Archive for the ‘Strategic Thinking’ 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!

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Posted in Building Relationships, Business Development, Connecting with Generation Y, Connecting with Traditional Members, Creative Ideas, Credit Union Strategy, Growing Your Credit Union, Improving Communication, Improving Member Service, Leveraging Technology, Recommended Reading, Strategic Planning, Strategic Thinking | No Comments »

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.

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Posted in Effective Marketing Strategies, Growing Your Credit Union, Improving Communication, Increasing Efficiency, Leadership Development, Leveraging Technology, Recommended Reading, Strategic Planning, Strategic Thinking | 2 Comments »

Grow Your Credit Union by Improving Your Current SEG Development Program

Thursday, January 13th, 2011

Credit union leaders looking for ways to grow their credit union should take a serious look at their current SEG Development Program, ask some difficult questions, and define an action plan for revitalizing their efforts.  Note that the word current is used to suggest a focus on developing existing SEGs, not attracting new ones.

Here are three reasons why this is important: (more…)

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Posted in Building Relationships, Connecting with Generation Y, Connecting with Traditional Members, Credit Union Strategy, Growing Your Credit Union, Improving Member Service, Strategic Thinking | 6 Comments »

Welcome to 2011: Are You Ready for the Challenges that Lie Ahead?

Monday, January 3rd, 2011

The New Year has arrived.  Everyone is back (or soon will be) from their vacations, things are getting back to normal, and the old familiar routines will soon return.

But before that happens, let me challenge credit union leaders to stop and think about whether that is what they want.

It’s a difficult question and the inherent uncertainties of the future don’t make it any easier.  But chances are there is one thing your credit union cannot withstand in 2011–a return to the status quo thoughts and actions of the previous year.

Don’t get me wrong.  There are plenty of credit unions that did a lot of good things in 2010, and plenty more that set the stage for success in 2011.

But there are new challenges on the horizon.  The credit unions that will survive and thrive in the year(s) ahead will be those that take the time to think about how they will respond.  Note the key word there–respond.  Those who sit back and wait, then react will find their path more difficult to navigate and their choices more limited.

In contrast, those credit union leaders who commit to thinking strategically and being proactive every day will put their credit unions in a better position to succeed.  These leaders will choose to join the conversation and lead the industry in new directions–recognizing that (as Einstein said) we cannot solve the problems we face today by using the same thinking that we used to create them.

ACTION ADVICE: Before the New Year gets a chance to gather momentum and take your mind back to the day-to-day issues, block out some time with your team to discuss the opportunities that are available for your credit union and how you want to pursue them in 2011.  Decide what role you will play in the unfolding and somewhat controversial conversations about the future of the industry.  Make the commitment to lead your credit union in the direction that best serves your members today and in the future, then work every day to create the vision that you have defined.

Posted in Credit Union Strategy, Growing Your Credit Union, Leadership Development, Strategic Thinking | No Comments »

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 »

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