Hello, I am Chris Bjorklund for the Business Resource Center. Today I am talking to Ed Lette, President and CEO of the Business Bank of Texas. Now that you have your business resource center up and running Ed, how do you envision small and mid-size businesses using this center?
Lette: I am so excited about this I don’t even know if I can talk about it. It is going to be fantastic for the business owner to have this resource. Our business resource center will not only have timely up to date information coming from 20 plus experts in many fields and will also have a library of resources you can use in your business.
The main reason we wanted to make this information available online is so business owner’s can use it on their own time frame. I can see myself sitting at home at any hour and be able to research it on the business resource center. Business owners too will be able to use our resources any time.
Bjorklund: So there will be articles there, blogs, podcasts like this one. Will there be videos too?
Lette: Yes, there will be videos, podcasts, videos, even access and information on different types of software and tools that will allow a business owner operate their business better. One of the things I really like is to see business owners use cash flow forecasting and learning how to look at their cash flow. Many business owners don’t do that. This will be a great opportunity for businesses in Central Texas and particularly Austin to have access to experts who are from Texas and in fact all of our contributors are from Austin.
Bjorklund: So your focus is going to be on Texas businesses?
Lette: Yes. It is not that Texas businesses are different than any other businesses but Texas is our market and we need to focus our help to businesses in this market.
Bjorklund: Now what kind of content might be specific to your site that I might not find in other places?
Lette: Well I think we have at least 3 Ph.D.s, four authors at least who are published on subjects that we feel are very important on time management, cash flow management and resource management. We have experts in many areas who have a great deal of experience in their subject matter.
Bjorklund: Austin has been in the news a lot lately as a place to do business. What makes Austin so attractive for companies to do business there?
Lette: Number one it has a very talented labor pool. Recently there was an article in Forbes magazine showing the number of people moving from other parts of the country to Austin. Many of them are moving for jobs, but also quality of life.
I myself am a mountain biker and I love it here. There are so many places here that I can do that. Also as a side note for Austin, Business Bank of Texas N.A. is the only national bank that is chartered and headquartered in Austin. We are really excited about what is happening and going on in Austin.
Bjorklund: People say that Austin is the place. You not only have the talent pool, but also the great quality of life and some of the tax advantages of Texas.
Lette: Oh yes, the Texas tax advantages are phenomenal. Austin itself has South by Southwest (SXSW) which is a big music festival to the Republic of Texas motorcycle rally here that had 40,000 plus riders that come here in May or June every year. Austin is a varied city with many things to do for nearly everyone. One of Austin’s mottos is “Keep Austin Weird” because it is really a mix of culture here.
Bjorklund: So I know that you believe that business owners aren’t getting enough continuing education and you hope in a way that the business resource center will fill that need.
Lette: The business resource center will introduce them to all these experts, many of them have been published, so the information coming from those people are going to be so important. I am a CPA and we have to do 40 hours of continuing professional education per year. So its just important to keep up. Things are changing and we want to help business owners keep up.
Bjorklund: You have been listening to Ed Lette, Chairman and CEO of the Business Bank of Texas N.A. The Business Resource Center is a free resource for all businesses made possible by the Business Bank of Texas, N.A. I’m Chris Bjorklund.
Founder, President and CEO, Business Bank of Texas, N.A.