Let us assume you have a territory for your benefits plan business. Let us also assume every business needs a benefits plan. In most cases you need to stay local. How can you find new business?

1. Which businesses have sent out Requests for Proposals (RFPs)? This means it is a competitive situation. You have as much right as anyone to bid for the business. Your firm's home office might have information on file concerning previous bids your firm made.
2. Which clients have sent out RFPs? You might say, "They are already a client" but they are entertaining other offers. This means you need to compete to win the business all over again. Perhaps you have added new benefits features that you can include in your proposal, getting a larger piece of business.
3. Which RFP competitive situations has your firm lost? You might be new to the territory, but your firm has been in the area a long time. They competed and lost? How long ago? When will that firm be entertaining new proposals? Why did you lose? Will anyone tell you? How satisfied is the firm with their current provider?
4. What companies were founded in the last year? Crunchbase.com is one of several companies with a database of newly incorporated companies. How many are in your area?
5. Who is new in the office towers? Many high-rise office buildings have a company directory on the ground floor. If you visit periodically, perhaps taking pictures, you can see the new names. Have they been welcomed into their new office yet?
6. Who are the new Chamber of Commerce members? The Chamber should have a new member orientation every month or two. That is a good starting point. Ask if you can attend as a current chamber member. Get to know them.
7. What are the new commercial construction projects in your area? Is someone building an industrial park, medical office complex or office building? Who are the new tenants? Can you find out?
8. What can your local business journal tell you? The publication may have a list of businesses new to the area. Buy the latest copy and check it out.
9. Who has hung "Grand Opening" banners recently? This seems so obvious, but new businesses often announce themselves to the community, especially if they are in a highly trafficked area.
10. Who has set up in the shared workspace environment? Before the pandemic, WeWork and similar firms were setting up shared office space everywhere. Someone might rent an actual office, someone else might rent desk or table space to set up their laptop and conduct business. These might be small operations, but they need benefits plans too.

Related: Are you missing new business opportunities around you?

There are new businesses popping up all the time. There are also existing businesses seeking the best benefits plan they can get for their employees. There is opportunity.

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, "Captivating the Wealthy Investor" is available on Amazon.