The 7 Steps to the Best Banking Relationship

By Fernando Blanco and Luiz Calado

Introduction

In today's fast-paced business world, having a strong banking relationship is essential for success. A good bank can provide you with the financial resources and services you need to grow your business, and can also be a valuable partner in your financial planning.

However, building a strong banking relationship takes time and effort. It's not just about finding a bank that offers the best rates and fees. You also need to find a bank that you can trust and that understands your business needs.

The 7 Steps to the Best Banking Relationship

In their book, The 7 Steps to the Best Banking Relationship, Fernando Blanco and Luiz Calado outline the seven key steps you need to take to build a strong and lasting relationship with your bank. These steps include:

1. Do your research. Before you start talking to banks, it's important to do your research and understand your own financial needs. What are your short-term and long-term financial goals? What kind of services do you need from a bank? Once you know what you're looking for, you can start to narrow down your options.
2. Meet with potential banks. Once you've identified a few potential banks, it's time to start meeting with them. In these meetings, you'll have the opportunity to learn more about the bank's products and services, and to get a feel for the bank's culture. It's important to be honest and upfront about your financial needs and goals.
3. Compare offers. Once you've met with a few banks, you'll need to compare their offers. This includes comparing interest rates, fees, and other terms and conditions. It's also important to consider the bank's reputation and customer service.
4. Choose a bank. After you've compared offers, you'll need to choose a bank. This is a big decision, so it's important to take your time and make sure you're comfortable with your choice.
5. Build a relationship. Once you've chosen a bank, it's time to start building a relationship. This means getting to know your banker and other bank employees, and staying in touch with them on a regular basis. The more you communicate with your bank, the better they'll understand your needs and be able to serve you.
6. Use your bank's services. Once you've built a relationship with your bank, it's time to start using their services. This could include opening a checking or savings account, getting a loan, or using the bank's online banking services. The more you use your bank's services, the stronger your relationship will become.
7. Be a loyal customer. The best way to maintain a strong banking relationship is to be a loyal customer. This means paying your bills on time, keeping your account balances healthy, and using the bank's services regularly. The more loyal you are to your bank, the more likely they are to be loyal to you.

Conclusion

Building a strong banking relationship takes time and effort, but it's worth it. A good bank can be a valuable partner in your financial success. By following the 7 steps outlined in this book, you can increase your chances of building a strong and lasting relationship with your bank.

Call to Action

If you're ready to start building a better banking relationship, order your copy of The 7 Steps to the Best Banking Relationship today. This book will show you how to find the right bank, build a strong relationship, and use your bank's services to your advantage.