Building Momentum with Small Businesses

MZ BIERLY CONSULTING

Building Momentum

with Small Businesses

Strategies for Acquiring and Retaining

Business Clients

Ned Miller MZ BIERLY CONSULTING, INC.

610-296-4772

[email protected]

www.mzbierlyconsulting.com

mailto:[email protected]

http://www.mzbierlyconsulting.com/


Notice

This publication is protected by copyright. It is licensed for a single user. It is

licensed for internal use only.

Copyright © 2008 – 2013 MZ BIERLY CONSULTING, INC.

ALL RIGHTS RESERVED

2


It’s a changing environment – and it’s the right time to focus on the

Small Business Market.

Recent Research on what Small Business Owners want from their

Small Business Bankers.

4 Key Initiatives for Banks Interested in building sustainable results

in the Small Business Market.

Resources/tools to help.

Q&A (as time permits).

Our Discussion Today

3


The “trust issue” that was part of the recession has many small

business owners “looking around” for a “relationship” they can trust.

Business owners are pessimistic about future operating

environment.

Everybody is trying to get in the small business lending game.

Approval rates are inching up.

Larger banks are hiring small business bankers; banks of all sizes

are pushing branch managers out of the branch trying to get more

feet on the street.

The Big Picture

4


Primary Bank Satisfaction Declined at Medium Banks

5

© 2013 All Rights

Reserved.

74%

69% 71%

73% 73%

75%

72% 73%

58%

61%

65% 64% 67%

65% 67%

64%

50% 48%

49% 51% 50% 49%

44% 46%

40%

45%

50%

55%

60%

65%

70%

75%

80%

2005 2006 2007 2008 2009 2010 2011 2012

Note: Bank trending data is representative of bank organization in 4Q2012.

% V

ery

Sa

tis

fie

d

Small Banks

(Assets

<$1B)

Medium Banks

(Assets $1B-

$50B)

Large Banks

(Assets

>$50B)

Medium banks had a decline in delight from the prior year and are now at 64%.

Small Business Trailing 4 Quarter Data

$100K-<$10MM

Q: Overall, how satisfied are you with your company’s primary bank?


Prospecting Model: The Satisfaction Curve

6

All Relationships go through

periods of Satisfaction and

Dissatisfaction.


Prospecting Model: The Satisfaction Curve

7

“RQS” Shoppers make

changes in banking

relationships at the bottom

of the curve.

RQS = Relationship, Quality or Service Shoppers


Large Banks Score 11% or More Below Medium Banks

8

40% 41%

29%

22% 29% 24%

0%

10%

20%

30%

40%

% A

gre

e

Str

on

gly

The gap between large and small banks is widest on the attitudes: will stand by us in tough

times, effectively meets our credit needs and has competitively priced service charges. $100K-<$10MM

90% Q: Please indicate how strongly you agree or disagree with each statement. My primary bank…

79% 74%

65%

76% 73%

78%

62%

57%

62%

52%

70% 66% 64% 65%

44% 44% 50% 53% 51%

47% 54%

50%

60%

70%

80%

Small Banks

(Assets

<$1B)

Medium Banks (Assets $1B- $50B) Large Banks

(Assets

>$50B)

+4%

+5%

+3%

1Q2012-4Q2012 Small Business Rolling 4 Quarter Data

= arrows denote change since previous year

-6%

+6% +5%

+5%

+5%

+9%

-5%

Is responsive Is easy to do Appreciates Gets things Is financially Effectively Will stand by Has Has

to requests or business with our business right the first stable meets credit us in tough competitively competitive

questions time needs times priced service

charges

rates and fees

on loans


Market Research

9


Who is your toughest competition today in the small business

market? Why?

Quick Question

10


Big Banks?

11

“We are competing on price. It’s

a function of the market. If there

is a client we want, we will be

competitive on price.”

Ergetu Merete, Business Banking

Division Manager for Philadelphia Area

Business Journal, September 2012


Independent Banks?

