We want you ..... NOT!

Investec Private Bank are currently running a series of TV ads appealing to the entrepreneur, with lines like, "Entrepreneurs don't follow formulas, they create them" and "Where one and one don't always equal two". Investec have obviously identified entrepreneurs as a desired target market which, on the surface, seems amazing because many banks don't like the risk involved with people who "create their own formulas".

However, take a closer look at Investec's offering and it becomes a little confusing. Their requirements contradict their appeal for entrepreneurs. In order to become a client of Investec Private Bank, you need to personally earn over R550,000.00 annually and your company needs to clear an annual profit of over R350,000.00. In other words, you, as the owner of the company, need to realise a combined annual increase in worth of almost a million Rand.

Interesting...

Interesting in that the bar has been set quite high for the good 'ol entrepreneur. Sure there are plenty of people who attain this easily, but there are plenty of exceptional entrepreneurs whose businesses are thriving but who don't make the grade according to Investec. Here are some of the basic business rules Investec don't seem to take into consideration:

1. An entrepreneurial business needs to re-invest as much as possible in order to grow the business
2. An entrepreneurial business needs to keep salaries lower at first in order to afford to grow
3. An entrepreneurial business needs to keep profits as low as possible in order to be less burdened by tax
4. An entrepreneurial business needs a bank that understands it's needs and offers solutions that are suitable

Investec, you really are a great private bank, but why spend millions targeting a market you don't actually want as clients?