Time for a Radical Obligectomy?




Something’s gotta give. New research shows that employees are exhausted to the core. The stresses of the workplace are so far beyond the good ol’ days. Remember when we used to take lunches together every day off site? Me neither. Well, it’s been a long time, anyway.
 
And trends have a way of, well…trending. The load isn’t likely to lighten anytime soon.
 
As a leader, how do you help keep your people sane and continue performance breakthroughs?
 
Start by getting rid of the pointless obligations that cost time and effort without producing results. I call this a radical obligectomy, and it’s a do-it-yourself operation. Start by making not a “to-do” list, but a “get rid of” list.  Better yet, get your people thinking of their own “get rid of” lists.
 
Giving your people permission to slash and burn anything that isn’t getting new customers or making the experience great for a customer helps to keep them focused externally. In a world where organizations constantly shift back to the internal minutiae of spreadsheets, unnecessary reports, unnecessary meetings, and frivolous projects that don’t fit the strategies, or 27 […]

5 Biggest Myths that Hold You Back from Seizing Today’s Opportunities



It’s party time…that time you’ve been waiting for to pick off the top loan customers’ key deposits from the weak banks around you. You don’t need to buy them IF you know how to pull in all their business with ease. To do that, you must shatter the myths that will keep you in a state of inertia:

1)    “Our people know how to sell.” In fact, they are excellent rate quoters. Most don’t even know how to break preoccupation with rate. Don’t believe it? Call your own bank. There’s nothing like irrefutable evidence.
It’s like putting up a sign saying, “We’re not very good at what we do, so if it’s all right with you, we’d like to only do business with you if we charge less than our least competent competitor.”

How could that possibly be happening, when we know so much about why people buy and how to sell value over rate?

2)    “Our culture is ‘good enough.” More likely, it’s not even close. Your people care…but not enough. No fire in the belly. If you’re like most, your profits are being slaughtered […]

The Counter-Intuitive Secret to Attracting Better Customers



Fortune cookies and horoscopes are miracles of marketing. They predict something that happens to almost everyone every day (“You will meet someone new”) and somehow make you feel like it was written just for you.

Well, sometimes. That worked a lot better when I was ten. Nowadays I’m not likely to be impressed unless every Sagittarius on Earth is run over by a guy named Keith on the same Tuesday afternoon.

On the personal level, I’d like to see a fortune cookie that starts off, “Hey Roxanne! Gorgeous jacket.” I’d look down (“How did it know?!”) and then keep reading. How could I not?

Modern marketing works the same way. Gone are the days when vague “fortune cookie” messages pitched to the common denominator have any real chance of success. Yet most financial institutions are still using the global marketing, getting a predictably low ROI, then doing it again. And again.
If you insist on spending your resources marketing to everybody, go ahead—but know that 80 percent of them will TAKE money from your bottom line instead of adding to it.

You’ll get a far better return […]

Why Should They Choose YOUR Bank?



Why would you buy a Volvo? Safety. Why would you drive a Mercedes? The prestige. Why would you buy a BMW? The driving experience. Last question. Why would you drive a Pinto? Price.

Now for the reality. Volvo is not the safest car. For many years, Saab actually had a better safety record. Mercedes is only considered a prestige car in the United States. In other countries, is a taxi. It has been marketed here differently. And the BMW, well, I’ve driven one of those—it IS the ultimate driving experience.

In the first three examples, people are driven by the brand. They come looking for that brand and even though Volvo does not necessarily always have the safest cars, it doesn’t matter. The consumer believes the Volvo is safest. Volvo is the position that is taken in the consumer’s mind when they think of safety. If they know they want Volvo, they’ll pay two to three times what they would pay for a Yugo for that unique selling position.

After asking thousands of bankers what their unique selling position or brand would be, I’ve only heard one answer—customer […]

How to Eradicate Low Performance



How do you get people to do what they’re supposed to do—not sometimes, not sorta, but consistently and for real?

This month I met an executive who said something that shocked me. He said that only 40 percent of their people are meeting their goals. FORTY percent!!! Yikes.

Imagine what it does to the bottom line to let 60 percent of people off the hook from doing what they are expected to do.

Those who ARE getting it and delivering the goods are naturally ticked. They’re having to hold down the fort in a massive way to keep the doors open to take care of the jobs for all those who are clocking time but not meeting objectives.

No wonder 91 percent of employees have thought about changing jobs and 65 percent have actively looked in the last year! They’re tired of management not holding people accountable.

I KNOW you want your people to be accountable, but most managers and executives just plain have no idea how to proceed.

Here’s why it goes wrong…

First, there is […]