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Suppose you are an insurance agent and find yourself at a reception standing beside the most successful business owner in town - somebody you want to become your client. If you introduced yourself by saying "Hi, I sell life insurance, want to buy some?", how would the owner react? Probably by trying to escape from you ASAP! Here is a much better way using business valuations to build a relationship with prospects like this, easily and completely non-threateningly:
Turn to the owner and said "I've heard a lot about you. It sounds like you've built a very successful business. Congratulations!" The owner will be flattered and will reply "thanks".
You continue: "How much do you think your business is worth"? Not only does the owner asks himself this question often, chances are his advisors have not helped him get an answer. So nine times out ten the owner will say "I don't know".
"I don't know either" you say, "but I DO know your business is probably your most valuable asset. If I were you I'd want to know because otherwise you cannot do any financial planning. You cannot say how big your retirement nest-egg is; whether you have an estate tax issue; whether you have enough insurance; or even how much to ask if you decide to sell it." Since everything you say is true, you will notice your prospect's head will start nodding as you talk.
Now it is time to close. "I am no valuation expert", you say, "but I know somebody who is. I suggest we do a conference call with him to see whether it makes sense to have your business appraised." Since your proposal is in the owner's interest and costs nothing, odds are he'll say yes. (Afterwards use the online tool at our website to schedule a teleconference . For details about what happens during the teleconference, read What Happens During The Teleconference.) Even those who say no are doing you a favor because they are probably are not serious about solving their financial issues and so have saved your time.
In 30 seconds you have built an bridge to a highly attractive prospects. What other approach can make the same claim? Try this conversational approach. You will be amazed at how well it works!