It’s not urgent until it is

The sales process in the small to medium-sized retirement plan business is slow. It’s slow because plan sponsors are slow. A can’t lose proposal takes time because a plan sponsor doesn’t have the urgency to get things done. You can show them that you can save them tons or the other providers aren’t doing their job, but it’s crickets.

It’s why I always that plan sponsors are reactive, not proactive. They are only urgent with the plan when something goes wrong or the plan gets audited by the government. It’s not urgent until it becomes urgent for them. The best way to succeed in this business is to understand human nature and the human nature of a small to medium-sized plan sponsor.

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