I believe every business has a breakthrough opportunity, a missed profit opportunity, in fact, in several of their product lines.
In this blog, I’m going to share with you how any one of your product lines could be the source of thousands of dollars of additional profits within a few short weeks. You’ll need to change your strategic planning process radically to make it happen.
If you’re the kind of person who:
Knows your team can sometimes keep repeating what they’ve been doing instead of taking the time to implement breakthrough ideas for a breakthrough increase in profit…
Is a bit weary of all the regulations and busy work and know that both you and your people haven’t taken the time to question the way that you offer your products…
Would like the infusion of energy and cash that comes with a rapid increase in the sale of a product line that when revamped using a new strategy that’s now low hanging fruit,
Someone becomes a millionaire and then loses it all…
BUT they manage miraculously to gain back their millions in almost no time.
How in the world are they able to do this? Are they just luckier than others?
No—they simply realize that they are in control of their results. For great leaders, external factors are an afterthought. They know that they can accomplish greatness regardless of their circumstances.
Community Banks are no different. The banks that are achieving lofty cross-sales numbers and getting A+ quality credits at premium pricing believe they are worth more,
A prospect just walked into your bank, and you have 60 seconds to woo him, GO….
Your heart probably just skipped a beat, and your head began racing through a plethora of old sales approaches you’ve used in the past.
The reality is…this small window of opportunity is all you get in today’s fast-paced environment.
If you think today’s small business owners are going stop and listen to the same questions like “What kind of things are keeping you up at night?”, then you’ll soon be the one tossing and turning at night as you continue losing customers.
It happens every day, all day in almost every bank. The phone rings. A well-meaning staff person answers politely. The inquirer asks, “What are your mortgage rates?” to which the well-meaning staff person begins to list the rates, thanks the caller for calling, and sends the shopper on to the next bank or mortgage company to get their mortgage. They make no attempt to help! Our research shows this happens over 95 percent of the time. Don’t believe it—call your own bank and see for yourself.
One: The inquirer wasn’t helped because they didn’t receive any guidance and they’re left to shop with a high risk of not choosing the best mortgage option for their needs.
One of my favorite movie lines of all time is from The Greatest Game Ever Played, a golf drama based on the true story of the 1913 US Open. Twenty-year-old Francis Ouimet was challenging his idol, Englishman Harry Vardon, who had won the Open in 1900. When Harry’s wealthy sponsor said Francis could not possibly win because he was not from the upper class and therefore would fold under pressure, Harry responded, “If Mr. Ouimet wins tomorrow, it’s because he’s the best– because of who he is.
Are you as good as you think you are? Whether the economy gets better or not is out of your control. But YOU getting better—that’s entirely in your control, and it’s non-negotiable.
As a leader, YOU set the standards. And this year, those standards had better be high and focused on the right things.
Organizations thrive because the leaders within those organizations thrive. After 25 years of working with many of the top-performing financial institutions in the country to take them to a higher level, it is clear that the quality of leadership is the key performance indicator—regardless of what the economy dishes up.
You’ve heard it before – the bankers who are STILL calling on clients asking hideously inept questions such as, “What kind of things are you looking for in a bank?” or “Tell me about your business,” or “What kind of things are keeping you up at night?” UGH.
These slick and inept approaches from the 1980s sales training programs were somewhat effective back then, but they really don’t stack up in this competitive market—and they certainly don’t get the attention of small businesses who are running fast and running hard and really don’t have time to chit chat.
Chief Executive Officer, Roxanne Emmerich, is the New York Times, #1 Amazon, Businessweek and International Bestselling author of Thank God It’s Monday®! She and her team of experts specialize in transforming the performance of community banks…taking banks to a level of performance they never dreamed possible.