Ten Steps to Grow Sales

Follow these ten steps to enjoy greater success selling insurance, investments, and/or related products and services to your current customers who own small businesses.

1. Make a list of every one of your customers who owns a small business doing from $1 million to $50 million in sales, and with between 10 and 300 employees. These people own valuable companies, but most have little or no idea what they are worth. Since their financial plans should be built on a foundation of fact, not speculation, small business owners are prime candidates for a business valuation. (Your first objective is to get 50% of the business owners on this list to agree to do a teleconference.)
2. Learn how SPARDATA helps advisors convince owners to get a valuation by watching the movie posted here.
3. Start the conversation with the business owner.
   1. Pick up the phone and call each owner. Say "Your business is probably one of your most valuable assets. How much do you think it is worth?"
   2. If the owner is one of the 50% who will say "I don't know", go to Step 3e.
   3. If the owner is one of the other 50% who will venture a number (e.g., "$2 million"), ask the follow-up question "Where did that number come from?"
   4. If the owner's value figure is based on anything other than a professional valuation (for example, if the owner says the company is worth 'one times sales' or 'five times cash flow' or some other rule of thumb), or if the owner says he/she does not know what the business is worth, proceed to Step 3e.
   5. Say "I'm not sure that's a reliable number. You may need a business valuation. We work with a great appraisal firm; let's talk to SPARDATA and find out."
4. Schedule a teleconference between you, the business owner, and a SPARDATA Valuation Consultant by calling (800) 895-4100, or by using the online scheduling tool.
5. Send or give the business owner a copy of SPARDATA's brochure, "What Is Your Business Worth?" Tucked inside the back cover is the contract the owner will sign if he/she decides to proceed with the valuation. (Order more free copies of the brochure and contract at SPARDATA's online Supply Room.)
6. Participate in the 20-30 minute teleconference. Your role is simple: just introduce your customer, the business owner, to the SPARDATA Valuation Consultant; then, sit back and listen. (Note that, on average, 75% of business owners who agree to a teleconference end up purchasing a valuation.)
7. If the owner buys a valuation, you earn a 10% finder's fee ($600 for selling a $6000 SPARDATA Report).
8. SPARDATA will keep you informed during the valuation process (6-8 weeks for SPARDATA Reports; 3 weeks for Rush Reports).
9. Unless the business owner instructs otherwise, when the valuation is complete SPARDATA will give it to you so that you can give it to the business owner. (By this time the owner will know exactly what the valuation conclusion is, since he or she has been speaking with the SPARDATA analyst throughout the process. Thus the owner will never ask you a technical question about the report; rather, his or her interest will be "Where do we go from here?")
10. Knowing the value of the business, and based on your assessment of the owner's situation, make appropriate recommendations. You will find the owner highly likely to agree with your suggestions.