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The key to business success: a great relationship with your banker

The key to business success: a great relationship with your banker

Posted on: July 28, 2014
Author: ATB Business & Agriculture

When you start a business, your relationship with your banker is probably not top of mind. It seems like there are always more important things to take care of, like growing your customer base, increasing sales, and establishing your business in your market.

Those are definitely important, but it’s also important to build a team of experts to help you accomplish those tasks and more. Your banker is an important player on that team.

How does maintaining a strong relationship with your banker help your business? Here are a few ways that come to mind for me:

  • Expands your business’ network.

    Your banker has contacts in investing, accounting, and law, and also serves other business owners in your area or industry. They can connect you with these people.
  • Provides an unbiased view of your operations and strategic direction.

    When embedded in your business, it can be hard to see the big picture. Your banker can provide that perspective for you.
  • Connects you with money management experts.

    Improving your cash flow will have an immediate positive impact on your bottom line, which is important at every stage in the business life cycle but maybe most importantly at the inception.
  • Adds another person with a stake in the success of your business.

    Your banker wants you to succeed—it’s good for your business and good for their business. Having someone actively working with you towards your success is powerful.

Want to add a banker to your team? Find a business specialist in your area