Recently, I had lunch with our banker. During the meeting, I asked her what she wanted to accomplish when meeting with her customers. She said that she wanted to know the 3 questions your banker wants answered…
What actions have you already taken to address any impact? Have you identified your next steps? How will those actions impact the financial statements?
In establishing banking relationships and making loans, bankers look to the 5 Cs of Credit for guidance. The most important of those Cs is Character. Character covers not only your personal character but also your business competence. It also covers your management team.
How are your conversations going with your banker? Leave us a comment below.
Now’s the time to really think like a financial leader. Download our three best tools in the company to start speaking the CFO language.
[box]Strategic CFO Lab Member Extra
Access your Strategic Pricing Model Execution Plan in SCFO Lab. The step-by-step plan to set your prices to maximize profits.
Click here to access your Execution Plan. Not a Lab Member?
Click here to learn more about SCFO Labs[/box]