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“Strategery” v. Real Strategy… [VIDEO]

by | Culture, Profitability and Growth, Strategic Planning

If strategic plans actually exist to create predictable growth, profit, and bank culture, why is it that most of them do the opposite?

Why is it that in most banks in America, the strategic plans don’t get implemented?

Why do I hear from hundreds of bank CEOs every year that they create a strategic plan, but don’t execute on it?

They don’t hit their projected numbers, and they don’t create lasting change. Instead, they keep bringing back the same recycled strategies, such as one change to a sales culture, but they never follow through with them.

That’s like overdribbling in basketball.  If that eventually becomes the overall strategy—good dribbling but never shooting the ball, eventually the team and team owner will want to know why the score is still zero.

If you have that same problem, it’s not your fault.

When I was doing graduate work in strategic planning, one of the things I said to the professor was “I’ve been doing strategic planning for businesses for years using the system they teach you in the textbook, but have you noticed that those strategies don’t work”?

Of course”, the professor said. “Actually, I’ve never really applied the lessons. I just teach.

The new rules for creating a strategic plan are not what’s being taught in banking right now, but need to be.

We have to get on top of growth, profitability, and bank culture. That’s harder than it looks, but not impossible if you build the right strategic planning system.

Most banks get two things wrong when constructing their strategic plan:

1)   They don’t effectively know how to create the strategies, and their strategic plan is a hodgepodge of items that are unrelated.

In most cases, there’s not even a strategy in the strategic plan. That’s a problem. Because without a true strategy, you do not move needles.

2) The other problem is how the strategic plan is implemented.

New software and companies can help execute the plan, yet most of them really don’t get the job done with this assistance because the strategic plan is ineffective.

It’s time to learn what kind of strategic planning works today because repeating what you have done in the past is not the solution.

I have a complimentary masterclass, Elite Strategic Planning Fundamentals, coming up on September 2nd, where I’m going to show you what has taken many banks from fourth quartile to top-quartile performers within 1 to 3 years. If they can do it, you can too, but not the same old way you’ve been doing strategic planning.

Let me show you how to do it in just the right way.

Hope to see you there.

– Roxanne Emmerich

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