When Kids Attack

Time for a Dad post. Let me start this by explaining that my daughter is 5 years old, a sweet, tiny little girl that loves to sing and play with her big brother, a second grader. She and I went to school today to pick him up when the following scene took place:

We enter the classroom and I notice my boy and a much larger kid wrestling, and it was apparent my boy was giving all he had to keep the kid at bay. I saw a flash shoot past me and before I know it my girl is on the kid and does something, not sure what, but something that sent the kid reeling and howling away. Conundrum. You see the rule in our house is take care of each other, if one of us is in perceived danger the unwritten rule is help first (that could mean many things, get a parent, teacher or all out full frontal assault). She chose the latter.

So I of course am billowing with fatherly pride at the sight of such unbridled sisterly love but also realize that I should at least feign some sort of discipline. I chose to have her apologize to the kid for being a bit too aggressive and all was well, no hard feelings. My son turned to the kid on the way out and said "sorry about my sister, she thought you were hurting me so she attacked black widow style (yes, that is an Avengers reference)". Sweet as a pea but with the dark undertones of a young man that knows he's a part of a viscious tag team combination.

We get in the car and I patiently explain to my daughter that boys tend to rumble like that, its normal, and no real malice was intended. I then explained that she would never be in trouble with me if her intentions were in the interest of helping her brother (this isn't the first time by the way, there have been other instances where she has perfected her head locking technique, all in the defense of her big brother, and of course he's always ready to step in for his little sister).

I end this post with slightly mixed emotions, but satisfied that my little ones really are listening to my questionable advice and I hope that this instinctive desire to protect each other will last long after I'm gone.

Internal Auditors Are Your Friends

Dum, Dum, Dum....yup, its that time again bankers. The list has been sent out and your internal auditors are about to dig into a random list of your credits. This is a time when many get very uncomfortable and insecure about their files. So let me blow your mind. Don't even open the e-mail. Yup, I said it. Don't open the e-mail, don't even try to know what they will be reviewing, have confidence in your credit management skills.

After all, the auditors job is to scrub our files and see what we're doing right and what we're doing wrong. This is a tough position to take, after all we would all like to pass these exams with flying colors and show the world how good we are at our file management. But do we really benefit when we are rushing to make sure we're caught up on file memos? Scrubbing financials to make sure we're up to date? I say no. We are not better off. I don't know about you but I don't learn unless I screw something up first.

For example, my audit is over and I did well. The items that were noted were easily remedied and in most cases there were no issues at all. What did I learn? I need to immediately get electronic submissions of financials into our system. Most of what was missing was sitting in my CMA files (Cover My &^%) Side note, set these up in your Outlook per customer and park all your correspondence here, do this for your co-workers and bosses also, it is always nice to be able to track back approvals, or correspondence when the parties involved don't recall what they said, it feels good and keeps everyone on their toes.

My new policy thanks to this audit is to immediately submit financials that are delivered electronically when they come in and before they land in the CMA files. So this was a worthy audit and I benefited from it.

So the next time you get the notice that your internal auditors are coming for a review, don't freak out, in fact don't do anything, let them scrub your files, take their feedback and make improvements where needed going forward. After all, how else can we really improve on what we do if we aren't genuinely tested every once in a while.

$30,000

Not a big loan but a community loan and that is what I do. I'm hoping to close this tomorrow. The story goes that two nice ladies came to my office, on the advice of their landlord after swinging and missing at a few other banks. You see 1. this isn't exactly the sweet spot loan amount for most banks, and 2. it was a start up, sort of. I say sort of because between the two of them there was more business experience than most folks have, they had reasonable projected cash flow, a supportive landlord, and a nice basket full of collateral.

So why two no's before they hit me? Guess it wasn't a sexy enough sized loan to warrant an extra few minutes to determine that they had the know how, reasonable projections and plenty of collateral. Throw in their landlord that is known to be helpful to start ups and I'm a bit lost as to why this made it all the way to me. I will say I'm glad they did get to me because it is certainly a feel good loan and I look forward to watching them prosper in our little downtown.

