As you age, you tend to think more about your eyesight and vision. It’s only natural that the older we get the quality of how we see tends to diminish. Whether you are already wearing corrective lenses or “readers” it’s only a matter of time before your lenses get cloudy. In other words, it’s hard to maintain 20/20 vision your entire life.
Maintaining a clear 20/20 vision for your credit union or bank is no different. Over time it's extremely easy for your strategic vision to also get a little cloudy. Things happen: internal staffing challenges arise, external competitors pop up and unexpected roadblocks all cause us to take our eyes off our vision.
But as we enter the new year, now is a perfect time to reflect on how to maintain a clear 20/20 strategic vision.
Here are three tips for making sure your 2020 vision is 20/20:
1. Shorten Your 2020 Vision
How many initiatives are you trying to accomplish in 2020? If your vision is like the menu at the Cheesecake Factory, good luck with that. The most successful organizations focus. As we tell our clients frequently, strategy is not just about what you’re going to do: it’s also about what you’re NOT going to do. A tighter vision is a stronger 20/20 vision.
2. Make Your 2020 Vision Actionable
Active tense trumps passive tense every time. That means your vision is not about wanting to “be” something but rather about “doing” something. In other words, don’t focus on the size you want to become but focus on what you want to do for consumers. For example, rather than having a vision of becoming a billion dollars in assets have one that focuses on changing lives by offering amazing financial products. An actionable vision is a stronger 20/20 vision.
3. Communicate Your 2020 Vision Consistently
To keep your vision moving forward you must repeat it. Monthly, weekly and yes, even daily. As Donald Miller says, “your vision has to be repeated over and over again.” You must regularly and consistently remind all of your employees where your credit union or bank is heading and why. Every time you meet, start with the vision. Give employees a card or note with the vision they can put on their desks. E-mail and ask them how they are living the vision. A consistently communicated vision is a stronger 20/20 vision.
Everything in your financial institution begins with your vision (your overall vision and your yearly vision). And some of the best ways make your vision stronger is to shorten it, make it actionable and communicate it consistently.