Are we missing something important about our referrals business?

I spoke with two work colleagues yesterday. Both are women in their mid 40’s. One with kids, the other without. Both have living trusts in place. Generally they seemed luke warm about our idea, although they did both offer to refer me to some estate planners, rabbis, and such… Neither one was in the mind set necessary for our business and neither had any recent trigger events. So end of life planning just isn’t on their minds.

However, they both had estate plans in place. They both were referred to lawyers by friends. I didn’t think much of this at the time, but everyone I’ve spoken to except J already has a living trust or estate plan in place. That means we haven’t actually found customers for one of the higher priced referral items on our list. As such, I’m starting to question our hypothesized target for our referrals business. People are putting together living wills and estate plans much younger than I had thought. Then again, these are mostly upper middle class folks in the Bay area. My parents didn’t set up their plan until just last year (in their 60s). We need a lot more work to understand the various persona and triggers at the various ages. Our upcoming interviews with the professional side of the business should help round some of this out for us.

-Rick

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About legacynetwork

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