For a more traditional small businesses, Alex would be helpful in opening a line of credit, setting up payroll through the bank’s system, suggesting a money market account or CD rotation to park cash, etc — all with a personal familiarity with you and your business, while genuinely invested in helping it financially grow (because that’s good for the bank).
Having a good banker that you trust is very helpful when you’re running a small/local business or bootstrapping.
And yes, just like an B2B SaaS or freemium game that gets lucky and lands a low-maintenance whale, a banker can sometimes earn a lot for doing very little. But that occasional exception doesn’t mean that they’re useless and “need to be competed out of business”
A more traditional small business would have some assets other than whiteboard scribbles and slide decks, and life expectancy of more than a couple of years.
Having a good banker that you trust is very helpful when you’re running a small/local business or bootstrapping.
And yes, just like an B2B SaaS or freemium game that gets lucky and lands a low-maintenance whale, a banker can sometimes earn a lot for doing very little. But that occasional exception doesn’t mean that they’re useless and “need to be competed out of business”