The Power Of A Relationship With A Business Banker
Listen to our blog on "The Power Of A Relationship With A Business Banker" here:
SUMMARY
On this segment of The Lifestyle Business Owner Radio Show, Aaron and Mayumi Muller welcome Eric Scroggins, their business banker. Scroggins answers questions that all small business owners should be asking, how to get approved for loans and the smarter steps to create huge results for businesses. The success of your company directly correlates to the team and systems you have created for it--your team can add or deteriorate the growth and vision of your business. Bankers provide quantifiable value to your business from development to discourse, you need to ensure that whom you hire is consistently adding to the trajectory of your business.
LET'S GET DOWN TO BUSINESS
Author of The Lifestyle Business Owner, Aaron Muller, emphasizes the importance of research, planning and benefits of having a business banker on your team. Eric’s ability to establish trust and honesty from the beginning, was the reason why Aaron chose Eric to handle the business banking for all of his companies. The importance of having a partnership with a business banker results in new, introduced opportunities, insight regarding potential pitfalls and personal investment towards the trajectory of the business.
THE STREET SMARTS OF SMALL BUSINESS
You should always have interest in talking to a business banker, whether you are planning on taking out a loan or not. Author of Vision Blockers, Eric Scroggins expands on the do's and dont's when approaching a business banker, as a small business owner.
#1. Do Your Homework
- The interviewing process is most important when searching for the right business banker for you.
- Proactively build strategies and implement structures to ease into the transition of having a business banker on your team. They are an extension of your business so be thorough in your interviews!
#2. Red Flags
- Full Disclosure
- Business bankers need to be equipped to succeed--this happens when financial information is accounted for and properly presented in the early stages of conversation.
- Establish trust initially by honest reporting, organized bookkeeping and transparent records—how you run your businesses can affect the banker’s inclination to come onboard.
#3. Vision
- Allow your business banker to weigh in on the observed projection of your business, potential pitfalls and addressing financial obstacles.
- Bankers can meet people right where they are and begin to build strategies to go to phenomenal results.
The book Vision Blockers, How to Shatter Barriers to Achieve Your Destiny, identifies exhausting internal and external barriers that separate us from our vision. Scroggins exposes activities, powerful gestures, steps and methods to overcome such barriers and shares his message across seas. Entrepreneur's benefit from business banking and consulting by building a strategy that allows for improvement, integrating effective skills into businesses and envisioning the business at very successful levels.
SHOW US SOME LOVE.
Please hit the like button below so we know you like our content and want more like it!
Follow The Lifestyle Business Owner on Instagram to receive video updates!
We give gratitude and shout-outs to our students, so post a screenshot or video on Instagram and use '#LBO!' We can't wait to hear what you think about this episode!
QUOTES TO SHARE.
Want More?
Listen to our recent Lifestyle Business Owner Radio Show segments here:
How To Get Started In Business
Why Every Business Owner Needs An Attorney