One critical mistake I see many business owners make is neglecting their relationship with their banker. Your banker can play an important role in your business success, and time spent developing and maintaining that relationship is an excellent investment in your business.
EXPERT TIP | Gary Furr, Organizational Development Consultant:
When I was chief operations officer for a $40 million company, I learned a valuable lesson on how important our banker was to our success. Business does not always go as planned and due to the excellent relationship we had established with our banker, we were able to navigate the downturns in the economy and business. Establishing a trusting relationship with your banker in good times will help you when bad times come, as they inevitably do.
Banking is about more than just rates. You want a banker who is there for the long-term and understands your community and your business.
I spoke with many bankers to prepare to write Make Your Banker Happy, and their feedback revealed ten key areas that are part of establishing a solid, trusting relationship with your banker:
- Financials
- Credit
- Communication
- Business practices
- Management team
- Professionalism
- Customer focus
- Appreciation of the relationship
- Being proactive
- Succession plans
Their suggestions and guidance provide a blueprint for establishing the kind of banking relationship that will serve you and your business.
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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