Your Competitor’s Marketing Plans Revealed!

Your Competitor’s Marketing Plans Revealed!

What if…

A healthy percentage of your lenders exceeded their annual production goals…by June 30th?

What if…

A healthy percentage of your lenders produced more than twice their annual sales goals annually without working any harder then they currently are working?

We’re not surprised by these results.  They are quite common for our clients.  We’re talking documented results! 

We’re accustom to seeing a $4M to $5M annual producer produce $8M to $10M with the same or less effort as it took to produce $5M.  We’ve watched $10M to $17M annual producers produce $25M, $30M or more with the same amount of energy as it took to produce $10M. 

They’ve doubled their production without working longer hours.

Here’s the honest truth, the sales activities of the majority of lenders are inefficient and moderately effective.  Your lenders are simply working way too hard for what they produce. 

And the problem isn’t interest rates, competition, or market conditions…it’s your lender’s outdated and antiquated marketing and sales approaches that are the problem!  They’ve been marketing bank products and services in exactly the same way for the past two to three decades.    

It’s that simple…and good news…it’s not that difficult, time consuming or costly to correct.  The cost of the solution is pennies in comparison to the cost “under-performing” lenders have on bank profits.  Yes, your “A-players” are under-performing. 

Your Competitor’s Marketing Plans Revealed!

In my last blog, I promised I would show you the exact marketing plan your competitors are using to source new business.  How valuable would that be?  Incredibly valuable.

For over 16 years, my partner Lisa and I have been modernizing and honing the sales strategies of commercial lenders and affecting positive cultural change by helping their banks become more market driven.

As you can imagine, we’ve witnessed first-hand, how thousands of commercial lenders across the country market, sell and speak about their bank’s products and services.  Before I share your competitor’s marketing plan, I want to share six of the more striking marketing similarities among commercial lenders in every State:

  1. They tend to be generalists – Most lenders know a little bit about a lot of different industries.  The old “jack of all trades…master of none” adage applies.  As a result, the “value-add” a lender brings to a prospective customer is greatly limited.  The typical lender’s marketing approach is “shallow and wide” as opposed to “narrow and deep” and accordingly they’ve positioned themselves as a commodity.  Now in rural and smaller markets, a narrow and deep marketing approach isn’t as feasible.  In those instances, differentiation can be created by a marketing approach that is more of a blended strategy we define as “narrower and deeper.”
  2. They sound alike – Lenders in every state use the same jargon, acronyms and buzz-words and make the same representations to prospects and customers as their competitors.  There are a ton of banks and bankers who still believe talking about their customer service makes them distinctive.  Take look at your own website and see if this is true about your bank.  As a result, your lenders sound like “talking brochures” when talking to prospects and customers and your bank has no discernable uniqueness.  And because of bullet #1 above, most lenders do little to tailor their conversations to their audience or to develop questions that are specific to the customer’s industry.  This results in further commoditization.
  3. They sell alike – 80% of lenders actually manage the sales process in exactly the same way as their competitors.  They behave the same way too.  The approach is very transaction-oriented and financial-package focused.  As a result, customer expectations of banks continues to decline because most every bank offers the same, traditional suite of personal and business credit, deposit and cash management solutions.  Practically every bank also touts their bankers as being “trusted advisors” and “consultants.”  It’s become similar to the customer service representation made by banks…but actual lender behaviors face-to-face with prospects and customers are anything but advisory or consultative.  This I promise!
  4. They limit their value to the customer – Most commercial lenders view themselves as experts in financing as if this makes them unique.  Just the opposite is true…being an expert in financing makes you a commodity.  This is the bare minimum expectation of lenders.  As a result, this gives your bank minimal if any competitive advantage.  Granted, on a one-off transaction where you can close quickly or structure a credit in a unique way to satisfy a borrower’s need does give your bank a competitive advantage.  But overall, being an “expert in financing” is part of a list of “standard” features expected of a bank.  Not many people are terribly interested in buying a car that only comes with the “standard” list of options.  But that’s the trend in banking.
  5. Over reliance on third party referrals – The primary way most bankers get new business is through referrals from commercial real estate brokers, CPAs and a few attorneys.  Customers have historically provided referrals too.  Essentially, most lenders want to be “dropped into” an already underway transaction where they can leverage already established relationships of other trusted advisors.  And, there’s nothing wrong with that with two exceptions, #1. Eight out of ten times, lenders are being dropped into a bidding war.  Bidding wars involving multiple banks competing for the same deal provide almost no opportunity to differentiate your bank from other banks competing for the same business, #2. Because of the newness of the relationship, the lender doesn’t have much of a connection with the borrower and no loyalty has been built.  The primary factor that distinguishes one bank from another in a bidding war is rates.  We call bidding wars a “red ocean” sales opportunity similar to the color of the ocean when frenzied sharks rip at a dead carcass.  What most bankers aren’t very good at is creating what we call “blue ocean” sales opportunities.  Blue ocean sales opportunities are opportunities where a prospective new loan or deposit customer selects their new bank without much if an interest in comparison shopping other banks and where rates aren’t in the top three considerations for choosing their next bank.  The bottom line is bankers rely predominantly on luck and the efforts of their “COIs” to fill their pipeline.  If that isn’t a scary proposition I don’t know what is?  If no referrals are received, a lender usually has a weak pipeline.  It’s that simple.
  6. Time wasted on poor quality prospects – As a result of point #5, a very high percentage of the referrals received by bankers are of poor to low quality.  This creates a whole host of ripple effects including:
    1. Time wasted driving to and meeting with prospects only to find out that they aren’t a match your bank’s credit and industry profile
    2. The awkwardness that is created when a banker has to tell his / her referral source that they can’t help the person who was referred
    3. Bankers who are behind on their goals and feeling pressure to produce will spend time on “long-shot” deals to pad their pipeline report and have something new to talk about at the Monday morning marketing meeting.  Now they’ve not only wasted their own time but also wasted the time of their credit analyst as well.