12


• Teaneck, N.J.'s Cross River Bank, which holds $199 million in

assets, is responding to pressure to gain business customers by

going door-to-door, pitching 0 percent loans to dry cleaners, spas,

and medical offices in the city. Cross River Bank Chairman and

interim CEO Gilles Gade says the program, which has about $1

million to lend initially, is primarily meant to shore up goodwill in the

community and net more long-term business customers. The bank

has so far written about 20 one-year loans for amounts ranging from

$5,000 to $20,000, Gade says.

From "N.J. Bank Hits the Streets With Door-to-Door Lending Campaign"

American Banker (08/09/12)

Idiot or Genius?

13


Each banker has a Default Value Proposition

1. Low-Price/Low-Structure Provider

“Tell me what you have at your current bank . . . we’ll beat it.”

2. Service

“We’ll be accessible and responsive. You’ll think you’re my only

client.”

3. Business Acumen (Business Experience and Expertise)

“I’ll understand your business, help you anticipate your needs,

and help you navigate through increasingly complex financial

choices. . . better than any other banker.”

Values and Value Propositions

14


This study correlates skills with

“Customer Satisfaction” and with

the likelihood a Business Owner

would refer you to other

Business Owners. Data from the Enterprise Council on Small Business

Business Owners and Business Acumen

15


The Key Skills

from the Study.

Data from the Enterprise Council on Small Business


16


The Questions

that drive results

and satisfaction.



17


The Key

Questions that

drive satisfaction.



18


Data Courtesy of the Enterprise Council on Small Business

Relationship

Development

Strategies that

drive satisfaction.


19


Level of Relationship is Based on Value Drivers

20

Not all Decision Makers want the same level of relationship with an RM.

Adding Value is based on matching the value driver of a Decision Maker.

Value Drivers. . . What the Decision Maker is looking for

5

1

2

3

4


What Does it Take: Building

Relationship Management Skills

21

Reacting to Opportunities Developing New Opportunities

Stage 1 Stage 2 Stage 3 Stage 4

Stance:

Waiting for opportunities

Stance:

Proactively seeking opportunities

part of the time

Stance:

Seeking qualified opportunities

regularly

Stance:

Actively building market share, wallet

share and developing opportunities

Methods:

Walk-ins

Irregular lead generation

Referrals from a few long-time

clients or “well-worn” referral

sources

Lead generation is largely reactive

Product-focused client discussions

Methods:

Some referrals from clients

Generating leads from any and

all businesses

Identifying and building new

referral sources

Focuses at Controller or VP

Finance Level

Focuses on “financial issues”

Sees role as sole “executor” of

relationship

Methods:

Focused and proactive lead

generation

Effective use of testimonial

referral sources

Focuses at “C-Suite” level, builds

strategic relationships

Sees role as “strategist”

Effectively uses Bank’s Senior

Management to build

relationships

Methods:

Actively cultivating referral network

and systematically using it

Actively working the best clients and

prospects

Always seeking new “niche”

opportunities

Consistently uses Experience and

Expertise as a Value Proposition

Highly effective at adjusting lead

sources and a building brand

Characteristics:

Infrequent calling

Little planning or structure to

relationship management process

Works “whatever is in front of me”

Focuses on credit/product strategy

first then “sales” strategy

Value proposition centers around

price/structure or “client service”

Characteristics:

Meets target level of calls, but

little focus or preparation

“I’ll take whatever I can get”

orientation

Selling 1 product category at a

time, leads with loans

Identification of opportunities

often limited to 1-year time frame

Inconsistent results and

“cycling” pipeline

Characteristics:

Stays focused on targeted lists

Persistent, never gives up

Comfortable at all levels of the C-

Suite

A focus on depth of relationship

Consistently identifies

opportunities (short-term, mid-

term, long-term, explicit and

implied)

Consistently generates results

Characteristics:

Always aware of new opportunities

Always thinking one year ahead

An articulated plan for consistently

developing new opportunities

Long-term, expertise-based

relationships

Characterized by Product Acumen and

Strategizing Transactions


What Does it Take: Building

Relationship Management Skills

22



Stance:

Waiting for opportunities

Stance:


part of the time

Stance:


regularly

Stance:

Actively building market share, wallet

share and developing opportunities

Methods:

