How to manage your bank

With a nod to Gary Vaynerchuk

I’m a lover of books and am always reading something new. Recently, my good friend @chrismarr101 recommended @garyvee’s latest book Jab, Jab, Jab, Right Hook! In no time Amazon had delivered it and I was pouring through its’ pages. It’s a good book — if you’re in business you should definitely read it.

Today I had a meeting with the bank manager for an important client of mine. After discussing the majority of our agenda points I asked him “what can I do to help you?”. He looked flumoxed — I don’t expect he gets customers asking him that too often.

After a moment or two he answered — “information. Tell me stuff, not just about the accounts but news about the business. Big contract wins. New members of staff. Tell me about your plans to open a new office. And yes, let me have the management information every month, everything you’ve got including budgets, cashflow forecasts and the management accounts.”

The reason? Knowing what’s going on, that we’re moving forward and that we’re on top of the numbers makes us a safer risk for the bank. And when we need a favour or we need their help to fund a cashflow blip or a major project, it won’t come as a surprise and we’ll have built up a relationship and credibility with the bank.

As Gary would say, keep jabbing — in this situation providing ‘content’ to the bank, then when we need to play the Right Hook, it’s almost a no-brainer for the bank. Jab, Jab, Jab, Right Hook!