Focus on the financial needs of small business owners
Wells Fargo bankers work together to better understand complex financial statements.
Business bankers from Wells Fargo Bank learned about the needs of small business owners in a new training program BiGAUSTIN developed specifically for bankers. The class, Taking Financial Control of Your Business, provides bankers with knowledge and skills to improve their ability to serve small business owners. The first class was held in August and was such a success that a second class was scheduled. In October, another group of bankers from Wells Fargo Bank completed the 16-hour class.
Mark Curry, the President of Community Banking for Wells Fargo Bank, was very pleased with the knowledge Wells Fargo Bankers gained from the training. "I am convinced that Taking Financial Control of Your Business has made my bankers better equipped to understand the financial needs of business owners," Mr. Curry stated.
Taking Financial Control for Small Business Bankers Equips bankers with:
- The tools to analyze financial statements
- An understanding of cash flows and how to use them to plan in advance for need funds
- Better understanding of financial statements from a small business owner's perspective
The classes were taught by BiGAUSTIN instructor Carlos Castro who is also a business owner and has worked with BiGAUSTIN for over 7 years. "We adapted the Taking Financial Control of Your Business course to help the bankers better understand where the small business owner - their customer - is coming from," said Mr. Castro.
"BiGAUSTIN's ability to customize the training to meet our needs was invaluable," stated Kristi Jones, Wells Fargo Community Banking District Manager, who attended the first two-day class.
"The energy level of the instructor was fabulous. His knowledge of the subject material was with out question, first class. The pace allowed for spontaneous dialog and discussing and was very much appreciated," continued Ms. Jones.
The classes focused on understanding small business financial statements and how small businesses can manage growth wisely. Each participant received a workbook on financial statements during each of the classes. The bankers learned:
- About Internet financial trends in small businesses
- How to forecast future revenue based on pricing
- Important ratios for financial analysis
"This class gives BiGAUSTIN another opportunity to act as a liaison between small business owners and bankers," stated Jeannette Peten, president of BiGAUSTIN. "We teach small business owners about maintaining their financial records and now we are helping the bankers who serve small business owners to better understand their specific needs," continued Ms. Peten.