The writer Ann Handley recently published an article about the virtues of slowing down. That’s right. Not moving faster. Not chasing progress. Slowing down. Considering your decisions because those decisions have a lot of weight (especially if you’re a smaller organization). And your financial services strategy deserves extensive consideration…despite the fast-paced surrounding environment.
There’s a lot of chaos out there. Daily crises. External stresses. Economic shocks. But sprinting through the dumpster fire won’t make it burn any less. What will?
Stopping and thinking. Specifically about three areas of your financial services strategy.
Think About General Strategy
This is hard (even for us, who constantly preach about it). The tyranny of the moment dominates the mind. When an urgent need is in front of you now, it feels like the future can be put off.
But the future will arrive someday. Eventually, the future will be now. Don’t let it catch you unaware. Start thinking ahead with these questions:
- What issues might make us irrelevant ten or twenty years from now? AI? Crypto?
- What steps can we take in the next three years to survive the next thirty years?
- How can we establish a regular strategic planning rhythm?
Answering these questions is about establishing focus. And if you have focus, you have direction. As Tony Robbins says, “where focus goes, energy flows.”
Think About Branding
Branding is not a static process. It’s dynamic and constant. Some brands morph into unrecognizable forms following their creations. Others stay the same while markets change, leaving the brands behind.
Your brand has equity. It’s arguably your most valuable asset because without it, you have nothing else. It’s who you are. Think about your brand’s current value with these questions:
- What market does our brand speak to? This one? Or the one from a 2003 rebrand?
- How does brand creative stack up against competitors? Are we different enough?
- Do staff live the brand each day? Why or why not?
A survey of global executives showed that brand reputation accounted for 63% of a company’s market value. Your answers to these questions aren’t “fluffy.” They impact the bottom line.
Think About People
You have nothing without people. Without people, your organization is just an empty shell.
The right people in the right seats on the bus revolutionize your organization. The wrong people (even those in the best possible seats) sink you fast. Think about your organization’s people with these questions:
- Which employees are brand champions? Which could care less about our values?
- What new development opportunities can we offer to grow and retain superstars?
- How can I grow professionally? How can I become the best leader possible?
Savannah Bananas CEO Jesse Cole has said, “I don’t like the word training. I believe dogs are trained. Humans should be coached, mentored and educated.” Develop your workforce of the future. Coach, mentor and educate yourself and your team.
And get some help while doing it. If (after thinking) you decide you need some training help, On The Mark Strategies facilitates leadership and service training to ensure your financial services strategy isn’t dead on arrival. Book a free consultation now.
