A recent New York Bankers Association Conference on "Building Momentum with Small Businesses." Some of the topics include: The top 10 questions that drive satisfaction for business owners, 4 key iniatives for banks interested in building sustainable results and research on what small businesses want from their banks.
This document discusses strategies for banks to build momentum in small business markets. It provides an overview of the current small business environment and challenges banks face in attracting and retaining small business clients. Research findings are presented that show declining satisfaction among small business owners at medium-sized banks. The document then discusses the importance of business acumen and relationship building strategies, presenting data on skills and questions that drive small business owner satisfaction. It outlines four stages of developing relationship management skills from reacting to opportunities to actively building market share.
The document discusses strategies for banks to increase revenue in challenging economic environments. It recommends focusing on cross-selling additional products to existing customers, leveraging branch networks as distribution points, expanding small business lending, and using customer credit data to identify other opportunities. The document also suggests that mergers or acquisitions may be necessary for some banks to achieve necessary scale, expand into new markets, and diversify their business lines in order to survive difficult conditions.
This document discusses strategies for branch managers to effectively prospect for small business relationships. It begins by providing background on Buck Bierly and his consulting firm, which specializes in sales leadership and relationship development in business banking.
The document then examines whether branch managers can prospect effectively for small businesses. While there are opportunities, consistent execution is a challenge due to conflicting priorities, skill deficits, and a lack of coaching support. It discusses various small business relationship models that banks have attempted, including using small business specialists and refocusing branch managers on outside calling.
The document emphasizes the importance of building long-term relationships over quick transactions. It provides templates for branch managers to have more strategic conversations with business owners focused on their business
The five step guide to financing recruitment business growthOutsauce
Make the most informed decisions on your journey to business growth.
Find out:
How to prepare for success
The pros and cons of every funding option
The unique benefits of factoring and invoice discounting
The power of corporate finance
Tips to take it to the next level - including acquiring another business and selling your agency
The document provides tips for businesses seeking capital from banks, including preparing an executive summary and financial documentation, demonstrating adequate cash flow, articulating the business model, knowing how loan funds will be used, and ensuring good personal credit. It also outlines general bank requirements, the proper use of capital, cash cycles, the importance of a business plan and cash flow, collateral needs, the role of personal credit, cash injections, the U.S. Small Business Administration loan programs, optimizing chances for loan approval, and timing loan closings.
BoyarMiller's State of the Capital Markets eBookBoyarMiller
As part of its ongoing Breakfast Forum series, BoyarMiller hosted three financial experts for a moderated discussion on The Current State of the Capital Markets 2019. The panelists were: Kamden D. Kanaly, CFP®, Chairman, KDK Private Wealth Management; John Sarvadi, Executive Managing Director, Corporate Banking, Texas Capital Bank; and Scott D. Winship, Managing Director, GulfStar Group Investment Bankers.
This document provides guidance on developing a compelling client proposition. It outlines exercises and tools to help advisers understand what clients need, want and value. The exercises guide advisers to map their client journey, identify what clients currently get and don't get, and define their ongoing client relationship and review process. The document stresses the importance of focusing the client proposition on clear benefits for clients. It also recommends testing the proposition with clients and refining it based on their feedback.
Super Force Excellence In Protective ServicesLakesia Wright
This document is a proposal from Elite Trained Specialist providing security services in Jamaica. It outlines the company's mission to protect clients through ethical and professional security services. It describes the various security services offered like armed officers, investigations and electronic surveillance. Packages are tailored to client needs and can include discounts for bundled services. Potential clients are encouraged to request a proposal to discuss security requirements and recommendations.
This document discusses strategies for banks to build momentum in small business markets. It provides an overview of the current small business environment and challenges banks face in attracting and retaining small business clients. Research findings are presented that show declining satisfaction among small business owners at medium-sized banks. The document then discusses the importance of business acumen and relationship building strategies, presenting data on skills and questions that drive small business owner satisfaction. It outlines four stages of developing relationship management skills from reacting to opportunities to actively building market share.
The document discusses strategies for banks to increase revenue in challenging economic environments. It recommends focusing on cross-selling additional products to existing customers, leveraging branch networks as distribution points, expanding small business lending, and using customer credit data to identify other opportunities. The document also suggests that mergers or acquisitions may be necessary for some banks to achieve necessary scale, expand into new markets, and diversify their business lines in order to survive difficult conditions.
This document discusses strategies for branch managers to effectively prospect for small business relationships. It begins by providing background on Buck Bierly and his consulting firm, which specializes in sales leadership and relationship development in business banking.
The document then examines whether branch managers can prospect effectively for small businesses. While there are opportunities, consistent execution is a challenge due to conflicting priorities, skill deficits, and a lack of coaching support. It discusses various small business relationship models that banks have attempted, including using small business specialists and refocusing branch managers on outside calling.
The document emphasizes the importance of building long-term relationships over quick transactions. It provides templates for branch managers to have more strategic conversations with business owners focused on their business
The five step guide to financing recruitment business growthOutsauce
Make the most informed decisions on your journey to business growth.
Find out:
How to prepare for success
The pros and cons of every funding option
The unique benefits of factoring and invoice discounting
The power of corporate finance
Tips to take it to the next level - including acquiring another business and selling your agency
The document provides tips for businesses seeking capital from banks, including preparing an executive summary and financial documentation, demonstrating adequate cash flow, articulating the business model, knowing how loan funds will be used, and ensuring good personal credit. It also outlines general bank requirements, the proper use of capital, cash cycles, the importance of a business plan and cash flow, collateral needs, the role of personal credit, cash injections, the U.S. Small Business Administration loan programs, optimizing chances for loan approval, and timing loan closings.
BoyarMiller's State of the Capital Markets eBookBoyarMiller
As part of its ongoing Breakfast Forum series, BoyarMiller hosted three financial experts for a moderated discussion on The Current State of the Capital Markets 2019. The panelists were: Kamden D. Kanaly, CFP®, Chairman, KDK Private Wealth Management; John Sarvadi, Executive Managing Director, Corporate Banking, Texas Capital Bank; and Scott D. Winship, Managing Director, GulfStar Group Investment Bankers.
This document provides guidance on developing a compelling client proposition. It outlines exercises and tools to help advisers understand what clients need, want and value. The exercises guide advisers to map their client journey, identify what clients currently get and don't get, and define their ongoing client relationship and review process. The document stresses the importance of focusing the client proposition on clear benefits for clients. It also recommends testing the proposition with clients and refining it based on their feedback.
Super Force Excellence In Protective ServicesLakesia Wright
This document is a proposal from Elite Trained Specialist providing security services in Jamaica. It outlines the company's mission to protect clients through ethical and professional security services. It describes the various security services offered like armed officers, investigations and electronic surveillance. Packages are tailored to client needs and can include discounts for bundled services. Potential clients are encouraged to request a proposal to discuss security requirements and recommendations.
Sales Leadership Linking Sales Strategy To Sales ResultsLakesia Wright
The document discusses linking sales strategy to sales results through clear communication and accountability. It outlines 7 key questions sales leadership must address: 1) Is the sales strategy clearly linked to the organizational strategy? 2) Is the sales strategy understood throughout the sales force? 3) Does the sales force have the capabilities to execute the strategy? 4) Does the strategy form the basis for field-level planning? 5) Do leadership policies support critical sales behaviors? 6) Do salespeople understand how their work achieves strategy goals? 7) Is progress tracked to ensure accountability? Addressing these questions ensures execution supports strategy through multilevel management support and objective tracking of results.
The document introduces Wealth Guidance Group and Raymond James, outlining their commitment to clients, team, process, and capabilities. It discusses planning for retirement and wealth protection, and highlights Raymond James' resources and advantages, including their focus on individual investors, size and stability, and account protection. The presentation aims to determine if a relationship would be mutually beneficial.
