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Conclusion: Make Your Banker Happy
Bankers are looking for:
- Businesses that know and understand their financials
- Business owners that proactively communicate with the bank
- Businesses that have good business practices and documented processes and procedures in place
- Businesses with a seasoned management team in place or access to those who can advise them
- Businesses that have organized their operations to maximize effectiveness and efficiency
- Business owners who take their relationship with the bank seriously and act in a professional and ethical manner
- Businesses that are focused on meeting customer needs
- Owners that want to have a long-term relationship with their bank
- Business owners who are proactive, not reactive
- Business owners who understand that having succession plans in place will reduce risk for not only the owners and employees but also the bank
- Businesses that avoid the not so good, the bad, and the ugly like the plague
Your banker wants to help you succeed and that requires good business practices on your part. The better you get in these key areas, the more confident your banker will be that your business will be able to weather the storms that come your way.
I know a number of bankers serving small to mid-market companies, more than I interviewed here. These bankers are normal people who care deeply about what they do and about their customers. They love to see their customers doing well, and they truly enjoy working with their customers. It is why they are in business. They particularly like working with customers who appreciate the trusted advisor relationship. Finding the right bank with the right banker should be on top of your priority list. If you already have a banker, getting to know him or her and building a trusted relationship is critical to your success. Think of it like dating. You meet your banker and learn more about them and they learn more about you. Being honest is the most important aspect of establishing a long-term relationship. In order for the relationship to go further, it takes effort on your part and that takes continual and effective communication. Trust is not built in one meeting; it takes consistent effort on your part. In short, be proactive and intentional about creating a long and lasting relationship with your banker. Follow these bankers’ advice and you will be on your way to a relationship that will serve you and your business well. The benefits of doing so will pay returns for many years to come.
In Summary
Gary Furr, MBA, is an experienced CEO, COO, and internationally sought-after consultant. He is in the business of helping business owners make more money, reducing the risk for their bank and banker. Gary’s approach has grown out of forty-plus years of C-Level business experience, an MBA in organizational development, and countless interactions with business owners, observing their struggles to achieve the level of success that they envisioned when they started their business. For the last several years, Gary has helped business owners and executives improve productivity, increase capacity and reduce waste in their businesses and has successfully increased bottom-line revenues in some cases by more than 1000 percent.
I interact with a group of bankers on a regular basis. If you are in need of a small to mid-market bank, I can guide you. And, if you are struggling in your business or want to take your business to another level, I can help you achieve dramatic results.
www.garyfurrconsulting.com / 503-312-3145
If you are looking for more tried-and-true business advice in book form, take a look at another book I wrote just for that purpose: It’s Not Hard It’s Business[/vc_column_text][vc_column_text]
Make Your Banker Happy
10 Keys to Unlocking a Good Relationship with Your Banker
The various aspects of your business are like links in a chain, and your banker serves as one of those links. Because any chain is only as strong as its weakest link, it’s vital to develop an excellent working relationship with your banker, even to the point where your banker is a trusted advisor. In this book, a leading consultant who helps his clients generate dramatic results you will show you the keys to unlocking a good relationship with your banker.
As a business owner, your relationship with your banker is essential to your success. Follow our series on the website and get your desktop reference copy from Amazon.[/vc_column_text][vc_single_image image=”4854″ img_size=”full” alignment=”center”][vc_column_text]
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