An experienced small-business banker can do much more than facilitate transactions.

Twice a year is a good cadence for conversing about big-picture challenges and opportunities.

They can provide fresh insights that are informed by local market trends and solutions that are tailored to your unique needs and goals. They can help you analyze your cash flow, enhance your credit readiness, develop sound risk management strategies, expand your community network, and even brainstorm creative ideas for
business growth.

In short, bankers can become business partners you can count on.

Here are five ways to make the most of your business banking relationship:

1 Bank Local and Bank in Person

Digital and mobile banking tools can help busy business operators save time and money on simple transactions – but when it comes to deepening relationships, there’s just no substitute for authentic one-on-one connection.

By choosing to bank at a neighborhood branch, you’ll become a friendly face instead of an anonymous account number. That naturally leads to more attentive and personalized service. Also, you’ll get to know who’s who, so you’ll be able to connect with the right person right away instead of climbing a phone tree.

Community financial institutions tend to have less turnover and internal relocation than the big national banks, so these local connections can have real staying power.

2 Set Up Regular Meetings

By arranging to meet with your business banker on a regular schedule outside of your day-to-day transactional needs, you can make sure you’re discussing what’s most important – not just what’s most urgent.

Many financial experts suggest that twice a year is a good cadence for conversing about big-picture challenges and opportunities. For one of those meetings, you might consider inviting your banker to visit your operation and see your business in action.

Prepare some recent financial statements and other metrics to illustrate your business’s operating results. Balance sheet, profit and loss, cash flow, and accounts receivable aging reports are all useful to track and discuss.

3 Build Out Your Network

Think of your small-business banker as one point of an expansive, interdependent web that includes other
professional service providers, fellow business owners, prospective customers, and other valuable connections across
your community.

In uncertain times, this network can provide mutual support to your enterprise. By introducing business associates, making referrals, and participating in formal and informal networking opportunities, this ecosystem can flourish.

Plus, when you’re recognized as an integral part of the community, you may be able to secure favorable lending and investment options.

4 Get Personal

Whether you and your banker discover a shared enthusiasm for go-kart racing or an appreciation of fine Italian wines, moving past “strictly business” can strengthen your working relationship for years to come.

Naturally, bankers rely on various pieces of hard data in making product recommendations and lending decisions. But ideally, they’re also looking to gain a more holistic perspective on their local small-business clients. One of the six Cs of creditworthiness is character – and this intangible factor is most easily established through authentic personal rapport.

Besides, mixing a little bit of fun into your professional life is a more fulfilling experience for everyone involved.

5 Strive for Open Dialogue

Whether you’re thriving and growing, experiencing some challenges, or just taking care of business as usual, always keep your banker in the loop so they can offer you the best possible guidance.

One mistake that banking clients frequently make is clamming up when they run into money trouble. They’re afraid of incurring judgment if they admit they’re at risk of missing a loan payment or overdrawing their account. But it’s better to leverage the foundation of trust you’ve built and ask for flexibility or helpful resources.

Remember that you and your banker are on the same team – their goals are align with yours, and they’re rooting for your success in business and in life.

Ready to Work Together?

For personalized advice that helps to propel your enterprise forward, consult your financial institution.

0