3 Tips for a Proactive Business Strategy

As a business owner, it’s beneficial to be proactive in your business strategies vs. reactive.

Being proactive with your business strategy means anticipating industry trends, whether it’s a challenge, new threat, or an opportunity. When a reactive business strategy is in place (or none at all) a plan must be created to manage an unforeseen situation, often with damaging and/or costly consequences. With the fast pace of change in today’s society, it’s beneficial that business owners be aware of and on top of their industries through developing proactive business strategies.

In this article, Prevail Bank Commercial Banking Officer, Dale Sankey, provides three tips for being proactive with your business strategy and how we, as your local business banking partner, can help in those areas today!

Utilize Industry Research

Investing in industry research will provide your business with data ahead of time, to interpret and structure your business strategy around. This research can offer perspectives not considered in your busy schedule.

As your trusted business banking partner, we have access to beneficial information to help your business forecast for the future. We utilize programs, like Vertical IQ, that address trends, challenges, etc., that can help provide your business with easy-to-comprehend industry research. It’s our due diligence to provide our clients with this information. Assisting our business clients with their proactive strategies is beneficial to growing their business and staying ahead of the competition.

Incorporate a Flexible Financing Structure

Each borrower or borrowing situation is unique.  Prevail Bank has experienced commercial lenders who are familiar with and utilize national and regional programs to assist with capital structuring.  These programs offer flexibility that may be superior to conventional commercial loan structuring including but not limited to equity injection requirements, loan amortization, and interest rates. 

Prevail Bank works with the Central Wisconsin Economic Development Fund (CEWD) for example.  This local or regional program assists qualified business owners with lower cost financing solutions to assist with projects like an acquisition or expansion. Its goal is to promote growth and economic development.

Prevail Bank believes in working with our local and national financing partners to achieve the best possible financing outcome.  Our commitment to understanding and utilizing these programs benefits you, our business partners. 

Develop a Proactive Relationship with Your Business Banker

Developing a proactive relationship with your commercial banking officer will help your business grow. That means maintaining regularly scheduled meetings and correspondence with us, your trusted advisor, so we can help mitigate any problems before they arise. It’s a lot easier to resolve an issue or meet a need when taking a proactive, planned approach. Prevail Bank’s commercial lending officers and business banking professionals bring an objective point-of-view to the table. We will help you and your business through the decision-making process.

Your financial health and success are our top priorities.

Meet the Lender

   Dale Sankey, VP; Commercial Lending Officer

Dale has been in the banking and commercial lending industry for over a decade. He is a life-long resident of Portage County and is actively involved in his community as a ministry leader at Woodlands Church. He also volunteers as a chaplain for Motorsports Ministries and IMSA at various sports car racing venues in the U.S.

“Prevail has excellent products, tools and services, but more importantly, exceptionally talented and friendly people that find solutions for our customers,” says Dale. “We positively deliver on the community banking experience as trusted advisors.”