IE Business Daily Business news for the Inland Empire.
On Professionals of the Inland Empire podcast, this week host John Tulac is joined by “The Loan Doctor”, Eugene Valdez. Valdez is a former banker and business consultant, author and podcast host of CEO to Rainmaker.
Valdez, motivated by a desire to enhance the skill set of CEOs and reduce the high mortality rate among small businesses, started his podcast to educate small business owners on various business aspects like marketing, sales, operations, and finance.
Tulac and Valdez discuss his transition from banking to becoming an expert business consultant. Valdez wrote a book in the 1990s about how businesses can qualify for and obtain loans from banks. During his time as a banking executive, Valdez observed internal politics and realized many loan applicants were unprepared, lacking knowledge of what banks expected and what “bankable” meant. Valdez’s book served as a fill-in-the-blanks workbook designed to help businesses prepare loan applications. He emphasized the importance of pre-planning and anticipating bank requirements to improve the chances of loan approval. Understanding the purpose of the loan, its benefits in terms of increased sales and profits, the business model, and value proposition are also very important.
As a consultant, Valdez guides clients through the loan application process, tailoring presentations to maximize their chances of success. He also approaches multiple banks (four or five) simultaneously to create competition, securing better terms and conditions for his clients. Valdez has a 90 percent success rate in securing loans for his clients.
Valdez also founded the Inland Empire Business Doctors as a private networking group for professionals to share knowledge, help each other’s clients, and foster referrals. The goal was to consolidate individual meetings into a group setting, promoting synergy, learning, and referral opportunities. Focus on relationship work rather than just networking. Inviting specialists improved efficiency and saved travel time, creating internal referral possibilities.
The Inland Empire has a robust entrepreneurial landscape and performs well on economic indicators. Advice and mentoring are crucial to keep businesses afloat. Businesses must recognize that previous methods may no longer work and adapt accordingly.
Catch the full show on YouTube @ProfessionalsofInlandEmpire.
