The CUES Podcast Episode 55 show notes
Bryn Conway, principal at BC Consulting, has a favorite quote from baseball great Yogi Berra: "If you don't know where you are going, you might wind up someplace else."
Credit unions would do well to remember that quote during their strategic planning sessions.
“Direction is key, and clearly understanding where you want to go will help you define how to get there,” says Conway, my guest on the 55th episode of the CUES Podcast.
When working on strategy, it’s important to examine “why.” Conway recommends the book Start With the Why by Simon Sinek to help you understand the concept of “people don’t buy what you do they buy why you do it,” she says.
“The why and not the what are the foundation for strategic decisions,” she adds.
Knowing that, she suggests beginning each planning session “with the confirmation that we’re committed to our core purpose, mission, vision and our values.”
“Those are really the foundations of your business. They answer who you are, where you are going and what you want to achieve.
“If we stick by those, then it’s going to be a lot easier for us to make decisions” about things like what products to implement and mergers, she explains.
The more you do this, the better you’ll get at the strategic gut check when making hard decisions.
“If any new idea doesn’t pass the strategic gut check test of aligning with your core purpose, mission and vision, don’t do it,” says Conway.
Some highlights from my interview with Bryn include:
a) an in-depth examination into the core elements of strategic planning, including core purpose, vision and mission;
b) how to clearly communicate and execute your organization’s competitive advantage; and
c) how to apply the “strategic guy check” to ensure you are planning with purpose.
Listen to my conversation with Bryn Conway.
The CUES podcast is an audio program hosted by James Lenz, CUES professional development manager. James talks to credit union and cross-industry experts for their perspectives on trends and topics that matter to you.