You deserve a banker who listens, understands and makes it work.

Everyone sets out with the best intentions, yet sometimes goals that have been set may affect the service and products that is provided to you. Generally banks offer similar products, with slight differences. The larger banks have more locations (brick and mortar) which if you have a lot of cash deposits may suite you ; otherwise most transactions can be done online.

With banks offering the similar services it can get difficult to find that right relationship. I say relationship because that is how I believe it should be looked at. As a business owner you should be looking to your banker for more than just taking your deposits, and being an order taker. The term Trusted Advisor is currently being overused in the market, however that is how you should see your banker. You should feel comfortable speaking to them about your business, personal banking and business banking needs. Your banker has an extended team who can assist on the business and personal side and should be there to make suggestions.

I was fortunate enough to start my Business Career with a top performing Cash Management partner and a Manager who loved credit. For the first 3 – 6 months I must have taken them on all my calls (which I will forever be grateful for, as they never complained). My Cash Management Specialist without fail always asked three questions.

1.       Tell me about your business. (a banker can read your website, but how you got started, what motivates you, what keeps you up at night can only be answered by you, the owner)

2.       How do you make your payments?

3.       How do you take your payments?

If a banker jumps in and tells you what they can do for you and how wonderful their bank is without finding out about you and your business that is a warning sign. By not asking questions they are directing you to what they want and not what you need.

Warning Signs it may be time to get a new banker or the banker is not the right fit:

·        They do not ask questions about you and your business

·        They keep telling you how great their bank is and continuously talk negatively of their competition

·        They do not introduce you to their team

·        They do not respond to your questions

·        They sound like a salesman (should be looking to provide services that make your life easier, not just to increase your service cost)

·        Only good thing they are offering you is interest rate

They Should Be:

·        Looking for opportunities to connect you with other business owners (not always possible)

·        Introducing you to partners within Bank (e.g. Wealth Management)

·        Providing you Articles about your industry or your personal interests you may find helpful

·        Providing you solutions on your banking and credit needs. (e.g. Could be as simple as letting you know what the bank requires for you to get the increase in the line of credit, and making suggestions)

·        Being available

·        Asking questions about your business

·        Bring suggestions to the ‘table’ without being asked

Choosing a banker and a bank is a big decision. Once you have narrowed down the banks and banker that fit your needs, ask yourself this simple question, “Would you mind being stuck at an airport with them?" or “Would you enjoy spending an evening with them?” If the answer to the question is no, they may not be the right fit for you.  Being comfortable and confident in your banker is equally important.

Like any good relationship it takes time. Don’t end your search until you have both.

Stop the Screaming and take a step back

Yesterday I was reminded of many good lessons about life and dealing with people from my five year old daughter.

When arriving home I heard a lot of screaming coming from upstairs.  Thankfully this is not the norm in my house, thus it was a bit worrisome.  Walking into our twin’s room I saw why my wife was not extremely happy (understatement), and I think I may have even gone purple with rage when I saw what she was screaming about. My oldest daughter (never done this before) had decided to draw with a marker all over the new furniture which we had bought a week ago. With my blood boiling I went in search for my daughter, and found her in her room. This is when thankfully my control set in.  I was able to calm myself down before I did anything I would regret, and remember a few lessons I have learnt over the years.

Lessons Remembered:

·         People do ‘stupid things’ all the time ---count to 10 before reacting

·         Calm yourself prior to deciding how you are going to deal with the situation

·         Mistakes are made ---It is not the end of the world

·         Mistakes can be fixed

·         Make sure lessons are learnt, thus preventing the same mistakes repeating themselves

·         Follow through with the lesson (it may need to be reinforced)

·         Conversations are better than being spoken ‘at’.

·         When ‘teaching or giving someone advice’ let them get to the answer and do not just give it to them.

·         Make sure to put everything into perspective and take a step back

Later in the evening our daughter asked my wife, “Do you want to live in a crying house or fine house?” “If you want to live in a fine house then stop yelling.”  After being taken back a little by this question, it reminded us that as a human being you control the situation and environment that you would like to live and work in.

If my wife and I had carried on screaming and did not take a step back, the lessons learnt may have been none. 

Thankfully peace is back in our home. After doing some research online and a lot of scrubbing we were able to get the marker off the furniture. My daughter has learnt a lesson, our twins have learnt a lesson and I’ve been reminded of many lessons learnt.

“Raising children uses every bit of your being – your heart, your time, your patience, your foresight, your intuition to protect them, and you have to use all of this while trying to figure out how to discipline them.” Nicole Ari Parker