Space_&_Equity Founder Obi Chukwumah sits down with his brother and COO, Chiedu Chukwumah. The brothers dig into their Decoding Banking Series where Obi uses the alphabet to explain elements of Commercial Banking. Today, Obi covers J- Joint and Several, K- Kiting, and L- Lien.
The brothers go on to discuss an upcoming meeting Obi has set up to broker a potential deal between a client of his and potential investors. Obi talks about his journey as a Commercial Banker and how over time he learned that brokering deals is all about relationships and experience.
If you are interested in learning more about how to broker deals, let us know in the comments?
#ComeCorrectPodcast #DecodingBanking #FromTheFieldToTheBoardroom
0:00 - Introduction
0:24 - 1st Field To The Boardroom (FTBR) Plug
Register for FTBR: https://spaceequitycorp.com/pages/field-to-the-boardroom
1:15 – Decoding Banking Series intro
1:28 - Decoding Banking Term: Joint and Several Liability
4:00 – Decoding Banking Term: Check Kiting
6:45 – Decoding Banking Term: Lien
9:15 – Chiedu asks about Space_&_Equity verticals, Scooter’s & Come Correct Consulting
10:10 – Obi’s Journey in Commercial Banking, how he learned to broker deals
11:00 – Obi gives an example of how he is brokering an actual deal!
14:00 – A good Broker must know the following details about the deal!
15:40 – Banks and Lenders expect the buyer of a business to understand the business and know how it will operate
16:10 – Setting your expectations and compensation structure upfront before closing the deal
17:00 – The difference between a Broker and a Referral
17:15 – As a Broker, you must understand the business or opportunity you present
18:12 – What Obi looks for in a Pitch Deck
19:56 – Four Stages of a Deal
21:08 – Obi wants the audience to understand that the Money Game is a tool, understanding the tools at your disposal is key
22:14 – 2nd FTBR Plug! Wealth development is a Team Sport!