Accounting – Unstoppable Profit Podcast

Episode 256: Connecting the Dots in Your Agency with Agency Pointe

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Today, we’ve got a powerhouse lineup giving you the inside scoop on maximizing your agency’s value and operations.

Carey Wallace, Chris Paradiso, and Aaron Stocks break down the importance of specialized legal expertise in your business transactions, while leveraging outside skills in accounting and payroll to sharpen your agency’s focus on what it does best. We jump in with financial insights that could be the key to boosting your agency’s evaluation and stressing the imperativeness of proper planning.

What’s more, we’ll introduce you to Agency Point, a game-changing platform that consolidates essential services like law, technology, and human capital uniquely designed for insurance agencies. Say goodbye to vendor juggling and hello to streamlined, industry-specific support.

Get ready for a wealth of strategies and stories that will inspire savvy decision-making and proactive growth in your business. This episode is packed with years of wisdom, all aimed at helping you avoid mishaps and keep your agency thriving.

Highlights:

Small business owners lack financial and business training.
Bookkeeping and taxes differ, impacting business costs.
Consistency in financials prevents potential profitability discount.
Issues with trust accounting, inflating numbers, reconciling.
Commission reconciliation is crucial for insurance agents.
Ensuring appropriate agreements for agency transitions is crucial.
Outsourcing can enhance business growth and efficiency.

About Agency Point:

Bookkeeping for the Independent Insurance Agency.

At AgencyPoint, we understand that keeping your independent insurance agency’s finances in order can be a daunting task. That’s why we offer expert bookkeeping services tailored to your specific needs. When properly using your Agency Management System for bookkeeping, we can provide you with the tools and insights necessary to make informed decisions for your agency.

With AgencyPoint, you can rest assured that your finances are in capable hands, allowing you to focus on what you do best: running your agency. Contact us today to learn how we can help you achieve your financial goals.

https://www.myagencypoint.com/what-we-do/bookkeeping

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)!

Episode 165: People Do Business with People with Andrew Wynn

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With a mission to modernize insurance’s financial infrastructure, Ascend’s co-founder, Andrew Wynn, joins me to discuss not only how Ascend can help you grow your business and create wealth so that you have more freedom, but they are also going to give you more freedom. Whether or not accounting is your strong suit, this episode will help you discover the efficiencies you need in your business today.

Key Takeaways:

Discover how Andrew and his partner, Praveen, got into marketing to insurance companies to help agencies focus on the client and not worry so much about the infrastructure like accounting and payments.
With the advancement of technology, we started investing in carrier-focused tech and perhaps have gone too far with all the insurtech companies
As the capability grows, consumers don’t want to buy insurance from a computer but instead from a person who is going to be enabled through technology.
Companies are shifting their direct bill to Ascend because they want to own that customer expense and receive commissions earlier
When the sale is ready, make it as frictionless as possible to complete the transaction
Traditionally insurance has been a virtual product sold in a physical building and it does not need to be that way.
When you’re myopically focused on the little parts of the business, you sometimes forget the bigger picture.

About Ascend

Ascend is founded by two-time insurtech entrepreneurs, Andrew Wynn, and Praveen Chekuri, who built a home maintenance startup called Sheltr, which provides homeowners with routine preventative maintenance service and diagnostics to offer data-driven proactive care to catch issues before they become costly repairs. The company became the first acquisition made by insurtech unicorn Hippo because of its intuitive and technological approach to building an insurance product that went beyond the customer interaction. Prior to Sheltr, both Andrew and Praveen were employees at Instacart, leading the company’s product and data integration teams.

https://www.useascend.com/

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

Email [email protected]

Episode 144: YOUR Numbers Don’t Lie with Aaron C. Stocks

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You have heard me say many times that your numbers don’t lie and for the first time ever I am bringing you the guy that will demonstrate just how important that statement is.

This week I am excited to introduce you to Aaron C. Stocks. Aaron is the founder and President of Professional Financial Solutions and his company focuses on accounting with the independent insurance market. Listen as we discuss all things financial from your start-up accounting to knowing your bottom line and even hiring practices. This is the episode to listen to whether you are just starting your agency or a seasoned professional.

Highlights:

Aaron’s foray into the accounting field and even his tenacity to keep learning and improving
An exploration of trust accounting
Developing the norm of reviewing monthly financial statements and how they should be the standard for every company even though they are not
The three major issues that agencies are faced with when it comes to accounting
The ROI on getting your financial accounting together at the beginning and especially even for seasoned agencies that may have multiple locations
The impact of acquisitions and financial accounting that goes along with that
Aaron explains why his company moved to the Always Be Hiring methodology for recruitment and the strategies he uses for hiring.
Adding international staff to the mix and the benefits that it has proven

Resources Mentioned
Sign up for virtual training at http://uppfaststart.com

Become Unstoppable: http://beunstoppablebootcamp.com

About My Guest:

Aaron C. Stocks is a founder and current president of Professional Financial Solutions. Aaron has over ten years of diversified experience with concentrations in financial controllerships, management advisory, cost accounting, growth strategy, bookkeeping technology, insolvency, reorganization, financial projections, and operational management.

https://www.pfsaccounting.com

[email protected]

909-294-7372

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]