This month, we’re going to focus our attention on Business Owner & Executive Review Planning. Some of our carriers, partners, and affiliates have unique platforms that provide an in-depth view of six core needs for business owners and executives. This program is designed to provide you with the expertise needed to guide you through the life cycle of the sales process. These solutions are directly in line with the needs of today’s business owner and executive.
To get you started, check out how you can provide the resources and solutions at no cost to your client. First up, we’re supplying the free Principal video webinar, “Generate Sales with Informal Business Valuations.”
Download the Free Video Webinar to Your Web BrowserIn this presentation, you'll learn:
- Definitions of the five valuation methods
- Which valuation method fits best with specific industries
- How Principal arrives at their financial inputs and calculations as well as how they come up with their guidelines for valuations
- Specific types of companies that are easy to provide a valuation for versus companies that can propose a challenge for producers attempting to provide valuation
- Definitions of each calculation rate considered
Pinney Summary
Business valuation and buy-sell agreement reviews should be completed at least every two years. This is important because variables such as age, the economy, success of the company, etc., change frequently. Besides, this strategy provides a fantastic opportunity to find new business with current clients.
Additionally, valuations are increasing, which means opportunities are increasing. Principal alone completed 1,500 valuations in 2013. We’ve seen what's important to business owners and executives, but of the top 10 priorities — things like short-term disability, succession plans, etc. — most are either not offered to business owners and executives, or are left to multiple advisors. Use business planning strategies to get in the door, find the missing pieces, and be the one-stop advisor for all of a business owner’s needs.
