How bad bank or credit union strategic planning is killing you

Strategic planning isn’t just a day on the calendar. It’s not something to take lightly or something to do halfheartedly, either. Why?

Because good bank or credit union strategic planning is like a shot of adrenaline to the heart. And bad planning…well…that’s like dripping poison into your veins. You may not notice the immediate effects, but it’ll kill your institution over time.

Let’s go over the three main ways bad planning is killing your credit union or community bank and what you need to do about it.

#1: Death by a thousand to-dos

A major element missing from many strategic plans is focus. Some bank or credit union strategic planning sessions turn into glorified to-do list exercises. Rather than leaving with focused goals, you create 10 things a few people are passionate about.

 

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