Warning . . . This one’s a Barn Burner.
In over 50 years in the life insurance and financial services industry, I have never seen a prospecting idea as good as this one. If you are an old hand at business insurance, brace yourself, you’re about to get a lot busier. Even if you’ve never done a single business case, this concept will get you into the market.
Imagine that you could go back to all of your existing clients that own a business. Then, tell them that about 75% of all U.S. businesses don’t know what they’re worth. Then, explain that not knowing this valuation can cause catastrophic mistakes in risk management and planning.
It’s understandable so few know because a traditional, reliable, business valuation appraisal typically costs from $8,000 to $15,000.
Now, tell them that you have partnered with a new company that will enable them to obtain a business valuation that is reliably more accurate than the expensive, traditional version.
It will change the way that a business owner can assess the company’s value for under $400 (maybe even paid by you). The valuation determined is good for buy-sell purposes, key person evaluation, executive benefits for retention of critical personnel, exit planning, retirement planning, and overall wealth management. The information you will uncover for sales opportunities is endless.
Here are the benefits to you:
- Tie your existing business clients more closely to you;
- Capture new business clients;
- Identify insurance and investment shortfalls (where you are the likely provider);
- Give your business clients a way to offer this same free valuation (normally $8,000 to $15,000 or more) to other business owners in their social circle.
- Establish serious credibility with CPAs and attorneys, many of whom will likely want to use this service through you.
The only warning is that this idea/service is going to move fast. You want to be the first to approach existing and new business owners and their advisers with this idea.