Walk-ins

Irregular lead generation

Referrals from a few long-time

clients or “well-worn” referral

sources



Methods:

Some referrals from clients

Generating leads from any and

all businesses


referral sources

Focuses at Controller or VP

Finance Level

Focuses on “financial issues”

Sees role as sole “executor” of

relationship

Methods:


generation

Effective use of testimonial

referral sources

Focuses at “C-Suite” level, builds

strategic relationships

Sees role as “strategist”

Effectively uses Bank’s Senior

Management to build

relationships

Methods:

Actively cultivating referral network

and systematically using it

Actively working the best clients and

prospects

Always seeking new “niche”

opportunities

Consistently uses Experience and

Expertise as a Value Proposition


sources and a building brand

Characteristics:

Infrequent calling

Little planning or structure to

relationship management process

Works “whatever is in front of me”

Focuses on credit/product strategy

first then “sales” strategy


price/structure or “client service”

Characteristics:




orientation


time, leads with loans


often limited to 1-year time frame

Inconsistent results and


Characteristics:



Comfortable at all levels of the C-

Suite


Consistently identifies

opportunities (short-term, mid-

term, long-term, explicit and

implied)


Characteristics:

Always aware of new opportunities


An articulated plan for consistently

developing new opportunities


relationships

Characterized by Business Acumen

and Strategizing Relationships


What percentage of your Small Business Lenders are in each

stage?

What percentage of your Branch Managers are in each stage?

Do your Sales Managers have the coaching skills, tools and

techniques to get their teams to the next level?

Quick Reality Check

23


Managing Market and Relationship Strategies

24


Managing Market and Relationship Strategies

25

Three Sources of

Business. . .

Three Steps:

Identify, Plan, Execute

Market Management Process

Relationship Building Process

Face-to-Face Meeting Process


Are You Taking Care of Your Customers?

26


Adding Value Adds Revenue and Adds Loyalty

27

Company Decision Makers

DDA/Treasury Management Personal DDA/Private Banking

Working Capital, Acquisition Financing Investments

Equipment Loans/Leases Jumbo Mortgage

Commercial Mortgage HELOC

Employee Banking Life Insurance

Investments Retirement Planning/Retirement Plan

401(k) Estate Planning

Liability Insurance

Key Man Insurance, Buy/Sell Agreement

Total: 9 Total: 7

Business Services: 20-years, $3,500,000 in sales

MZ BIERLY CONSULTING 1Q2011-4Q2011

Total

Primary Bank Size

Large Banks

(Assets >$50B)

Medium Banks

(Assets $1B-

$50B)

Small Banks

(Assets <$1B)

Product Usage at Any Institution

Total Products Used 7.2 7.2 6.9 7.3

Cash Management and Deposit Services 4.8 4.7 4.6 4.8

Credit Services 1.2 1.0 1.3 1.6

Other Services 1.2 1.4 1.1 0.9

Penetration Ratio

Total Products Used 79% 77% 76% 84%

Cash Management and Deposit Services 83% 83% 81% 90%

Credit Services 76% 70% 69% 80%

Other Services 64% 67% 57% 60%

Small Business Rolling 4 Quarter Data

Q: Please indicate which of the following products and services your company currently

uses at your primary bank and which are used at another bank.

7-3

$100K-<$10MM

Primary Bank has over 75% of Products Used

28


The Market Management Model: It Starts with Leads

29

Lead Generation

Qualifying

ProposalInternal Sale

External Sale

Closed

Transaction

Build Long-

Term

Relationship

Closed Business Out

Opportunities In


The Market Management Model

30

Lead Generation

Qualifying

ProposalInternal Sale

External Sale

Closed

Transaction

Build Long-

Term

Relationship

Comes out the bottom.

What went in the top…

To change the quantity or

quality of what comes out the

bottom. . . Change what goes

in the top.


1. A Relationship Development Meeting is a face-to-face meeting that

focuses on two things:

Identifying and developing the Business Owner’s tangible needs

and intangible needs.

Matching your solutions to the developed and agreed-upon

needs.

