THEVALUE OFBUSINESSVALUATIONS

presented by Legacy Financial Partners

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INTRODUCTION

Financial advisors all know that a good business owner presentsmany planning opportunities. Not only is there opportunity forthe business as an entity, but for the owner’s individual needs,as well as any staff. A financial advisor is not only useful toprotect a small business owner’s assets; they can encouragegrowth through any number of strategies.

But, like many client types, business owners often only seek outfinancial services when there’s a need. This is why buildingrelationships with owners early can lead to a lifetime planning ofopportunities.

WHY BUSINESSVALUATIONS MATTER

Business valuations can be a meaningful way to connect withbusiness owners before there’s a need and to be there when aneed arises. This is because a business valuation comes intoplay in many situations, such as:

Estate PlanningSuccession PlanningSelling The BusinessSecuring LoansAsset ProtectionScaling Up/DownKey Man Insurance

BUSINESS VALUATIONSHELP IN ANY STAGE

 OF A COMPANY'S LIFE

Owners often underestimate the importance (and, ahem, value)of a business valuation. When you are dealing with theeveryday concerns of running a company, longer goals tend tobe sidelined and business valuation is typically seen assomething done before the company is sold or transferred.

But business valuations can be helpful to chart progress andinform short-term decisions, which may lead to long-termgrowth or mitigate poor business choices. Knowing what yourbusiness is worth on any given day is important for managingrisks and understanding how you track with your vision.

BUSINESS VALUATION TIP #1:TARGET BELLWETHER

BUSINESSES

Every community has those classicbusinesses that have been aroundfor a while and are beloved bymany in the area. This could be arestaurant, coffeeshop, bookstore,manufacturing plant, what-have-you. Businesses that have beenaround more than five years haveproven their viability and are likelyentering into other phases of theirlife, bringing more complexity andweightier decisions to be made.

In truth, many small businesses--even popular ones--don’t have long-term planning goals outlined, letalone know what their business isworth.Connect with the owners of thesebusinesses and offer a free orreduced business valuation. Thesebusinesses could be places youalready visit in your day-to-day. Do alittle research, meet the owners, andexplain what you do.

BUSINESS VALUATION TIP #2:TARGET NEW BUSINESSES

While new businesses have a high-folding rate, gettingin early and proving your skills can lead to a lifetimeclient. When a new business catches your eye, one youthink has viability, or one you believe can providesustained value to your community, don’t be shy.Introduce yourself and what you can do for them.

BUSINESS VALUATION TIP #3ORGANIZE A BUSINESS

OWNER SPECIFIC SEMINAR

Rather than go after specific business owners, let themcome to you with a business owner specific seminar.Just like you would with any other audience in aseminar setting, address common concerns andimportant concepts that your target market needs toknow. Offer a business valuation at the end of theworkshop and start booking appointments.

LEGACY FINANCIALPARTNERS

Legacy Financial Partners is an independent and fullservice Life Insurance and Annuity FMO that providesspecific marketing solutions to help their clientssucceed. Using dynamic tactics, an extensive supportnetwork and progressive marketing options, LegacyFinancial Partners provides unique and specificdevelopment strategies to our business partners.