CORE ACADEMY

The typical reaction to the "so called" banking crisis caused by the collapse of Silicon Valley Bank and Signature Bank had Bankers going over the talking points created by their bank.

But there is a better way to handle this situation.

It is critical that Bankers have a COI strategy to guarantee both the quantity and quality of referrals they need.

Transcript

This is Chris Carlson, and I want to welcome you to Core Insights.

Core Insights is designed to share concepts and ideas to stimulate both the thinking and the actions of Relationship Bankers.

In this edition of Core Insights, I want to talk about COI Strategy. 

While many Bankers believe they do a good job of working with COIs, most Bankers do not have a well defined strategy that will guarantee both the quantity and quality of referrals they need.

Marshall Goldsmith wrote a book with the title:  What Got You Here Won’t Get You There.

While this book is not about COIs or referrals, it is spot on when it comes to a Banker’s COI strategy.

Bankers must take a honest look at their COIs to determine first, which COIs they need to keep working with, and second, which COIs they need to stop working with.

As you look at 2023, think in terms of the 1-10-20 COI ...

The most important Super Power a Banker can have is becoming masterful at asking for and receiving great introductions.

TRANSCRIPT

This is Chris Carlson, and I want to welcome you to Core Insights.

Core Insights is designed to share concepts and ideas to stimulate both the thinking and the actions of Relationship Bankers.

In this edition of Core Insights, I want to talk about Super Power.  I think the most important superpower a banker can have is being great at asking for and receiving great introductions.

Once a banker obtains this superpower, things become so much easier.  Now, I did not say easy, I said easier.

When a banker gets great introductions, several things happen.

They have a robust pipeline with plenty of opportunities to work on

They are only working on the right prospects that fit their target profile

They come in above the line of credibility when meeting the prospect for the first time

They have better conversations with prospects because of the credibility ...

It is critical that your Bankers have a robust conversation with their Business Customers regarding the impact inflation may have on their business.

TRANSCRIPT

This is Chris Carlson, and I want to welcome you to Core Insights.

Core Insights is designed to share concepts and ideas to stimulate both the thinking and the actions of Relationship Bankers.

In this edition of Core Insights, I want to talk about Inflation.  Now, we know that you cannot watch, listen or read anything without coming across news about inflation.  It is here and it is affecting individuals, families and businesses.

Here are some thoughts as it applies to your bank and your bankers.

Many bankers have not gone through an inflationary cycle.  It is imperative that they understand the impact inflation will have on their business customers.  These bankers need to rely on both your internal team and seasoned bankers to acquire the knowledge of how they can best help their customer navigate these turbulent times. 

In this edition of Core Insights, we talk about the 5 most important advisors for Business Owner that are either a customer or a prospect.

Make sure your bankers go beyond a Business Plan and develop a Business Develpment System.

It is important to remember that your prospects and clients do not speak "Bank Speak."  You must talk to them in their language.

Providing a Benchmarketing Report to a customer or prospects is a great way to add value to the relationship.

Success Business Development requires great strategy.

Are your Bankers spending their time in the Red Ocean or the Blue Ocean?