Forget Wall Street, try your own street

“More than 99% of American businesses, 6.6 million privately held companies, are found on Main Street, not Wall Street. And while some financial professionals enjoy great success serving the needs of the Fortune 500 firms, there’s actually a lot more business to write in that Main Street group. Companies with annual revenues of $500,000 to $10 million constitute an incredibly underserved market for independent life insurance agents.

These businesses are the dental practices, veterinary clinics, restaurants, and a thousand other enterprises you drive by every day, and their owner-operators need your financial solutions. In fact, two-thirds of American millionaires achieved their wealth by owning a small business. Many companies with as few as 10 employees are worth $1 million or more. So, if you want to work with millionaires, target the small business owner.” — Trent Davis, Davis Life Brokerage, West Des Moines, Iowa

Editor’s Note: The preceding tip was taken from “Finding Big Opportunity in the Business Market,” an article by Trent Davis that ran in the March 2009 issue of Life Insurance Selling. To read the complete article, click here.

To read last week’s Tip of the Week, click here.