Category Business

The Importance of Sales Support

Guest post by Clellena Owens, Sales Operations Specialist at Medallion Bank Effective sales support can really help build strong business relationships and increase your company’s reputation within the industry. Customers talk and a lot of today’s business is built on word-of-mouth or direct referrals. The last thing that you want to hear people say is […]

4 Tips when Changing Business Specialties

It’s inevitable that you’ll be tempted to take your business in a new direction someday. This may be a minor change or a substantial shift. For example, we’re hearing more and more about roofing contractors that are considering metal roofing as part of their product mix. Some are completely restructuring their business model around this […]

What’s really going to happen with interest rates?

Well, in short…they’ll go up. But that’s the obvious answer. There’s a lot more to discuss. If you pay attention to the business or economics articles in the news, everything seems to be about the Fed. When will they raise rates? How will they exit QE3? Will the market tank because of it? Should the […]

Headed down the rabbit hole (again)

Where were you in 2008? There are several narratives for what happened leading up to the Great Recession. On the left you’ll hear that the banks forced innocent and unsuspecting borrowers to take out mortgages they couldn’t afford. On the right you’ll hear that the Community Reinvestment Act became the driving force for loan growth at banks, […]

Automation: Friend or Foe?

As both a medium-sized business and nationwide lender, we sometimes find ourselves choosing between providing service in an automated or personal way. While we have consistently hired competent, hard-working people that make a smaller team possible, it’s occasionally tempting to save time with greater automation. In theory, automation can allow a company to conserve time […]

Improving our Business

Our business is constantly a work-in-progress. We are never satisfied with the way things are and always want to improve our process, program, and service for our contractors. This isn’t necessarily a unique position—most companies, when asked, would claim to strive to be “better”. Several weeks ago, we asked ourselves if we were only talking […]

It’s 3am and you wake to the sound of glass breaking

Many of us think about crimes in a personalized way. Crimes are unexpected, painful, and often feature an identifiable human perpetrator and an identifiable human victim. But the crimes we most often experience in finance are much more impersonal. They are the seemingly minor transgressions by one person directed at an entity, which makes it seem victimless. “It’s OK,” […]

Operating on a level playing field

Whether we admit it or not, we all subscribe to some concept of “fair”.  However, just as beauty is in the eye of the beholder, fair is also largely subjective.  What is fair to me may not seem fair to you. For example, it is well-known in financial circles that banks are not fond of […]

4 Steps to Working with the Right Professional

Choosing to work with a new company/individual isn’t easy. “Change” from working with one professional to another is even more difficult. It takes diligence and time to research your options and come to a well-informed decision. When all that glitters is not gold, it’s up to you to use the resources at your fingertips to […]

Will we all have boomerangs someday?

A few days ago, Adam Davidson penned an article for the New York Times called It’s Official: The Boomerang Kids Won’t Leave.  The article is worth reading as it covers in detail something I’m seeing with family and friends; kids don’t leave home at 18 anymore (or 25, or sometimes even 30).  If widespread, this […]