We are delighted to have theBankDoctor share his 30 years experience on both sides of the banking fence to help ABIS readers with their banking relationships. theBankDoctor says that one of the biggest risks faced by Australian businesses is the risk of the bank not being there for them in their time of need. He calls this “Bank Risk” and his mission is to help businesses understand, quantify and mitigate their Bank Risk.
Bank Risk is hugely important because if you lose the support of your bank your business can go down hill in no time. In addition to being one of the most significant risks faced by business, Bank Risk is also one of the most underestimated.
Think about it, you insure for a whole range of business risks including fire and flood, a debtor going bad, a key executive having a heart attack, interest rates and currencies moving against you but what steps do you take to insure for the risk of the bank not being there for you in your time of need?
theBankDoctor’s Bank Risk Report provides the answer. Simply by completing an online questionnaire you will receive a tailored report that will:
- Explain in layman’s terms what Bank Risk is and how banks determine your worth as a customer.
- Quantify your own level of Bank Risk &
- Provide up to 50 personalised tips to help reduce your Bank Risk and improve your standing with your bank.
theBankDoctor’s Bank Risk is a working template that will help you pro-actively and collaboratively engage with your bank. Most businesses owners don’t enjoy dealing with banks and tend to adopt attitude “if it ain’t broke, don’t fix it”. It can be hard work dealing with banks and there’s a whole host of reasons why it’s easier to “let sleeping dogs lie” but this is the worst thing you can do. The businesses with the highest level of Bank Risk are also the ones with the poorest level of engagement.
And if you have only ever been with one bank the chances are you will have a higher level of Bank Risk. There are a lot of mistakenly loyal bank customers who think that their bank will be supportive because they have been loyal to the bank. More than two thirds of the businesses we have worked with thought they had a strong relationship with their bank only to find that in their time of need this was not the case.
The relationship with your bank is crucial to your business’s survival and ultimate success and like any other relationship it needs to be worked on.
You can obtain your own personalized Bank Risk Report within 24 hours by visiting theBankDoctor’s site and following the instructions.
ABIS readers qualify for a 15% discount on the standard price of $395 by using the coupon AUBIS15.