Now more than ever we are ready to shed our weathered old coat and prepare for our Spring renewal. No, we aren’t talking about the weather, but about Financial Services in 21st century, 2014 to be precise.
Whether it’s Spring Break, Spring Cleaning or Spring Training, we could all use a refresher on this year’s “Do’s” and Don’ts” in the new and improved 21st century financial arena.
Are we moving in the right direction (forward)?
Are we cleaning up status quo standards?
Are we ready to hit a home run in the coming months?
Is your answer “yes” to one or all of the questions? Great. Let’s prepare for a good purge (the don’ts) and invest in the right splurge (the just do’s).
Marketing Don’ts: Commoditize Marketing Do’s: Simplify
Avg 3.2 products or more Spend relationship solutions
Mad Mortgage maximums Lend relationship solutions
Fast fee followers and fine print Save relationship solutions
Promote Wealthy behaviors Encourage Wellness habits
Cultural Don’ts: Cultural Do’s:
Consensus & Silent Majority Collaboration- Courageous Conflict
Hierarchy - Linear Thinking Heterarchy - Matrix Management
Telling & Teaching - One~way Listening & Learning - Two~way
Financial Don’ts Financial Do’s
Balance Sheet, Black & White surface Focus on Income Statement, Trends
clean view only Cash Flows
Short term gain with Long term Pain Short term pain for Long term gain
Operational Efficiency ~ Costs only Operational Effectiveness ~Rev Gen
Scale/Partner for quantity Scale/Partner for quality & expertise
Operational Don’ts Operational Do’s
Work Silos and Disparate Systems Workflow and System Integration
Profit over Purposeful Matters Performance and Purpose Matters
Tech w/o Training your Talent Talent, Tech and Market Timing
Too much on the list to handle?
Consider starting with Enterprise Risk Management, Leadership and a Project Management Plan. Assess, Prioritize and Treat with a Team approach. Monitor and remodel for measurable improvement.
Spring Cleaning, Spring Break or Spring Training ~ They happen every year. Our members, our communities and our team deserve the best we have to provide. Are you ready to go (and grow)?
