As a small business owner, it’s important to maintain a good relationship with your banker. But how often should you be in touch with them? The answer depends on your specific needs and circumstances, but here are some general guidelines to consider:
- When you first start working with a banker, you may want to be in touch more frequently to establish a strong relationship and ensure that you understand all the details of your business financing. This might involve weekly or even daily check-ins to discuss your finances, plans for growth, and any challenges you’re facing.
- Once you have a solid foundation in place, you can scale back the frequency of your communication with your banker. Depending on your business’s needs, it might be appropriate to touch base every month or every quarter to review your financial performance and discuss any updates or changes.
- In between these scheduled check-ins, it’s always a good idea to stay in touch with your banker if you have any pressing financial questions or concerns. For example, if you’re considering taking out a loan or making a significant business investment, it’s important to consult with your banker to ensure that it makes financial sense.
In general, the key is to maintain an open and ongoing dialogue with your banker. By staying in touch, you can ensure that you’re on track with your financial goals and get timely advice and support when you need it. So, it is always a good idea to be in touch with your banker as often as possible.
