Business

If Bankers Want More Sales – Start Here

If Bankers Want More Sales – Start Here

As I work regularly with bankers, commercial lenders specifically, I’m frequently involved in conversations about the pressure of sales growth. Revenue growth isn’t unique in business by any means, but it takes on a slightly different angle in banking. Banking resides in a sales category one step removed from where sales typically resides.

What I mean by that is — most bankers I talk to call themselves relationship bankers. In fact, Relationship Manager is the most common title used for this position. They are set-up very well by the bank. They have branding and fantastic products behind them. They have a great presence about them, — their dress, ability to communicate and demeanor.  I love the sales environment they’ve created. When a business owner walks into a branch, the relationship manager exudes confidence and personality. He’s in the best spot in the world from a sales perspective. But the next moment is critical.

Everything You See was Once Someone’s Thought

Everything You See was Once Someone’s Thought

Last week I met a new friend.  Rarely do you meet someone who says something early in the relationship so profound that it inspires you.  Last week I met that type of person.  To start off, this is a professional colleague and we were discussing what motivated us to work with small business owners.  We agreed the passion was seeing creativity spring to life.  She summed it up perfectly.  “Mike, look around you.  Everything created by man was once just a thought.”  

How each subscription is like a grain of sand.

How each subscription is like a grain of sand.

A subscription based business model can be highly lucrative for a business, but a growing burden for the consumer.  As monthly subscription rates drop to prices “less than you spend on your morning coffee”, consumers jump on the idea of a product or service helping them.  Businesses are betting on the low cost/benefit analysis of their subscription to build an enormous customer base.  Both are adding a grain of sand to their monthly cash flow.  The question is when is enough, enough?

How to know when to pull the “trigger.”

How to know when to pull the “trigger.”

Would have, should have, could have. All statements made by small business owners when they see they missed an important opportunity in the direction of their company.  Statements that indicate that hind sight is always clearer than looking forward.  Being able to identify threats and opportunities before they happen is a skill mastered by the best operators, and one you can learn to employ in your own business.