Business Valuation/Buy-Sell Review

• Send the Business Valuation approach email (OFT) (LF502) to point out how the value of a business influences so many aspects of a business and its owner’s future.
• Or mail the approach letter (DOC) (BB10245) to help your clients understand these services can help them secure their financial futures.
• The approach brochure (PDF) (BB9852) can be mailed or used as a leave-behind when approaching business owners about this complimentary service.

Setting the appointment - Sample approach script [Box or set apart as part of Step 2]

Mr./Ms. business owner, this is [name] with [Principal^®] or [DBA].

Opening Option 1 after sending pre-approach brochure: I recently sent you a [letter], [email], [brochure] outlining the customized business planning services I offer that can help you identify the value of your business for planning and protection purposes. Informal business valuations and buy-sell reviews have become popular planning tools with my business-owner clients. Skip the next paragraph.

Opening Option 2 in person or via cold call: I’d like to share with you the customized business planning services I offer that can help you identify the value of your business for planning and protection purposes. My business-owner clients have found these services to be beneficial planning tools. We have a team of CPAs, attorneys and financial consultants that has already provided these services for more than 2,000 clients nationally.

My business clients tell me they’re interested in understanding the impact the economy has had on their businesses over the past few years. Offering these services at no cost allows me to provide value, and help them quickly identify their financial priorities – both at the business and personal level.

Most business owners express frustration about being contacted by financial professionals who are looking for problems to fit with the solutions they offer. For example, they might say, “Let me look at your 401(k)” or “Let’s look at your health insurance premiums this year.” They seem to focus on what they have to offer instead of identifying your priorities. The business planning services I offer help business owners like you do just that, identify your top priorities.

Obviously, the top concerns for most business owners are:

• Growing their businesses
• Effectively managing changes in their businesses
• Eventually retiring from or transitioning out of their businesses – on their own terms

The complimentary business planning services I offer can help you focus on your priorities, whether they involve preparing for retirement, identifying who will manage your business should an unexpected change occur or helping you protect the integrity and value of your business as you transition out. All of these things usually start with having a good idea of the value of your business today, updating the value over time and having a plan in place for managing that process through your intended retirement or transition out of your business.

If I could have just 20 minutes of your time [now], [later this week] or [early next week] to share samples of our business planning services reports with you, I believe you will find them to be valuable tools for your business. All we need to get started are the latest three full years of your company financials, your buy-sell agreement if you have one, and the answers to a few simple questions. What time works best for you?

• Complete the digital request for proposal (RFP).
  • Collect a copy of existing buy-sell agreement.
  • Collect the most recent three full years of company financials (income statements and balance sheets) or business tax returns.
  • Ask about any existing insurance.
• Present the Sample Informal Business Valuation Report (PDF) (BB11286) – This piece will allow you to give an overview of the value provided by this informal valuation service.
• If the client has a buy-sell agreement in place, present the Sample Buy-Sell Review Summary Report (PDF) (BB9868) to offer the buy-sell review service as well.

• Complete the Informal Business Valuation/Buy-Sell Review digital RFP.
  • Five to seven business-day turnaround on informal business valuations
  • Fifteen to 18 business-day turnaround on buy-sell reviews
• When you receive the reports, review the results. If you have questions, call the Business and Advanced Solutions hotline at 833-803-8345 to schedule a call.

• Present the completed Informal Business Valuation and Business Planning Report to the client.
• Schedule a conference call if you would like Business and Advanced Solutions to assist with the discussion of the report, including the buy-sell review.
• Review and rank the planning considerations at the back of the report.
• Be sure to take applications for life (term and permanent) and individual disability income insurance so you can get underwriting started right away.

• Always complete and submit the appropriate Business Submission Checklist (PDF) (DD849R) when submitting your business cases.