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 surety rep about the most important numbers at a client’s business.
Profits and losses are not the only numbers companies use to determine success, a young Dan Pope learned when he was just starting in the surety business. Bringing his best financial analysis to a good client with the idea of helping that company improve its P&L by eliminating a loss-leader division, Pope, now Senior Vice President of Underwriting at Old Republic Surety, was treated by seasoned business owners to a Christmas lesson he’s never forgotten.
The construction company knew well this division was a financial albatross, but—as Pope discovered—there are some numbers hometown companies care more about than revenue. He shared his personal journey through “A [Modern Ohio] Christmas Carol” with readers in the National Association of Surety and Bond Producers’ “Pipeline.”
The lesson he learned about great business leadership and true character will warm your heart and potentially change the way you approach your business relationships. Read “A Lesson from Christmas Past” in the NASBP’s recent issue of “Pipeline” and see if your advisory approach and evaluation of bond applicants can grow from what Pope heard and saw that day.
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Profit Loss
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