Business Solutions approaches

Do you know business owners who are planning to use the sale of their business to contribute to their retirement income? Have they been given a detailed analysis to help determine whether they’re on track to meet their retirement income goals? How much will the sale of their business contribute to those goals? Do they have other investments and savings earmarked for retirement? This is where you come in. Use our business owner retirement approach tool to get in front of business owners and talk to them about retirement planning and other business solutions.

Target market:

• Owners of for-profit businesses of varying entity types including C corporations, S corporations, partnerships, and LLCs
• Owners who want to use their business as a source of retirement income—from either a sale or other transition method
• Owners of businesses with good financial integrity

Use with clients:

• Approach brochure (PDF)
• Sample analysis (PDF)

For financial professionals:

• Request a proposal (DOC)

Among business owners with a succession strategy, one of the most popular plans is to leave the business to family. Help family-owned businesses prepare to secure their future with a simplified planning approach. No matter the type of business, they likely have unique ownership transition needs.

Client tools:

• Approach brochure (PDF)
• Sample proposal (PDF)
• Avoiding family conflicts flyer (PDF)

For financial professionals:

• Request a proposal (DOT)
• Case study (PPT)

The agriculture market offers big opportunities for financial professionals. No matter the type of farm—livestock, crops, orchards or something else—they have one thing in common: Most are family farms with unique ownership transition needs.

Use with clients:

• Approach brochure (PDF)
• Avoiding family conflicts flyer (PDF)
• Sample proposal (PDF)
• Workshop presentation (PPT) | Invite (OFT)

For financial professionals:

• Request a proposal (DOC)
• Marketing guide (PDF)
• Approach eKit (OFT)

Business owners often have numerous planning needs for their business, employees, and personal lifestyle—some known and others unknown. So, how do you determine which solutions they need and are most important to them? Using a couple of basic fact finders, you can walk them through it. For a more comprehensive and interactive approach, use our Business Needs Assessment tool.

Target market:

These approach tools and resources can be used with owners of any business entity type. They're also an alternative when a business falls into an industry where our Informal Business Valuation approach is not a good fit, such as:

• Farms/ranches
• Real estate holding companies
• Businesses with commission as their primary revenue
• Companies with gross revenue of less than $500,000
• Companies engaging in criminal activity
• Rental properties such as bed and breakfasts and hotels
• Small real estate agencies
• New companies less than 3 years in business

Use with clients:

• Short priorities checklist (PDF)
• Comprehensive fact finder (DOC)
• Key question to address (PDF)
• Business life cycle and planning flyer (PDF) | Gen Z stages flyer (PDF)
• Business solutions chart (PDF)
• Approach letter (DOC) | Approach email (OFT)

For financial professionals:

• Business market customer profiles (PDF)
• Approach process (PDF)
• Gen Z approach email (OFT)

Organizations, such as property and casualty (P&C) agencies and employee benefits and accounting firms, are often searching for new reasons to reach out to their existing clients. And they know that some of their customers have unfulfilled risk protection needs.

So, why aren’t they offering to fill these needs? Well, without in-house experienced professionals on life and disability insurance—or retirement and succession planning—they may not feel comfortable making the offering without the necessary support.

That's where you come in. You can help firms deliver the additional products and services that can strengthen their customer relationships—and everyone’s bottom line.

General tools:

• Opportunity presentation (PPT)
• Opportunity guide (PDF)
• Opportunity email (OFT)
• Opportunity eKit (OFT)
• Consumer approach brochure (PDF)
• Consumer approach email (OFT)

Commercial lines tools:

• Needs and priorities checklist (PDF)
• Success story—key person insurance (PDF)
• Success story—business protection (PDF)
• Approach email (OFT)
• Step-by-step marketing campaign (PDF)

Personal lines tools:

• Needs and priorities checklist (PDF)
• Approach email (OFT)
• Step-by-step marketing campaign (DOC)

Strategic alliance approaches (PFN) (PDF) (login required)

To discuss your research and approach strategies in the strategic alliance, please contact: Annette T. Young, Assistant Consulting Director—Business and Advanced Solutions at young.annette.t@principal.com or (515) 452-4096.