Profit Mastery for Banks

In the increasingly competitive banking marketplace, banks are continuously striving to gain a competitive advantage. In many ways, bank products are all very similar — approaching commodity status. Value-added programs, products, and services are seen as points of differentiation.

Because education — specifically, financial education — is the primary need of the business community. This has been identified in numerous studies, in a variety of markets worldwide.

It will help your core customers grow, increase your retention rate, and improve your conversion rate.

Profit Mastery is a financial performance system that will provide the differentiating point in the market that can catalyze your company’s success. We have trained over 2 million business owners, key managers, bankers, accountants, CPAs, and university students on 3 continents and in 8 languages. Although originally perceived to be a training program, the real outcomes were actually centered around business performance, business development, and retention.

Profit Mastery has an international reputation for providing unparalleled financial management and business planning education and resources to owners, managers, advisors, and bankers of independent business.

We have developed a unique way of providing education thousands of business owners have described as “the best program they have ever attended” and “they will never look at their businesses the same way again!” We accomplish this by utilizing a unique combination of information, motivation…and humor!

Profit Mastery puts the client and the banker on the "same sheet of music," and the consistent result is dramatically-improved communication and results — for both the business customer and the bank. For the bank, this leads to improved performance and client retention, along with increased referrals.

Put senior management support behind the initiative ― by doing it right. Commit all lenders to go through the "lender version" of the program ― and require each of them to send five (5) people per year. Put in place a process to actually follow up on the opportunities created in the evaluations.

Go beyond a "P&L" analysis of direct costs. If you can, look at changes in the following:

• Customer retention

• Market Share

• Wallet Share

We presume you know what 1% of market share is worth ― and would hope to see a 2½% shift over five years.