Upcoming Wave of Business Owners Leaving Their Businesses Offers Both Risk and Opportunity for Lawyers...
Want Your Practice To Make More Money?
If you want to position yourself to attract new high caliber clients and increase your income, read on...
In the next few years when the baby boomers start retiring in waves, some lawyers will experience explosive growth in their practices, while others scramble to maintain the status quo.
The successful ones are taking control now of what will happen when their clients transfer or sell their business.
Imagine how you'd feel hearing that a key client is selling their business in three months. And, your firm won't be involved in the process. Even worse, your firm won't represent the business when the new owners take over.
As you may already know, there's going to be a huge wave of Baby Boomers retiring. How well you do in the future, depends on the steps you take now to prepare for the biggest wealth transfer in history.
Make the right choice and get positioned today and you can prosper. Make the wrong choice and you'll watch helplessly as your income is controlled by factors over which you have no control.
What You Must Do Now To Make Your Practice Thrive
The truth is, by knowing about this trend, you can position your practice to profit from it.
Demand will surge for certain services. Your existing clients want those services and by offering them you can also attract new highly profitable clients.
All you have to do is know how to tap into the skyrocketing demand for this service.
|According to the SBA, over 50% of business owners will exit their business in the next five years, and " At any given time, 40% of U.S. businesses are facing the transfer of ownership issue."|
If you want your practice to thrive, start offering exit planning services now.
Protect Your Bottom Line By Taking a Simple Step
Since a large portion of your existing business owner clients will leave their businesses in the next 3 to 10 years, you need to talk to them about exit planning now.
Don't wait for your clients to approach you. Most won't. Others will wait until it's too late for you to offer certain exit planning services.
Take steps now to protect your bottom line when your older business owner clients leave their businesses. By acting now you can increase your chances of maintaining a professional relationship with the new owners.
Even if your clients are leaving their business 3 to 10 years in the future - you need to offer exit planning services now.
Any day you could be asked, "I'm planning on selling (transferring) my business, what should I do?"
If you can't answer that question without hesitation, you've got a problem. Your client needs something and you can't deliver it.
Don't let your client go to another lawyer who can deliver the services they want.
Sell More Services to Existing and New Clients
Offer exit planning services and instead of hesitating when asked what to do, you can confidently answer...
"I can show you a 7 Step Process that will let you sell (transfer) your business when you want; to whom you want; for the amount you want."
In fact, not only will you not fear that question. You'll be able to ask your clients when they plan to leave their business<.
So, instead of referring your clients to another lawyer with the necessary subject matter expertise, you'll be doing more work for your existing clients.
After your client goes through the exit planning process, they'll have a detailed step-by-step guide telling them what they need to do and when they need to do it. They'll know which services they need and when to get them. To achieve their exit objectives, your clients will ask you for additional services before and after the transition.
The "roadmap" they follow is created by a proprietary piece of software, called EPICT. Exit planning advisors with access to this software have a huge advantage over their competition who offer exit planning services.
By being an active participant through the whole transfer process, you'll have a much better chance of maintaining a professional relationship with the new owners.
Finally, as it becomes known that you offer exit planning services, you'll attract new highly profitable business.
All of this is made possible just by letting your clients know you have a proven process in place to help with their exit planning requirements.
Soaring Demand for Lawyers Who Offer Exit Planning Services
Currently in the U.S., there are 9.2 million owners of over 7 million established small businesses. Of these owners, more than half are older than 50. Soon, these owners will need exit planning services.
Think of the potential demand for the legal work associated with millions of business transfers and sales across America as the fast maturing Baby Boomer business owners start leaving their businesses by the tens of thousands.
When you begin to offer exit planning services now, you have a running head start. When your competition finally "wakes up", you're already established as the lawyer to go to for exit planning services.
Team with eXITSTM and Increase Your Income
My firm, eXITS, LLC specializes in Exit Planning.
Together we'll show your clients a proven process to successfully exit their business.
This process was developed by John H. Brown, recognized as the nation's leading expert on exit planning. John has created this system using input from hundreds of advisors from multiple disciplines as well as his 30 years experience working with businesses nationwide.
By following this process, owners of thousands of businesses have been able to leave their businesses on their terms.
