By Rick Dennen, CEO, Oak Street Funding
Today's insurance market can turn quickly–especially in an uncertain economy–so agents and brokers should be prepared with a firm grasp of their business's cash position. Cash flow drives short-term decisions like supplies, rent and payroll, and long-term decisions such as marketing, hiring and expansion.
As an agency owner, you need to take proactive steps to manage your cash effectively. Start by creating an effective budgeting and forecasting model. It will enable you to run your agency more efficiently, better deal with roadblocks and capitalize on emerging opportunities.
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