It’ s Never Too Early to Plan
As he contemplates his and his agency’ s experience over the course of developing and executing a succession plan, Corbin Gunstream reflects on the importance of the four Ds— Death, Divorce, Dissolution and Disinterest. While not the only guiding principles for an agency owner contemplating his or her exit strategy, they remain important considerations.
Corbin Gunstream
Gunstream, a partner in Engineered Industrial Products, Inc.( EIP), Santa Fe Springs, California, began working for the agency in 2005 and has been responsible for territory management in Northern California and Northern Nevada. He became partners with Kurt Fisher in 2017 and serves as CFO for the company in addition to his sales territory.
Gunstream, 35 years old, maintains that planning for the future is an absolute necessity.“ No matter where you are in your career, you’ ve got to be looking ahead. What are the variables that could occur that would cause me to leave the business early? Family considerations can affect your decision. How about if in the future your interests shift so that you want to do something else with your career. What if for some business reasons the agency has to be dissolved? What are your plans then?”
In making those plans, he explains that while his goal has been to make himself as valuable as possible to the agency,“ I want to make myself replaceable, I don’ t want to be the face of the