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LenderHub

SWBC's LenderHub blog is a one-stop resource for lenders.

 

Recent Posts

Sales Success is as Simple as Listening

Well, now that I have your attention, there are a ton of opinions about what contributes to sales success. Some people recommend working with prospects by day and producing reports and traveling by night. Others recommend diving deep into client analytics, building relationships with a nine iron, and sending birthday cards for their dogs.

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Which Company Culture Matches Your Work Style?

Have you ever asked yourself, “what is the culture at my place of work and does it really fit me?”

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How to Choose the Right Path for Strategic Growth

Okay, the economy has picked up and your organization has capital to deploy for better returns. Strategically, what do you do? Do you try to grow organically or through acquisition?

 Both offer sunny skies and trapdoors to deep, dark places, so it’s critical that you choose your steps wisely!

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Why Product Lifecycles Should Determine How You Allocate Your Money

As a consultant, I was hired by many different companies to do many different things. But, one of the tasks I received most often was to find out if the money being spent on marketing and sales was allocated appropriately to yield the best return. I'd hear questions like:

"Where should I allocate the budget in order to see a profit?"

"Why isn't my investment in sales and marketing working?"

And each time, my response was the same: “Before I can tell you anything, let’s take a look at your product lifecycle.” 

I know people understand concepts better when you use pictures to illustrate what's going on, so I built the chart below to visualize a product lifecycle and to help a company's leadership know when and where to shift spending.

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Elevate Your Sales By Identifying the Unknown Need

In sales and marketing, have you ever wondered how to get customers to want something they don't feel they need?

As a consultant years ago, I often crossed paths with smart clients who had developed innovative products and services. They hired me because they had one major problem:  they couldn't get anyone to buy their products. When the consumer didn't buy, they naturally concluded there was a problem with the product. Usually, however, they were wrong.

It wasn't that their products weren't great; they just didn’t know how to market, how to sell, and how to get customers interested in something they don't yet know they NEED. My role was really about helping them discover their customers' unknown needs. 

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Watch Out For The Moose!

It’s a fact that change comes easier to some versus others. While some embrace change as a chance for a new beginning, others look at it as a departure from the norm, extra work, and a chance of failure. Some want to forge ahead, and others want the status quo to remain until they are gone.  

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How to Build a Simple, but Telling Competitive Analysis

During my days as an independent consultant, companies most often asked me to help them build their strategic direction. My first question was as reflexive as swatting a mosquito on the back of my neck. “Can I get a copy of your competitive analysis?” That was usually followed by a blank stare.

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It’s Never Too Late to Make Resolutions

A little over a month has passed since we rang in the new year and set personal goals to make 2015 the best year yet. So, how are your resolutions going? Good? Bad? Did you even make any? While it’s true that the new year invites new beginnings (and new resolutions), the reality is, you can make a resolution any time of the year. And, they don’t have to be run-of-the-mill resolutions like getting in shape, saving more money, etc., which—let’s face it—are all-too-easy to not accomplish.

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A Real Wizard's Lesson on Long-Term Contracts

Steve is in his 60’s and stands more than 6’5”. He has white, wild hair, but is bald on top. His voice is deep and booming as he leans back in his chair and gestures with huge hands high above his head. His white mustache dances as he laughs. His wink lets you know he is glad to share his knowledge.

I often described him as a wizard. 

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Chilies, Cheese, Grilled Onions, and Lower Fees… I Want Them All!!

Fees—we hate them as consumers, but in business, we utilize them for many reasons. What is the purpose for them? Is it to cover expenses? Used to deter behavior? Or, is it a source of income?

When meeting with clients, I am often asked how much other financial institutions charge for the same product or service. The answer is, it ranges from one end of the spectrum to the other.

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