The document provides tips for small business owners seeking bank financing, including preparing an executive summary and business plan, demonstrating adequate cash flow, obtaining proper financial documentation, articulating their business model and intended use of funds. It also discusses general bank requirements, the importance of personal credit, options for obtaining SBA loans, and factors considered for a successful loan closing.
This document provides an overview and summary of the FHA 203k loan program. It discusses that the 203k program allows borrowers to obtain financing to purchase a home and fund rehabilitation/repair costs through a single mortgage. It outlines the key aspects of the 203k Rehab and 203k Streamline loans, including eligible property types, borrowers, improvements, and rehabilitation timelines. The document is intended to educate real estate partners and customers on the benefits and options provided by the FHA 203k loans.
This document provides an overview of small business loans from the Small Business Administration (SBA). It defines what an SBA loan is, explains that SBA loans can be used to finance various business needs like purchasing equipment or real estate. The document also outlines the benefits of SBA loans like longer repayment terms and lower down payment requirements compared to conventional loans. Additionally, it dispels common myths about SBA loans taking a long time or requiring excessive paperwork.
This document discusses PrecisionLender's partnership with Customers Bank. It provides an overview of PrecisionLender, describing them as a company that designs solutions to help banks manage pricing, understand relationship profitability, and construct better credit portfolios. It summarizes PrecisionLender's key technologies and how they drive quantitative and qualitative benefits across the deal lifecycle, from new business development to ongoing portfolio management. It also describes the tools and features available to relationship managers through PrecisionLender, including options for improving deals, understanding relationship profitability, and gaining assistance from their virtual pricing analyst, Andi.
Webcast - Creative Best Practices for Mortgage MarketingHarland Clarke
Most marketers agree that the list and the offer are integral to a winning direct marketing campaign. But some underestimate the power of creative, and that’s a mistake. Hard-working creative ensures that your communications get noticed and read. Watch the full webcast here: http://harlandclarke.com/media/webcasts/2014/05/u309/10-Creative-Best-Practices-to-Kick-Up-the-Effectiveness-of-Your-Mortgage-Marketing
7 instances when a credit card make more sense than a small business loan holdMyMoneyMantra
A business credit card may be preferable to a small business loan for new businesses, when avoiding interest payments or fees, if collateral is not available, to provide credit options for employees, or to take advantage of perks like rewards programs. A business credit card offers no-interest promotional financing, avoids the need for collateral unlike a loan, and can be used to give credit to employees or take advantage of rewards benefits.
Finding it hard to prioritise? Three ways to make prioritisation easierLauren Spiteri
The document discusses prioritization and provides tips for making prioritization easier. It recommends being clear on boundaries by starting with strategy, cascading priorities to teams, and linking priorities to performance management. It also suggests evaluating options using appropriate tools based on the decision, and making trade-offs by clearly communicating choices and following through on decisions. The overall message is that prioritizing can be made easier by setting clear boundaries, thoughtfully evaluating options, and explicitly making trade-offs.
This document summarizes a study on debt recovery techniques, problems, and prospects at BASIC Bank LTD's Shantinagar branch. The study investigated causes of non-performing loans through a survey. It found that major causes included economic downturns reducing business profits and consumer buying. It recommended that banks carefully assess borrowers' repayment abilities, monitor loan use closely, and address insider lending to minimize bad loans.
A balance transfer credit card allows you to transfer existing credit card balances to a new card with a lower interest rate, sometimes even 0%, for a set period. It is important to choose a card with a long enough 0% period to pay off the balance and not spend on the card, as new purchases will accrue interest until the transferred balance is paid. The best cards offer 0% interest for 12-24 months on transfers and a regular purchase rate under 10%.
This document provides an executive summary and business plan for New Yorker Wealth Management (NYWM), a new small wealth management firm located in New Rochelle, NY. NYWM will provide portfolio management and financial planning services to high net worth individuals, families, and small businesses. The management team brings extensive experience from large financial institutions. NYWM will offer services including estate planning, retirement planning, education funding, risk management, and investment strategies. The target customer is high net worth individuals and business owners seeking personalized financial guidance.
Access to capital is one among the most important barriers little businesses face once wanting to implement growth ways. That’s why it’s vital to know each the benefits and downsides of debt finance. A convincing truth in business is that it takes cash to create cash; however it takes inexpensive cash to last. However wherever can that cash come back from? There square measure scores of choices. Don’t let the word “debt” scare you. Primarily, debt finance is that the act of raising capital by borrowing cash from a loaner or a bank. Reciprocally for a loan, creditors are then owed interest on the cash borrowed. Debt may be cost-efficient, providing little businesses with the funds to top off on inventory, rent further workers, and buy property or much-needed instrumentation.
This document provides an overview of PrecisionLender and its partnership with Sandy Spring Bank. PrecisionLender designs solutions that help banks manage pricing, understand relationship profitability, and construct better credit portfolios. It serves commercial banks ranging in size from less than $1 billion to over $1 trillion in assets. PrecisionLender's software helps bank employees win deals, create stronger client relationships, and build their personal and bank brands.
NMBL Ventures acquires discounted mortgage notes with the goal of generating double-digit returns for investors. It works to keep homeowners in their homes through loan modifications or other strategies while also providing profitable exits for investors. The company is led by experienced former bank executives and asset managers who have expertise in acquiring, servicing, and liquidating real estate notes.
This document provides an overview of PrecisionLender and how it helps banks:
- PrecisionLender is a pricing and profitability management solution used by over 200 banks to help relationship managers price deals better, understand relationship profitability, and build stronger client relationships.
- It provides real-time pricing options and deal structuring assistance to help relationship managers win deals while meeting bank objectives. It also helps understand portfolio impacts.
- PrecisionLender's artificial intelligence assistant, Andi, learns from past deals to provide pricing recommendations and opportunities to expand relationships or find new opportunities.
This document provides an overview of PrecisionLender and how it helps banks:
- PrecisionLender is a software solution that helps commercial relationship managers price deals better, understand relationship profitability, and build stronger client relationships.
- It is used by over 200 banks ranging from under $1B to over $1T in assets to price commercial transactions worth over $600B annually.
- The software acts as the "brain" of the bank by helping RMs structure better deals in real-time, document deals efficiently, and understand their credit portfolio to target the right clients.
- It provides insights into relationship profitability and the impact of winning or losing deals on funding levels and portfolio growth.
This document discusses PrecisionLender, a company that provides software solutions to help banks better manage pricing, understand relationship profitability, and construct credit portfolios. It describes PrecisionLender's services, clients, and how its software fits into and enhances various bank functions like sales, credit underwriting, portfolio management, and more. It also introduces Andi, PrecisionLender's virtual pricing analyst powered by artificial intelligence.
Sales Leadership Linking Sales Strategy To Sales ResultsLakesia Wright
The document discusses linking sales strategy to sales results through clear communication and accountability. It outlines 7 key questions sales leadership must address: 1) Is the sales strategy clearly linked to the organizational strategy? 2) Is the sales strategy understood throughout the sales force? 3) Does the sales force have the capabilities to execute the strategy? 4) Does the strategy form the basis for field-level planning? 5) Do leadership policies support critical sales behaviors? 6) Do salespeople understand how their work achieves strategy goals? 7) Is progress tracked to ensure accountability? Addressing these questions ensures execution supports strategy through multilevel management support and objective tracking of results.
The document introduces Wealth Guidance Group and Raymond James, outlining their commitment to clients, team, process, and capabilities. It discusses planning for retirement and wealth protection, and highlights Raymond James' resources and advantages, including their focus on individual investors, size and stability, and account protection. The presentation aims to determine if a relationship would be mutually beneficial.
