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Episode 116: Financial CYA

Episode 116: Financial CYA

How banks disregard the customer and why they should be run like hospitality organizations.

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It’s financial “cover-your-ass” we’re talking about this week, and to be clear, the “ass” being covered is the bank’s.

Written by

Alan Weiss is a consultant, speaker, and author of over 60 books. His consulting firm, Summit Consulting Group, Inc., has attracted clients from over 500 leading organizations around the world.

Comments: 2

  • Alan

    January 2, 2020

    I specialize in facilitating joint ventures and my average monthly transaction with buyers is 20k+ (my income is based on performance, % of sales, etc.) I accept checks from clients because that is what they prefer to send, but it is slow and inefficient with delivery times, deposit times, etc. Would you recommend accepting credit cards, or wire transfers to speed up the efficiency of everything? Due to the amounts of certain deals I do, I don’t think a credit card would work. It certainly would allow me to be more mobile to get in front of more buyers, and live abroad if that suits me appropriately. Lastly, eventually (within 5 years) I will be doing in the 6 figures per month so I am thinking wire transfers would be best. What do you think?
    Thanks

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