Bankers want to see business owners with a proactive vision for the future and a plan, because that increases their chances of success. If you are being reactive and do not have a plan, your banker will be concerned.
The business owner who does not have a plan or is not following the plan is a potential risk for the bank. Being reactive is when you react to everything that comes your way.
Vision and a detailed plan are the guardrails that prevent you from getting lost in being reactive. That is why bankers want to see this kind of planning. They want to know that your actions are being guided by something more lasting than the day-to-day issues and problems that crop up.
EXPERT TIP | Gary Furr, Organizational Development Consultant:
Being able to explain to your banker how you will execute on your plan is important and demonstrates your proactive mindset. This gives them greater confidence that you will achieve your goals and continue to grow as a company—because all great companies have plans.
With over 40 years of C-level business experience and an MBA in organizational development, I am uniquely qualified to help you achieve success in your business. Give me a call to set up a free consultation: 503-312-3145.
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