BLOG: Banking to Batteries: A Brave New World

Hi  

Lots of communications nowadays can be quite formal, so, to counter this, recell.store is starting a blog! 

With no particular agenda, it’s a space to share some thoughts on our sector and emerging marketplace,  the people we come across, the challenges we have faced so far and, maybe, even some of our learnings. 

As Managing Director of recell.store you might be surprised to know my background isn’t in EV batteries. I forged my career in banking, which might seem a world away from this brave new world I now occupy, but, actually, over the last 12 months, I’ve noted quite a few similarities. 

Firstly, all businesses, whether old or new, need people who are passionate about finding solutions to problems – and both industries have them in abundance. Both are focused on responding to how the world is changing as well as constantly evolving rules and regulations. And both require agility and active listening – I meet people most days who are striving to develop something or overcome a challenge. 

Indeed, unwavering customer focus is key in both industries. The products and services may be worlds apart, but a big part of my role at recell.store is about developing customer propositions that work for customers (just as it was in banking). Talking to customers and acting on good (and bad) feedback is absolutely key.  

Every conversation with another business is an opportunity to learn something. Talking to people, and not always in formal meetings, is still the best way of learning(IMO). Remember the days when you used to go to the pub after work and chat about stuff – we need to try harder to reintroduce that.  

Patience is also key (I’m not so good at this one hahaha), but sometimes problems cannot be solved overnight and, as in banking, our sector sometimes requires you to take a step back and consider what is the challenge you are looking to overcome. You cannot solve everything all at once! 

So, what about the differences? …….. 

Well, the obvious thing is that, whereas financial services are intangible products that kind of exist in the ether, batteries are physical things, and with that come lots of different challenges.  

For example, How do you move them? Where do you store them? How do you dispose of them?  What price do they attract? (And, let’s not forget, these are hazardous materials so all of this has to be done with safety at the centre).  

The other really big difference is, whereas in banking most things you’re talking about involve well-established practices and procedures, in the battery space, it’s all pretty much new.  

This is the dawn of an industry and an embryonic service cycle – it’s a new way of doing and thinking for most, and that’s very different from the banking world.  

Despite these fundamental differences, I think the the behaviours required are very similar: a desire to really understand your customers and solve their problems; a desire to build loyalty, trust and a seamless service people can rely on. 

My belief is all great customer relationships are built through conversation – it’s good to talk – so please don’t hesitate to get in touch to discuss your needs, even if you haven’t as yet started working with EV batteries. 

Just don’t ask me about what to do about your mortgage – I’m all about the batteries these days! 

Kind regards 

Simon Reid  

Managing Director, recell.store