The Mitten High Fives OK YAC the Final Chapter
Then we wrapped up our presentation with a conversation about the transitioning phase we went through with Bob Meiers. This can be pretty tough on the prior owners as they have worked for years to build their business and create and maintain numerous relationships. We explained how important it is to keep open lines of communication so that no one feels left out. Being sensitive to all of the emotions on both sides of the table. The prior owners selling their agency and taking a step back or being completely done and the new owners who are getting their feet wet and moving forward. We also talked about being patient with each other which is easier said than done at times and we by no means were perfect. I’m sure there were times when Bob Meiers was furious at us and vice versa but I do think all of us did a pretty good job of working through all of the emotions. At times this is really hard for both parties and it happens at different times in the process for both sides.
From our experience the prior ownership had much different priorities than we did and that doesn’t make it bad or wrong. They were at a different period in their lives than Will and I were and are currently. They were headed to retirement and we were headed into buying the business. We wanted to take what they had built to the next level. I’m sure when we are at that time in our lives we will feel the same way, right? J
We have taken a lot of time learning the processes and procedures and had looked for ways to improve on efficiencies and streamline some procedures. Branding and social media were big priorities for us. We wanted to reintroduce our team to the local area. We wanted to create an experience when clients and prospects who do business with our team and maintain a high level of serving our clients that they were used to under the prior ownership just enhanced.
Lastly, we spent a bit of time talking about getting involved at the local, state and national levels. If we didn’t get involved we wouldn’t be speaking there, we wouldn’t have the mentors and friendships that have come from being involved and our business wouldn’t be where it is today without the help, expertise, and guidance of others who were willing to share with us. Depending upon who you buy the agency from and how the sale goes don’t ever forget to reach out to the prior ownership too. They realize and understand or can at least relate to the things you are going through at most points of ownership. We also wouldn’t have created the relationships we have with our current carriers and the opportunity to bring on additional carriers that we had the opportunity to meet and get to know at industry events.
We can’t thank the OK YAC enough for inviting us out to their beautiful state to speak! We had a fantastic time!