The sales process in the small to medium-sized retirement plan business is slow. It\u2019s slow because plan sponsors are slow. A can\u2019t lose proposal takes time because a plan sponsor doesn\u2019t have the urgency to get things done. You can show them that you can save them tons or the other providers aren\u2019t doing their job, but it\u2019s crickets.<\/p>\n\n\n\n
It\u2019s 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\u2019s 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.<\/p>\n
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