So PLEASE, read my older posts, and take the time to really listen to your clients. Here is my parting shot example: someone I used to work with said a hard "NO" to what eventually turned into Green Mountain Coffee Roasters and guess what? The founder of GMCR to this day reminds him of it (and won't do ANY business with him). Ouch. Sometimes we get so caught up in what we think we know that we forget that every business is different, and every person deserves a fair shake. Take the time to listen, advise, work through issues, and leave folks that you come across in a better place than you found them. Sometimes you get to say yes, but if you do say no make it a "soft" one or you could be closing doors for many years to come.

Saying Goodbye

I got the news via a text message, one of my clients, and a friend had passed away from a sudden heart attack. It was jarring, I had only a few days before spoken to him no less than 3 times about the next deal he wanted to do. There is no need for names here, but suffice to say this was the sort of person that could instantly bring a smile to the face of a friend or a stranger.

He worked on the banking scene for decades in Vermont, for a few different banks and recently was doing some work with a local lending group. He was very active in the commercial real estate market up in Chittenden County, and I always marveled at how he had an "in" on just about any piece of property before it hit the market. Again, he was a people person, and folks were just comfortable enough to always give him an inside scoop.

He was a Dad, leaving a college age son and daughter. The deal we had on the books was helping a program expand that his daughter used. This was a feel good deal, and as always I was happy to help a Dad help his daughter. Recently he had a health scare, so lost a ton of weight, adjusted his diet and stopped, or curbed some old habits. He looked great, sounded great and I can't say enough just how shocking his loss is.

As is often the case when you lose someone too soon, you tend to reflect on your life's priorities. With this loss fresh in my mind I opted today to stay home after I picked up my son from school, engage in a raucous snowball fight with both kids, work on some home work with them, make our own pizza for dinner and finish the night with a new movie. Why do this when I had a few more things to do at the office? Because you never know when the afternoon you are embarking upon could be your last, and some extra time with my family, especially after such a sad loss, seemed far more important than the few things waiting for me at work.

Pitch Kitchen at Local 64

Periodically I get to sit in as a "judge" for a pitch competition at our local co-working hub called Local 64. Lars at Local 64 has been hosting this event for some time now and does a great job! The idea is for entrepreneurs with new ideas to make their "pitch" over 3 minutes to the group of judges, and attendees in the room, and then get feedback on how their pitch can be refined. I've done three of these now and have enjoyed each experience.

The presenters last night covered a myriad of areas, from stem cell research, to educational apps, a crowd funding idea for energy improvement projects, to new root radar technology for trees. Each was in a different stage of development, one had an existing revenue stream already. This is all done in a very relaxed environment, with beer and wine aplenty!

My co-judges and I awarded the best pitch to the stem cell presentation, however all were great and I am hopeful that our feedback was useful to them in refining their pitches. We always encourage presenters to come back to Pitch Kitchen once they have had a chance to incorporate our suggestions, and we've seen that happen a few times now.

I know there are other "pitch" oppurtunities at other hubs throughout the state so keep your eyes open. If you get asked to sit in as a judge, jump on it, you will be surprised by how much value we as bankers can add! This is just another avenue to explore where you can add value to your local economy and have a little fun along the way!

Here are a few links to some recent "pitch" options throughout the state. These have all come and gone but check out the link, read up on what was done at these events, and then follow these events going forward so you are ready for the next one!

http://pitchkitchen.eventbrite.com/

http://peakpitchvermont.eventbrite.com/

http://vtdigger.org/2013/02/07/chamber-announces-new-business-pitch-competition/

Everything to Everyone,,,or not.

Everyone is good at something? What are you good at? Long ago I realized I was not in love with administrative duties, but was up until recently saddled with them. The new gig I have now has allowed me to finally surround myself with people that understand, and enjoy the necessity of the administrative duties. I have two assistants that support me that are the yin to my yang. It is no secret that I like to go 110 miles per hour. But to sustain that level I need to have people around me to pick up the inevitable pieces that will break off along the way.

And guess what? Things have never been better! I like to sell, I like to visit with my clients, I like to be available 24/7 to my clients. Service, Service, Service! Again to do this something has to give. The secret is to be honest with yourself and take some time to list what you are and aren't good at, and then back fill your weaknesses with folks that are good at them. My team had a record year last year and there is nothing holding us back this year from repeating that performance. Nothing that is except losing those people that work with us that pick up our slack. So remember to say thank you, and say it often!

