Strategic Planning is Like Running a Half-Marathon

Strategic planning for a lot of companies is an annual exercise in thinking big, dreaming of possibilities. Unfortunately, for a lot of these organizations, strategic planning stops there and this annual ritual that when the ritual is done, everyone returns back to business as usual. Let’s stop for a minute to really understand what strategic…

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Strategic Planning is the Easy Part

Working with organizations across the country, I see a familiar process when doing their strategic planning. A typical process I’ve observed is loosely following these steps: Once a year a strategic planning event is scheduled with the Board and a few key executives The event starts with a “state of the industry today” presentation, typically…

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Pay for Performance and Reputation Risk

An increasing trend in the financial services sector is “pay for performance.” This practice shows up in several formats: Commission – rep is paid a percentage of balances acquired Incentive – rep is paid per closed referral Bonus – rep is paid based on goal performance over a set period (per month, quarter, bi-annually, annually)…

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A Career Transition Essential – Staying Relevant

Navigating a career is never easy. There will be obstacles and disappointments. There will be joys and celebrations. At times, even new opportunities come to you from “out of the blue.” It is when those obstacles, disappointment, and “out of the blue” situations happen is when the true grit of a leader comes to the…

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Is your Credit Union’s Org Chart Strategically Aligned?

Is your credit union organized for today’s consumers? Credit unions are often “stuck” in an organization chart that reflects the business of the past, not the company of the future. But what needs to change? Too often the credit union’s org structure is aligned historically based up legacy roles and job descriptions. The problem with…

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3X3 Essentials for Business Development

Business Development success is essential regardless of your credit union’s field of membership. BD success requires focusing on three critical measures: growing members, assets, and balances; the first 3 of the 3X3. Generating sustainable growth of members and assets is the key to a credit union’s survival. Even if one of your credit union’s key…

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Branching Strategy, It Starts with the Member

Historically branches are seen as transaction channels. Today, this view of branches has changed and continues to evolve. Members and potential members like the convenience of brick and mortar, they like the demonstration of financial strength and security. Still, the truth is, they rely less on branches for their daily, weekly, and monthly transaction business…

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Financial Literacy vs Financial Wellness – a Consumer’s View

Credit unions and banks across the country have financial literacy on their to-do list, but what consumers need/want is a roadmap to financial wellness, not just financial literacy. Well, what’s the difference? Financial literacy is about understanding money basics. Typically the curriculum includes topics like “how to balance your checkbook,” “what is a savings account,”…

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Moving From Incremental to Transformational Growth

Too often I see organizations that keep getting in their way. They celebrate mediocre performance, average results, and incremental growth. Occasionally I find an organization that is satisfied in just cruising slowly into obsolescence, not willing to admit what is happening to the company. Today’s competitive, fast paced business climate does not tolerate medeocracy for…

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