The document provides tips for small business owners seeking bank financing, including preparing an executive summary and business plan, demonstrating adequate cash flow, obtaining proper financial documentation, articulating their business model and intended use of funds. It also discusses general bank requirements, the importance of personal credit, options for obtaining SBA loans, and factors considered for a successful loan closing.
This document provides an overview and summary of the FHA 203k loan program. It discusses that the 203k program allows borrowers to obtain financing to purchase a home and fund rehabilitation/repair costs through a single mortgage. It outlines the key aspects of the 203k Rehab and 203k Streamline loans, including eligible property types, borrowers, improvements, and rehabilitation timelines. The document is intended to educate real estate partners and customers on the benefits and options provided by the FHA 203k loans.
This document provides an overview of small business loans from the Small Business Administration (SBA). It defines what an SBA loan is, explains that SBA loans can be used to finance various business needs like purchasing equipment or real estate. The document also outlines the benefits of SBA loans like longer repayment terms and lower down payment requirements compared to conventional loans. Additionally, it dispels common myths about SBA loans taking a long time or requiring excessive paperwork.
This document discusses PrecisionLender's partnership with Customers Bank. It provides an overview of PrecisionLender, describing them as a company that designs solutions to help banks manage pricing, understand relationship profitability, and construct better credit portfolios. It summarizes PrecisionLender's key technologies and how they drive quantitative and qualitative benefits across the deal lifecycle, from new business development to ongoing portfolio management. It also describes the tools and features available to relationship managers through PrecisionLender, including options for improving deals, understanding relationship profitability, and gaining assistance from their virtual pricing analyst, Andi.
Webcast - Creative Best Practices for Mortgage MarketingHarland Clarke
Most marketers agree that the list and the offer are integral to a winning direct marketing campaign. But some underestimate the power of creative, and that’s a mistake. Hard-working creative ensures that your communications get noticed and read. Watch the full webcast here: http://harlandclarke.com/media/webcasts/2014/05/u309/10-Creative-Best-Practices-to-Kick-Up-the-Effectiveness-of-Your-Mortgage-Marketing
7 instances when a credit card make more sense than a small business loan holdMyMoneyMantra
A business credit card may be preferable to a small business loan for new businesses, when avoiding interest payments or fees, if collateral is not available, to provide credit options for employees, or to take advantage of perks like rewards programs. A business credit card offers no-interest promotional financing, avoids the need for collateral unlike a loan, and can be used to give credit to employees or take advantage of rewards benefits.
Finding it hard to prioritise? Three ways to make prioritisation easierLauren Spiteri
The document discusses prioritization and provides tips for making prioritization easier. It recommends being clear on boundaries by starting with strategy, cascading priorities to teams, and linking priorities to performance management. It also suggests evaluating options using appropriate tools based on the decision, and making trade-offs by clearly communicating choices and following through on decisions. The overall message is that prioritizing can be made easier by setting clear boundaries, thoughtfully evaluating options, and explicitly making trade-offs.
This document summarizes a study on debt recovery techniques, problems, and prospects at BASIC Bank LTD's Shantinagar branch. The study investigated causes of non-performing loans through a survey. It found that major causes included economic downturns reducing business profits and consumer buying. It recommended that banks carefully assess borrowers' repayment abilities, monitor loan use closely, and address insider lending to minimize bad loans.
A balance transfer credit card allows you to transfer existing credit card balances to a new card with a lower interest rate, sometimes even 0%, for a set period. It is important to choose a card with a long enough 0% period to pay off the balance and not spend on the card, as new purchases will accrue interest until the transferred balance is paid. The best cards offer 0% interest for 12-24 months on transfers and a regular purchase rate under 10%.
This document provides an executive summary and business plan for New Yorker Wealth Management (NYWM), a new small wealth management firm located in New Rochelle, NY. NYWM will provide portfolio management and financial planning services to high net worth individuals, families, and small businesses. The management team brings extensive experience from large financial institutions. NYWM will offer services including estate planning, retirement planning, education funding, risk management, and investment strategies. The target customer is high net worth individuals and business owners seeking personalized financial guidance.
Access to capital is one among the most important barriers little businesses face once wanting to implement growth ways. That’s why it’s vital to know each the benefits and downsides of debt finance. A convincing truth in business is that it takes cash to create cash; however it takes inexpensive cash to last. However wherever can that cash come back from? There square measure scores of choices. Don’t let the word “debt” scare you. Primarily, debt finance is that the act of raising capital by borrowing cash from a loaner or a bank. Reciprocally for a loan, creditors are then owed interest on the cash borrowed. Debt may be cost-efficient, providing little businesses with the funds to top off on inventory, rent further workers, and buy property or much-needed instrumentation.
This document provides an overview of PrecisionLender and its partnership with Sandy Spring Bank. PrecisionLender designs solutions that help banks manage pricing, understand relationship profitability, and construct better credit portfolios. It serves commercial banks ranging in size from less than $1 billion to over $1 trillion in assets. PrecisionLender's software helps bank employees win deals, create stronger client relationships, and build their personal and bank brands.
NMBL Ventures acquires discounted mortgage notes with the goal of generating double-digit returns for investors. It works to keep homeowners in their homes through loan modifications or other strategies while also providing profitable exits for investors. The company is led by experienced former bank executives and asset managers who have expertise in acquiring, servicing, and liquidating real estate notes.
This document provides an overview of PrecisionLender and how it helps banks:
- PrecisionLender is a pricing and profitability management solution used by over 200 banks to help relationship managers price deals better, understand relationship profitability, and build stronger client relationships.
- It provides real-time pricing options and deal structuring assistance to help relationship managers win deals while meeting bank objectives. It also helps understand portfolio impacts.
- PrecisionLender's artificial intelligence assistant, Andi, learns from past deals to provide pricing recommendations and opportunities to expand relationships or find new opportunities.
This document provides an overview of PrecisionLender and how it helps banks:
- PrecisionLender is a software solution that helps commercial relationship managers price deals better, understand relationship profitability, and build stronger client relationships.
- It is used by over 200 banks ranging from under $1B to over $1T in assets to price commercial transactions worth over $600B annually.
- The software acts as the "brain" of the bank by helping RMs structure better deals in real-time, document deals efficiently, and understand their credit portfolio to target the right clients.
- It provides insights into relationship profitability and the impact of winning or losing deals on funding levels and portfolio growth.
This document discusses PrecisionLender, a company that provides software solutions to help banks better manage pricing, understand relationship profitability, and construct credit portfolios. It describes PrecisionLender's services, clients, and how its software fits into and enhances various bank functions like sales, credit underwriting, portfolio management, and more. It also introduces Andi, PrecisionLender's virtual pricing analyst powered by artificial intelligence.
This document discusses a partnership between MainStreet Bank and PrecisionLender to implement PrecisionLender's commercial loan pricing and relationship management software. PrecisionLender's software helps relationship managers price loans, understand client relationships and portfolio profitability, and improve origination workflow. The software provides real-time pricing options, relationship insights, and is powered by an AI assistant named Andi to help relationship managers win deals, build stronger client relationships, and improve portfolio management.
PrecisionLender is a platform that helps banks make better pricing and profitability decisions to unlock greater value from customers. It is used by over 7,000 relationship managers at 200+ banks. PrecisionLender acts as the "brain" of the bank by providing pricing suggestions and monitoring relationships to identify opportunities. Its goal is to help relationship managers have better conversations with customers, offer competitive deals, understand portfolio impacts, and ultimately grow the bank's business.