2. A Marketing Call (or Marketing Touch) is an interaction that keeps

the bank or banker “top-of-mind” with the client/prospect.

An “overview” of Business Owner’s possible needs.

An overview of “what we do”.

“If we can help. . . Let me know.”

Relationship Development Meetings vs. Marketing

Calls

31


What percentage of your team’s calls are Marketing

Calls?

What do you have to do to increase the percentage of

Relationship Development Calls?

Reality Check

32


Demonstrating Business Acumen doesn’t

happen in 1 or even 2 Meetings.

Building these Relationships require a series

of Relationship Management Meetings that

build momentum. . . and loyalty.

And, requires the interpersonal and

communication skills to “connect the dots”

during the business conversation. . . the

connected dots that build clearly defined next

steps in advancing relationship.

Changing the Conversation to “Business Acumen”

33

Each Relationship Management

Meeting is a Structured

Communication Process



34

Step 2 is the most important step for

aligning with the Key Decision

Maker’s Business Strategy,

Business Plan, Business

Objectives, Business Operations

and Business Management

Processes.

2



35

1. Where are you banking?

2. What products are you using?

3. How are they priced and structured?

4. What 2 things do you wish your bank

was doing but they’re not?

5. Can I have a copy of your

statements to put together an offer of

how we would handle your

relationship?

Where are the Business Issues here?

These questions focus on products;

comparing your products with a

competitor’s. These questions demonstrate

product acumen!!

Look at these Questions. . .

2



36

These questions align with a Key Decision Maker’s

Business Plan, Business Strategy, Business

Objectives, Business Operations and Business

Management Processes. These questions demonstrate

Business Acumen!!

Use this Question Set to Demonstrate Business

Acumen and Build Relationship Momentum

2


1. Keys to success

affect current and future

decisions.

3. Industry trends, business

changes in next 3 years.

2. Industry trends affecting the

business today.

4. Current and future

changes force changes in

current and future business

operations.

5. Current and future

changes in business

operations force changes

in current and future

financial operations.

6. Changing financial

operations create changes in

the financial needs and then

an evaluation of the solutions

currently in place.

“Think Like the Business Owner”

37


BUILD A TARGET PROFILE

Key Initiative #1

38


High Appeal Industries Limited Appeal Industries

Manufacturers Real Estate Investment

Wholesalers Low-End Retail

Distributors Restaurants

Architect, Engineering and Business Service

Firms Mini-Warehouses/Carwashes

Law Practices Landscaping

Accounting Firms Service or Gas Stations

Insurance Brokers or Firms Used Car Dealerships

Large General Contractors

Medical, Dental and Health Practices

Define Your Core Relationship Profile

39


Business Characteristics

In business over 3 years

Sales revenue between $500,000 and $2,500,000

Employing more than 5 people

Location within footprint

Privately held with experienced management team

Borrowing needs under $500,000

Profitable (Net Profit After Tax) for the last year

Leverage (Debt-to-Worth) less than 3 to 1

Deposit balances average more than $25,000

Using or needing 5 or more business banking/consumer banking product categories

Define Your Core Relationship Profile

40


Retention Relationships are clients who meet these criteria:

Have good credit quality,

and are

In top 10% of aggregate loans and deposit balances,

Your Bank has >60% of the loans and deposits of the business.

Expansion Relationships are clients who meet these criteria:

Have good credit quality and match the Core Relationship Profile,

and are

Your Bank has less than <60% of the loans and deposits of the business,

and have

Significant cross-sell/up-sell opportunities in next 18 months.

Segment Your Business Customer Relationships

41


Define the annual activity for Retention, Expansion and Prospect

Relationships.

Target 5 calls per week [60% of the calls to be proactive].

Target the right mix of pre-scheduled appointments:

• % with Retention, Expansion and Acquisition Relationships

• % of joint calls

• % of calls with referral sources or others in network

Be Clear About Call Activity/Call Mix

42


STRENGTHEN

EXPANSION RELATIONSHIPS

Key Initiative #2

43


Relationship Expansion Process Initiatives

44

These are the 7 Elements in

that drive a Relationship

Expansion Process.

