Categories
- Arts & Entertainment
- Business
- Advertising
- Bookkeeping
- Branding
- Careers
- Careers Employment
- Change Management
- Communication
- Corporate
- Customer Service
- Entrepreneurialism
- Ethics
- Financing
- Franchise
- Fundraising
- Human Resources
- Management
- Marketing
- Marketing Direct
- Negotiation
- Networking
- Outsourcing
- Partnerships
- PR
- Presentation
- Public Relations
- Resumes Cover Letters
- Sales
- Sales Management
- Sales Teleselling
- Sales Training
- Small Business
- Strategic Planning
- Team Building
- Top7 or 10 Tips
- Venture Capital
- Workplace Communication
- Communications
- Computers
- Culture & Society
- Disease & Illness
- Fashion
- Finance
- Food & Beverage
- Health & Fitness
- Hobbies
- Home & Family
- Home Based Business
- Internet Business
- Legal
- Pets & Animals
- Politics
- Product Reviews
- Recreation & Sports
- Reference & Education
- Religion
- Self Improvement
- Shopping
- Travel & Leisure
- Vehicles
- Writing & Speaking
Information
Too Much Banking Backdoor Information Flow
Most people believe that you can trust your bank. For the most part this is true however, if you are a small business person the chances are that your information is being passed on by loose lips. For instance you might become a topic of conversation at a party where an off duty teller mentions that you are loaded or that your business does not have adequate cash flow. Another instance might be the branch manager or an assistant manager of the branch who discusses your financial position with members of his Rotary club. I have seen this happen before and heard conversations.
In fact I remember hearing a conversation about me and my business at a party where the other party did not know that I was the business owner. It was at a Chamber of Commerce mixer and in they were talking about my franchisee and their financial position with a lawyer and another small business person. There is way too much banking back door information flow.
But it gets worse, as your business gets bigger you will find that venture capitalists and investment bankers will often pass on information to your competitors, creditors and their potential partners. I remember one time when an investment banker who had invested millions of dollars into my competition's kitty, pretending to be a franchise buyer of our franchise system. The next day, I got a phone call offering to loan me money or to buy my company. However, remembering that the day before they had called using trickery and misrepresentation; I conveniently told them where to stick it.
The moral of this story is to be careful of your banker and to what you tell venture capitalists and investment bankers. Many of these people are involved in other deals, mergers and acquisitions, as well as other investments perhaps even with your competitors. Every single piece of information you give them you should expect that it may end up in the hands of your competitors. Never trust a banker or any professional wearing a tie who smiles and tells you that you can trust them. Trust me, as I do not wear a tie and I am not bank of Lance. Consider this in 2006.
Lance Winslow
Article source: Expert Articles
Most Recent Articles in Ethics category
- Increase Your Productivity By Engaging In Safety Consulting - By: Azeem Ashraf
The number of industries has been increasing, by each passing day and it has resulted in more opportunities for the people. There are more and more jobs opened now. - Countless Benefits Of Safety Consulting - By: Azeem Ashraf
It is the right of every worker to work in a secure and healthy environment. The duty of the employers is to supply their labor force with an environment, which is safe and health friendly. - Provide Safety Training To Your Workers - By: Azeem Ashraf
Industrial workers are working in risky conditions. The workplaces are filled with complex procedures. This is the reason, why the labors' lives are at stake. - Safety Training For Garment Manufacturing Workers - By: Azeem Ashraf
Occupational Safety and Health Administration (OSHA), is the most effective and influential law, which has been formulated and designed by the US Federation. - Safety Consulting: An Accurate Guideline For The Employers - By: Azeem Ashraf
The workers, who work in the industries like chemical, fiber, steel, glass, construction and garment manufacturing are supposed to work in complicated working conditions. - Safety Equipment Secures The Lives And Health Of Workers - By: Azeem Ashraf
There are many chances that the workers of various types of industries can get injured or can go through serious accidents. The more the work processes are complicated, the more are the chance of accidents and injuries. - Safety Training Reduces The Chances Of Workplace Injuries - By: Azeem Ashraf
Safety of the workers should be the prime concern for the employers. Workers, who work in tough, complicated and risky workplaces, are at high level of risk. - Safety Products Ensure The Safety OF Your Workers - By: Azeem Ashraf
Workers, who work in different types of industries, are working in risky environment. There is high level of risk attached to the industrial workplaces. - Facitlitate Your Workers With Safety Products - By: Azeem Ashraf
The number of industries has been increasing, by each passing day and it has resulted in increased opportunities of employment for the people. - Decrease Workplace Injuries By Safety Equipment - By: Azeem Ashraf
Occupational Safety and Health Administration (OSHA), is the most effective and influential law, which has been formulated and designed by the US Federation.