Practical Strategies to Address the Top 10 Issues Facing Banks TodayIntegrity Solutions
Ideas to shift from a transactional to a customer-focused culture and relationship-based selling. Five qualities of a customer-centered culture. Four questions to gauge where your organization is today.
Retain banking, also known as relationship banking, aims to build strong relationships with customers to ensure their continued business and support. This helps banks retain existing customers and attract new, long-lasting customers. Building loyalty through good customer service is key, as it creates rapport and trust, retaining customers for life. Data analysis can identify the most profitable customers to focus retention efforts on, while also improving services based on feedback from defecting customers. Relationship banking treats banking as an ongoing process rather than a series of isolated events to develop high customer satisfaction and loyalty over the long term.
The document summarizes a session on finance in Cornwall in 2019. It included presentations from various lenders on available funding options for businesses. Lloyds Bank discussed lending over $25 million to 92 Cornish businesses that year. Another presentation discussed using a commercial broker to access funding beyond a business's main bank. A third presentation was from a peer-to-peer lender on providing common-sense lending for rural and entrepreneurial businesses. The session aimed to bust myths around bank lending and provide businesses with information on alternative funding sources.
This document discusses a partnership between PrecisionLender and First Business Financial Services. PrecisionLender provides commercial banks with solutions to help relationship managers price deals better, understand client and portfolio profitability, and construct stronger credit portfolios. The key technologies allow quantitative and qualitative benefits across the deal lifecycle. Relationship managers can use PrecisionLender as a negotiation and sales tool to improve deal structuring and win rates. It also helps manage portfolio risk and opportunities.
This document provides an overview of PrecisionLender for Deloitte. It includes:
- An introduction to PrecisionLender and what they do to help banks manage pricing and understand relationship profitability.
- A demo of PrecisionLender's platform and how it fits into the bank's processes.
- Details on how PrecisionLender has been implemented in over 200 banks and how it provides benefits like increased loan growth and improved loan spreads.
- A discussion of typical implementation options for PrecisionLender, including proofs of concept, full implementations for a single line of business, and multi-line of business rollouts.
- An overview of the implementation process and recommended phased rollout plan for
This document discusses a partnership between BankFirst Financial Services and PrecisionLender. PrecisionLender provides solutions to help banks better manage pricing, understand relationship profitability, and construct credit portfolios. It was founded in 2009 and currently prices commercial transactions at a run-rate of over $600 billion annually. The document discusses PrecisionLender's services and how they fit into the operations of a bank, including opportunity pricing, credit underwriting, documentation, and portfolio management. It also introduces Andi, PrecisionLender's virtual pricing analyst powered by artificial intelligence.
This document discusses reimagining business development services (BDS), also known as technical assistance (TA), provided by CDFIs to their small business loan clients. It argues that BDS should be viewed as a discrete product or strategy to support portfolio performance and mission. The document provides examples of how BDS can be improved by establishing clear goals, metrics, engagement strategies and funding models. It also presents a case study of how one CDFI, Working Solutions, redesigned their BDS program through improved processes, staff roles and impact tracking.
Success Failure and Principles of Competitive SuccessSudhir Bisht
Partial notes on BBA 205 course for students of IP University (Delhi) and anyone who wants a beginner's level knowledge.
Citations are reflected in the slides.
This presentation from PrecisionLender discusses their commercial loan pricing and profitability platform. PrecisionLender aims to fit into banks' technology ecosystems by serving as the "brain" of the bank, helping with opportunities, pricing, credit underwriting and portfolio management. The platform includes a virtual assistant named Andi that provides pricing suggestions and monitors customer relationships. PrecisionLender has been implemented in over 200 banks and prices over $200 billion in commercial transactions annually. The presentation demonstrates the platform's impact and discusses implementation timelines.
This document provides an overview of PrecisionLender and how it helps banks. PrecisionLender is a commercial loan pricing and portfolio management platform that has been implemented in over 200 banks. It helps relationship managers win deals by quickly structuring solutions, build stronger client relationships, and create a more valuable brand. PrecisionLender provides real-time options for improving deals, understands relationship and portfolio impacts, and empowers managers with pricing analytics and recommendations from its AI assistant, Andi. This helps banks price deals more competitively, qualify opportunities earlier, and focus on the most profitable relationships.
The document discusses preparing for a business loan request. It covers assessing personal finances and understanding credit scores. The 5 C's of credit - character, capacity, capital, conditions and collateral - are important for lenders to evaluate creditworthiness. Both short term financing like lines of credit and long term financing like real estate loans are described. Choosing the right banking partner and maintaining a successful relationship is key to taking advantage of financing opportunities. Financial statements and tax returns are typically required for a loan review.
This document provides an overview of short term and long term business financing options, including popular SBA loans. It discusses the importance of assessing personal and business creditworthiness using the 5 C's framework. Business owners are advised to prepare financial documents like tax returns and balance sheets when applying for loans. Maintaining a strong relationship with a banking partner is also emphasized.
Entrepreneurs discover market needs and launch businesses to meet those needs, taking risks and driving innovation. Small businesses are defined by employee count, sales, and assets, though definitions are arbitrary. Successful entrepreneurs are committed, take leadership roles, seek opportunities, tolerate risk and uncertainty, are creative and adaptable, and are motivated to exceed goals. Integrity is essential for entrepreneurial success by creating value for customers and avoiding distortions from excessive financial focus. The right small business considers individual strengths and the type of business. Franchises provide training, financial assistance, and proven methods but with fees and restrictions.
Approaching Your BankerTips1. Keep in mind tha.docxrossskuddershamus
Approaching Your Banker
Tips
1. Keep in mind that to stay in business banks need to make loans.
Do not be afraid to ask for one. That is what the Commercial Account Manager wants you to do. To increase your chances of getting a loan, look for a bank that is familiar with your industry and who has done business with companies like yours. Seek out banks that are active in small business financing. Some banks lend on a conventional basis (lending money without government support), while some banks participate in government programs (in the form of government participations involving direct government funds or loan guarantees). However, be aware that banks often demand stiff collateral requirements for start-ups.
2. As an entrepreneur, make sure that you are thoroughly prepared when you go to your banker's office to request a loan.
You need to show your bankers that a loan to you is a low-risk proposition. Have on hand a completed Business PlanManagementMarketsMaterialsMoney Copies of cash flow (12Mth) Financial statement projections (3-4yrs)
3. Learn to anticipate every question that he or she has. Remember, the combination of information and preparation is the most powerful negotiating tool in the world. A confident and thoroughly prepared borrower is four times more likely to have his or her loan approved than a borrower who does not know the answer to some of the basic questions a banker asks. To show the extent of your preparedness, your business plan should also include answers to your banker's questions.
These questions normally are:
How much money do you need? Be as exact as possible; although adding a little extra for contingencies will not hurt. How long do you need it for? Be prepared to go into detail about what the money will do for you and why your business is a good risk. What are you going to use it for? Businesses use loans for three things: to buy new assets, pay off old debts, or pay for operating expenses. When and how you will repay for it? Your cash flow projections should provide a repayment time frame. Convince the banker of the long-term profitability of your business and your ability to repay the loan by using your financial projections and business plan. What will you do if you do not get the loan? Is your request Safe and Sound.
4. Do not take an apologetic and negative attitude. Keep your negativity in check. Present yourself as an entrepreneur who can and will repay the loan. Boost your image by providing your Commercial Account Manager with any promotional materials about your business, such as brochures, ads, articles, press releases, etc.
5. Dress in a professional manner for the interview. This is a business transaction, so treat it as such.
6. Do not stretch the truth in your loan application. Broad, unsubstantiated statements should be avoided. The lender can easily check many of the facts on your application. If you cannot support statements with solid data, then don't make them.
