As 2026 rolled around, so did my 22nd year of being a commercial banker. Twenty-two years of meeting with business owners, from startups to companies generating $250 million in revenue, from single-member enterprises to multi-owner corporations. I have met with medical practices to manufacturing firms, industrial companies to professional businesses, and in all my interactions with business owners, I have found one thing in common. They all want their business to succeed.
My interactions with business owners have given me a front-row seat to assess what separates businesses that thrive from businesses that don’t. While every business is unique, the principles behind long-term success are remarkably consistent.
1. Financial Discipline Trumps Size
The businesses that endure aren’t necessarily the fastest-growing or even the most profitable, but they’re the ones whose finances are managed well.
As we know from our personal finances, it is not the paycheck you receive that defines your wealth, but what remains after the bills are paid. Businesses are no different. Top-line revenue is an indicator of success, but the net income is what really counts. Bankers care about net income, and they lend to net income. Net income is available to pay loans, it determines your K-1 distributions and demonstrates the health of your business.
Are you protecting your net income?
Has there been “expense creep” eating away at that all-important bottom-line number?
Do you know why the bottom-line number is what it is?
What are you doing to protect the bottom line?
Are you managing debt well?
Are you making decisions based on emotion or financial data?
So, the first thing your banker wishes you knew is what drives your net income. Great businesses don’t happen by accident; they are built through disciplined financial habits.
2. Relationships Are Strategic Assets
Successful business owners recognize they don’t have to do everything themselves. They intentionally build relationships with trusted partners like their banker. They do not wait until there is a crisis before reaching out for help. They see an issue and address it immediately. Your banker wants to help and offer advice before a situation deteriorates.
They use their partners as sounding boards. Over the years, I have seen successful business owners present a proposition to me, ask what they need to do to get there, implement the advice given and return ready to move forward knowing they are in a good place. It is called planning — something that struggling business owners fail to do. We have three answers for loan requests: “yes,” “no” and “not yet.” The “not yet” clients with a success mentality are not threatened by this answer. They see it as a positive step to moving their business forward, knowing the extra time will help build a stronger business foundation.
The second thing your banker wishes you knew is they want a relationship with you and they are here to help. Strong businesses are rarely built in isolation.
3. They Think Beyond Immediate Success
Successful business owners don’t simply focus on the needs of today but are constantly looking ahead and planning for the future.
These owners are asking what future growth looks like, how expansion will be financed; they assess risks that could derail the business and they have a succession plan. As the old saying goes, “failing to plan is planning to fail.” You must have a plan, and your banker needs to know your financial plan. Regular meetings with your banker will help them better serve your needs, reach out if a promotion comes up that could benefit you or they hear of an opportunity that would benefit you.
It is often said that what you don’t know won’t hurt you, but what your banker doesn’t know may very well hurt you.
The third thing your banker wishes you knew is that they care about your business and your future plans, if they only knew what these were! Meet with your banker regularly to enable them to be the best partner possible for your business. Successful business owners manage today’s business well while planning for future opportunities.
These principles have another advantage: They mirror the perspective of a seasoned commercial banker. They move beyond technical banking — service requests and maintenance — and into the world of a trusted advisor — one who has observed many businesses, both successful and unsuccessful over the years.
Rosemary McClelland is a commercial banker with First Citizens Bank, where she is in her eighth year. She has been in banking her whole career, much of that working with commercial clients for both lending and deposit needs. A passion of hers is woman-owned businesses, which is why she joined NAWBO and is thrilled to have met so many motivated and successful women in her 15 months as a member.
