E71: Innovation22 Speaker Highlight - Matt Davis

In this episode of Agency Freedom Podcast, James talks with second generation agency principal, Matt Davis. Episode Highlights: Matt shares his background story and how he got into the industry as a second-generation agency owner. (2:57) Matt explains that seeing his team succeed both professionally and with their personal goals is very fulfilling. (6:37) Matt shares that GDI insurance is still focused on and specializes in residential construction. (11:13) Matt mentions that he will be in Nashville at Innovation22 to discuss acquiring agencies and books of business. (12:42) Matt explains that the sellers who will benefit the most from the private equity proposals are those that have a tightly run ship. (17:06) Matt discusses some strategies for building relationships with prospects. (21:55) Matt explains that one of the best things you can do is to become known for being fair and making sure that both parties always win the deal. (24:11) Matt believes that a seller who refuses to provide financial records is a red flag. (26:41) Matt explains that GDI Insurance has been working hard to rebuild the entire agency from scratch. (28:18) Matt expresses his gratitude to his team for their dedication and shares how much enjoys watching their personal and professional growth. (29:25) Key Quotes: "If you become known for being fair, and making sure that both parties always win the deal. That's one of the best things you can do." - Matthew Davis "If somebody's afraid, or hesitant to show you their financial records, these are red flags. So don't fall in love with a deal until you've seen everything and it's already closed." - Matthew Davis "The sellers that are really going to make out well in this private equity offers are those that have a very tightly run ship. And it's going to be hard for anybody using traditional bank debt financing to compete on that multiple" - Matthew Davis Resources Mentioned: Learn more about GDI Insurance Agency here: https://gdiinsurance.com/ Visit our website to join our email list, get the scoop on our LIVE coaching calls and never miss an episode: https://www.agencyfreedom.com   Connect with Agency Freedom Podcast on Facebook at the Agency Freedom Podcast group: https://www.facebook.com/groups/agencyfreedom   Email us at [email protected] with ideas, questions, complaints or your favorite grilling recipe.