Investment banks can provide a tremendous amount of value to your business. This might be most clear when it comes to assisting with a sale process or preparing for an IPO, but advice and guidance often begins well before a transaction.
You don’t need to be actively pursuing an exit to begin speaking with banks. Building relationships early on can provide perspective on who would be the best partner down the road, and are often great resources before engaging as well.
Read more at https://openviewpartners.com/blog/
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
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Nyba.retail and small business conference.march 15 2013.v1
1. MZ BIERLY CONSULTING
Building Momentum
with Small Businesses
Strategies for Acquiring and Retaining
Business Clients
Ned Miller
MZ BIERLY CONSULTING, INC.
610-296-4772
nmiller@mzbierlyconsulting.com
www.mzbierlyconsulting.com
3. MZ BIERLY CONSULTING
It’s a changing environment – and it’s the right time to focus on the
Small Business Market.
Recent Research on what Small Business Owners want from their
Small Business Bankers.
4 Key Initiatives for Banks Interested in building sustainable results
in the Small Business Market.
Resources/tools to help.
Q&A (as time permits).
Our Discussion Today
3
4. MZ BIERLY CONSULTING
The ―trust issue‖ that was part of the recession has many small
business owners ―looking around‖ for a ―relationship‖ they can trust.
Business owners are pessimistic about future operating
environment.
Everybody is trying to get in the small business lending game.
Approval rates are inching up.
Larger banks are hiring small business bankers; banks of all sizes
are pushing branch managers out of the branch trying to get more
feet on the street.
The Big Picture
4
6. MZ BIERLY CONSULTING
Prospecting Model: The Satisfaction Curve
6
All Relationships go through
periods of Satisfaction and
Dissatisfaction.
7. MZ BIERLY CONSULTING
Prospecting Model: The Satisfaction Curve
7
―RQS‖ Shoppers make
changes in banking
relationships at the bottom
of the curve.
RQS = Relationship, Quality or Service Shoppers
8. MZ BIERLY CONSULTING
Large Banks Score 11% or More Below Medium Banks
8
40%41%
29%
22%
29% 24%
0%
10%
20%
30%
40%
%Agree
Strongly
The gap between large and small banks is widest on the attitudes: will stand by us in tough
times, effectively meets our credit needs and has competitively priced service charges.
$100K-<$10MM
90% Q: Please indicate how strongly you agree or disagree with each statement. My primary
bank…
79%
74%
65%
76% 73%
78%
62%
57%
62%
52%
70%
66% 64% 65%
44% 44%
50%53% 51%
47%
54%
50%
60%
70%
80%
Small Banks
(Assets
<$1B)
Medium
Banks (Assets
$1B-
$50B)
Large Banks
(Assets
>$50B)
+4%
+5%
+3%
1Q2012-4Q2012
Small Business Rolling 4 Quarter Data
= arrows denote change since previous year
-6%
+6%
+5%
+5%
+5%
+9%
-5%
Is responsive Is easy to do Appreciates Gets things Is financially Effectively Will stand by Has Has
to requests or business with our business right the first stable meets credit us in tough competitively competitive
questions time needs times priced service
charges
rates and fees
on loans
10. MZ BIERLY CONSULTING
Who is your toughest competition today in the small business
market? Why?
Quick Question
10
11. MZ BIERLY CONSULTING
Big Banks?
11
“We are competing on price. It’s
a function of the market. If there
is a client we want, we will be
competitive on price.”
Ergetu Merete, Business Banking
Division Manager for Philadelphia Area
Business Journal, September 2012
13. MZ BIERLY CONSULTING
• Teaneck, N.J.'s Cross River Bank, which holds $199 million in
assets, is responding to pressure to gain business customers by
going door-to-door, pitching 0 percent loans to dry
cleaners, spas, and medical offices in the city. Cross River Bank
Chairman and interim CEO Gilles Gade says the program, which
has about $1 million to lend initially, is primarily meant to shore up
goodwill in the community and net more long-term business
customers. The bank has so far written about 20 one-year loans for
amounts ranging from $5,000 to $20,000, Gade says.
From "N.J. Bank Hits the Streets With Door-to-Door Lending Campaign"
American Banker (08/09/12)
Idiot or Genius?
13
14. MZ BIERLY CONSULTING
Each banker has a Default Value Proposition
1. Low-Price/Low-Structure Provider
―Tell me what you have at your current bank . . . we’ll beat it.‖
2. Service
―We’ll be accessible and responsive. You’ll think you’re my only
client.‖
3. Business Acumen (Business Experience and Expertise)
―I’ll understand your business, help you anticipate your needs,
and help you navigate through increasingly complex financial
choices. . . better than any other banker.‖
Values and Value Propositions
14
15. MZ BIERLY CONSULTING
This study correlates skills with
―Customer Satisfaction‖ and with
the likelihood a Business Owner
would refer you to other
Business Owners.
Data from the Enterprise Council on Small Business
Business Owners and Business Acumen
15
16. MZ BIERLY CONSULTING
The Key Skills
from the Study.
Data from the Enterprise Council on Small Business
Business Owners and Business Acumen
16
17. MZ BIERLY CONSULTING
The Questions
that drive results
and satisfaction.
Data from the Enterprise Council on Small Business
Business Owners and Business Acumen
17
18. MZ BIERLY CONSULTING
The Key
Questions that
drive satisfaction.
Data from the Enterprise Council on Small Business
Business Owners and Business Acumen
18
19. MZ BIERLY CONSULTING
Data Courtesy of the Enterprise Council on Small Business
Relationship
Development
Strategies that
drive satisfaction.
Business Owners and Business Acumen
19
20. MZ BIERLY CONSULTING
Level of Relationship is Based on Value Drivers
20
Not all Decision Makers want the same level of relationship with an RM.
Adding Value is based on matching the value driver of a Decision Maker.