So are you a super sales person but not so big on the details? Then hire someone to support you that gets the details and revels in them. How about you are the furthest thing from a salesperson? Then hire folks that are and do all you can to support their strengths. Are you a people person? Are you analytical? Then recognize these are the things you excel at and then find folks that compliment your strengths by being good at your weaknesses. It is the true definition of a good team, with everyone holding together their piece of the whole pie.

One of my favorite stories (that I'm sure I have only part right) is about Henry Ford. He was testifying for something and the folks grilling him were having a good time trying to make him look dumb. Cheapen his successes somehow (by the way, the world is full of these people, ignore them). After this drilling Mr. Ford finally said, (again, I loosely quote here) "folks, I can promise you that I don't know the answer to that, but I can also promise you that I can find the answer in five minutes from one of my workers. Point? He recognized that he needed people around him that were smarter than he was, for that is the true sign of a real manager, one that recognizes what they can and can't do, then hires folks to fill those voids.

So take some time to list out what your strong points are, heck even ask some of your co-workers and clients what they think. Focus on these strengths, and then find some people to surround yourself with that can fill your weaknesses. Not only will you be happier not trying to be everything for everyone, but you will have a lot more fun at your job.

Lending Roundtable....

Let's face it, these days everyone wants to have a meeting. When in doubt, call a meeting. And we can very easily get burnout from running from meeting to meeting. But there are exceptions where you need to take the time to attend, and recently I took the time to be a part of one of those meetings.

Yesterday I sat on a great panel full of lenders down in White River Junction for a Green Mountain Economic Development Corporation Financing Solutions Roundtable. That panel included Sandy from VEDA, Josh from Community Capital, Sam from VCLF, Kevin from the SBA and David from USDA. There were also other bankers in the room, a rep from the VTSBDC and a rep from the VT Women's Business Center. Attendees included several local business owners and they had some great questions for the group.

First off I suggest if you haven't had the chance to attend a meeting like this, with a mixed group of financers talking about how their programs work and interconnect, do it! I say this to all you existing and aspiring business owners, as well as all you bankers in the room. I know I learned quite a bit from each of these agencies, and I consider myself well versed in who they are and what they do.

As a banker its nice to stay up to date on what each of these agencies have to offer, and its also great to hear what their recent experiences have been within the marketplace. The opportunity to give real life examples of how these agencies can and do work together is invaluable. There are a great deal of misperceptions on how these entities work, and this roundtable helped to eliminate those misunderstandings, again for the business owner and the other partners.

I know there are more of these roundtables being scheduled, I believe the next will be in the Rutland area. Keep your eyes and ears open for when the next one is coming to your area and make an effort to get to it. I guarantee you will learn something new and useful, connect or reconnect with other partners, and will have a great opportunity to have direct access to these great partners all in one place.

Here is a direct link to the SBA Vermont field office's schedule of events. Check in with it periodically to see what is being offered in your area! http://www.sba.gov/events

Small Business Administration

I get to talk tomorrow at a business financing roundtable so I thought I'd practice a bit here on the topic I'm covering. Why use the SBA? When should you use the SBA? The reasons are simple enough, if you have a recognized weakness in a deal you otherwise would love to do, slap on a guaranty.

Those reasons can include "green" management, shortfall on collateral (or maybe you need to lend more on collateral than your policy allows), or maybe this is a new business with no history of repayment but really believable projections. All of these can be a good justification for a guaranty. I believe the technical stand point is "I would not make this loan if not for a guaranty".

As mentioned previously in a post, the SBA has a much better website now, I've linked to the specific page that deals with what paperwork is needed to facilitate a guaranty request. http://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/how-prepare-your-loan-application

The myriad of enhancements available are varied, there are programs that are dependent on the size of the loan, the make up of those applying, type of collateral. Again, I defer to the website for a better breakdown of what these products are and how they are best used. This chart best breaks down the who, what and how of the programs. http://www.sba.gov/sites/default/files/files/Loan%20Chart%20Baltimore%20June%202012%20Version%202.pdf

Strap in, there is a bunch of paperwork and there is a cost to get the guaranty initially and annually, however they are an essential weapon to have in your lending arsenol, the better you know how they work, the better lender you will be.