The marketing and sales behaviors described above have existed in banking for over 30 years!  So without further ado, I promised I would show you your competitor’s marketing plans so here they are!

This is a visual representation of the marketing plans used by your competitor’s lenders. 

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Now this is not what their lender’s written marketing plans say they’ll do to develop business. Nor is it what your lender’s written marketing plans say.  But, it is what they do!

But make no bones about it, the above diagram accurately depicts exactly how eight out of ten commercial lenders approach their markets.  Their marketing efforts lack an intelligent strategy and focus, and their sales efforts lack discernment, discipline and preparation.

Are there repercussions from such an unfocused, “red-ocean” approach to sales that rely too heavily on the efforts of “COIs” that with the best of intentions provide a lot of low to poor quality referrals?  Absolutely including but not limited to:

  • Over 50% of today’s commercial lenders don’t hit their annual sales goals. 
  • Lender marketing efforts are very “hit or miss” wasting time that could be put to better use
  • Being buried in renewals of small, unprofitable relationships all of whom want service
  • Lenders who sound and sell alike which creates market commoditization, price sensitivity and margin pressure

The honest truth is that the sales activities of the majority of your lenders are incredibly inefficient and marginally ineffective.  Your lenders are simply working way too hard for what they produce.

We’ve spent the past sixteen years showing commercial lenders of all experience levels how to be much more productive.

Click Here To Learn How To Help Your Lenders Become Much More Productive

Here’s to your marketing and sales success!

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Have Your Lenders Become Sales Dinosaurs?

Have Your Lenders Become Sales Dinosaurs?

So what did the Sales Dinosaur Assessment for Bank CEOs in my last email reveal about your bank?  What new insights did you have about how your bank needs to evolve?  The bank-assessment in my last blog asked bank CEOs and Presidents twelve questions designed to expose a small portion of the antiquated thinking that currently exists in your bank. 

Why should you care about “antiquated thinking”?

Because nothing stifles progress, creativity and innovation faster than old, familiar habitual ways of thinking.  Wait a minute! Did I just suggest that our thinking is habitual?  Yes I did!  Just like our behaviors are habitual, the ways in which we think are also habitual.

Our habits of thought are like blinders.  They obstruct our peripheral vision and in doing so prevent us from discovering new ways to hone our organization.  As bank leaders, are you cultivating a culture that encourages and rewards new ideas?  Do your managers understand how valuable employee perspectives are in the quest to improve the customer experience?  Or are your executives, managers and employees comfortable with the “status quo?”

Has Your Bank Become a Sales Dinosaur?  Yes!  That is the best possible answer.  It means you’re not in denial about the fact that your lenders, relationship and branch managers are pretty much saying and selling the exact same way as your competitors.  It means you realize your sale teams continue to use the same, tired old approaches to finding and closing business as they have for the past two and three decades.  Every banker is approaching the same commercial real estate brokers, CPAs and attorneys for referrals.  What could be less original than that?

This, the second, follow-on blog is a “self-assessment” for lenders and relationship managers to help them determine if they’ve also become sales dinosaurs.  You likely will find this assessment to be very revealing.

