Melissa Johnson is the co-founder of Entrepreneurs Bancshares, Inc., a bank geared specifically to entrepreneurs. She used to work with Highland Bank as the Senior Vice President bringing with her years of banking experience. Today, Melissa debunks some of the myths of a trusted adviser, offers advice on what clients should expect from a good banking relationship, and the difference between a community business bank model and a commercial one.
Key Takeaways:
[1:35] A little bit about Melissa and the new bank she is launching.
[2:40] Melissa shares a bit of her background and the journey through her career.
[3:25] Why are there not a lot of banks that have a community business bank model?
[4:30] Melissa shares what it’s like opening a brand new bank.
[5:21] In the world of commercial banking, what are the three things you can expect from a good bank?
[6:50] Aside from money, what benefits would entrepreneurs receive from a bank like theirs?
[8:30] What is forbearance? Melissa explains.
[9:45] Melissa shares an example to explain what a trusted adviser is to her.
[11:30] What kinds of things does Melissa do to get to know her clients’ business and help her become a better adviser?
[13:50] How does Melissa help her clients think about the long term?
[16:05] If Melissa was a business owner and she was looking for a bank, what would she do?
[18:40] Melissa shares the difference between regional banks and how they work.
[20:05] How long does it take a banker to know if a loan should push through? Melissa shares what can be expected from a good and experienced banker.
[22:34] How does Melissa deliver bad news to her clients if a loan doesn’t push through?
[24:30] Melissa also talks about the objective behind gaining understanding if the bank is the right fit for the entrepreneur.
[26:55] Melissa matches her client’s calendar as to where their acquisitions are headed. What is it like following through with them?
[28:10] Two of the biggest mistakes in banking fall under poor communication and poor planning. Melissa expounds further on how this can happen.
[29:45] Melissa also talks about what is a 1031 exchange.
[30:25] What would Melissa recommend to entrepreneurs to help them prepare to set up a new banking relationship?
[32:40] Melissa also talks about her seminars, the more recent one called Business Performance Series.
Mentioned in This Episode:
Email Todd: Todd@Dynastylc.com
Email Melissa: melissa@entrebank.com