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For The Manager: Be sure to budget for new producers

WHAT IS your budget line item for "New Producer Expense"? Agencies have line items for charity, postage, autos and many other expenses. But few consider the cost of new producers. Any agency wishing to grow or perpetuate itself needs new producers.

By Chris Burand | Updated on January 31, 2005

WHAT IS your budget line item for “New Producer Expense”? Agencies have line items for charity, postage, autos and many other expenses. But few consider the cost of new producers. Any agency wishing to grow or perpetuate itself needs new producers. Without them, what is an agency’s future?

If you don’t have a line item for new producers, is it because you don’t plan to hire any? Or are you planning to use your cash reserves to cover the cost (assuming the agency has cash reserves, which most don’t)? New producers cost money, which has to come from somewhere!

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