Category
Missed opportunities between banks and entrepreneurs
In this article we will talk about how DoBiz helps banks through building custom processes to navigate the entrepreneurial world. Orchestrating strong relationships with small businesses who are ready to take their work to the next level.
Details
September 28, 2021
Tavita Lealiiee
Categories
Banks
Entreprenuer
Small businesses are the soul and lifeblood of the economy based on their contribution to innovation, creating jobs, and improving the conditions of the prosperous society. In America they are responsible for 99% of all businesses, in Utah alone there are over 301,000+(sba.gov). In order for the world to keep going, those with ideas and a work ethic play a pivotal role.
As a Bank it’s critical to tap into this market, but you know that. What’s frustrating are the missed opportunities, the potential customers you’ve lost because you were a business’s first attempt at securing a loan and had to turn them away because at the time there wasn’t enough reason to continue. When it comes to startup capital traditional banks are often the first sources entrepreneurs turn to (investopedia.com), but they are not the only source.
Some use personal funds, borrow from family or friends, borrow against a home or retirement account, work a second job, some look to angel investors or venture capitalists to get their business idea started. Small businesses that embody that entrepreneurial spirit seek and find alternative routes to financial security. With other ways to find the funding, therein lies the issue, how can banks capitalize on those missed opportunities?
This is where we at DoBiz offer to help. DoBiz is all about Entrepreneurs aka, small business. Providing the knowledge, tools, and connections they need to be successful. We help ideas grow to reality and get them ready for the next steps. We help solidify the foundation that entrepreneurs can build on.
With the services DoBiz offers to the thinkers of the world, we help ideas grow to reality and get them ready for the next steps.
For Banks we build custom processes. Instead of saying no and missing an opportunity, you can now provide a digital service to those that might not be ready to engage with your bank yet! We help get great ideas that are ready to grow and prepare them to meet the metrics needed for banks to step in and help. At Dobiz, we understand that there are risks involved for lenders when it comes to entrepreneurial ideas and small business. At our core we believe that those small businesses can be cultivated and given the proper resources to grow and flourish.
We already assist in educating these opportune customers and validating their plans with services like breakeven analysis, cap tables, ROI, Revenue vs Expenses, Budget vs Actuals… etc. All information that can be served up in a Merit Report to you and your Officers.
There is a standard that a small business has to meet in order for a bank to work with them. We help get those small businesses to that standard. Dobiz strengthens the relationship between small businesses and banks, and takes out the risks involved to avoid those missed opportunities.
Dobiz strengthens the relationship between small businesses and banks, and takes out the risks involved to avoid those missed opportunities.
Related Articles
