Make Your Institution’s Resolutions More Than Words on Paper

Mark Arnold
Make Your Institution’s Resolutions More Than Words on Paper

2023 is right around the corner, and you know what that means – it’s time to make your resolutions. And resolutions are great…even if they’re easy to set aside by February (insert joke about going to the gym here).

But your credit union or community bank’s resolutions are so much more than a joke.

The initiatives you decided to pursue in your strategic planning session are essential to your success in 2023 and beyond. It’s simply not an option to set them aside.

Rise Above the Rest

Sticking to your strategic goals will put you head and shoulders above your competition. Why?

Because 90% of organizations don’t successfully achieve their goals. That’s right – 90% don’t successfully achieve their goals. That means dutifully crossing initiatives off your list is giving you a major advantage over threats in a competitive market.

And how do you achieve those goals?

Let’s look at a second statistic for the answer: 85% of organizational leaders spend less than an hour on strategy each month. Folks, that’s simply not enough time when it comes to securing your credit union or community bank’s future. Strategy is important enough to spend time daily thinking about it.

Maybe an hour a day isn’t realistic, but how about 20 minutes? Even 10 minutes a day will put you above 85% of leaders. You’ll find that when you put a little bit into strategy, you get a lot in return.

Have a Solid Support System

Any serious resolution requires the support of loved ones or some type of accountability system. In your institution’s case, you need your whole staff’s support. Why?

Because like it or not, they’re all a part of your plan’s execution. Think about a core conversion, for example. You make the major decisions at the top, but your tellers and service representatives must explain the situation to consumers. Additionally, your back-office staff need to effectively deal with any glitches affecting their work.

If your team isn’t united under one purpose, your project may not go according to plan. It’s a bit like a Jenga tower. At a certain point, every piece is crucial.

So, clearly explain the institution’s goals to everyone. Give everyone a role and a voice. Add in a great support system, and you’ll keep your tower from toppling.

Schedule Next Year’s Strategic Planning Now

As the saying goes, “the early bird gets the worm.”

Planning a dedicated strategy session today keeps strategy on your mind throughout the year. You know the next strategic planning session is coming, so you’re more mindful of reaching your goals prior to that meeting.

It also keeps your organization on track for the following year. After a while, reaching your goals and attending the next strategic planning session becomes a rhythm you can’t escape (and one you don’t want to escape, either).

So, resolve to make your credit union or community bank’s strategy a priority today. Schedule a strategic planning session with On The Mark Strategies and leap ahead of the competition.

Mark Arnold
Founder and CEO