As part of the exit advisory team, you'll be able to share this with your clients. This 7 step process requires legal services during each step . Matters like preparing documents for...
- A transfer of ownership among family members
- A transfer to an insider
- A merger or acquisition
- Deferred compensation for the owner
- Buy/sell and stay bonus planning
- Key employee benefit planning
- Estate planning
- Various stock plans
Now I am personally reaching out to you. I want you on my team of professional advisors and it won't cost you anything.
Spend Your Time Dealing With Clients - Not Other Advisors!
When you're a member of my team, you'll spend more time on the activity that makes you money - performing legal work for clients. You won't waste your billable time providing the information necessary to create an exit plan to multiple advisors.
I'm like the quarterback... I coordinate the flow of information among all the necessary experts. It's my responsibility to make sure everything flows smoothly, allowing you to spend more time on billable tasks.
Proven Tools, Strategies and Resources At Your Disposal
In addition, you won't spend time creating marketing and sales materials.
I provide tools proven to work. When you use these tools, you'll increase your visibility, boost your credibility with your clients, and add even more professionalism to your firm.
The bottom line is -- whatever your exit planning need is, you'll have access to the expertise or tools you need.
One more thing.
Earlier I mentioned EPIC.
EPIC™ - The Tool That Gives You An Unfair Advantage
Team members have access through eXITS to an exclusive high-end piece of software. It's called EPIC™, the Exit Plan Interactive Creator. With it, you won't worry even if your competition offers exit planning services - they don't have EPIC™.
EPIC™ is the result of over 30 years of work. John Brown combined his expertise with knowledge gathered from hundreds of professionals from different fields.
By using EPIC™ for exit planning, the trial and error learning period that plagues other Lawyers who offer exit planning services is eliminated. Instead, EPIC™ provides a comprehensive list of questions to ask your clients. The data is put into EPIC™ and it helps create a Personalized Exit Plan tailored to your client's unique requirements. If there's a problem with their objectives, together we perform "What If" scenarios, and get viable options to present.
Your client will have a detailed, step-by-step guide showing exactly what needs to be done, and when it needs to be done. By following this plan, they'll have a successful exit.
But, there's far more to it, than that. The only way to discover everything EPIC™ does is to become a member of my team.
You Can Benefit Even If You Don't Perform Exit Planning Services
Although I feel every law firm that deals with business owners should offer exit planning services, I know that many won't. Even if you don't plan on offering exit planning services, there's a way you can benefit.
By referring your client to our exit planning advisors, you've done the right thing for your client. They'll know the value of their business, how it needs to grow, how to sell to an outside party or sell internally, how to set up contingency plans in case the owner doesn't survive, and more.
Your client will appreciate your referral, because you've shown that you're concerned about their business future. Plus you win by knowing that your client won't leave you for another lawyer that performs exit planning services.
Your client will also likely discover that they need additional services that you do provide.
When your client needs to prepare to sell their business, you can now refer them to a network of qualified professionals, knowing that your core business is safe. My advisors only do the work necessary for the exit planning process, leaving you to continue with your core business tasks.
There is no interference with your business.
Let me ask you a few questions .
- Do you want to "lock-in" your existing clients?
- Do you want to generate a stream of new, high quality clients?
- Do you want to make sure that your income doesn't suffer when your clients retire?
- Do you want to make sure your practice thrives in the next decade?
- Are you serious about taking action now?
If you answered yes to any of the above, you owe it yourself to learn more.
CALL NOW To Discover How Adding Exit Planning to Your Practice Can Become An Ongoing Profit Center
All you need to do is call me personally at, (303) 321-3970 to discover how we can work together for our mutual benefit. Feel free to ask me any questions you have.
If you're still skeptical, call anyway. Your bottom line is too important not to learn more.
Remember, by joining my team...
Plus much more...
And remember, there's no charge for you to add this service.
To your increased profits,
Ken Stiefler, CLU, ChFC, CExP™
President eXITS LLC
P.S. If you save just one key client that you might lose otherwise, it's worth your time.
Call me at (303) 321-3970 to maintain and increase your bottom line.
You'll be glad you did.
P.S.S. Why gamble with your future, add strategic exit planning as a value added service before your competition does and help your clients make informed decisions about their financial future.