January 25, 2025

Episode 285: The BIGGEST of your Big 3 Marketing Strategies

45 minutes

Guest host Joel McKinley puts Mike Stromsoe in the hot seat for an in-depth exploration of insurance agency acquisitions. Mike delves into his extensive experience, highlighting how acquisitions form a critical part of a three-pronged strategy to grow an independent insurance agency. He shares insights from his first acquisition just three years after founding his agency in 1998 and emphasizes the importance of having the right people, processes, and strategies in place.

Listeners will benefit from Mike’s detailed discussions on the importance of due diligence, ensuring cultural fit, and the significance of financial planning for maintaining growth post-acquisition. He covers vital aspects such as getting non-disclosure agreements (NDAs) signed early, understanding the motives of potential sellers, and assessing the strategic alignment of acquired clients. Mike also provides a deep dive into financial considerations, including cash flow management and dealing with various lenders while highlighting the need to protect and nurture agency culture throughout the acquisition process. This episode is packed with practical advice and strategies for insurance agency owners looking to leverage acquisitions for rapid and sustainable growth.

Highlights:

Mike shares the story of his first acquisition in 2001, explaining how early growth set a strong foundation for his agency.

He reflects on lessons learned from four unique acquisitions and how each experience shaped his approach.

The importance of cultural alignment is emphasized, ensuring acquired agencies fit seamlessly with your vision.

Financial planning is key, with a focus on retention, cash flow, and sustaining growth after an acquisition.

Integrating technology systems like CRMs and AMS can be tricky but critical for long-term success.

Crafting a strong case to stand out as the best buyer in a competitive market can make all the difference.

Projected retention rates are broken down, showing their impact on the financial health of an acquisition.

Financing strategies, from self-financing to bank loans, are explored with practical advice.

Mike stresses involving CPAs and attorneys early to avoid costly missteps during the acquisition process.

Mastermind: How To Double Your Insurance Agency’s Growth In 2025 Without Doubling Your Workload

Tuesday, January 28th TIME: 9:00am PST

In this high-impact masterclass, Mike will reveal:

Big mistakes that slow agency growth.

How to build a strong team and simplify your operations.

Proven strategies to attract great clients and keep them.

Systems to lower stress and save time for what matters most.

This isn’t just about working harder—it’s about working smarter. If you’re ready to achieve big results without doubling your workload, this session is for you. Don’t miss your chance to learn directly from Mike Stromsoe and gain strategies to transform your agency for 2025.

Reserve Your Seat Today: https://bit.ly/Masterclass-01-2025-E

Until next time, get out there and make a difference, be unstoppable, and leave no regrets!

Mike Stromsoe

The Unstoppable Profit Producer

Call 800-770-9984

Email: [email protected]

Website: http://unstoppableprofitproducer.com/

Virtual Events: http://www.uppfaststart.com/

Podcast: http://unstoppableprofitpodcast.com

If you want to learn more about our Coaching & Mastermind Programs and how they can help you grow your agency business, schedule your private Agency Growth Session with Mike Stromsoe Now (click here)!

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