Eliminate the non essentials
“The wisdom of life consists in the elimination of non-essentials.” – Lin Yutang
The above quote starts chapter one in Greg McKeowan’s book Essentialism. While the book deals more with how you handle your multiple responsibilities, there are plenty of business applications as well. Especially for banks and credit unions.
The way of the essentialist is “less but better.” McKeowan asks a searing question: “are you investing in the right things?” Think about that for a minute: is your financial institution investing in the right things? My guess is there are several non-essential initiatives you need to eliminate.
There are multiple areas to consider applying the essentialism principle to your credit union or bank:
- Marketing—Your bank or credit union is probably marketing A TON of products. But are they the RIGHT services? It’s the same with community involvement. There are probably multiple events with which you are associated. But are they the right ones? Your marketing will be far more effective if you cut the clutter and focus your message.