These are the process

elements that drive Banker

Success in the building a

Brand. . . and is the result of

consistent execution.


Expansion Relationships

45

Determine possible opportunities.

Use a Relationship Profiling Model

to Identify and Follow-up on

opportunities to strengthen

Expansion Relationships.


Build a Client Folder with:

• Industry Trends and Data (VerticaIQ/First

Research/eMentor/IBISWorld)

• Trade association data on the industry

• The company’s web site

• News articles on the Business and Business Owner

• Bank-specific information about the industry (e.g. Sample call

plan templates, case studies, product brochures, etc.)

Identify the Opportunities for Expansion

46


ACQUIRE

NEW RELATIONSHIPS

Key Initiative #3

47


Overemphasizing prospecting. . . “Don’t forget your Key and High Potential

Clients.”

Not providing direction on which prospects to target. . . “Build a list of the

prospects you want to do business with.”

Not coaching bankers on how to leverage their network (and that includes

senior management, directors, etc.). . . “Use client referrals and testimonials

to get appointments.”

Not having a process for generating leads. . . “Coach the top of the funnel.”

The Super-Rep Syndrome. . . “Teach them all to fish.”

Not understanding your bankers’ default value propositions . . . “Coach to

the value proposition that you believe in.”

Defining success too narrowly. . . “Celebrate the small victories.”

7 Mistakes Sales Leaders Make

48


Not having a “Vetted” Prospect List. . . “Build a list of the Businesses you

want to do business with.”

Not using their network. . . “Using client referrals and testimonials to get

appointments.”

Not having a defined strategy. . . “Building relationships based on Value

Added.”

Planning one meeting at a time. . . “Always plan 2 calls at a time, gin up the

interest in the next meeting before you leave their office.”

Not preparing “cognitively”. . . “Being prepared is a huge differentiator and

adds value.”

Using the wrong question set. . . “Use questions that add value.”

Selling to the first need. . . “It takes multiple needs to build enough

momentum to overcome inertia.”

7 Mistakes Bankers Make in Prospecting

49


6 Steps for Building New Relationships

50

1. Build a Vetted Prospect List

2. Select the first 5 Prospects you

want to focus on

3. Build a Relationship Strategy,

Plan the first 3 Meetings for the

selected Prospects

4. Use a Testimonial Referral to

Get the 1st Appointment

5. Debrief the 1st Meeting, adjust

the Plan for the 2nd and 3rd

Meeting. Keep a focus on what

is changing (not “optimized”)

6. Deliver 1 or more “Optimized

Solutions” in the 3rd Meeting


“It's Marketing's job to provide us leads.”

“Get me a better list.”

• A list of businesses that want to change banks now!

• “The list isn’t perfect. . . there are dead people on here!”

Focus on former customers from “my old bank”.

Each Banker builds his own prospect list.

• Not sharing it with other team members for feedback.

Rely on a single source for prospect names.

“I have an amazing mind, I can keep it all in my head.”

Bad “Best Practices” for Building Prospect Lists

51


What is a “Vetted” Prospect List?

52


D&B Strategic Marketing Database or Zapdata.com (Hoovers Lead Builder)

ReferenceUSA

Local Industrial Development Authority (electronic version)

UCC Filings (there are compilation services)

Local Business Publication directories (not always a good choice, too

visible)

Guidestar.org (a great source for 501C3s)

Trade Association Memberships or Websites (a few examples)

• American Society of Association Executives (www.asaenet.org/find/)

• American Dental Association directory (www.ada.org)

• American Institute of Architects directory (www.AIA.org)

• State and local trade association listings

Use Multiple Sources for Your Prospect List

53


Recent studies in the banking industry show that Business Owners are

more than willing to help you. . .

66% of Business Owners are willing to provide referrals to Bankers.

But to get the referral you will have to ask; most Bankers don’t ask.

Only 22% of small-to-medium-size Business Owners have been

asked for a referral in the past 24 months.

Only 37% of Middle Market Decision Makers have been asked for a

referral in the past 24 months.

Is a Consistent Flow of Referrals a Possibility?

