After the lead – How to start the business planning conversation

Presented by Brian Leising

What do you say when your marketing efforts work?  You got your foot in the door and made it past the gatekeeper.  Do you know what to say when you get in front of a business owner?  Here are a couple tracks to follow.  The first can lead to products that help their business today.  The second will help them continue their business into the future.

Helping their business today:

“Have you heard about the new types of retirement plans available to business owners?”

“What type of plan do you have?”

“When was the last time you reviewed your plan?”

“Did you know any business can have any type of plan?”

Offer a free look (if no current plan) or a free review (if a plan is in place).  You can then utilize factfinders to gather revenue and census information.

“Have you heard about the new type of retirement plan available for your key employees?”

“What type of plan do they have now?”

“When was the last time you reviewed the plan?”

Tax laws change from time to time.  An unreviewed plan can do more harm than good.  A business should review their plan periodically to insure tax compliance and to make sure they are getting the best value for their dollars.

Helping their business in the future

“What’s your exit strategy?”

“Who will buy your business?” (while alive, dead?)

“What are the tax implications of the sale?”

“Will you or your heirs receive a fair price?”

“What is your business worth” (most owners mis-value by 60%)

“Does your business have more than one owner?  If so, is a buy-sell agreement in place?  How is the agreement funded?

How many of your business-owner clients have serious answers to these questions?  They started their business and know how to run it, but how do they get out?  Many business owners have no plan or only a partial plan in place.  Their lack of planning will hurt their immediate family and the employees they leave behind.

Posted in Annuities, Disability, Life Insurance, Long Term Care and Disability Insurance, Sales & Marketing and tagged , , , .

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