Why every Black Entrepreneur needs a Banker Buddy

By Johnny Palmer
 
Do you have a Banker Buddy? You do know what a Banker Buddy is right? A Banker Buddy is a personal business banker that tends to your needs as a Black Entrepreneur running a small Black Business. Do you have a relationship with such a person or are you like so many other Black Entrepreneurs that see the bank as simply a non-personal place to transact deposits and withdrawals? If you do in fact claim to have a relationship with a business banker, do you know anything about them personally like information about their family or their hobbies? Would you believe me if I told you that knowing the preceding information could lead to your financial success as a Black Entrepreneur?
 
A personal relationship with your business banker can lead to lower or no fees on business items such as checking accounts, credit cards, legal services and even business lines of credit. Often, banks have special promotions that are not visible to their general account holders. We have all seen the movies where the entrepreneur takes the banker out on golfing trips or on lunch dates in order to strengthen their relationship. Why are you not doing these things?
 
As a Black Entrepreneur, if you don’t already have a strong relationship with your banker, you should make an appointment to discuss your business needs and ask for suggestions on how the bank can assist you in meeting your business goals. If possible, make this a lunch meeting in order to get your banker into a friendlier more comfortable setting. Be sure to take along a copy of your business plan and marketing plans so that you can get the banker’s input on your business goals. Also, be sure to ask a few personal questions like how did the banker first get involved in banking and ask about their hobbies and interests. You will be surprised what will happen when you establish a sincere personal relationship with your banker.
 
Let me know how your meeting goes!
 
About the author:
Johnny Palmer is the Founder and CEO of Blackentrepreneurship.com – The World's #1 Resource for Black Entrepreneurs. You’ll find the latest news for Black Entrepreneurs and information helpful to Black Businesses of all types. On the site there is even a Hall of Fame featuring famous Black Entrepreneurs of the past and present. Don’t forget to sign up to receive your free subscription to The BlackEntrepreneurship.com Newsletter