Everyone knows growing business is necessary. But not many financial institutions (particularly credit unions) are really serious about doing it.

Why is that?

If they want to be “in the game,” FIs must grow their customer base for the corresponding business they can bring into the relationship.

Growing business is really important from an asset liability management (ALM) standpoint. If your FI doesn’t actively seek new business, you’re undoubtedly falling behind. If this lack of new business pursuit continues long enough, you’re out of business.

FI executives must remember that any business enterprise begins with communication.

If you want business, you’re going to have to talk to people and ask for it. Perhaps it’s the lingo throwing some FI executives off – stuff like “client tending,” “on-boarding,” etc.

My advice? Don’t make it harder than it needs to be. You’ve got a product (and/or service) that you want people to use. You’re proud of it, right? Talk about it.

One caveat – just be sure to talk about it in the right way. Enumerate the different ways you can provide the products. And don’t forget to ask questions – this further engenders the relationship.

What many people have trouble with is getting past the “selling” bugaboo. Selling is not a bad thing. Anywhere you go – a restaurant, a gas station, a salon – you expect people to sell you something.

Business not only begins with communication, it ends with it as well. Getting your new customers engaged in talking about you to others is the real sweet spot.