54


Small Banks’ Ratings on Willingness to Refer Have Improved,

While Medium Bank’s Ratings Declined

55

67% 66% 68%

72% 71% 71%

63%

70%

47%

60% 56%

59%

64%

61%

63% 57%

43%

40% 41% 41% 41% 40%

35% 36%

75%

70%

65%

60%

55%

50%

45%

40%

35%

30% 2005 2006 2007 2008 2009 2010 2011 2012

Note: Bank trending data is representative of bank organization in 4Q2012.

Small Business Trailing 4 Quarter Data

% A

gre

e

Str

on

gly

Small Banks

(Assets

<$1B)

Medium Banks (Assets $1B-$50B)

Large Banks (Assets >$50B)

Small banks have improved on willingness to refer and are currently at 70% agree

strongly, while medium banks dropped to 57%. $100K-<$10MM

Q: Please indicate how strongly you agree or disagree with each statement. I would

refer a company with similar needs to my primary bank.


Why do Business Owners provide referrals?

They may like to help other business people.

They may want to be “heroes” to their friends and business partners.

They understand that it’s the best way to grow business for them

and for you.

They may see referrals as a way to “pay you back”.

The Whys of Referrals

56


Why don’t Bankers ask for referrals?

The quality of referrals isn’t always the best.

They don’t want to “harass” good clients.

They’re not sure whom to ask; they’re not sure when to ask.

They don’t have a process for asking!


57


Why don’t Bankers ask for referrals?

The quality of referrals isn’t always the best.

They don’t want to “harass” good clients.

They’re not sure whom to ask; they’re not sure when to ask.

They don’t have a process for asking!

http://www.mzbierlyconsulting.com/how-to-ask-customers-for-quality-

referrals


58

http://www.mzbierlyconsulting.com/how-to-ask-customers-for-quality-referrals















1. Wait and See: “If I continually provide outstanding service. . . when

they hear of an opportunity they’ll give me a call.”

2. Let them know I’d like a referral: “Jack, if you think of anyone who

would be a good a match for me and the Bank I’d love to talk with

them. Let me know if you think of anyone.”

3. Proactively ask for an Introduction: “Jack, there are a several

people in the area I’m trying to meet. I was hoping I could run their

names by you. . .”

Asking for Referrals

There are multiple ways to build a Network Referral Process. . . but

one works better than the others. Here are the three most prevalent:

59


Industry information

Financial information

Website

Call planning templates

Simplified relationship plans

Cash cycle maps

LinkedIn

Use tools that make you look good

60


These are your Meeting Objectives for the Business Operations Meeting:

1. Demonstrate your knowledge and understanding of some of the key issues in the industry sector of the

business.

2. Understand the keys to success used to build the business.

3. Understand the current [1-year] business objectives of the business.

4. Understand the future [3-year] business objectives.

5. Understand the day-to-day business operations of the business.

6. Understand how his business objectives and business operations will change over the next year, the next

3 years.

7. Identify three needs, short-term, mid-term or long-term; summarize and then prioritize the needs; use the

top prioritized need to get the next appointment.

8. As a part of the next meeting, frame a Financial Operations Discussion (with key parties) to review the

current cash-cycle and potentially to offer ideas for optimizing collections, disbursements and working

capital management.

First Call Objectives — Use a Template

61


Call Plan Templates

62


COACHING THE

SMALL BUSINESS INITIATIVE

Key Initiative #4

63




Stance:

Waiting for opportunities to come in

Stance:


part of the time

Stance:


regularly

Stance:

Actively building market share,

wallet share and developing

opportunities

Methods: Walk-ins Irregular lead generation Referrals from a few long-time

customers or “well-worn” referral sources



Methods:

Some referrals from customers

Generating leads from any and all

businesses


referral sources

Focuses at the Business/Office

Manager Level

Focuses primarily on product

issues

Methods:


generation

Effective use of testimonial referral

sources

Focuses at Business Owner level,

builds Level 3 or 4 relationships

Has effective Market and

Relationship Strategies

Effectively uses Business Partners

to build relationships

Methods:

