This post is part of a series sponsored by Old Republic Surety.
Dan Pope, Senior Vice President of Underwriting at Old Republic Surety, learned a lesson as a young attorney to be sure about the numbers that matter most to a client’s business.
Profit and loss aren’t the only numbers companies use to determine success, young Dan Pope learned when he first started in the securities business. Bringing his best financial analysis to a good client with the idea of helping that company improve its P&L by eliminating the loss leader category, Pope, now Senior Vice President of Underwriting at Old Republic Surety, was treated to a Christmas lecture by veteran business owners. he is not forgotten.
The construction company was well aware that this unit was a financial albatross, but—as Pope discovered—there are certain numbers that city companies care more about than income. He shares his personal journey with “A [Modern Ohio] A Christmas Carol” and the students of the National Association of Surety and Bond Producers’ “Pipeline.”
The lesson he learned about good business leadership and true character will warm your heart and may change the way you look at your business relationships. Read “A Lesson from Last Christmas” in the latest NASBP magazine “Pipeline” and see if your approach to counseling and evaluating bond applicants can grow from what the Pope heard and saw that day.
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Loss of Profit
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