Planning, patience, and perseverance
What does it take to implement a successful strategy? That’s a million- dollar question, and if a consultant had a failproof method for guarantee of strategic success, they would have no shortage of high-paying clients. While there are some proven formulas and models, success has an element of unpredictability. Some of the factors that create a successful outcome rise organically. At times, a successful outcome is based on the right combination of factors – good timing, a cohesive team, and a responsive market. There are projects and products that may launch well at one credit union, but not work so well in another in a different part of the country. We wish we had total control of outcomes, but models are simply models at the end of the day.
There are several factors that are required for positive results – whether it be a technology upgrade, a personal goal, or product launch. These three are simple in concept, but can be more challenging to implement.
Planning is the first element every organization undergoes when shifting a new direction or reaching for a higher goal. Reviewing resources, developing contingency plans, understanding capital constraints, evaluating various scenarios, and financial modeling are all part of the process. Each of the items can be lined up on paper and easily be analyzed one-dimensionally. But life is multi-dimensional and all kinds of events happen that create disruption to the plan. Plans should be made carefully, but held loosely. Underneath all plans should be the element of what the organization is really trying to achieve. Your credit union wants more loan growth. Ask the ‘why’ questions. Why is this important? Is it to be the biggest credit union in your state? Is it because the organization needs to grow income? Understanding the deep why’s help keep goals on track when life derails the process of implementation. It makes it easier to pivot and adjust when a change is required.
Patience must be the second step in a successful outcome. We live in a fast paced, connected society that thrives on big goals and success stories. No sustainable success happens overnight, however. We hear stories of successful business owners and companies that seem to have everything on track. There is always a deeper story, and that story usually involves a commitment to the end goal no matter the amount of time it takes. If a project is worth implementing, don’t abandon your plans because things didn’t fall into place this fiscal year. If it is important enough, there will be a way to do it.
All of this leads to perseverance. Endurance, resilience and perseverance are often discussed as part of the success equation. There will be challenges and setbacks, and pushing through with sheer determination can eventually lead to success. Success requires work, even on the days where things are going smoothly. In all the perseverance and endurance though, it is important to check back on the original plans and make sure that your organization is still preserving on the right goal. The possibility does exist to be so committed to one’s own plans that it can be hard to see when it is time to let go or do something new. Perseverance plus reflection leads to strong outcomes, and this comes from cultivating an environment where it is ok to be willing to both work through the challenge of change but accepting those moments to let go of a project or goal. Ultimately, with these three factors success over the long term is very achievable.