I should note there are other options to enhance your deals, and other agencies/entities that are out there to help, VEDA, VCLF, VSJF, but we'll tackle those individually in future posts. At some point I'll give some insights on a deal I did that combined had 8 (yes 8) separate parties involved. Stay tuned....

Time to think......

The race begins. Pack up two kids for school drop off for 8:45. Prior to that scrub e-mail to make sure the world isn't imploding. Your boy is psyched to be at school, your girl, not so much, in fact she has not stopped telling you how much she doesn't want to go to school all morning and the whole ride. So drop off comes and goes, time to race to a meeting 45 minutes South. Try and return a few calls along the way, maybe bounce out a few texts (not while driving). Meet prospect, tour facility. Boom, back in the car for early afternoon pick up. Same routine, e-mails, phone calls, texts, they are piling up and piling up and all at once it seems you are the only person on this earth anyone wants to talk to. Deep breath.

So how do you find time to think on a day like that? My daughter actually found the solution for me. I picked her up from school early afternoon and was driving her home when she asked the usual "are you staying home".  "Sorry babygirl, I am buried and need to get to the office (hadn't been there yet)." "What do you have to do there that you can't do at home?". Now that was a great question and after a moment of trying to think of a logical way to explain to her that I NEEDED to be there, I realized I had no real reason to have to be there (except in my head thinking "at my desk is working", old bosses lousy influences die hard sometimes). So I opted to stay home with her for a bit, actually make and eat lunch not in my car, and catch up on e-mails, phone calls and texts. She played on the floor near me while I went about the business of catching up. Guess what? I felt great, got a pile of items caught up, quarterbacked some items to others and satisfied her (and my) need for a little daddy time.

When I finally landed at my office I was once again in control of my day, instead of simply reacting to others needs. All thanks to a simple comment from my little girl to take a break and catch up (with her as my wingwoman).

How do you find the elusive time to think, or catch up? One other outlet I like to try and use is time at the gym. I bring my phone and work out e-mails while I work out. Sounds crazy but it works and I feel great after. Others take a walk, schedule a non work related lunch with a friend, doesn't matter what it is that you do, but you need to do something to step out of work for a while and take a breath. Break the rhythm. If not that overwhelming feeling will forever control and consume your time and eventually the fun that could be working will be gone.

The Walk of Shame?

September 2009. "Hey Justin, can I see you in the boardroom?" asks one of my bosses (yes, one of them, good times). I, as the happy soldier, jumped up with a new deal in my hand and headed to the boardroom to discuss it. What's this? The bossman was in there, and also my old friend from HR. It didn't take a genius to put the pieces together on what was about to go down, but I was completely shocked. In fact my recalled quote was "are you &^*%#$% kidding me, I have a deal to get done". Classy as usual, I've never had a good filter.

Let's step back for a synopsis of my time at this place. Going on 10 years, climbed the ladder the old fashioned way (operations, to loan assistant, to analyst to lender), I had put my time in for sure. There was no trouble, no performance issues, not a real "firing". Trouble was I was still the FNG (ask your military friends if you don't know what this means), and when the spreadsheet popped out yours truly was on the block, low man on the pole. OK, two options here, wallow in self doubt (fat chance) or take this opportunity and find a more suitable home. I chose the latter.

After I boxed up my little work life (surprisingly into only two boxes), and two of my bosses escorted me out of the building I got to work. We took the side elevator at their urging, guess they didn't like the role in which they were being cast, I didn't envy either of them or my friend from HR.

So I don't call my wife first (I sent her a text later in the day, NOTE, don't send your wife a text telling her you just got canned, that will haunt you for awhile), I start calling my contacts, clients and other bankers I've gotten to know. Literally before I'm in the next town I'm scheduling a sit down for the following week. Lesson here? When life gives you lemons make some hard lemonade, invite some friends, throw on some burgers and dogs, crank up the music and channel a bad thing into something positive.

