Strategic planning: Under-plan and over-execute

first_img 20SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Banks and credit unions invest (or at least they should invest) a great deal of resources into strategic planning. Going to a special venue. Feeding participants. Taking key executives away from their daily duties. Even hiring a facilitator.While that is all well and good an insight from a recent book I’m reading hit me between the eyes. In The Revenue Growth Habit, author Alex Goldfayn said, “you know that the key to growing your business is to underplan and overexecute.”This may sound crazy coming from someone who facilitates strategic planning sessions for multiple clients, but Goldfayn is absolutely correct. You should focus far more on executing than planning. Let’s break that quote into two core principles.Under planThe quote doesn’t mean that planning is not important or doesn’t lead to success. However, there is a key principle with strategic planning:Keep it simple.Financial institutions fall into the trap of putting way too much into their strategic plan. Surveys, financial data, action steps, strategic initiatives, SWOT exercises and timelines fill up giant binders. You get the idea: we feel like the longer our strategic plan is the better it must be. continue reading »last_img read more

The Latest: Miami’s Abedayo wins All-Star skills challenge

first_img Associated Press The NBA has renamed its All-Star Game MVP award in honor of Kobe Bryant.Commissioner Adam Silver announced the move on Saturday. Bryant and his 13-year-old daughter Gianna were among nine people killed when their helicopter crashed into the side of a mountain near Los Angeles on Jan. 26.Bryant became the youngest player to ever play in an All-Star Game when he made his debut in 1998 at age 19. He made the All-Star team 18 times during his stellar career with the Los Angeles Lakers, winning the MVP award a record-tying four times.Silver says Bryant “is synonymous with NBA All-Star and embodies the spirit of this global celebration of our game.”___ 4:00 p.m.Toronto Raptors and All-Star coach Nick Nurse was in Las Vegas last summer when he got the news that Kawhi Leonard was leaving the defending champions after just one season to join the Los Angeles Clippers.Soon after, Nurse headed down to the hotel lobby and ran into two of his players, Pascal Siakam and Fred Van Vleet.“I thought the guys might need some cheering up, so I said, ‘Hey, look at it this way: Kawhi leaving means we just freed up something like 20 shots per game,” Nurse said.It was 18.8 per game to be precise, but who’s counting? Well, plenty of Leonard’s former teammates, apparently. The Latest: Miami’s Abedayo wins All-Star skills challenge Abedayo narrowly defeated Indiana’s Domantas Sabonis in the final in a matchup of All-Star big men. He shared a hug with former Heat star Dwyane Wade after accepting the trophy.Abedayo eliminated 2018 champion Spencer Dinwiddie and Raptors star Pascal Siakam in the first two rounds on the obstacle course. Sabonis advanced with victories over defending champion Jayson Tatum and Milwaukee’s Khris Middleton.The 22-year-old Abedayo is in the middle of a breakout season, averaging 15.8 points, 10.4 rebounds and 4.9 assists in 54 games for the Heat.___6:43 p.m. “Siakam immediately starts doing this,” Nurse laughed, swinging his right arm in widening circles, like a baseball pitcher loosening up before entering a game. “And Van Vleet just breaks into a crazy grin.”Small wonder. Those two became the biggest beneficiaries of Leonard’s departure. Siakam is averaging 7.3 more shots and 6.6 more points per game at the break; Van Vleet, 5.3 and 7, respectively. The remainder of Leonard’s shots were scooped up by Kyle Lowry and OG Anunoby.___3:55 p.m.Portland Trail Blazers star Damian Lillard is grateful for the All-Star break. Share This StoryFacebookTwitteremailPrintLinkedinRedditCHICAGO (AP) — The Latest on Saturday night at NBA All-Star weekend. (all times local):7:38 p.m.Miami’s Bam Abedayo has won the All-Star skills challenge. February 15, 2020 He had to pull out of the All-Star Game and Saturday night’s 3-point competition after he strained his groin during Wednesday night’s 111-104 loss to Memphis. He was replaced by Phoenix Suns guard Devin Booker.Lillard is averaging 29.5 points and 7.9 assists. “Tough injury,” he said during Saturday’s All-Star media session. “Came at a tough time. Fortunate for me, that game was on the 12th, we don’t play again until the 21st. So that’s at least nine days of being able to see where I am, get some treatment, do some rehab and go from there.”___More AP NBA: https://apnews.com/NBA and https://twitter.com/AP_Sportslast_img read more