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The "How-to" Book:
A Practice Management Guide
Developing a Business Plan Human Resource Management Facilities & Equipment Financial Management Business Continuity
The Business Plan
Contents
What is a business plan?
Forms of doing business
Sole proprietorship
Partnership
Family partnership
C Corporation
S Corporation
Limited Liability Company
Business organization comparison
Strategic planning and marketing
Mission and goal setting
Marketing
Carriers/Suppliers
Sales production
Financial projections
Positioning the firm
Costs of doing business
Budgeting process
Accounting
Business relationships
Types of agent/producer relationships
Types of agents
Housed in an agency
Detached agent
Hybrid arrangements
Joint practice and affiliations
National "agent networks"
P & C relationships
Banks
Sources of income
The bottom line
Public relations and promotion
News release
Promotional tools
Direct marketing
Radio and television
Advertising
Media comparisons
Sample documents
Home > Developing a Business Plan

The Bottom Line

How you do your business, with whom you do your business, on a profitable basis is the true financial bottom line.

All of the various forms of business organization that we have discussed have pointed out the opportunities and potential pitfalls of changing the way we operate from the traditional agent/general agent relationship. Regardless of the operation that best suits your needs, it is important to remember that what falls to the bottom line, your personal financial bottom line, is one of the most important aspects of choosing a different method of operating from the one your currently enjoy. Make sure you are making the right decision for all the right reasons.

In the development of your Business Plan, it is vitally important that you address the issue of “balance in your life.” This includes a priority to your family, community, health and spiritual life. This would encompass the Million Dollar Round Table philosophy of the Whole Person Concept. For more details please review the Whole Person manual produced in 1991.

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