Banks are not your friends. Banks like to talk about partnering with businesses and being the friends of entrepreneurs. They don’t and they aren’t. These financial institutions are out to make a buck and your interest is not what is topmost in the minds of their executives. And that’s okay. There’s plenty of room for commercial relationships. But remember that it’s always time to negotiate better deals when possible and to evaluate the performance of a bank. When Goldman Sachs made some major blunders in the private offering Facebook did last year, Mark Zuckerberg and his management team reconsidered who should lead the IPO and reportedly chose Morgan Stanley (and Goldman may have taken a third place position in selling the IPO). If you can’t at least get the level of cooperation necessary to make business happen, then start looking for a bank that can deliver what you need.
6 Lessons that Facebook's IPO Can Teach Entrepreneurs