Archive for the ‘Strategic Planning’ Category

RECOMMENDED READING: The Thank You Economy

Wednesday, June 15th, 2011


Few people have leveraged the power of social media tools like Twitter, Facebook, and YouTube in the way that Gary Vaynerchuk has done.

If you’re not familiar with that name, let me strongly encourage you to invest a few minutes of your time to learn how he used an online TV show called WineLibraryTV to build a brand and grow a business online.  He documents his experiences and shares a lot of insight in his book Crush It!, which was recommended by this blog a few months ago.

But Vaynerchuk’s second book is the one you really need to read.

It’s called The Thank You Economy, and here’s why every credit union leader should devour it:

It is probably the best book available regarding how the emergence of social media tools have forever changed the way customers want to interact with businesses.  The many examples Vaynerchuk shares will stimulate your thinking and reveal ways that you can strengthen member relationships by leveraging these new tools.

ACTION ADVICE: Pick up a copy today, read it, share it with your marketing team, your business development team, your senior management team, your branch managers, and your Board members–it is that important.  Everyone needs to understand what this new economy means and how it will impact everything you do in the future.  Reading this book will help your team come up with new ideas and approaches that will build stronger relationships with your current members and attract new members who will help you grow.  It will be time well invested!

Recommended Reading: Linchpin by Seth Godin

Friday, May 6th, 2011

The recent release of Seth Godin’s bestseller Linchpin in paperback was accompanied by an opportunity that every credit union leader should pursue.

Here’s the deal.

In a blog post last week announcing the release of the paperback edition, Godin offered free access to an awesome video created from an audio of a speech he gave last year to anyone who buys the paperback edition of the book.

It’s one of the best investments you’ll make this year.  You get a great book and access to an amazing  4-part video that will stimulate your thinking, while also showing you the power of motion graphics to tell a story (even if they do at times “run amok” as is stated on the video viewing page).

Trust me.  This is a book you want to read and a video you need to watch if you are serious about creating long term success for your credit union.

P.S.  The video would be a great way to kick-off or prepare for your next Strategic Planning Session…it is filled with thought-provoking ideas that will open the mind and lead to some real outside-of-the-box thinking.

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.

Strategic Planning: 5 Tips for Not Getting Bogged Down by Doom and Gloom Thinking

Friday, September 17th, 2010

The fall strategic planning season is upon us.  All across the country, credit union boards and leadership teams will be gathering in the coming weeks to define their strategic visions for 2011 and beyond.

One of the key challenges for planning teams this fall will likely be not allowing the ‘gloom and doom’ to dominate the discussion.  That’s not to say that they should ignore the realities they face, or that they should avoid the discussion of negative things.  Those issues and topics need to be discussed.

But equally important is to invest time in exploring the possibilities and considering the opportunities that come from challenging times.  Remember that many of the most successful businesses of all times have been launched during less than booming economic times.

Here are five tips you can use at your upcoming planning session to keep from getting bogged down by doom and gloom thinking: (more…)

RECOMMENDED READING: Business Model Generation

Thursday, September 9th, 2010

My post last week regarding the “broken business model” generated a few comments and several e-mails.

The range of comments suggested the need for a better understanding of both the concept of a business model and an opportunity for expanding the discussion of alternatives that might revitalize the credit union industry.

That led me to invest a couple of evenings researching the subject, and in the process I came across an excellent book on the subject that I highly recommend to credit union leaders seeking to lead their credit unions into the future.

It’s called Business Model Generation, and here is my quick assessment after an initial reading. (more…)