I spent the next two weeks set up in my temporary office at the Kellogg-Hubbard Library in Montpelier, running on the bike path, and re-connecting with clients, co-workers, and other folks that might be interested in my particular style of banking. I also spent some fun time with my kids! At the end of that period I had three offers, all pretty good, all with people I knew and respected, but one stood out. After screening the three with my clients (or soon to be clients again) I had made a choice. It was the smallest of the bunch that stood out so I went with it, having spent 10 years in the ever increasing land of bigger and bigger banks. Smaller also appealed because I grew up in a small bank environment (my Uncle ran a small VT bank called at the time Franklin Lamoille Bank).

What a great decision! Every year has been better than the last! Needless to say that sort of experience really lights a fire that has yet to go out. I have more flexibility than ever before, and as a result have been doing pretty well thank you. I do want to note that the place that carried my boxes is still dear to my heart, they trained me, nurtured me, and even now I have a super relationship with most if not all the folks over there (or their subsequent places). That has worked out really well for all of us and I feel these relationships will continue to work out well going forward. So this is definitely not a bash on my original home.

So what exactly is this then? Well its a story about a situation that very easily could have gotten me down, and rightfully so, but didn't. The approach was to take an opportunity that was presented and see it as such. The longer story is this is a very small state, and small industry. Take the time to make good connections in your bank, but also out at the other banks, these are the folks that will be with, or competing against you your entire career. Let them get to know who you are, how you work, and get to know them, so that maybe one day, if the bosses come knocking at your door, you will have a nice list of folks waiting to take you in.

Are you too connected?

You are just finishing dinner and your phone buzzes, its a text from one of your clients with a question. Are you annoyed? You shouldn't be, the reality is business owners never stop working so we shouldn't stop being available simply because the traditional work day is over. In fact some of the best interreaction I have with my clients is after hours. After all what could feel better as a customer than freaking out about something and being able to get some reassurance from your banker immediately? Even if we can't fix it that night, they will sleep better knowing its the top of our agenda the next morning.

Let's face it, we don't want to be so plugged in that we're buried in our phones and miss our kid's home run, or are in anyway disconnecting from our families, that would be selfish, and bad parenting. However, taking a few moments in your evening to check your e-mail and text messages to ensure there are no fires isn't as bad as it sounds.

In fact, this translates to vacation time as well. Yes you have your out of office on but you still get e-mails and texts, especially from those clients that have that all exclusive direct access to you. Some of the best advice I received on vacations and work came from a lawyer I use quite a bit. He said his rule was to set aside 20-30 minutes each evening on vacation to go for a walk, pull out his phone and "quarterback" the hot items, respond to the necessary ones, and put off the ones that can live until your vacation is over. Note that he isn't saying to be connected at Magic Kingdom, just to set a few minutes aside each day to make sure the wheels on the bus are still going round and round.

I do this now, it works great. And those that work with me know that if there is something critical they will likely hear from me that evening or the next. There is a very fine line here, I'm not saying sleep with your phone, but I'm also not saying to ignore it. As I said, business owners have issues 24/7, if we want to do the job right we'll recognize that and try our best to be there to ease their concerns if and when they occur after hours.

Visiting is your best marketing...

When was the last time you set aside a day or two to go out and see your best clients? I'm not talking about going to see them to go over financials, stopping to meet about a new loan opportunity, I'm just talking about popping over and saying hello. See how things are going. Better yet don't talk business at all, just shoot the breeze. In our day to day lives we're so pressed for time we forget that ultimately people bank with people, and they need to know and see and have access to those people.

Become more than their banker, become their partner. Bring something thoughtful along, favorite beer, box of company golf balls, something fun. Plan to be there for a while but also expect to maybe only have a few minutes to say hello, catch up and move on your way. Folks want access, and by making sure to pop out unexpected periodically (outside of the usual visits for straight bank talk) they will get a higher comfort level with you, again your goal is to be a part of their team, more than just a banker.

That point was hammered home for me today. Sort of. I got a call from a client I enjoy, like to toss a beer back with, great story teller and super business person. He was looking to catch up and maybe had a few ideas to toss around. I said I'd be in his office in 5 minutes, dropped everything I was working on and shot over. The reward? I had a great conversation, we did some strategic planning and walked away with a sweet deal and a sick referral. He taught me today, and my job was to listen. Of the hour visit we shot the breeze for 45 and got to business for about 15 of it. That is fun and fulfilling to me, let's be people first, have a laugh, catch up and then get down to the task at hand.