Have Your Lenders Become Sales Dinosaurs?

Sales-Assessment for Lenders and Relationship Managers

You have likely become a sales dinosaur if…

  1. You’re still working the same types of COIs as you have for the past 10 to 30+ years
  2. When you think of a COI, you think of a “high profile” person
  3. Half or more of your deal flow are referrals from real estate brokers, CPAs and attorneys
  4. Your pre-call planning consists of discussing your call in the car on the way to the sales call
  5. You rely on your years of experience and “wing-it” on sales calls
  6. You consider yourself a “generalist”
  7. You believe specializing in an industry limits your opportunities
  8. Your goal on an initial prospect call is to get a package
  9. You receive far more referrals than you give
  10. You look for and like “deals with hair” on them
  11. You bring in more real estate deals than C&I business
  12. You often find yourself competing with 3 to 5 other banks for a deal
  13. You use phrases like “relationship banking,” “personal relationships”, “customized solutions,” “we’re dedicated to the community” and “excellent customer service” when talking to prospects and customers

Looking in the mirror isn’t easy.  Confronting the truth is uncomfortable.  The more “yes” or “possibly” you had as answers to the questions above, the more likely it is that you’ve become a sales dinosaur.  If more than 50% of your answers were yes, you’re among a dying breed.

What’s the point of the sales assessment for lenders and relationship managers?  Awareness!  To make you aware that you and your bank are undifferentiated, commoditized and antiquated in your approach to marketing and sales!

Einstein said “you can’t solve a problem with the same thinking that created it.” 

As lenders, relationship and branch managers, it is imperative we understand and acknowledge we’ve commoditized yourselves due to lack of originality, lack of a defined strategy and lack of discipline.  As a result, every banker sounds and sells like every other banker in the market.

We all know the game is changing in banking; the

question is how are you going to change with the times?

Check out BTI Growth Advisors evolutionary, new website and resources.

Would it be valuable to see your competitor’s marketing plans?  Keep an eye out for my next blog in a couple weeks!  I am going to show you the exact marketing plan of all your competitors.

Best regards,

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Has Your Bank Become a Sales Dinosaur?

As you’ve seen from past blogs, the consistent theme of the blog content we produce focuses on helping bankers and banks evolve and become more progressive, innovative institutions.

The theme of my next two blogs is Has Your Bank Become a Sales Dinosaur?  This first blog is a “bank-assessment” designed to assist bank CEOs and Presidents to determine if their bank has become a sales dinosaur.

The second, follow-on blog in June will also be a “self-assessment” for lenders to help them determine if they’ve become a sales dinosaur.  You may find this assessment to be very revealing.

 

Has Your Bank Become a Sales Dinosaur?
Bank-Assessment for CEOs & Presidents

Your bank has likely become a sales dinosaur if…

  1. You still believe hiring seasoned lenders who promise to “bring over their book of business” works out favorably for your bank
  2. You believe the past production of a lender is a predictor of future production
  3. You believe a seasoned banker is an effective banker
  4. You believe a seasoned banker doesn’t need further training and development
  5. You believe your lenders are unique in the market
  6. You believe your lenders communicate and sell differently than your competitors
  7. You have lenders who met their sales goals their first year being employed at your bank but haven’t met their sales goals in their second and third years
  8. Your lenders rely heavily on referrals from real estate brokers, CPAs and attorneys for most of their deal flow
  9. Your lenders are still using the same strategies to find and close business as they have for the past decade or more
  10. Your lenders negotiate harder with your credit committee or credit administrator than they do with their customers
  11. Your bank has merged in the last several years and you believe you have a united and aligned sales culture
  12. You believe your bank has a united sales culture that’s consistently deployed in all regions and all offices

Looking in the mirror isn’t easy.  Confronting the truth is uncomfortable.  The more “yeses” or “possibly” you had as answers to the questions above, the more likely it is that your bank has become a sales dinosaur.  If more than 50% of your answers were “yeses,” you’re bank is among a dying breed.

What’s the point of the CEO / President bank assessment?  Awareness!  To make you aware that your bank and your lending teams are undifferentiated, commoditized and antiquated in your approach to marketing, sales and hiring!

Hall of Fame hockey player Wayne Gretzky said “I skate to where the puck is going, not where it’s been.”

As leaders in your bank (you can be a leader without having the title) it is imperative we understand where the proverbial “puck” is going in banking and skate in that direction.  We all know the game is changing in banking, the question is how are your employees and executives going to change with the times?

