Kathleen Matthews //October 16, 2012//
Small business owners are in a class of their own – they have unique needs, challenges and opportunities. Making the most of every possible resource is critical to both day-to-day and long-term success. Often overlooked is a benefit owners can gain from their banker: guidance and expertise in financial management and growth.
Banking isn’t just about lending money and executing transactions. Bankers serve as strategic advisors to entrepreneurs in their quest for success. The ability to listen objectively and share the collective wisdom of many small-business experiences is the mark of a banker who truly engages with his or her customers as a trusted advisor.
Distilled from many such conversations between small business bankers and owners, here are 12 ideas – a “banker’s dozen” – that are particularly important for a growing enterprise:
Sure, the economy is challenging right now and small business owners have special challenges. But this also is a great time to be an entrepreneur, to think differently and create opportunities to grow. Even uncertain economic times, if handled correctly, offer opportunity to plan ahead and execute better than competitors. Just remember what Roger Maris once said, “You win not by chance, but by preparation.”
And if help is needed to prepare, try asking a knowledgeable banker for ideas.