As baby boomers approach retirement and start thinking about succession and estate planning, the first step is often appraising the family business. 

Over the next decade, $13.2 trillion of business owner wealth is set to transition. For financial professionals working with business owners, that’s an opportunity that can’t be ignored. By connecting with business owners and helping them answer the question, “What’s your business worth?” you’re not only opening the door to conversations around their short and long term goals, their aspirations for their family and business- you’re getting the opportunity to tie in other complimentary services that surround the value of their business. 

How can conversations around improving the health of a company begin without knowing the business value? By helping business owners understand the value of their business—in most cases their greatest asset—advisors set a foundation for the suite of services they can then provide. Business valuation can be paired with services such as retirement planning, exit planning, insurance planning, evaluating funding opportunities, lending, creating buy/sell agreements, succession planning, and more. 

Dan Crowley of Peer Executive Groups states, "Business valuation is the beginning of everything for a business owner. We use BizEquity to help guide action plans and identify areas of improvement for our business owners." 

Ready to break into business valuation? Advertise your business valuation service across a number of vehicles:

  • Make sure to include business valuations on your company website (in addition to other services you provide for business owners)
  • Promote across social media networks 
  • Reach out and email clients
  • Host and attend events*  

If a potential business owner client visits your website or your LinkedIn page, it should be immediately clear how you can help them. It is helpful to provide educational content or link to related articles that support the importance of your services. Help current and potential clients understand the importance of knowing what their business is worth with professionally crafted, client-facing messaging and supporting materials- BizEquity’s Success Center hosts a library of business owner-facing blog posts, presentations, tip sheets and videos, social media tiles and more- to support advisors and their conversations with current and prospective clients. 

Offering business valuation as a new service can be intimidating, but it doesn't need to be. Follow these best practices guidelines to turn a business valuation offering into successful, long-term client engagements. 

*For more information on hosting an event, take a look at our article on the importance of attending in-person events → https://blog.bizequity.com/where-you-should-be-and-why