If you're like most bankers, you occassionally consider how you might implement inhouse strategic planning. Then, once you reflect on all of the steps, tasks and tools involved, it's an easy step to jump to something else instead.
Something less complicated...like brain surgery.
But I have a secret to share with you. Making a subject seem complex, or emphasizing how much effort, knowledge or technique is involved in something is a well known tactic to minimize the D-I-Y movement.
And just like those handy fix-it projects that the local big box hardware stores teach each weekend, I can help you see how easy (and how much less costly) it can be for you to tackle this job yourself. After all, who knows your bank better than you do?
Just like those "to do list" projects, I can show you a simple roadmap to keeping your bank strategic plan on track. We'll really start the exact same way...with a plan.
The infographic on the right side of this article shows my basic bank strategic plan, and is an extract from my high level strategic planning program. I have developed and use the EPIC Strategic Plan for all of my bank strategic plans.
EPIC focuses on the 4 core tasks of any bank strategic plan.
- Evaluate: The best place to start a plan is with an evaluation of where the bank is now, and how it got there. We'll examne your bank's advantages and weaknesses, and how we can turn them to your benefit.
- Plan: Here's where we get down to the basics of your bank's strategic plan, starting with Mission, Vision, and Values. And like any building ptoject, you'll want a firm foundation before moving on.
- Implement: This is the nuts and bolts part of your plan. Here we'll translate the 30,000 ft level ideals of your plan into SMART goals and action steps. Because a plan that sits on the shelf gathering dust is not really a plan at all.
- Correct: We'll celebrate our wins, adjust for our missteps, and refine our plan as needed. Because you want a plan that's alive, not a static point in time balance sheet approach.
Then after we've reviewed, selected and maybe tweaked a plan, we'll talk about the tools.
Strategic planning has it's own set of tools and techniques that will let you plan like an expert usually much sooner than you think possible. Just like a table saw and drillpress can help with those woodworking projects, your strategic planning toolbox can help you turn out a serviceable plan in short order too.
So, if you're a banker, and you'd like a high-resolution, full size copy of my EPIC Bank Strategic Plan infographic, just click here and I'll send it right over to you, along with some other helpful materials.
And then you can get started on your own bank strategic plan.