Keep an eye out for my next blog entitled, “Have Your Lenders Become Sales Dinosaurs?

Best regards,

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Developing Your Bank Leaders – Part Two

Hopefully my last blog on the difference between leadership and management piqued your interest.  If it didn’t, it should have.  Why do I say this?

Think about the executive management team of your bank.  What are the ages of your executives?  In many banks today, the executive management team averages 60 plus years of age.  Now think of your regional managers, what are their ages?  Again, the average age is likely 50 to 55 years of age.  This could easily turn into a discussion on the critical need for banks to invest more energy into developing tomorrow’s leaders as part of their succession planning efforts.  But it won’t!  In fact, I will be discussing this subject in future blogs so stay tuned!

Leadership vs. Management Further Distinguished

What is the difference between management and leadership? This is the question I started with in my last blog.  The subject is so vast, it bears continuing to explore and learn the differences so supervisors, managers and executives can consciously behave in optimal ways in any situation.  Idealistic I know, but certainly worth striving for.  The biggest difference between managers and leaders is the way they motivate and focus employees.

Simply said, leadership is a passion, management is a profession. While management is a title and a “job,” any employee in your bank can distinguish themselves as a leader regardless of their title, responsibilities or seniority.  Some of the best leaders I’ve met from over 25 years of senior level consulting don’t have the title.  But they do have the passion and the behaviors!

In A Very Traditional Sense… 

Managers Have Subordinates
By definition, managers have subordinates, leaders have followers.  The relationship between a manager and their subordinates is a traditional “hierarchy”.  Unless their title is given as a mark of seniority, a manager’s power over others is through formal authority.

Leaders Have Followers
Leaders do not have subordinates as managers do, they have followers and devotees.  True leaders have an ability to connect with both the hearts and minds of employees.  They understand a good employee will give you their mind, but to become a great employee, you have to find a way to connect with, and engage, the heart of an employee.  Effective leaders invest the time to develop authentic, meaningful relationships with employees.  The conversations these leaders have, transcend traditional work related subjects.  Creating an environment where employees feel safe to be real goes a long way to engaging the heart and converting employees into followers.

Managers Use a Dictatorial Management Style
Managers have a position of authority vested in them by the bank, and their subordinates work for them and largely do as they are told.  Human nature being what it is, most of us will do just enough to get the reward.  But we won’t do a whole lot more.  Employees will give a good manager a “solid day’s work” but at 5:02PM in the afternoon, they are out the door!  This management style is authoritarian or dictatorial in nature in that the manager tells or directs the subordinate what to do, and the subordinate does this because they have been promised a reward (at minimum their salary) for doing so.  A dictatorial management style doesn’t mean that a manager is rude, arrogant and disrespectful.  It simply refers to where the authority lies and how decisions get made.

Leaders Use a Democratic Leadership Style
Telling people what to do does not inspire them.  Often, it can have quite the opposite effect.  Leaders understand the power of creating an appealing vision where employees play an integral role in the creation of that vision and the decision making process.  Facilitating processes that create a far more engaged and passionate work force is a primary leadership goal.  A leader focuses on where a team, department or organization needs to go and strives to allow employees maximum say so and decision making authority throughout the process.  That’s where employee buy-in and engagement come from.

The Focus of a Manager
Managers are paid to get things done (they are subordinates too), often within tight time constraints. Thus, they naturally pass on this work focus to their subordinates.  Managers know (or should know) that employee discipline often mirrors manager discipline.  Scary thought, right?  To run an efficient and effective team or department that gets things done on time with a high degree of quality and very few mistakes is an art that most managers can improve on.  At least 75% of employee, team or departmental mistakes are linked to managerial and process shortcomings.  Successful managers rely on organizational structures, defined processes and a high degree of oversight to boost productivity.

The Focus of a Leader
Leaders on the other hand boost productivity through inspiration and investment…emotional investment.  Leaders are paid to develop, coach and mentor employees.  Leaders understand that their employees are one of the few things that differentiate their bank from their competitors.  For this reason, they are not afraid to invest time and financial resources to grow the capacity of their employees. Leaders understand that to be a world class organization, you have to develop world class employees.  For a bank filled with mostly C-Players and B-Players, financial performance and growth will be stymied.  Leaders know that employee growth is a strong contributor to bank growth and accordingly insure their bank leverages both internal and external resources to develop employees.

