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We anticipated it for years, and it’s finally here: the dreaded hardening market. Anticipated as a gradual swing taking place during a 36-month period, this market accentuates the leadership vacuum in our industry.

While we acknowledge there are sophisticated agencies in the marketplace, they are more the exception than the rule. Ours is a small business industry, which typically signifies a business with little structure. These agencies do not have detailed marketing and business plans, do not follow sales processes, have not created business budgets and take orders rather than selling products. Most have an inventory of nine coverage lines to sell, yet they only offer three. These agencies provide what the customer asked for rather than selling additional value. 

Related: Read a previous column by Tom Barrett “NU Waves.”

So why do we think we have a vacuum in the leadership of our industry? As agency team leaders, we owe more to our team members. And if you haven’t heard, beware: Commissions will begin to decrease. After a decade of a soft market where we have been underpaid and overworked, we’re about to get hit with a double whammy. 

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