Five problems to solve now or pay for later

by Mark Arnold, On The Mark Strategies

It’s always easier to kick the can down the road…or at least it feels easier. It feels like less work. It feels less expensive.

But no matter how it feels, avoiding pressing issues now will harm your community bank or credit union growth later. Not to mention that solving problems later is harder, more work and more expensive than if you addressed them now.

Here are the five key problems you must solve now or pay for later:

‍1. A Cookie-Cutter Brand – In an industry where you compete on similar products, creating a distinctive brand is key. Focus on a niche, adopt a name and logo appealing to that niche and encourage employee buy-in to the brand. This process is an investment, but it’s much cheaper than the loss of potential loans and members related to a cookie-cutter brand.

 

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