Sunday’s WSJ Small Business Section had an interesting article update on banks willingness to loan money to small and mid size businesses.
As a business owner, president or CEO, what is your personal relationship with your banker? When asked by friends, whose’s your banker, do you respond with a name of a bank or your actual banker or trusted advisor from your local branch of a national firm or your regional bank advisor?
Need a SBA loan or your LOC increased? Do you schedule monthly phone calls or quarterly “sit down” reviews with your banker? Are your key performance indicators (KPI’s) or rearview and dashboard snapshots meaningful and telling on the financial health of your business.
In keeping with my recent “Kick Starting 2011” theme, are you setting you and your company up for success? Please look into a local peer group, leadership lab or advisory board that provides you monthly support and creates a honest sharing, safe place to discuss the “undiscussable’s” with other like minded business owners. It may be one of your most meaningful decisions you will make in 2011.