When you start building a business, it’s not always easy to find real support in the person of your banker. We get the impression of being in an inferior position to someone who demands something and who has not yet proved himself. So how do you inculcate the right habits from the start to build a relationship of trust in which you can count on him as an ally? Here are 7 tips for having a fulfilling relationship with your client advisor.
As far as each party expressing their wishes and taking into account the wishes of the other may be viable as a calm and rewarding relationship, let’s start by looking at the deepest desires and aspirations of your bank’s professional customer advisor. Do it.
Tip N°1 – Be transparent // The banker loves transparency (well, especially yours)
It is not your priority to put a spoke in your wheels but to be your partner. You can in theory trust him, if he puts you in the right place, he will be able to support you in good times and bad.
Above all, he wants to know as much as possible about you and your business. Be as honest and transparent with him as possible. In any case, you must provide him with your detailed business plan and your forecast balance sheet. Try not to manipulate your market data too much, moreover, you know it very well, they sometimes know them better than you… Every bank has job description which gives them average figures and market share. show trends. It’s pretty easy for your banker to tell if you’re a little too optimistic.
Tip N°2 – Be a good manager // Bankers like good managers
For him, a good customer is above all a customer who knows how to manage a business. He is someone who knows how to take care of his working capital and his cash flow. He is also a person who does not claim reimbursement of expenses at all costs even though he always draws more.
Most cases of mismanagement occur when the fees are too high or the managers pay more than the company itself. In fact, the accumulation of bank charges often results from poor management.
For a banker, being a good manager means putting the interests of his company before his own (and therefore not paying himself a salary that jeopardizes his company’s cash flow).
Tip N°3 – Be steady // The banker likes regularity
Rather than being far-sighted and alert by nature, he will appreciate seeing you regularly to take stock. He also likes you to be consistent and predictable, for example: Give yourself a small regular salary from time to time instead of a big one. He will be very confident.
Tip N°4 – Guess // The banker wants to know what will happen
Like many people, ultimately, he hates to be presented with an absolute accomplishment. If you know you’re going to run into a problem and get pulled over, warn him in advance and explain why. Also tell him when and how you will make up for this overdraft.
Plus, you can get an estimate by negotiating a few things from the start, such as the application fee and your loan rate, for example.
Tip N°5 – Accept that he has to earn a living // Banker is a service provider like no other
Sometimes, it is enough to understand it and accept it in order to relax. Your banker is not a philanthropist and should also be making money for his business, just like you will eventually. He accrues it primarily in two ways: with the fixed costs of your management package and with the variable costs of your operations outside the package.
Contrary to what one might think, credit is not actually a source of income for the bank, but a good source of loyalty. The idea is to accept that it is give and take. If you are okay with him making money, then he will be okay with making money with you.
Tip N°6 – Be a friendly person // A banker is also a human being
Like you, his heart is beating a little under his gray jacket and he can have good days and bad days. He likes a little attention provided they’re not subject to conditions and appreciates having a friendly relationship with his customers, even especially when he manages an average of 200 professional accounts like yours. On the other hand, he hates being under pressure and doesn’t appreciate stressful situations. So treat it well, it will always be in your best interest to have it support you.
Tip N°7 – Choose your bank wisely // The banker manages well what he knows
Don’t hesitate to choose an agency similar to other companies in your area because you will meet people who understand your business.
In general, turn to banks specializing in professional accounts like CIC or Banque Populaire, where you’ll have better conditions and contacts than entrepreneurs are accustomed to.
So my advice, today: write her a short note to ask her if she had a great vacation and tell her about your plans for the start of the school year!