K.I.T. Maintaining good relations with your bank even when you don't need money from them
By George M. Dawson •
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Q: We own an insurance agency, and we find we don't needmuch from our bank now. How do we maintain good relations?
A: The cold reality: The bank doesn't need you at all. Youmust take the initiative to keep in touch. I endorse the followingnine-point program:
1. Keep the lines of communication open with your overworkedaccount officer. Make an appointment to deliver and briefly reviewyour current business and personal financial statements. Give himor her a short history of your company and your current businessplan. Be responsible for educating the officer about your industry.Wait a few months, and invite him or her to lunch. It'sdeductible.
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