WHO'S THE
CUSTOMER HERE?

I'll bet you thought it was you!

Wrong, the financial institution is your customer! If you are like most people you think when you go to any financial institution for money you are the customer. Maybe you are looking for a loan to begin a business, a line of credit to expand your business, a mortgage on a new home or even a loan for a new car. It doesn't matter why you are looking for the money – you are the person in charge.

The most difficult part of this whole scenario is to act like you are the person in charge of your own destiny. You see, most of us put the financial institution in charge - we go in hoping they will see things the way we do. Silly us! You have probably heard the old adage, “Be careful what you pray for - you just might get it”. Well, it's true!

It took me a long time to figure this out. I would go into my financial institution praying they would see things my way, praying they would agree I have a viable business and praying they would be willing to help me take it to the next level. The first thing I was after was a mortgage so I could buy a new building. Well, they didn't exactly see it my way. The fact that my husband and I had banked with this institution for almost a hundred years between the two of us meant nothing. Nor did the fact that neither of us, nor the company, had ever missed a payment on any loan we had ever taken out.

That's when I learned I had to take charge. So, you're thinking, “How does one take charge?” It isn't as difficult as you might think. Some things for you to consider:

• Dress like a million bucks – obviously you don't need the money. Dress professionally. If you're not sure what professional means in this situation, consider wearing your best dark suit and light blouse. Do your hair. Make sure your make-up projects a professional image. Wear pumps (that's a closed in shoe) with a heel at least 1 inch in height. Carry a briefcase, not a purse.
• Take a seat – don't wait to be asked to sit down – you're in command. This shows strength and yet is not too overpowering. Open the conversation asking about your consultant's view of business strength – this will give you some understanding about how to position yourself.
• Explain the benefits for your financial institution – you're here for the long haul. You already know when you sell, you point out the benefits. This is a sales job so you will treat your customer to the same benefits you would anyone else. Explain what's in it for the financial institution. Is it good PR with small/large businesses? Is it a future client when you need more funds? Or, you know several people who are looking for funds – you'd be glad to pass your loan manager's card along.
• Explain how long you expect to take for repayment – you've thought it out. You know your business, so show this financial consultant how you have planned your repayment.
• Show how you've worked it out on paper – you've got a plan. A picture is worth a thousand words! Show them your plan on paper. It works!

Is this a sure fire way to getting what you need? Come on now, we're talking about financial institutions! However, it is a sure fire way to get noticed and possibly achieve your goal. Did it work for me? You bet! After failing at my bank where I was known, I went to another institution where I wasn't known and in 20 minutes had the mortgage I needed to take my company to the next level.

So, remember, your financial institution is your customer. Treat them as such and you are just liable to come out of the transaction with what you want. It is always so much easier to sell a concept when you know exactly what it is you want and you are willing to create the plan to achieve your own success.

Sherry Knight, President of Dimension 11 Ltd., is a convention speaker, author and corporate trainer who helps individuals achieve their full potential. To bring Sherry's learning experiences to your organization, call 1-800-303-2315, email sherry@dimension11.com or visit her web site at www.dimension11.com.

This article may be reproduced in print or electronic format as long as it is not altered and the author credit is included.

Published in BusinessWoman Canada, May/Jun 02

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