Welcome to the Top 5 Percenter™ Blog

How to Guarantee Your Strategic Plan Will Fail, and What to do About It (Part 1)

by | Strategic Planning

I hear it time and time again

The overwhelming majority of bankers I talk to when I speak at banking conferences feel that their banks don’t get any real value out of their strategic planning process and the sad reality is—they’re right.

Because of this, strategic planning is often treated as a yearly burden that has to be endured every year.  Most bankers play along with absolutely no hope of ever seeing the plan correctly implemented and executed.

This doesn’t just happen in bad banks.  It happens to good banks with great employees.  This tells us that failed strategic plans are a result of a flawed planning process.

For the past 25 years, I’ve helped thousands of bank executives through their strategic planning process.  Over this period of time, I’ve identified 7 key mistakes that most banks make when it comes to creating a strategic plan.

In today’s video, you’ll discover three of the seven mistakes to avoid when creating your strategic plan this year.  Stayed tuned next week for part two of this video for the remaining four mistakes that most banks make.

Before tuning in for part two next week, take a minute now, to listen to the Strategic Planning Blueprint—a free audio toolkit for creating a plan you’ll execute, where everyone in the bank knows how they contribute to the bigger goals (profit) and each is accountable for their part.

After listening to this 30-minute audio, you will discover:

  • Three ways the regulators will dissect your plan, plus, how to know now if your plan will measure up
  • Why almost every bank misses the mark with their mission and vision statements.
  • How to “diagnose” your current plan and what to do to fix it, to ensure completion of all plan elements next year.
  •  What to do when your progress stalls. (Note: This little secret could be what saves your year next year.)
  • A “blueprint” for an effective strategic plan.

More From The Blog

You Deserve More and Better [VIDEO]

Are you tired of accepting or being bound by limiting beliefs?     Today, we're going to blow up the biggest limiting belief in banking. It's so bad that it keeps you...

Master the Four Levels of USPs [VIDEO]

What if you can use extreme differentiation to get 150 basis points or more on the loan side and improve your deposit pricing at the same time?   If you're the kind of...

Stop Matching the Competition [VIDEO]

You deserve to get paid more. Rate matching is the most destructive force in community banking today. And because of it, as a community bank, you are underpaid for the...

How to tie everyone to PROFIT [VIDEO]

Does every team member on your team know how they tie to profit? I mean really know? When a study published in Businessweek revealed they had asked 6,000 employees, "Do...

Who Made Up THAT Rule? [VIDEO]

Everyone has patterns of disbelief. Some people believe that in politics, there is one side or the other, and they're unwilling to look at the alternative. Still others...