Thinking like a potential buyer can be uncomfortable under “normal” circumstances. We are definitely not in a normal world right now, so our concept of a home’s or business’s value has changed dramatically. Yet, potential buyers still look at a business as a function of cash flows and risk.

The global impact of COVID-19 introduces many new challenges for business leaders trying to increase the value of their agency. One key aspect is the impact on the agency team.

Focus on three staff issues in this period of uncertainty: staff retention, second-tier leadership team strength, and brain drain. Your capability to generate results once the uncertainty has lifted will be a function of a strong agency team.

New questions to consider: What actions can you take to retain your key team members that increase agency value? In this period of disruption, what opportunities are there to increase the capabilities of your team?

Next steps: Create an action plan to strengthen your agency team in the weeks ahead. A stronger team results in a more valuable agency.