From Adversity to Prosperity
APPEX Partners:
In the spring of 2010, MarshBerry hosted APPEX at the Swissotel in Chicago. The theme of the event: “Conquering Adversity”
Most APPEX Partners were facing double digit rate decreases and shrinking risk exposures. The average APPEX firm ended the 2009 fiscal year end with revenues down 1.7%. Profits were depressed, and the focus of the Spring Summit was around business survival with a message around staying committed to the business plan despite shrinking profits and distressed balance sheets. For the first time in a long time, agency valuations went backwards. Fred Eppinger, the CEO of Hanover, gave a presentation entitled: “Surviving in one of the Harshest Business Environments Ever”.
Five years later, we return to the Swissotel in Chicago, coming off a 2014 fiscal year that produced the following results:
Average organic growth rates of 8%, the strongest growth year since 2007
The highest EBITDA margins since 2007 with 60% of the industry reporting higher profitability over the previous year
An optimistic view from agency leaders moving into the new year
Economic indicators driving a forecast showing increased growth rates into 2015
The mood of the industry has shifted from adversity to prosperity. Most firms were not flush with cash, balance sheets were slimming, and most firms did not have the necessary capital to invest in growth. Now, valuations are up considerably and economic conditions have helped produced strong growth. And, while circumstances have changed, five years later our message remain consistent:
Organic growth in and out of cycle is heavily dependent on the firm’s ability to consistently produce 18-20% new business as a percentage of prior year commission and fees.
Despite a year that produced record organic growth rates for the industry, new business performance has not improved. In conjunction with the advisory council, both the spring and fall 2015 APPEX Summits will focus on Building a Growth Machine that produces consistent, sustainable, profitable organic growth.
Who knows how long prosperity within this industry will last, but now that the economy is producing growth and profitability has improved, there is no better time to invest in a machine that can produce results when adversity rears its ugly head again.
Keynote Presentation
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Conquering the Seven Summits of Sales
Presented by Susan Ershler, history-making mountain climber, business executive and bestselling author
Is
your sales organization achieving its true potential? What strategies and
techniques would transform your sales team into a dynamic force for revenue
growth and customer satisfaction?
For
two decades, Susan Ershler rose through the ranks of sales leadership while
simultaneously climbing the highest mountain on each of the seven continents.
Now, her mission is to help others secure the financial rewards and personal
fulfillment that come with being a top performer.
In
this presentation, Susan shares the Seven Summit principals that every sales
professional must master to consistently achieve top performance year after
year. She describes the Project • Prepare • Persevere® methodology that enabled
her to lead her sales team to achieve a seemingly impossible $300M revenue
goal. She also provides practical techniques for overcoming real-world sales
challenges and blowing away the numbers. Attendees will walk away inspired to
excel and ready to meet Everest-sized revenue objectives.
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Educational Breakout Sessions
Talent Acquisition Track
Presented by Art Betancourt and the MarshBerry Recruiting Team
Building future growth starts with hiring today. An engine that can continue to produce new business on top of net growth needs to be fueled by systematic hiring. The spring summit will feature three breakout sessions centered around Talent Acquisition - Recruiting 101, How to Find Talent, Creating a Talent Scorecard will give you an overview and introduction into strategies on how to find, recruit, and compensate the next generation of sales talent.
Sales Management Track
Presented by Nick Kormos and the MarshBerry Sales Management Team
Sales Culture Development is a continual process and ultimately needs to be huge part of your business plan. MarshBerry’s Organic Growth consulting team will be providing significant insight around the Best Practices of High Growth agencies. These sessions will include content on Running Effective Sales Meetings, New Producer Onboarding, and answering the question, “Should My Agency Have a Sales Manager?”
PINnacle Society Awards Dinner
In order to recognize the highest performing agencies in APPEX we would like to dedicate the Wednesday night reception/dinner to the PINnacle Society members. During this reception/dinner we will honor the current PINnacle Society members, celebrate the newest incoming member as well as recognize the other APPEX award winners. Please join us on Wednesday evening for this exciting event.
Finally, we would like to extend an invitation to each of you to bring along your guest/spouse. Guests will be invited to attend the Wednesday General Sessions, Wednesday evening PINnacle Awards Dinner, and offsite SIG dinners (for an additional charge). We will also be holding an optional golf outing on Monday and Tuesday before the summit for anyone who is interested in arriving early. Please contact Jessica Stogran if you have questions about either of these options.
To access the full agenda and registration information, please click on the links to the left. Early bird registration runs through March 27, so register early to receive the discounted registration price and guarantee discounted hotel accommodations.
We will see you in Chicago!!
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