Having high service quality makes it easier to grow the business organically. The goodwill created by being known for exceptional service can be powerful in terms of retention (customer and employee), cross-sales and referrals. Most organizations want to provide exceptional service; very few organizations have the resources, training, culture, creativity and focus to actually be exceptional.

Relationships are complicated. The dynamics of give-and-take can be confusing. How much to give? How much to take? Creating balance in any relationship is important.

No, you haven’t accidently linked to a personal advice blog – I assure you I’m talking about relationships between consumers and financial institutions. Interpersonal relationships are much more complex and beyond my area of expertise.

The cumulonimbus formed over the financial services industry has sent many of your competitors to seek shelter. Formerly ‘tough’ institutions are having a tough time getting going. Sadly, many well-capitalized, financially-sound institutions are following suit, waiting out the storm in a safe, dry place. But, I would argue that now is precisely the right time to capitalize on opportunities to grow market share. Institutions that have the gumption to start singing in the rain, really should.

“I ain’t paying bonuses to anyone for just doing their job!” could be overheard from many executive-level meetings when someone bravely suggests the idea of sales incentives for the first time. The concept can be a lightning rod in many organizations.

Many of your competitors are turning away new and existing business customers. Organizations with liquidity (and the desire) have a great opportunity to develop relationships with businesses. By focusing on the small business basics, we can leverage these opportunities while strengthening market share during this economic downturn. As a former commercial lender, here are five recommendations to grow business relationships.

Richard E. Taber, chairman of the board and CEO of the First County Bank, Stamford, Conn., started as a part-time teller 42 years ago. First County Bank is a $1.2 billion (in assets) mutual savings bank that is operated for the benefit of its depositors rather than shareholders. The bank’s mission will always be to serve its customers and the communities in which they live. We caught up with Mr. Taber a few weeks back to get his take on the economy and challenges to our industry.

Lately I have been spending a lot more time than customary speaking with clients about generating deeper relationships with their customers. It seems that in these tough economic times, institutions are sharpening their focus on developing the franchise they currently possess.