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Bank Hacking for Store Owners

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Double Your eCommerce Business in the Next Year

...by requesting the most effective growth and profitability strategies we've unearthed from 5+ years of studying successful stores.

If you love geeking out on the finance side as much as we do, this is an episode you definitely don’t want to miss! I’m going down the rabbit hole of banking, lending, and financing with Bill D’Alessandro, founder and CEO at Elements Brands and frequent co-host of this podcast. Consider this episode a master cheat sheet for all entrepreneurs who want to get their finances in order and get the most out of their banking relationships.

Listen in as we discuss the pros and cons of both the big banks and modern online banks, how to get banks to work with you as quickly and efficiently as possible, and some of the factors you need to consider when you’re borrowing money. You’ll learn Bill’s credit card hacks to get the most out of this “free money,” how to increase your power with the big banks, and more.

You’ll learn:

  • The balance of diversifying your banking experience. (6:45)
  • Pros and cons of the big national banks. (7:15)
  • How to increase your power with the big banks. (10:25)
  • How to make business lending work well for you. (11:30)
  • Entrepreneurial tips for working with bankers. (15:55)
  • When you may (or may not) want to consider an alternative lending source. (18:35)
  • The pros and cons of modern online banks. (23:05)
  • Tips if you’re considering moving to a high-yield bank. (27:10)
  • Why you should be using credit cards. (30:25)
  • Chatting with Travis Price from Mercury Bank. (37:55)

Subscribe: iTunes | Stitcher

(With your host Andrew Youderian of eCommerceFuel.com and Bill D’Alessandro of Elements Brands)

What Was Mentioned

Ideas Worth Sharing:

“If you have an amount of money you want to borrow, start thinking of that collateral because that’s the first thing banks will want to know.'”- @BillDA Click To Tweet “Always ask: what is the applied APR?”- @BillDA Click To Tweet “You can create a lot of cash out of nowhere just by using your credit cards.”- @BillDA Click To Tweet

Image credit to Alexander Mils from Unsplash.

Posted on: March 19th, 2021

Andrew is the founder of eCommerceFuel and has been building eCommerce businesses ever since gleefully leaving the corporate world in 2008.  Join him and 1,000 vetted 6 and 7-figure store owners inside the eCommerceFuel Community.

Double Your eCommerce Business in the Next Year

...by requesting the most effective growth and profitability strategies we've unearthed from 5+ years of studying successful stores.

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