The celebration involved cake and tea the other day, as a small business owner spoke with us of her delight at maintaining a steady growth in her business. Confidence about the coming few months wasn’t quite as strong as the tea, but the controls implemented, during the last 9 months, could be as significant to the business as implementing control over not having that extra slice of cake on a cold day.
By adopting the attitudes of the big five banks, this particular business can give itself some credit.
3 Big Bank Ideas for Your Business
- Bankers have detailed and accurate knowledge of economic and market trends – Ensure that you have the same for your business; know it inside out.
- These Banks ensure they concentrate their customers and potential customers to only use them when sourcing products – Ensure that your customers only consider you as an option.
- Additional services provided, such as internet, phone banking or being allocated a bank manager are good ways of keeping customers updated, informed and enables issues to be resolved – Ensure you offer your customers a service standard you’d expect for yourself.
Banks aren’t the most efficient mechanism for distributing capital to small business any more; their inflexible model doesn’t have to be the way to shape your business, or direct your decisions, however, deciding to adapt some of their practices might profit your business growth.
Image credit: Keith Williamson Article credit: Copyright SUF