Ep115 John Delucia Chief Lending Officer Citizens State Bank

In this episode of the Default Profitable Podcast, host Matt Nettleton speaks with John DeLucia, a seasoned business banker, about the critical role of local banks in supporting small to medium-sized businesses. They discuss the importance of financial literacy, the value of having a dedicated banker, and the lessons learned from years of experience in business banking. John emphasizes the need for business owners to understand their financials, the significance of planning, and the necessity of building strong relationships with their bankers. The conversation also touches on practical advice for aspiring entrepreneurs and the importance of cash flow in business success.   takeaways

• Building a relationship with a banker is critical for small businesses.
• Understanding financial statements is essential for business owners.
• Planning is a valuable process, even if the plan is not perfect.
• Cash flow is king; revenue generation should be a priority.
• Local banks can offer personalized service that larger banks cannot.
• Business owners should not skimp on hiring good advisors like accountants and attorneys.
• It's important to have a funding plan before starting a business.
• Business plans should be created for the owner's benefit, not just for securing loans.
• The difference between a bank and a banker is significant for business success.
• Hiring and firing decisions can greatly impact a business's health.

you can learn more about John on LinkedIn https://www.linkedin.com/in/johndelucia/

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