Five excuses for not growing
We make a lot of excuses at credit unions and banks, especially when it comes to a lack of growth. But excuses are crutches. It’s time we stop using crutches and start walking into growth.
As Jason Jennings, author of The Reinventors, says, “Instead of accepting personal responsibility and addressing the root cause—an unwillingness to embrace radical change—for their lack of growth, many business leaders spend their time finding excuses for their poor performance.”
What are excuses we use for our lack at growth? Here are five common ones that we need to throw aside:
- Our economy—Perhaps the biggest excuse I’ve heard for lack of growth in the past three to five years is the economy. Get over it already. The truth is every financial institution is dealing with the same economy. Some are growing and some are not. So if some banks and credit unions are growing then a lack of growth cannot be solely linked to the economy. Recessions can actually be a good time to grow. Use the current economy to your advantage rather than use it as a crutch.
- Our marketing—Marketing usually has a target on its back. Stop aiming arrows at your marketing department. Blaming marketing is just an excuse. If you are truly concerned your marketing is suffering, conduct a marketing audit rather than throw marketing under the bus. A marketing audit will give you unbiased feedback along with strategic and tactical recommendations on improving this key area.