Value Drivers. . . What the Decision Maker is looking for
5
1
2
3
4
21. MZ BIERLY CONSULTING
What Does it Take: Building
Relationship Management Skills
21
Reacting to Opportunities Developing New Opportunities
Stage 1 Stage 2 Stage 3 Stage 4
Stance:
Waiting for opportunities
Stance:
Proactively seeking opportunities
part of the time
Stance:
Seeking qualified opportunities
regularly
Stance:
Actively building market share, wallet
share and developing opportunities
Methods:
Walk-ins
Irregular lead generation
Referrals from a few long-time
clients or “well-worn” referral
sources
Lead generation is largely reactive
Product-focused client discussions
Methods:
Some referrals from clients
Generating leads from any and
all businesses
Identifying and building new
referral sources
Focuses at Controller or VP
Finance Level
Focuses on “financial issues”
Sees role as sole “executor” of
relationship
Methods:
Focused and proactive lead
generation
Effective use of testimonial
referral sources
Focuses at “C-Suite” level, builds
strategic relationships
Sees role as “strategist”
Effectively uses Bank’s Senior
Management to build
relationships
Methods:
Actively cultivating referral network
and systematically using it
Actively working the best clients and
prospects
Always seeking new “niche”
opportunities
Consistently uses Experience and
Expertise as a Value Proposition
Highly effective at adjusting lead
sources and a building brand
Characteristics:
Infrequent calling
Little planning or structure to
relationship management process
Works “whatever is in front of me”
Focuses on credit/product strategy
first then “sales” strategy
Value proposition centers around
price/structure or “client service”
Characteristics:
Meets target level of calls, but
little focus or preparation
“I’ll take whatever I can get”
orientation
Selling 1 product category at a
time, leads with loans
Identification of opportunities
often limited to 1-year time frame
Inconsistent results and
“cycling” pipeline
Characteristics:
Stays focused on targeted lists
Persistent, never gives up
Comfortable at all levels of the C-
Suite
A focus on depth of relationship
Consistently identifies
opportunities (short-term, mid-
term, long-term, explicit and
implied)
Consistently generates results
Characteristics:
Always aware of new opportunities
Always thinking one year ahead
An articulated plan for consistently
developing new opportunities
Long-term, expertise-based
relationships
Characterized by Product Acumen and
Strategizing Transactions
22. MZ BIERLY CONSULTING
What Does it Take: Building
Relationship Management Skills
22
Reacting to Opportunities Developing New Opportunities
Stage 1 Stage 2 Stage 3 Stage 4
Stance:
Waiting for opportunities
Stance:
Proactively seeking opportunities
part of the time
Stance:
Seeking qualified opportunities
regularly
Stance:
Actively building market share, wallet
share and developing opportunities
Methods:
Walk-ins
Irregular lead generation
Referrals from a few long-time
clients or “well-worn” referral
sources
Lead generation is largely reactive
Product-focused client discussions
Methods:
Some referrals from clients
Generating leads from any and
all businesses
Identifying and building new
referral sources
Focuses at Controller or VP
Finance Level
Focuses on “financial issues”
Sees role as sole “executor” of
relationship
Methods:
Focused and proactive lead
generation
Effective use of testimonial
referral sources
Focuses at “C-Suite” level, builds
strategic relationships
Sees role as “strategist”
Effectively uses Bank’s Senior
Management to build
relationships
Methods:
Actively cultivating referral network
and systematically using it
Actively working the best clients and
prospects
Always seeking new “niche”
opportunities
Consistently uses Experience and
Expertise as a Value Proposition
Highly effective at adjusting lead
sources and a building brand
Characteristics:
Infrequent calling
Little planning or structure to
relationship management process
Works “whatever is in front of me”
Focuses on credit/product strategy
first then “sales” strategy
Value proposition centers around
price/structure or “client service”
Characteristics:
Meets target level of calls, but
little focus or preparation
“I’ll take whatever I can get”
orientation
Selling 1 product category at a
time, leads with loans
Identification of opportunities
often limited to 1-year time frame
Inconsistent results and
“cycling” pipeline
Characteristics:
Stays focused on targeted lists
Persistent, never gives up
Comfortable at all levels of the C-
Suite
A focus on depth of relationship
Consistently identifies
opportunities (short-term, mid-
term, long-term, explicit and
implied)
Consistently generates results
Characteristics:
Always aware of new opportunities
Always thinking one year ahead
An articulated plan for consistently
developing new opportunities
Long-term, expertise-based
relationships
Characterized by Business Acumen
and Strategizing Relationships
23. MZ BIERLY CONSULTING
What percentage of your Small Business Lenders are in each
stage?
What percentage of your Branch Managers are in each stage?
Do your Sales Managers have the coaching skills, tools and
techniques to get their teams to the next level?
Quick Reality Check
23
25. MZ BIERLY CONSULTING
Managing Market and Relationship Strategies
25
Three Sources of
Business. . .
Three Steps:
Identify, Plan, Execute
Market Management Process
Relationship Building Process
Face-to-Face Meeting Process
27. MZ BIERLY CONSULTING
Adding Value Adds Revenue and Adds Loyalty
27
Company Decision Makers
DDA/Treasury Management Personal DDA/Private Banking
Working Capital, Acquisition Financing Investments
Equipment Loans/Leases Jumbo Mortgage
Commercial Mortgage HELOC
Employee Banking Life Insurance
Investments Retirement Planning/Retirement Plan
401(k) Estate Planning
Liability Insurance
Key Man Insurance, Buy/Sell Agreement
Total: 9 Total: 7
Business Services: 20-years, $3,500,000 in sales
28. MZ BIERLY CONSULTING
1Q2011-4Q2011
Total
Primary Bank Size
Large Banks
(Assets >$50B)
Medium Banks
(Assets $1B-
$50B)
Small Banks
(Assets <$1B)
Product Usage at Any Institution
Total Products Used 7.2 7.2 6.9 7.3
Cash Management and Deposit Services 4.8 4.7 4.6 4.8
Credit Services 1.2 1.0 1.3 1.6
Other Services 1.2 1.4 1.1 0.9
Penetration Ratio
Total Products Used 79% 77% 76% 84%
Cash Management and Deposit Services 83% 83% 81% 90%
Credit Services 76% 70% 69% 80%
Other Services 64% 67% 57% 60%
Small Business Rolling 4 Quarter Data
Q: Please indicate which of the following products and services your company currently
uses at your primary bank and which are used at another bank.
7-3
$100K-<$10MM
Primary Bank has over 75% of Products Used
28
29. MZ BIERLY CONSULTING
The Market Management Model: It Starts with Leads
29
Lead Generation
Qualifying
Proposal
Internal Sale
External Sale
Closed
Transaction
Build Long-
Term
Relationship
Closed Business Out
Opportunities In
30. MZ BIERLY CONSULTING
The Market Management Model
30
Lead Generation
Qualifying
Proposal
Internal Sale
External Sale
Closed
Transaction
Build Long-
Term
Relationship
Comes out the bottom.
What went in the top…
To change the quantity or
quality of what comes out the
bottom. . . Change what goes
in the top.
31. MZ BIERLY CONSULTING
1. A Relationship Development Meeting is a face-to-face meeting that
focuses on two things:
Identifying and developing the Business Owner’s tangible needs
and intangible needs.
Matching your solutions to the developed and agreed-upon
needs.
2. A Marketing Call (or Marketing Touch) is an interaction that keeps
the bank or banker ―top-of-mind‖ with the client/prospect.
An ―overview‖ of Business Owner’s possible needs.
An overview of ―what we do‖.
―If we can help. . . Let me know.‖
Relationship Development Meetings vs. Marketing
Calls
31
32. MZ BIERLY CONSULTING
What percentage of your team’s calls are Marketing
Calls?
What do you have to do to increase the percentage of
Relationship Development Calls?
Reality Check
32
33. MZ BIERLY CONSULTING
Demonstrating Business Acumen doesn’t
happen in 1 or even 2 Meetings.
Building these Relationships require a series
of Relationship Management Meetings that
build momentum. . . and loyalty.
And, requires the interpersonal and
communication skills to “connect the dots”
during the business conversation. . . the
connected dots that build clearly defined next
steps in advancing relationship.
Changing the Conversation to “Business Acumen”
33
Each Relationship Management
Meeting is a Structured
Communication Process
34. MZ BIERLY CONSULTING
Changing the Conversation to “Business Acumen”
34
Step 2 is the most important step for
aligning with the Key Decision
Maker’s Business Strategy,
Business Plan, Business
Objectives, Business Operations
and Business Management
Processes.
2
35. MZ BIERLY CONSULTING
Changing the Conversation to “Business Acumen”
35
1. Where are you banking?
2. What products are you using?
3. How are they priced and structured?
4. What 2 things do you wish your bank
was doing but they’re not?
5. Can I have a copy of your
statements to put together an offer of
how we would handle your
relationship?
Where are the Business Issues here?
These questions focus on products;
comparing your products with a
competitor’s. These questions demonstrate
product acumen!!
Look at these Questions. . .
2
36. MZ BIERLY CONSULTING
Changing the Conversation to “Business Acumen”
36
These questions align with a Key Decision Maker’s
Business Plan, Business Strategy, Business
Objectives, Business Operations and Business
Management Processes. These questions demonstrate
Business Acumen!!
Use this Question Set to Demonstrate Business
Acumen and Build Relationship Momentum
2
37. MZ BIERLY CONSULTING
1. Keys to success
affect current and future
decisions.
