Don’t look now, but strategic planning season is right around the corner, and what do you do in a time with all of this unrest? Just when you’ve had a great PPP season and a record-setting season for mortgages, we know (more…)
I am a nerd. I’ve always been a nerd. When I was a little kid, I used to go to the library every other day and I would drag books all the way up to my chin back onto the bus and back off of the bus, then back to the library. I’d fill up with books about twice a week. I’ve always had a passion for learning and discovering and finding out what other people know rather than having to discover everything myself. I have some favorite books. One of them, I think is really important during strategic planning season (more…)
When I first left day-to-day banking to start this business, my first client was voted every single year as the top franchise in the country. Although I did their management development curriculum and educated their people about how to run that business, one of the things that I’m sure is true is that I learned more from (more…)
Finally, my new book is out—The Breakthrough Banking Blueprint.
It occurred to me years ago when I had the great honor of working with the top franchise company in this country, which was awarded top franchise year in and year while I worked with them, doing their leadership development training, that in banking, we didn’t know anything about franchise thinking or development. What if we could bring that kind of thinking to create a predictable success machine within the community banking industry? (more…)
Profitable loan growth is the name of the game, but it’s not just profitable—it’s having profit, safety, and growth all done together. When I wrote my very first book, Profit-Growth Banking, I talked about how I’m impressed by banks that have a great ROA and by banks that have great growth, but not nearly as impressed as I am by banks who sustainably accomplished both very systematically. That’s the game as an executive that you must (more…)
If you’re feeling trapped in rate competition, you’re in “Commodity Hell”… and it’s not a fun place.
When your customers and prospects view you as no different than the bank down the street, you create a situation where retaining customers and attracting new ones is beyond difficult.
The first reaction is to blame the customers. You’ve heard it at banking conventions before. Someone will complain, “Customers don’t care about relationships anymore. It’s all about rates and fees.”
That’s backward thinking.
Yes, it is all about rates and fees if you don’t give the customer any other good reason to use in making their decision.
Most banks have three solutions they implement in the hope of having a breakthrough to increasing revenue that generates high profits:
Research shows that just a few lenders, usually about 6% that have a business development profile, carry the rest. Moreover, even that happens only if that 6 % know how to implement the right sales process. Otherwise, those naturally gifted lenders sell only by matching rates,