Did I mention be accessible? As I write this one of my top clients texted me (its 8:37 pm) with a new, hot prospect, we're texting now about him getting me in front of them. Sweet, I love this job and I love my customers! This is one of my favorite pop in customers, he has a great business, well connected, fun to be around, great golfer, super family.....you get the point, good dude.

So make the effort to sit down and make a list of your top clients and partners (lawyers, accountants brokers), then make a plan to get out to them over the next two weeks. No agenda, just purely a social visit. Grab a beer, grab lunch, hit the golf course. Whatever suits you. I can guarantee that by doing this as much as once a month, but definitely once a quarter not only will you gain trust, but you may also flesh out issues ahead of time, dig out a new deal in the works, or pick up a referral for some exciting new business along the way.

The challenge is to break out of your routine and get out there, you will find you are much happier in your job, and you will enhance your relationships with your clients. I like to say if I'm at my desk I'm not working. By being the last banker they saw, you will be the first banker they think of when the next great thing comes along.

Who needs a Business Plan??

In short you do and your banker really does! Often I have meetings with folks and when I ask if they have a business plan, they smile and point to their head "its right up here". NOOOOOO! Not the right answer. Think of a written business plan as a formalization of your plan, now and going forward. The who, what, when, where and why of what you do. This plan should include cash projections, a must in every start up, and a road map going forward you can refer back to periodically.

Think of your business plan as something fluid, almost a living thing. As such you need to be sure to nurture the plan, visit it often, and do a spot check on where you are now versus where you thought you would be. If you aren't there why not? Revise, revise, revise. Businesses evolve, they change, a product you didn't think would be a hit is a BIG hit and so you need to plan for its growth.

There are some great free resources available to help you put your plan on paper. These include the Vermont Small Business Development Center, our guy here in CVT is Charlie Ininger and he's a rockstar. Take the time to sit with him, he'll shepherd you through a pre-formatted plan they use at the VTSBDC. Here is a link that will take you to their site so you can reach out, use it, it makes you more bankable when you show up with a plan already on paper. http://www.vtsbdc.org/location/contact 

The SBA has made great strides in recent years to make their website more user friendly. The following links are super helpful when you are planning on visiting a bank. http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/thinking-about-starting 

Finally, let's talk your cover letter. This is your chance to get your banker's attention. Use it. We want to know what you need, why you need it, how you are going to pay it and what you plan to use as collateral to secure the request. This is your opportunity to make a quick pitch, and this is where you can make or break your meeting. Be succinct, and answer our questions in this cover letter. You will thank me later!

Don't just say no...

My God its easy to simply say NO when someone comes to your bank. After all if we try hard enough we can find a good reason to not do anything. But before you say your next NO think about a few things first.

I can't tell you how many times someone comes to me with a business, either new or existing, lays out their plans with enthusiasm and sits back cringing waiting for what they assume is the inevitable "NO". What I try to do is give a "soft" NO, not a hard one. What does that mean? One of my mentors, Steve Gurin, was and is notorious for going the extra mile, a strategy I try to emulate. He would take what right now is an un-bankable deal and offer advice on how it could some day be bankable. That is just who he is, he likes to help.

 

How unique is that? Turns out it is super unique. More often than not when I take the time to really hear a person's story, and then offer advice on where they can go next (Vermont Community Loan Fund, Vermont Small Business Development Center maybe to help tweek their plan) they are shocked. You see these folks often are coming from other institutions that simply looked at what they had (or sadly just looked at them), decided it didn't fit and sent them on their way (don't let the door hit ya...). Funny thing is these folks remember that, and someday if and when they achieve a "bankable" status you can be darn sure they will remember then.

 

They will also remember the banker that took the time to really listen, offer advice and do a bit of coaching to help them refine their plan. This is self serving to a point, especially if they go out and work hard to develop a business that qualifies for bank financing, but you will find it greatly satisfying at the end of the day if you can offer something useful to the many folks you come in contact with each day.

 

So the next time someone comes to you, try and take a little extra time with them and do a bit of coaching, after all we as the banker know best what it takes to get approved, and we also have the network in place to offer sound advice and connect them with the many financing partners and agencies in our communities that may serve them best at this point in their development.  Heck, you may even find one of your clients would be a good quasi-mentor fit for them to talk to. The point is take the time to listen and try for the "soft" NO, instead of the quick and easy "hard" one.