3. Industry trends, business
changes in next 3 years.
2. Industry trends affecting the
business today.
4. Current and future
changes force changes in
current and future business
operations.
5. Current and future
changes in business
operations force changes
in current and future
financial operations.
6. Changing financial
operations create changes in
the financial needs and then
an evaluation of the solutions
currently in place.
“Think Like the Business Owner”
37
39. MZ BIERLY CONSULTING
High Appeal Industries Limited Appeal Industries
Manufacturers Real Estate Investment
Wholesalers Low-End Retail
Distributors Restaurants
Architect, Engineering and Business Service
Firms
Mini-Warehouses/Carwashes
Law Practices Landscaping
Accounting Firms Service or Gas Stations
Insurance Brokers or Firms Used Car Dealerships
Large General Contractors
Medical, Dental and Health Practices
Define Your Core Relationship Profile
39
40. MZ BIERLY CONSULTING
Business Characteristics
In business over 3 years
Sales revenue between $500,000 and $2,500,000
Employing more than 5 people
Location within footprint
Privately held with experienced management team
Borrowing needs under $500,000
Profitable (Net Profit After Tax) for the last year
Leverage (Debt-to-Worth) less than 3 to 1
Deposit balances average more than $25,000
Using or needing 5 or more business banking/consumer banking product categories
Define Your Core Relationship Profile
40
41. MZ BIERLY CONSULTING
Retention Relationships are clients who meet these criteria:
Have good credit quality,
and are
In top 10% of aggregate loans and deposit balances,
Your Bank has >60% of the loans and deposits of the business.
Expansion Relationships are clients who meet these criteria:
Have good credit quality and match the Core Relationship Profile,
and are
Your Bank has less than <60% of the loans and deposits of the business,
and have
Significant cross-sell/up-sell opportunities in next 18 months.
Segment Your Business Customer Relationships
41
42. MZ BIERLY CONSULTING
Define the annual activity for Retention, Expansion and Prospect
Relationships.
Target 5 calls per week [60% of the calls to be proactive].
Target the right mix of pre-scheduled appointments:
• % with Retention, Expansion and Acquisition Relationships
• % of joint calls
• % of calls with referral sources or others in network
Be Clear About Call Activity/Call Mix
42
44. MZ BIERLY CONSULTING
Relationship Expansion Process Initiatives
44
These are the 7 Elements in
that drive a Relationship
Expansion Process.
These are the process
elements that drive Banker
Success in the building a
Brand. . . and is the result of
consistent execution.
45. MZ BIERLY CONSULTING
Expansion Relationships
45
Determine possible opportunities.
Use a Relationship Profiling Model
to Identify and Follow-up on
opportunities to strengthen
Expansion Relationships.
46. MZ BIERLY CONSULTING
Build a Client Folder with:
• Industry Trends and Data (VerticaIQ/First
Research/eMentor/IBISWorld)
• Trade association data on the industry
• The company’s web site
• News articles on the Business and Business Owner
• Bank-specific information about the industry (e.g. Sample call
plan templates, case studies, product brochures, etc.)
Identify the Opportunities for Expansion
46
48. MZ BIERLY CONSULTING
Overemphasizing prospecting. . . ―Don’t forget your Key and High Potential
Clients.‖
Not providing direction on which prospects to target. . . ―Build a list of the
prospects you want to do business with.‖
Not coaching bankers on how to leverage their network (and that includes
senior management, directors, etc.). . . ―Use client referrals and testimonials
to get appointments.‖
Not having a process for generating leads. . . ―Coach the top of the funnel.‖
The Super-Rep Syndrome. . . ―Teach them all to fish.‖
Not understanding your bankers’ default value propositions . . . ―Coach to
the value proposition that you believe in.‖
Defining success too narrowly. . . ―Celebrate the small victories.‖
7 Mistakes Sales Leaders Make
48
49. MZ BIERLY CONSULTING
Not having a ―Vetted‖ Prospect List. . . ―Build a list of the Businesses you
want to do business with.‖
Not using their network. . . ―Using client referrals and testimonials to get
appointments.‖
Not having a defined strategy. . . ―Building relationships based on Value
Added.‖
Planning one meeting at a time. . . ―Always plan 2 calls at a time, gin up the
interest in the next meeting before you leave their office.‖
Not preparing ―cognitively‖. . . ―Being prepared is a huge differentiator and
adds value.‖
Using the wrong question set. . . ―Use questions that add value.‖
Selling to the first need. . . ―It takes multiple needs to build enough
momentum to overcome inertia.‖
7 Mistakes Bankers Make in Prospecting
49
50. MZ BIERLY CONSULTING
6 Steps for Building New Relationships
50
1. Build a Vetted Prospect List
2. Select the first 5 Prospects you
want to focus on
3. Build a Relationship Strategy,
Plan the first 3 Meetings for the
selected Prospects
4. Use a Testimonial Referral to
Get the 1st Appointment
5. Debrief the 1st Meeting, adjust
the Plan for the 2nd and 3rd
Meeting. Keep a focus on what
is changing (not ―optimized‖)
6. Deliver 1 or more “Optimized
Solutions” in the 3rd Meeting
51. MZ BIERLY CONSULTING
―It's Marketing's job to provide us leads.‖
―Get me a better list.‖
• A list of businesses that want to change banks now!
• ―The list isn’t perfect. . . there are dead people on here!‖
Focus on former customers from ―my old bank‖.
Each Banker builds his own prospect list.
• Not sharing it with other team members for feedback.
Rely on a single source for prospect names.
―I have an amazing mind, I can keep it all in my head.‖
Bad “Best Practices” for Building Prospect Lists
51
53. MZ BIERLY CONSULTING
D&B Strategic Marketing Database or Zapdata.com (Hoovers Lead Builder)
ReferenceUSA
Local Industrial Development Authority (electronic version)
UCC Filings (there are compilation services)
Local Business Publication directories (not always a good choice, too
visible)
Guidestar.org (a great source for 501C3s)
Trade Association Memberships or Websites (a few examples)
• American Society of Association Executives (www.asaenet.org/find/)
• American Dental Association directory (www.ada.org)
• American Institute of Architects directory (www.AIA.org)
• State and local trade association listings
Use Multiple Sources for Your Prospect List
53
54. MZ BIERLY CONSULTING
Recent studies in the banking industry show that Business Owners are
more than willing to help you. . .
66% of Business Owners are willing to provide referrals to Bankers.
But to get the referral you will have to ask; most Bankers don’t ask.
Only 22% of small-to-medium-size Business Owners have been
asked for a referral in the past 24 months.
Only 37% of Middle Market Decision Makers have been asked for a
referral in the past 24 months.
Is a Consistent Flow of Referrals a Possibility?
54
55. MZ BIERLY CONSULTING
Small Banks’ Ratings on Willingness to Refer Have Improved,
While Medium Bank’s Ratings Declined
55
67% 66% 68%
72% 71%71%
63%
70%
47%
60%
56%
59%
64%
61%
63% 57%
43%
40%
41% 41% 41% 40%
35% 36%
75%
70%
65%
60%
55%
50%
45%
40%
35%
30% 2005 2006 2007 2008 2009 2010 2011 2012
Note: Bank trending data is representative of bank organization in 4Q2012.
Small Business Trailing 4 Quarter Data
%Agree
Strongly
Small Banks
(Assets
<$1B)
Medium Banks
(Assets $1B-
$50B)
Large Banks
(Assets
>$50B)
Small banks have improved on willingness to refer and are currently at 70% agree
strongly, while medium banks dropped to 57%.
$100K-<$10MM
Q: Please indicate how strongly you agree or disagree with each statement. I would
refer a company with similar needs to my primary bank.
