Allan Carlos Hizon and Darryl Urbanski discussed cash management strategies for business growth, including choosing the right institution and understanding legal frameworks for international transfers. They emphasized the importance of clear communication and tailored sales approaches in banking services. Allan Carlos Hizon added that businesses must adapt to changes in the financial landscape and seek proper financial advice. Overall, the conversation highlighted the challenges and opportunities in managing cash flow and building long-term relationships with banks.

Resources

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Episode Highlights

Banking and sales career path, cash management experience, and problem-solving skills

• Allan Carlos Hizon's family has a history of entrepreneurship, with his younger brothers starting their own businesses.
• Allan Carlos Hizon's career in finance and sales began naturally, without any direct family influence.
• Allan Carlos Hizon discovered interest in banking through coursework and mentorship.
• Allan Carlos Hizon shares their career journey in cash management, highlighting problem-solving skills and adaptability.

Cash management and sales strategies for businesses

• Cash management service helps businesses manage day-to-day cash flow and identify payment sources.
• Allan Carlos Hizon emphasizes the importance of product knowledge in sales.

Sales techniques, customer care, and company policy

• Allan Carlos Hizon emphasizes the importance of understanding clients' needs and communicating the value of services in language they use themselves.
• Daryl Urbanski highlights the disconnect between businesses optimizing for keywords and consumers searching for specific products or services, and the importance of tailoring communication to the customer's perspective.
• Daryl Urbanski and the speaker discuss the importance of tailoring communication to the audience, including adjusting language and tone based on the client's needs.
• Allan Carlos Hizon emphasizes the importance of preparing the client's message for presentation, to minimize mistakes and ensure the message is clear and effective.
• Allan Carlos Hizon emphasizes the importance of genuinely caring for customers while balancing company policies.
• Allan Carlos Hizon stresses the need for salespeople to listen actively and offer alternatives to clients.

Banking services and finding the right bank for businesses with Allan Carlos Hizon

• Allan Carlos advises businesses to find a bank that offers services for free based on deposit balances.
• Allan Carlos suggests that businesses should choose a bank with low opening balance requirements as they grow.
• Daryl Urbanski suggests shopping around for banking services to compare rates and deals, and to have existing relationships with multiple banks.
• Allan Carlos emphasizes the importance of maintaining a relationship with customers and communicating how their bank's services are better than their current bank.

Cash management, online transactions, and banking security

• Daryl Urbanski discusses the importance of cash management and online transactions.
• Allan Carlos highlights the need to reassure clients about online transactions and government subpoenas.
• Daryl Urbanski shares his personal experience with the Canadian banking system, including a frozen bank account and unexpected fees.
• Daryl Urbanski's faith in banks was shaken after a stressful experience with overdraft fees and account freezes.

International business and financial transactions, including challenges and delays

• Individuals should choose electronic transfers for international cash management to avoid higher fees.
• Businesses typically use wire transfers for international cash management due to norms.
• Allan Carlos discusses how the industry has evolved to enable faster transactions, despite restrictions on real-time transfers in the Philippines.
• Daryl Urbanski provides insights on the delays in transactions due to the US government's control over the supply of US dollars, and how some countries, like Canada, have printed large amounts of money in recent years.
• Daryl Urbanski discusses the challenges of international trade and currency valuation.
• Daryl Urbanski's friend in the Philippines has a side job chasing down Marcos-era generals with unaccounted-for USD.

Building trust in banking relationships and the importance of excellent customer service

• Allan Carlos highlights the importance of transferring money as fast as possible for banks, while Daryl Urbanski agrees and adds that physical goods, locations, and licenses can be competitive advantages.
• Daryl Urbanski emphasizes the importance of building long-term relationships with customers and vendors, even in the face of economic uncertainty.
• Allan Carlos agrees, highlighting the value of a banking relationship that prioritizes mutual trust and support over short-term gains.

Choosing banks and cash management services

• Allan Carlos advises businesses to look beyond the person they're talking to and evaluate the institution's reputation, services, and support.
• Allan Carlos suggests asking a personal question to the bank representative to gauge their sincerity and the company's support for its employees.
• Allan Carlos emphasizes the importance of choosing the right financial institution for your business.

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