How to Pitch Your Clients So They Understand




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hi today we're going to talk about the power of words placed in the proper order and how they can be very very powerful or they can confuse your prospect or potential client we see a lot of CPA's attorneys advisers who are very very knowledgeable in our areas of expertise high finance income tax planning estate planning asset management and when they get in front of a client let's say they're worth $25 million dollars that has income tax problems and unprotected to stay asset management needs and they start trying to solve those problems for instance when a CPA or Attorney or an Advisor advises his clients saying mister Jones you're gonna need to set up a digit you're gonna need setup about employee stock ownership plan and make a tax-deductible contribution to this plan I in its gonna benefit your state is going to benefit your income tax situation and so forth when using words like he stops in captives in I am digits and Q birds even though we may understand what that means someone who's a business owner whose expertise is making widgets and selling widgets we can assume they understand in fact we know that in many cases those words can confuse that client and can shut down that case or opportunity immediately and so what we do when we're coaching or training a CPA firm or law firm Or advising other advisers are how to position themselves in which words to use we would recommend using very very simple language that anyone can understand so I would eliminate using these words like digits and he stops in captives in Q Bert and replace them with simple concepts like a box for instance that same business owner that has to pay over a million dollars of income tax each and every year what if we set up a structure for you mister Jones that enables you to contribute say two million dollars a pre-tax dollars each year to the structure and give you access to those funds in the structure that you can use to acquire competitors to purchase buildings or to use as cash flow to help you operate your business now the negative and up that structure would be you have to give all give up maybe 30 percent of your company to your employees but still retain control if we could save you say ten million dollars have taxes over the next seven to eight years and you would only have to use a portion of that money say two million dollars about money to fund a to have enough cash to buy back the stock from some of those employees would that be a good idea for you or not now again we're not using complicated terms like he stops are captives were using terms like structure or for instance when were mitigating an estate in order to reduce the estate tax liability instead of using words like digit or trust that may or may not be complicated to that end user what if we use a word like a box we set up a box we allow you to make tax-deductible contributions to this box and your children would have to benefit have those resources in that box however if you choose to move those assets back out this box back into your estate you have that privilege is that sound appealing to you or not so today we talked about words the power of words in the proper order and also utilizing very very simple words that anyone can understand