From the course: Leading a Small Business through a Crisis
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Communicating to the bank during uncertain times
From the course: Leading a Small Business through a Crisis
Communicating to the bank during uncertain times
- It's amazing to me how many small-business owners don't know a real human at their bank. They set up bank accounts online, do all of their banking virtually, and they've never actually met someone. If this sounds like you, times are about to change. Get ready to get cozy with your banker. First, identify who your banker is. You might not realize this, but when you set up an account with a bank, you are assigned a real person. Find out who this person is and make an appointment with them, either in person or on the phone. We want to make sure that your business has a face and a name associated with it. Next, you're going to disclose everything that's going on in your business with your banker, the good, the bad, the ugly, especially when it comes to cash flows. This is going to be imperative so that your banker gets a clear understanding of exactly where you are in your business. Lastly, you're going to want to ask…
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