In today’s executive protection market, companies and individuals with a small number of EP agents can thrive in this competitive market, operating from anywhere. This means assisting multinational corporations with low-profile EP for its senior execs visiting various cities in the U.S. or doing business in unstable countries worldwide.
However, by keeping your EP operation small, it’s going to be tough doing the majority of things on your own (advertising, contracting, invoicing and training). Everybody in the EP industry is hurting, so the more you can save and help your clients save on EP services the better.
You don’t want to position yourself as a “high-end boutique” EP service provider, during recessionary times clients are looking for extremely high quality EP services at reasonable rates. Think high volume and moderate profit margins by designing your services to have a very low overhead, many EP companies and individual freelance teams go out of business because they create a large overhead structure.
Times are tough for everyone so it’s all about strategy; continue to manage your EP operations carefully with an eye towards meeting the future demands of your clients and prospects so you will be able to fund the initial assignment costs. This means managing your cash flow so your profits are sufficient to fund your small EP team as well as having funds set aside for larger EP assignments for the future.
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