Hiring and Retaining Top Employees – How Small Business Owners Can Compete
Josh Ver Hoeve – VP Annuity & Life Distribution
(Asset Marketing Systems)
May is National Small Business Month.
Do you work with small businesses or small business owners? Over the past fifteen years, I have worked with some of the most successful financial advisors in the country, and one of the most apparent challenges has been turning business owners into clients. For the advisors that are in the business owner market, they typically got there by creating relationships with single individuals who introduced or referred them to a business owner. Almost all of the advisors in the business owner space got there by networking and relationships.
In several instances, this happened by over-delivering to a single client and giving so much to one person that they felt an obligation to refer to you, much like any referral-based advisor practice. Most of you reading this right now are small business owners. Understanding a business owner’s concerns is imperative in creating a relationship with them. *There are 28 million small businesses in the United States which outnumber corporations by over 1,000 to 1. Seventy percent of those small businesses are owned and operated by a single individual. Because there is no secret sauce to getting a new business owner client, let’s focus on one of the most common issues business owners face and how we might be able to appeal to this concern.
According to Entrepreneur.com, twenty percent of small business owners say that employee retention is their largest roadblock to business growth. Finding the right person for the job and attracting that individual enough not just to take the job, but also stay with the organization is very challenging. How can a small business compete with recruiting and keeping talent in the same way a large corporation can? Indexed Universal Life is one of the answers. First, think about all of the challenges business owners face, and then think about the benefits of an indexed universal life policy, from tax-free income to living benefits. Then comes the question of cost to a small business owner. But what if they can’t provide enough benefit?
This concern transitions us to Kai-Zen which is a strategy you can use to leverage business owner dollars. Take a look at a quick video on this very concept from Grace Bernard from NIW:
Interested in more information? Contact the Life Sales team at Asset Marketing for more information at 888-303-8755.
Also, E-mail firstname.lastname@example.org to request your Allianz Life Business Insurance Kit!