Let me ask you a question: do you think your customers, clients, or employees truly trust you? A person might wonder to themselves how they can profit in their business today, in a world where trust has been broken down on so many levels of our society, and what is the best way to create trust? It's simple, just do what you tell people you're going to do, don't overpromise, return all phone calls immediately, give great service, and never exaggerate the truth. You build trusting relationships over time while doing your best to serve your client better, and then just be honest. Remember, the first person of the day you must face is yourself in the mirror. This chapter would not be complete if I did not address a very prominent problem facing most businesses. And that is the problem of keeping key people in your employment. I recently read that, on average, a young person will change jobs at least four times by age 40. Employee retention can cost a company a lot of money through loss of time, recruiting, training, and losing key people to your competitors. The following information may help you solve this problem. The following chart and example could be very important to you and your family. I mean, wouldn't it be great to own a business where you could gradually wean yourself from the dependence of your bank, which sometimes you need when you're in that cycle where you need some extra cash flow? You may be one of those business owners who are free from needing a commercial bank but are you enslaved to go some key employees? I have been there, and it is a terrible feeling. I love my independence, and hopefully, you can see this is what I want for others as well through my writing of this book. “Employer Cash Balance Plan” The Employer typically purchases a well-designed, high-grade, permanent life insurance policy of sufficient size so that, at the Key Employee’s death, it recovers all of its funding costs – including, in many cases, a factor for “use of money”.
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