56. MZ BIERLY CONSULTING
Why do Business Owners provide referrals?
They may like to help other business people.
They may want to be ―heroes‖ to their friends and business partners.
They understand that it’s the best way to grow business for them
and for you.
They may see referrals as a way to ―pay you back‖.
The Whys of Referrals
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Why don’t Bankers ask for referrals?
The quality of referrals isn’t always the best.
They don’t want to ―harass‖ good clients.
They’re not sure whom to ask; they’re not sure when to ask.
They don’t have a process for asking!
The Whys of Referrals
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Why don’t Bankers ask for referrals?
The quality of referrals isn’t always the best.
They don’t want to ―harass‖ good clients.
They’re not sure whom to ask; they’re not sure when to ask.
They don’t have a process for asking!
http://www.mzbierlyconsulting.com/how-to-ask-customers-for-quality-
referrals
The Whys of Referrals
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1. Wait and See: ―If I continually provide outstanding service. . . when
they hear of an opportunity they’ll give me a call.‖
2. Let them know I’d like a referral: ―Jack, if you think of anyone who
would be a good a match for me and the Bank I’d love to talk with
them. Let me know if you think of anyone.‖
3. Proactively ask for an Introduction: ―Jack, there are a several
people in the area I’m trying to meet. I was hoping I could run their
names by you. . .‖
Asking for Referrals
There are multiple ways to build a Network Referral Process. . . but
one works better than the others. Here are the three most prevalent:
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Industry information
Financial information
Website
Call planning templates
Simplified relationship plans
Cash cycle maps
LinkedIn
Use tools that make you look good
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These are your Meeting Objectives for the Business Operations Meeting:
1. Demonstrate your knowledge and understanding of some of the key issues in the industry sector of the
business.
2. Understand the keys to success used to build the business.
3. Understand the current [1-year] business objectives of the business.
4. Understand the future [3-year] business objectives.
5. Understand the day-to-day business operations of the business.
6. Understand how his business objectives and business operations will change over the next year, the next
3 years.
7. Identify three needs, short-term, mid-term or long-term; summarize and then prioritize the needs; use the
top prioritized need to get the next appointment.
8. As a part of the next meeting, frame a Financial Operations Discussion (with key parties) to review the
current cash-cycle and potentially to offer ideas for optimizing collections, disbursements and working
capital management.
First Call Objectives — Use a Template
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Reacting to Opportunities Developing New Opportunities
Stage 1 Stage 2 Stage 3 Stage 4
Stance:
Waiting for opportunities to come
in
Stance:
Proactively seeking opportunities
part of the time
Stance:
Seeking qualified opportunities
regularly
Stance:
Actively building market share,
wallet share and developing
opportunities
Methods:
Walk-ins
Irregular lead generation
Referrals from a few long-time
customers or “well-worn” referral
sources
Lead generation is largely
reactive
Product-focused client
discussions
Methods:
Some referrals from customers
Generating leads from any and all
businesses
Identifying and building new
referral sources
Focuses at the Business/Office
Manager Level
Focuses primarily on product
issues
Methods:
Focused and proactive lead
generation
Effective use of testimonial referral
sources
Focuses at Business Owner level,
builds Level 3 or 4 relationships
Has effective Market and
Relationship Strategies
Effectively uses Business Partners
to build relationships
Methods:
Actively building a referral
network and effectively using it
Actively working the best clients
and prospects
Actively building niches
Consistently uses Business
Acumen as a Value Proposition
Highly effective at adjusting lead
sources and building a brand
Characteristics:
Infrequent calling, little planning
or structure to calling effort
Works “whatever is in front of me”
focus
Focuses on credit/product
strategy first then “sales” strategy
Value proposition centers around
price/structure or “customer
service”
Characteristics:
Meets target level of calls, but
little focus or preparation
“I’ll take whatever I can get”
orientation
Selling 1 product category at a
time, leads “scorecard” product
Identification of opportunities
limited to 1-year time frame
inconsistent results and
“cycling” pipeline
Characteristics:
Stays focused on targeted lists
Persistent, never gives up
A focus on depth of relationship
Completely comfortable with
Business Operations and Financial
Operations Conversations
Consistently identifies opportunities
(short-term, mid-term, long-term)
Consistently generates results
Characteristics:
Always aware of new
opportunities
Always thinking one year ahead
An articulated plan for
consistently developing new
opportunities
Long-term, expertise-based
relationships
Direction: Build the Activity
Guidance: Build the Quality
Support: Remove the Barriers
Coaching the Stages. . . Bi-Weekly
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The ―End State‖ of Stage 1 is learning to Connect with the Business Owner.
The Banker is ready for Stage 2 Coaching when she consistently demonstrates
these skills:
Comfortable on the Business Owner’s ―turf‖.
Confident talking about business operations [not just products] with the
Business Owner.
Convinced he has ―something of value‖ [beyond just products].
Assertive enough to ―lead‖ the meeting with the Business Owner.
These skills typically require 75 to 125 calls to learn—for more insights go to:
http://www.mzbierlyconsulting.com/small-business-strategy-coaching-branch-
managers
Coaching Stage 1 (to Stage 2)
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Keep the Banker Targeted. Build and ―Vet‖ a list of 35 to 50 Businesses
(the Targeted Business List). Use these lists to build the Targeted Business
List: the Banker’s current Retention, Expansion and Other Lists.
Begin to “encourage” planning. Ask the Banker to build a Client Folder
for each Relationship before contacting the Business Owner [they probably
won’t, it’s OK for now].
Ask the Banker to review the Client Folder and to use one of the Quick
Reference Guides for each call [they probably won’t, it’s OK for now].
Coaching Stage 1 (to Stage 2)
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In each bi-weekly coaching session, debrief 2 or 3 meetings the Banker had in
the last 2 weeks. Debrief the meetings by asking all of these questions, in this
sequence:
―How did the meeting go?‖
―Did you find any opportunities during the meeting?‖
―What did you learn about the industry that this business operates in?‖
―What did you learn about the Business Owner’s business objectives today,
over the next year, over the next 3 years?‖
―What did you learn about the day-to-day business operations of this
business?‖
―What did you learn about the Business Owner and what he/she ―values‖?
―How did the Business Owner describe the value proposition he uses in his
business?‖
Coaching Stage 1 (to Stage 2)
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Re-Establish the ―Priorities‖ every Monday Morning.
Use Monday Morning Sales Meetings to continually re-establish the priority
of ―meeting with‖ and ―learning about‖ the targeted businesses.
A conference call is OK.
The Small Business segment of your sales meeting should not exceed 30
minutes.
The ―accountability‖ topics for Stage 1 Team Members are these. Ask each
Stage 1 Team Member 2 of these 3 questions (ask the Stage 2 Team
Members their questions, not these):
• ―What targeted businesses are you calling on this week?‖
• ―Pick 1 targeted business you met with last week, what did you learn
about the business and its operations?‖
• ―Are you finding any opportunities in your meetings with the businesses
on your targeted lists?‖
Coaching Stage 1 (to Stage 2)
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Visit Our Website
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After the conference take a few minutes to
explore our website. . .
And register for our email newsletters and blog.
Each month you’ll get suggestions, tips, and
how-to’s to fine-tune your sales and sales
leadership processes.
Find out about our archived webinars on sales
and sales leadership topics.
To find out more about our resources for small
business banking teams go to
www.mzbierlyconsulting.com or call Ned Miller
at (610) 296-4772 or email him at
nmiller@mzbierlyconsulting.com
Bonus offer: Article on ―How to Improve the
ROI on Training Branch Managers‖ at
http://www.mzbierlyconsulting.com/a-winning-
strategy/