The Bank and Credit Union Strategic Planning Gift Box
Go over key bank and credit union strategic planning components, such as trend reviews, vision-setting and focused initiatives.
Read MoreIt’s nearly July, which means the summer movie season is about to explode!
One of the many big blockbuster flicks releasing next month is “Mission Impossible: Dead Reckoning.” This movie kicks off the first piece of a two-part finale for the series. And chances are, you know the series’ most famous line: “your mission…should you choose to accept it.”
Of course, you aren't jumping in a plane to stop an unknown villain across the globe. But that doesn’t mean you aren’t saving the world in your own way.
Your community bank or credit union vision describes your long-term plan to make a difference in your consumers’ lives.
So, what does a great vision look like?
Your vision describes where you’re going and who you want to be. It’s all about the future of your credit union or community bank rather than what you aspire to do right now. Visions are usually grand or somewhat fantastical.
For example, LinkedIn’s vision is “Create economic opportunity for every member of the global workforce.” Notice that this is an idealistic future goal. It might even seem impossible.
But that’s the thing about your community bank or credit union vision. It's much more possible than you realize once you start orienting your monthly, quarterly and yearly goals around it.
As Gino Wickman says, “It’s clearly defining who and what your organization is, where it’s going and how it’s going to get there.”
Don’t forget the “how it’s going to get there” part. A horizon is pretty on its own, but you need to head towards it if you actually want to get anywhere.
Resist the temptation to write a long, grandiose vision statement. You want to do a lot…but that doesn’t mean you shove every detail into the vision.
In fact, others are more likely to accept and understand your community bank or credit union vision if you prioritize clarity and brevity. In the words of Donald Miller, “If you confuse, you lose.”
It’s true: staff should be able to repeat your vision from the tops of their heads. But with the length and complexity of some vision statements, is it any surprise they can’t? Make a vision that’s easy for your employees to “see.”
Agent Ethan Hunt from “Mission Impossible” has a different mission in each movie. But your vision should be longer lasting.
If a vision gives a grander purpose to your daily work, it can’t frequently change. It must remain a steady North Star directing everyone’s work. An ever-shifting vision means you won’t create something with buy-in. In other words, your vision becomes another piece of hackneyed corporate mumbo-jumbo.
Craft something forged for longevity…a goal that resonates today, next Thursday and one year from now. And buy into it. Even the greatest community bank or credit union vision won’t survive if no one cares about it.
Now, your mission…should you choose to accept it, is to book a free consultation to discuss creating a vision and values that matter. It sounds touchy-feely, but it makes a long-term difference to your bottom line.