As a Business Finance Consultant, every day my experiences of the last 41 years in banking gets put to the test. I have always believed that banking can and is a very personal thing. When it is about people the client experience is greatly enhanced. Those experiences, have taught me many lessons. As an example, one of the most important ones is the need to listen carefully to what is being said and in some cases what clients are not saying. It is finding out truly what the need is and then offering products to that client which will meet those needs. Listening is also a life lesson that some struggle with including me at times over the years. When we become better listeners the right outcomes have a much better chance of occurring.
Over the years, it was very early that clients generally have no idea why financial institutions ask for certain things while assessing a finance request for their business, and generally a poor job is done in explaining the why’s behind the information requested. As part of our service, we try to educate business owners on why financial institutions ask for certain things, and what might be the implications of those asks. We also emphasize the need to negotiation on all matters as it is in their best interest and should never be off the table until a formal commitment has been presented and accepted.
A key component of our service is to listen to where your company is today, and where it is headed in the future. We want to know what plans you have to get it there, and how having the right financial partner is always key. We engage business owners in all aspects of their business including asking the question most avoided these days “what is your exit strategy for your business and what is the timeline”. This is one aspect that business owners given the time constraints on them usually don’t pay much attention to, but the timeliness can be somewhat protracted and there are many issues for a business owner to consider including tax implications when it is time to exit their business.
With all information on hand, and with the contacts of experts available to us, we can then map out the best way to accomplish the request/goals you may have as well as the most appropriate way to make them a reality. Checkpoints along the way ensure we remain on track, with experts brought in as required at certain key points. We all know that things change so flexibility in any plan is required.
As a professional in the industry for more than 41 years, I know how important it is to for a business owner to have the right financing relationship in place. One where you can rely on your financial institution to have your back both in the good times and the inevitable downturns that comes with our economic cycles. A good financial partnership is critical and should always be open to ongoing communication.
You are busy and focused on your business as you should be. So that is where we come in. We do all of the legwork for you in finding the right financier, which includes finding a suitable person who will take the time to understand your business as well as the industry in which you operate. In an economic downturn, you don’t want or need any surprises.
Contact me at mikelabrecque.com or as shown below. We can help. Let us show you how.
Business Finance Consultant
Labrecque Business Consulting
P.O. Box 20067
Qualicum Beach, B.C. V9K 0B1