Strategic Planning
For the Record, a BISM Online contribution from MarshBerry

Mike Kish is a Vice President of Marsh, Berry & Co., Inc., a Willoughby, Ohio based management consulting and investment banking firm for public and private insurance distributors.






Website: www.MarshBerry.com

As we approach 2008, strategic planning is critical to ensure future success. If nothing else, the private equity movement of the past twelve months illuminated two imperative factors that all agency and broker owners must implement. First, like any asset acquisition, individual owners must quantify the overall purpose and strategy of their investment by documenting the desired time horizon and the return expectations. Second, shareholders must clearly defi ne annual success metrics relative to their investment strategy. Whether growth, earnings or effi ciencies, owners need to quantify internal success in order to measure, monitor and improve performance.