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The Critical Connection Between Culture and Strategy

Friday, December 3rd, 2010

The connection between a credit union’s strategy and its culture is a critical component of its strategic success. If the culture is strong, then words and actions are aligned.

When you are able to combine that alignment with a well-defined long-term strategy that is clearly communicated to the team and used to guide day-to-day actions, you greatly increase the chances of achieving your long-term vision.

The diagram above summarizes the inherent interconnectedness of strategy and culture. The opportunity for today’s credit union leaders is to assess where they are in the diagram and then define an action plan that moves them toward the lower right quadrant where the credit union thrives.

ACTION ADVICE: Take a serious look at the culture in your credit union and its alignment with your overall strategy. Which of the four quadrants in the diagram best describes where you are today? Which of the quadrant descriptions best fits you credit union? What is keeping you from moving into the Thriving quadrant? Define your 2011 action plan with a goal of moving away from your current position and toward your desired position.

Posted in Credit Union Strategy, High Performance Culture Building, Strategic Planning, Strategic Thinking | No Comments »

The to Secret to Improving Member Service is Always DWYSYWD-WYSYWDI

Wednesday, December 1st, 2010

Over breakfast with a couple of colleagues last week the conversation drifted to service, more specifically the lack thereof in most places of business today.

The core issue was a simple one: Shared frustration over the increasing frequency of people saying they will do something by a certain time, but failing to actually follow through and do it.

Each of the people at the table had at least one recent experience where they had dealt with a business that promised to do something and either never did it, or only did it when the person contacted them to ask why it had not been done.

In a word, this is UNACCEPTABLE.

But there is good news.

The solution is straightforward and easy for your credit union to implement. Simply teach your team to “Do What You Say You Will Do–When You Say You Will Do It (DWYSYWD-WYSYWDI).” Or better yet, before you say you will do it.

That’s all there is to it: DWYSYWD-WYSYWDI, for every member, every time. It’s the secret to successful member service, and it always works.

ACTION ADVICE: Teach your team to use this simple concept, put it to work, and watch your credit union grow.

Posted in Credit Union Strategy | No Comments »

Credit Union Strategy: How Will You Invest the Next 31 Days?

Tuesday, November 30th, 2010

Chances are that someone will say this in your credit union sometime tomorrow: Can you believe it’s December already?

Well it is, and here’s why that matters to every credit union leader.

The arrival of the last month of the year means that you have 31 days left to invest before 2011 arrives…

31 days to wrap up the projects that were going to be completed this year
31 days to celebrate the successes achieved this year
31 days to decide what is not going to get done, to accept it, and to allocate energy where you can make the most impact
31 days to assess what worked and what didn’t, and to decide what’s next
31 days to finalize your action plan for 2011 and get your team excited about pursuing it

It’s an amazing gift, and it’s all yours…31 days to do whatever you need to do to ensure that you end 2010 the way that you want and to plan to make 2011 a great year for you, for your credit union, for your credit union’s members, and for your credit union team.

ACTION ADVICE: Block out an appointment with yourself today an answer the question: How will you invest the next 31 days? Then return to the credit union tomorrow ready to take action and create your most impact-filled month of 2010!

It’s Your Turn…Share your plans by posting a comment…what will you do with your 31 days?

Posted in Creative Ideas, Credit Union Strategy, Improving Organizational Effectiveness, Leadership Development | 2 Comments »

Business Development: What Makes You Different?

Tuesday, November 16th, 2010

It’s a seemingly simple, almost innocuous question, but it’s one that few credit unions have answered effectively: What makes you different from the other choices that consumers have in the financial services market space?

Think about it.

No doubt you can quickly come up with a list of businesses that you frequently patronize and identify what it is that makes you go there. Chances are things like price, service, selection, location, and people would top your list as the reasons you return.

If we probed a little deeper and asked about the other choices–the businesses you do not patronize–we would learn a bit more about what makes the places you do frequent different from those that you do not. From the conversation, we would be able to readily identify what really matters to you and we would learn what you see as the differences that each of these businesses delivers for you.

And therein lies the secret to defining a successful long-term strategy for your credit union. Learn what your members see as your difference, leverage that difference and make it your true competitive advantage. Then focus on doing that thing better than anyone else and letting prospective members know that if that is what they want, then they need to join your credit union; and be comfortable knowing that if they want something else, then they can go somewhere else.

Remember: Trying to be all things to all people has never worked for any business (and never will).

Southwest has low fares, The Ritz Carlton has unbeatable service, and Walmart has low prices. What does your credit union have?

ACTION ADVICE: Engage your members in a conversation about what they see as the difference your credit union brings to the financial services market. In other words, ask them why they use your credit union for the products and services they use it for, and why they do not use it for other products and services you offer. Make a commitment to really understand how your brand and your business are seen through the eyes of your members. Then get serious about dropping the products and services that are not differentiating you and reallocating resources to do the things you do best even better. That will create a definable difference and position your credit union for long-term success!

Posted in Business Development, Credit Union Strategy, Effective Marketing Strategies | No Comments »

Create, Test, & Adjust–Your New Mantra for Change

Tuesday, October 19th, 2010

One of the inherent challenges in leading your credit union is finding a way to change things when things need to be changed. Volumes have been written about the natural momentum in organizations that gets in the way of implementing even the best ideas.

But my point is not to lament those problems, nor to suggest magical solutions to them. Instead my goal is to suggest that there is one critical step that needs to be taken before you even consider changing anything the you do in your credit union: Change the way you think about change.

The reality is that change is a part of any growth process. More important, change always happens incrementally. (more…)

Posted in Creative Ideas, Improving Organizational Effectiveness, Increasing Efficiency, Leadership Development, Strategic Thinking | No Comments »