Our programs, services, and 5-step iterative process will lead your bank to higher growth and a better bottom line.
Too often, the annual meeting is the only time banks look at their mission, vision, and core values. What if they played an active role in business every day, and helped improve the bottom line? Strategically defining these core pieces can help you discover your unique strengths, and start using them to compete.
You have a sense for your bank's strengths and vulnerabilities, but how specifically do they affect your performance? Define them and analyze their effect. Powerful market analytics can uncover opportunities you might not have realized, and help you position your bank to perform.
You know what works. What’s exciting now is that you have hard data to formulate a strategy, assess your appetite for risk, and set objectives. A sound strategy will not only make you a stronger bank. It will leave competitors wondering how you did it.
With your strategy in place, you’re ready to put it into motion. In this stage, you’ll create a playbook that sets the pace for closing the gap between your bank’s current position and its strategic goals.
The plans are in place, the strategy is set, and you are executing your playbook. But you’re not done yet. Now, actively track results against your targets – and against your peers. If adjustments are needed, you’ll be able to pivot as you go and keep your plan on course. You’re getting things done, seeing results, and the data shows that your bank is moving toward your goals.
Why does strategic planning matter? Jim Fugitte, Director of Strategic Advisory Services, explains that banks with a strategy outperform their peers – when they execute the plan.
The October 2017 issue of ICBA Independent Banker features Dave Wicklund and his views on selecting a service provider for outsourcing your IRR analysis. You can find the article on page 57.
Our budgeting process gives us an idea of where we think we are headed in the next year. Many times, what we think will happen, is not what happens in reality. After all, if we all had a crystal ball at our disposal, you would not be reading this blog right now (I know I would not be writing it!).