Bosses, the good the bad and the ugly.

Over the years I have had the opportunity to work for all sorts of folks. We have all worked for the nightmare boss. The 7:30 - 5:30 boss that came from an industrial generation that felt as long as you were at your desk you were working (didn't matter what you were doing as long as he/she could see you doing something). We have also had those bosses that harnessed our creativity, focused on our strong points and helped us along our career paths.

You can learn from both of these types on what to do and not do if and when you assume the position of "the boss". DO give your employees the wings so they can fly, one of my favorite bosses liked to say that he would "give me just enough leash to hang myself on".

My rules for managing me are simple: 1. Leave me alone so I can do my job (very Generation X I know), and 2. always have my back. That is it, simple really and I think most employees are looking to have that level of freedom to operate, knowing they have their boss's support and that they will stand up for you if need be.

Now the bad. I called him Captain &*(^$&head. He deserved the name trust me. If there was a forest in front of him, he would notice the one tree that had something wrong with it. It wasn't his fault, we had a generational difference that we could never overcome.  Favorite comment of all time? I was looking to workout a different schedule to accomodate the needs of my newborn son (two working parents doing the usual juggling). And here is the comment that left me seething "your wife should be home with the kids, that is how it was when my kids were young". WOW! Thanks Captain (starting to get the nickname now?), super helpful and full of empathy!

I still took away some useful things from this horrible boss. First, trust your employees, your job isn't to nit pick them or manage their schedule, at the end of the day your focus should be on their strengths and quite frankly if the reports are there (i.e. they are hitting or exceeding their numbers), then sit back and steer them. Don't try to make them like you, they never will be.

More bad. My first boss laughed when I told her I wanted to be a commercial lender, and that I would do it in five years. I was in loan operations, fresh out of college, full of piss and vinegar, but she insisted that I would never get to lending from operations. So I took that as some insane motivation and 4.5 years later was happy to call her when I had achieved my goal. What did I take from her? Don't kill a dream, find a way to help that person achieve it.

A few bosses were the best of the best. Those that took you under their wing, recognized your potential, and worked toward helping you get where you want to be. These are the bosses you want to emulate. These are the bosses that take the extra time to explain things to you, listen to you, and spend real time with you getting to know who you are. I have been lucky to have had a career path sprinkled with these folks at the seemingly right time, and I'm thankful for each and every one of them.

If and when you get the chance, become the boss you would want to work for. Good luck.

Volunteering

I love to coach my son's baseball team. The kids are great, I get to meet other parents and really get to know them, and I get to spend some great time with my son. This year my girl will start t ball and I am really looking forward to that also. But what else do you do with your volunteering time? Let's face it we're hit up all the time with board opportunities and the like, when do you say no, what is too much? What is too little?

We have precious little time, my house has two working parents (did I mention my wife is a banker also? More on that later) and two kids in school. Talk about juggling. I decided long ago, after watching my peers, that I would pick a couple organizations to work with and keep it at that. I've worked with people that over-volunteer, and what I have found is you end up spreading yourself too thin, and no one gets the best of you (and your time at home really takes a hit). Nope, by keeping things to a few you tend to be able to lend more to the organizations you hitch your wagon too. Don't get me wrong, you won't be able to do as much for them as you would like, but you will still be giving more than if you decided that you should sit on twice as many boards, head up twice as many committees,,,,,well you get the idea, keep it small and simple.

This is not to say you don't sign on for the occassional judging of business plans, teach a class here and there for your local small business development center, or act as an emcee for a high school competition, just don't make too many promises.

By focusing on a few boards of organizations that are close to your heart, and taking on only a few projects that you find genuinely helpful and entertaining, you will get more gratification and the places you work with will get more of you. AND you will still be able to maintain that all important balance of work and home. (note, if you can somehow find some volunteering opportunities where the kids can help out, think Rotary functions where the little ones can chip in, they will also be the better for it, after all its never too early to teach them about giving back)....

