Exceptional Leadership as a Driver of Agency Value
BroadStreet Partners℠ CEO Rick Miley is frequently sought out by the media for his expertise on the changing independent agency landscape. Leaders Edge Magazine this month interviewed Miley and other industry leaders on the topic of agency valuation.
In one section, Rick speaks about the critical importance of leadership throughout an agency: “We spend a lot of time assessing the depth of leadership across the agency’s functional areas, not just the executive team. When we see leadership depth, we know there is a respect and appreciation for the value of the people who do the important work of the agency.”
“Customers trust the stability of the agency, associates trust their colleagues and we know we’re investing in a high-performance agency that we can trust. So for us, where there is leadership depth, there is value. We’ll have a bias toward paying a higher multiple for it.”