The Strategic Planning Lie That’s Keeping Banks Mediocre [VIDEO]
Roxanne Emmerich exposes the toxic lie behind most strategic plans—and the second-order thinking top banks use to pull away from the pack.
Several years ago, there was a gentleman who came into our boot camp, and he was an EVP of a bank on the West Coast.
He told me that they had hired a firm, spent several hundred thousand dollars, and been in meetings for five months to figure out how to find their next most profitable customers. I was thinking, “are you kidding me”? I said, “Well, how’s it working?” He said, “Well, we’re not done yet. We haven’t identified them.” So, what they should have done is identify them in a couple of hours by following a clean process of psychographics and demographics, and then got busy bringing them in. That is the point, isn’t it?
He came up to me, and he was just distraught. And yet, I get it. I’ve been a part of those organizations where you get it and you see what needs to be done, but nobody else does. But what do you do when you know everybody around you is going the wrong direction?
Here’s what happens when that person works for a bank that’s destined to become a top 5% performing bank, they become a puppy dog with a sock in their mouth, they don’t let go. They just keep asking questions like “Shouldn’t we have figured this out already”? “Shouldn’t we be calling them”? “What is our process for calling on them”? “Do we know we have the right thing”? “What’s our process for organizing this”?
Those who are Top Five Percenters™ don’t watch the crazy going on around them except it and say “that’s just how things are around here. It’s just me, how will I ever move this mountain?” Every great organization that’s become a Top Five Percenter has had somebody who grew a backbone and decided to be a stand for “if somebody can do it, we can do it, and we’re going to do it, so get the heck out of my way. I will just annoyingly keep asking questions until we get this right, because I will not accept working for a mediocre organization. “
When was the last time you ever called home and you said to your significant other “Honey, today, I performed average.” That doesn’t happen. We called home and we kick some back end and took some names and we made something happen. And that’s how our Top Five Percenter thinks. They are unstoppable in getting what they want when they know that there’s a better way of getting things done. And they are never going to sleep until they find the best way because success leaves clues. And as my mentor taught me years ago, only study with those who have their information in order and have done it repeatedly.
To your continued success,
Roxanne Emmerich
Please watch the video above and share it with your exec team and board.
Roxanne Emmerich exposes the toxic lie behind most strategic plans—and the second-order thinking top banks use to pull away from the pack.
Your boardroom may be your biggest blind spot. Discover how elite banks fix strategy at the Breakthrough Banking Blueprint™ Bootcamp.
Great employees don’t automatically produce great bank results. Discover why Top 5% performance requires employees who understand profitability, create deeper relationships, command premium pricing, and become trusted advisors customers never want to leave.
Elite banks aren’t born elite. They build systems, practice the right behaviors, and continually sharpen how they create value. Discover what helps top 5% banks reach exceptional performance—and stay there.
What separates America’s top-performing community banks from everyone else? Discover the systems, culture, and performance disciplines that help extraordinary banks protect profitability and independence.
Most banks lose the pricing conversation long before rates are discussed. Discover how elite community banks command premium pricing while protecting profitability and independence.
Most banks never intend to compete on price, yet rate matching quietly erodes profitability every day. Discover the strategy that allows top-performing community banks to command premium pricing and protect net interest margin.
The best community banks don’t win pricing wars—they avoid them. Discover how stronger positioning leads to higher net interest margin and greater profitability.
The highest-performing community banks don’t waste months searching for their ideal customers. Discover the proven process they use to identify profitable relationships quickly and execute with confidence.
Most banks believe their market determines pricing. Discover why that belief destroys profitability—and how elite community banks command premium pricing instead.