He is not your stereotypical bank manager by any stretch of the imagination.

James Munro has a small office in Superbank’s modest Mt Roskill premises, wears a black branded polo shirt and drives a boldly branded Mini. He’s also more than happy to share his knowledge on business start-ups, customer satisfaction, and just about any other subject concerning business owners.

You could put this down to the fact that Superbank is not your traditional bank, and Munro doesn’t have a conventional banking background. A trained accountant, he has worked for The Economist and for Euromoney Plc in the UK, and had a three-year stint at TVNZ, finishing as general manager, strategy.

His strategy skills have been well exercised in the two-plus years that the phone and Internet bank has existed. Superbank has quickly gained a reputation for innovative products, such as SuperHomeloan (which rewards borrowers with interest rate discounts for the length of the loan). And while it has no ‘bricks and mortar’ branches as such, it does offer EFTPOS and ATM access. Also, being a joint venture between Foodstuffs and Australia’s St.George Bank – Superbank can use supermarkets throughout the country to promote its services – which is proving to be very effective.

Some might say that Superbank’s creation, with all its powerful backing, provides few similarities for fledgling small businesses – but Munro would beg to differ.

"The lessons are relevant regardless of scale. In fact, the smaller the start-up, the more applicable the lessons."

He says the start-up process is certainly much harder than most would predict, and that’s because the reality of having nothing to start with bites a lot harder than you think.

"My advice is that you cannot do enough pre-launch scoping work and market research. Investment at the front saves significant pain later on – but know that you can never have all the answers, or even 50 percent of them, before you start. If you did, it would be easy!"

Challenge your own preconceptions and assumptions, he says. Ask yourself what could go wrong, and involve a fresh set of eyes both at start-up phase, and later on when you can’t see the wood for the trees.

"Look for someone you already respect in business, and show them your business plan. They don’t even have to be in your line of business. Remember, often there is only a small degree of separation between businesses that make it, and those that don’t."

Munro says that most start-up plans must change and adapt as a business develops – start-ups are about continual change, perpetual motion. He believes you should think in terms of at least five years for a start-up – that’s generally how long it takes to become established as a successful business.

Once you’re over the initial start-up phase, you quickly move into growth phase, and this can be a real challenge. Managing the business pipeline correctly so you eliminate the boom/bust cycles is a real art.

Munro is bemused by companies that choose not to advertise because in their own words "they are too busy".

"To my mind that is submitting to mediocrity. Business owners should never be afraid of making the growth curve steeper."

Some of the tricks for managing growth include having the correct mix of permanent and casual employees, and adopting good workplace strategies so you become an employer of choice and your staffing levels are maintained (after all, replacing staff or re-recruiting is expensive). Being flexible about the work/lifestyle mix is also critical.

"People are the biggest risk you take," adds Munro. "The people you employ are your most important resource, but if the culture you’re creating is sufficiently energising, you’ll find it’s not that difficult to motivate people, and get others beating a path to your door." He says they’re continually getting approached by people working in other banks.

"The lesson I’ve learned just recently is don’t underestimate the degree of growth you can experience if you get most of your messaging right. Run your recruitment ahead of volume expectation. When your wildest dreams come true you’ve suddenly got a really big problem if you can’t maintain your service standards."

Communication with customers is essential when managing growth, and that also applies to anticipating issues, says Munro. It’s important to maintain standards of service, and "love your customers to death".

"Your customers will continue to support you through reduced service times driven by high growth provided you communicate with them and show commitment to improve."

Munro says that rather than perform long complicated customer satisfaction surveys, Superbank, working with independent research firm New River, simply asks its customers "would you recommend us to your friends or family?"

This strategy is based on an idea by Chicago-based Frederick F Reichheld and, according to Munro, is a highly effective way to measure and manage customer loyalty.

"And it has results for the top line: the more ‘promoters’ a company has, the bigger its growth."

Put simply, when customers promote your company it speeds up the flow of new customers and reduces the cost of acquisition. Your customers should be your best salespeople.

Munro believes that many people get into their own business without a view for the long term. They get in for lifestyle reasons, and make a conscious decision not to grow the business if they feel that it is starting to take over their lives. They also get hung up on mistakes, which makes them back off on growth.

"But realise that mistakes are life’s lessons," says Munro. "Anyone can surf a smooth wave but winners can ride all conditions."

He advises people to include an exit strategy in their business plan, and to stick to it. "The envelope may stay the same, but the contents will change. If you can’t create something that’s bigger than you, and move on – then you need to question why you’re in business in the first place."

Words of wisdom indeed, from a banker who knows.