Actively building a referral

network and effectively using it

Actively working the best clients

and prospects

Actively building niches

Consistently uses Business

Acumen as a Value Proposition


sources and building a brand

Characteristics:

Infrequent calling, little planning or structure to calling effort

Works “whatever is in front of me” focus

Focuses on credit/product strategy first then “sales” strategy


price/structure or “customer service”

Characteristics:




orientation


time, leads “scorecard” product


limited to 1-year time frame

inconsistent results and


Characteristics:




Completely comfortable with

Business Operations and Financial

Operations Conversations

Consistently identifies opportunities

(short-term, mid-term, long-term)


Characteristics:

Always aware of new

opportunities


An articulated plan for

consistently developing new

opportunities


relationships

Direction: Build the Activity

Guidance: Build the Quality

Support: Remove the Barriers

Coaching the Stages. . . Bi-Weekly

64


The “End State” of Stage 1 is learning to Connect with the Business Owner.

The Banker is ready for Stage 2 Coaching when she consistently demonstrates

these skills:

Comfortable on the Business Owner’s “turf”.

Confident talking about business operations [not just products] with the

Business Owner.

Convinced he has “something of value” [beyond just products].

Assertive enough to “lead” the meeting with the Business Owner.

These skills typically require 75 to 125 calls to learn—for more insights go to:

http://www.mzbierlyconsulting.com/small-business-strategy-coaching-branch-

managers

Coaching Stage 1 (to Stage 2)

65

http://www.mzbierlyconsulting.com/small-business-strategy-coaching-branch-managers












Keep the Banker Targeted. Build and “Vet” a list of 35 to 50 Businesses

(the Targeted Business List). Use these lists to build the Targeted Business

List: the Banker’s current Retention, Expansion and Other Lists.

Begin to “encourage” planning. Ask the Banker to build a Client Folder

for each Relationship before contacting the Business Owner [they probably

won’t, it’s OK for now].

Ask the Banker to review the Client Folder and to use one of the Quick

Reference Guides for each call [they probably won’t, it’s OK for now].


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In each bi-weekly coaching session, debrief 2 or 3 meetings the Banker had in

the last 2 weeks. Debrief the meetings by asking all of these questions, in this

sequence:

“How did the meeting go?”

“Did you find any opportunities during the meeting?”

“What did you learn about the industry that this business operates in?”

“What did you learn about the Business Owner’s business objectives today,

over the next year, over the next 3 years?”

“What did you learn about the day-to-day business operations of this

business?”

“What did you learn about the Business Owner and what he/she “values”?

“How did the Business Owner describe the value proposition he uses in his

business?”


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Re-Establish the “Priorities” every Monday Morning.

Use Monday Morning Sales Meetings to continually re-establish the priority

of “meeting with” and “learning about” the targeted businesses.

A conference call is OK.

The Small Business segment of your sales meeting should not exceed 30

minutes.

The “accountability” topics for Stage 1 Team Members are these. Ask each

Stage 1 Team Member 2 of these 3 questions (ask the Stage 2 Team

Members their questions, not these):

• “What targeted businesses are you calling on this week?”

• “Pick 1 targeted business you met with last week, what did you learn

about the business and its operations?”

• “Are you finding any opportunities in your meetings with the businesses

on your targeted lists?”


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Questions?

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“When all is said and done, more is said than done.”

Lou Holtz

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Visit Our Website

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After the conference take a few minutes to

explore our website. . .

And register for our email newsletters and blog.

Each month you’ll get suggestions, tips, and

how-to’s to fine-tune your sales and sales

leadership processes.

Find out about our archived webinars on sales

and sales leadership topics.

To find out more about our resources for small

business banking teams go to

www.mzbierlyconsulting.com or call Ned Miller

at (610) 296-4772 or email him at

[email protected]

Bonus offer: Article on “How to Improve the

ROI on Training Branch Managers” at

http://www.mzbierlyconsulting.com/a-winning-

strategy/



mailto:[email protected]

http://www.mzbierlyconsulting.com/a-winning-strategy/






Building Momentum with Small Businesses

Business

Transcript of Building Momentum with Small Businesses