Internal Customers

We all know who our external customers are but who are your internal customers? Those folks that either work for, in support of or that you work for in your organization? They are the operations folks that process wires, credit folks that do your analysis, tellers that are on the front line seeing your clients everyday. They are your boss, or bosses, the other lenders on your team I think you get the idea. So what are you doing to strengthen these relationships?

First idea...smile. Yup, it really is that simple. Smile in the morning and say hello, I guarantee you will get a smile back. Smile when you talk on the phone, trust me the other person can tell. In general people like to be around happy people, so bring a little joy into other folks day if you can.

What next? Thank you notes of course. My Uncle, who ran a bank for many years, was legendary for his thank you notes. Even today I still will hear stories from folks that worked for him about how he sent along a note after they accomplished something, and how much it still meant to them to be thought of.  I haven't received a thank you note (that wasn't electronic) in years. So I try to send out as many as I can when someone has gone above and beyond. It is amazing what a quick, thoughtful, hand written note can mean to folks. After all we all love to hear when we've done a good job, it is just most people don't have any idea how to tell you that.

When was the last time you told your boss he or she is doing a great job? Try it and I guarantee you will be surprised by the response (note here, don't be kissing butt, this needs to be told at a genuine time). It really does all fall back to treating others the way you would want to be treated.

So eliminate the term co-workers, or bosses from your vocabulary, instead start thinking of all these folks as your internal customers and start treating them that way! You will be glad you did!

The dream team....

Nope, I'm not talking about Magic, Larry and MJ, I'm talking about the business dream team. The first member of course is you, the business owner but who else? Your accountant is such a critical member, but you have to make sure they are engaged and actively watching your numbers, not just puking them up in a tax return once a year. My favorite accountant saying is "its not the big expenses that kill you, its all those little ones that are creeping up that add up quick but you may not notice until its too late". Make sure your guy or girl is thinking this way and watching.

Next is your lawyer, again be sure to keep this person updated, engaged and involved. These folks see it all, from the super successes to the failures, and have been there for the ride. Listen to them, ask them questions, they have a lot of great advice to give.

Enter the banker, we're here to be your second and third set of eyes so use us. And more often than not we're free. The trick here is to make sure that this whole team is all interreacting often, especially during growth, new store openings, new product introductions etc. The up and down times.

I suggest an annual sit down with this team, face time is the best time and an open conversation about your business from these varying viewpoints can only lead to better things to come. Maybe you should put your real estate in an LLC instead of owning it personally. Talk about it and the implications it could have with all these partners, the good and the potentially bad.

So go out and shop for these partners, the first isn't always the best, and the one you are with doesn't necessarily mean they are the best fit for you now. By having the right team you will have the benefit of all their experience and this will ultimately lead to a more fluent and trusting relationship.

Kids at work...

My son attended his first loan closing when he was 6 months old. Why? More likely why not? He's been to about 6 closings over the course of his 8 years and gone on many more site visits. My daughter has also been to a handfull over her 5 years. That doesn't count the days they set up with me at my office to be my assistant. These are fun days. They are responsible for everything from keeping me hydrated to fetching things from the printer for me and our residential lender that has an office beside me. I feel that its fun and important for our kids to know what we do everyday. It gives them something a bit more tangible when we disappear each day to go to "work".

I don't have to bring them, it isn't a child care issue, rather I love showing them off and they are genuinely helpful and as mentioned fun to have around. Frankly, if I'm dealing with someone that is annoyed by a little one around, I probably don't want to do business with that person anyway.

So bring your kids, set guidelines, give them something to do that makes them feel valuable, and take the time to talk them through what you are doing and why. Let them meet as many of your clients as possible, they will view these folks as your "friends" instead of customers but there is no harm in that. A child's mind thinks in terms of play dates so if they think everyday I head to work to have play dates with my clients, all the better. To be honest, a lot of times my clients and I are on the equivalent of a play date anyway.

Think of bringing your kids as a date day also (daddy/daughter day we call it), and go out for a nice lunch, plan afternoon tea at the local coffee shop that happens to have delicious cookies. It leaves an impression. I'm lucky to have great restaurants, coffee shops and a rad toy store in my portfolio so not only can you take your little ones to places they will enjoy, but you also get to spend some face time with your clients! Oh, and most important you are spending some quality, one on one time, with those that are at the end of the day the most important little people in your life!