Posted On: September 1, 2021 by Prevail Bank in: Business
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. Where a reactive business strategy is in which a plan becomes created to manage an unforeseen situation. 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.
Prevail Bank Commercial Banking Officer Terry Barnett provides 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.
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.
Develop a Proactive Relationship with Your Business Banker
Developing a proactive relationship with your commercial banking officer will help your business grow through utilizing industry research programs mentioned previously and with financial planning.
That means keeping a schedule of planned meetings and correspondence to mitigate any issues or problems that may arise in the future. It’s a lot easier to resolve an issue or meet a need when taking a proactive approach through proper planning with your lender. Our staff also brings an objective point-of-view to help guide your business through the decision-making process.
I want to Reach My Business Goals
Meet the Lender
Terry Barnett, Commercial Banking Officer
Wausau Location
Terry has been in the banking and commercial lending industry for 11 years, one of those with Prevail Bank. For the past seven years, he has served as a member of the Wausau Noon Optimist Club to benefit the youth of the greater Wausau community. Terry enjoys assisting business owners to help them achieve their objectives is the primary goal, however it’s most satisfying when a true partnership is formed and I become a trusted resource and advisor. I’ve always that having a dedicated banker, accountant, and attorney is paramount to a successful business.
