahead.