Managers Seek Reliability
“Running smoothly” is confirmation of a high functioning team or department for a manager.  It’s not enough to have the right players on the bus today; effective managers strive to make sure the right players are in the right seats on the bus.  Deviation from the standard is frowned on because let’s face it, if it’s not broken why fix it?  For an industry like banking, this kind of mindset and skill set is extremely valuable for the predictability and consistency needed when dealing with customer’s finances and to adhere to strict regulatory standards.

Leaders Seek Ideas and Innovation
Like the farmer who cultivates the soil and fertilizes their crops, today’s leaders need to be effective at cultivating the minds of employees in order to grow ideas.  The mind of employee is the fertile soil a leader needs to spawn innovative new ideas that lead to process improvement and improved service delivery.  Leaders know that innovation will never be birthed from a closed mind. They work hard to create an environment where employees are encouraged to think about how to streamline or optimize some aspect of the business.  In short, they strive to cultivate open-mindedness in their departments.  The lowest level employees are often the ones that have good ideas and perspectives on how to improve things in large part because they spend so much time interacting with customers.  Leaders know that a meaningful idea that could improve the business can come from any employee at any level on the bank  and that is why they are willing to make the emotional investment in employees at every level in the bank.In summary

This table summarizes the above ideas (and more) and gives a sense of the differences between being a leader and being a manager. This is, of course, an illustrative characterization.  There is a whole spectrum between either ends of these scales and it is the effective manager/leader that is able to flow within this range in an effort to maximize their effectiveness.

It could be said that leadership is a passion and management is a profession.  Leadership is about growth, humility and accomplishing lofty goals through shared vision, shared passions, shared decision-making and shared efforts.  Management is about effectiveness, efficiency and quality outputs.  To be clear, both are essential and equally necessary if a bank is going to grow and evolve with the times.

In conclusion, the many studies conducted on employee engagement (See Gallop) prove that there is a quantifiable and undeniable economic benefit to a company that is able to engage both the mind and heart of their employees.  Clearly both effective management and effective leadership are needed to maximize employee productivity.

As you can tell, I have a passion for this subject.  If you would like to discuss some management and leadership situation in your bank, please give me a call.  My personal cell number is 760-445-4980.

Here’s to your management and leadership success!

Developing Your Bank Leaders – Part One

In my next series of blogs, we will be focusing on a subject near and dear to my heart…leadership!

Much of our time as a company is focused on working with, developing and coaching leaders in banks.  For some executives, we’re working on succession issues and preparing them for their next promotion.  For others, they’ve already been promoted into a new leadership position and we’re helping them develop the mindset and skillsets to be effective in their new role.  Other times, we’re working with CEOs and Presidents helping them take their leadership skills to the next level.

Leadership” has been such a commonly used term in business for well over three decades.  Team leader, branch leader, department leader, and project leader are titles given to executives, managers and supervisors who at best understand only conceptually what leadership is.  Even more confusing is the difference between management and leadership.

Here’s the distinction: Management is an assignment.  Leadership is a choice!

Leadership and management must go hand in hand. They are not the same thing. But they are necessarily linked, and complementary. Any effort to separate the two is likely to cause more problems than it solves.

Still, much ink has been spent delineating the differences. The manager’s job is to plan, organize and coordinate. The leader’s job is to inspire and motivate. In his 1989 book “On Becoming a Leader,” Warren Bennis composed a list of the differences:

  • The manager administers; the leader innovates.
  • The manager is a copy; the leader is an original.
  • The manager maintains; the leader develops.
  • The manager focuses on systems and structure; the leader focuses on people.
  • The manager relies on control; the leader inspires trust.
  • The manager has a short-range view; the leader has a long-range perspective.
  • The manager asks how and when; the leader asks what and why.
  • The manager has his or her eye always on the bottom line; the leader’s eye is on the horizon.
  • The manager imitates; the leader originates.
  • The manager accepts the status quo; the leader challenges it.
  • The manager is the classic good soldier; the leader is his or her own person.
  • The manager does things right; the leader does the right thing.

A very powerful question to consider is what percentage of your week is spent managing and what percentage is spent leading?  And are these the correct percentages?

Adapted From “The Wall Street Guide For Management”Leadership

Perhaps there was a time when the calling of the manager and that of the leader could be separated. A foreman in an industrial-era factory probably didn’t have to give much thought to what he was producing or to the people who were producing it. His or her job was to follow orders, organize the work, assign the right people to the necessary tasks, coordinate the results, and ensure the job got done as ordered. The focus was on efficiency.

But in the new economy, where value comes increasingly from the knowledge of people, and where workers are no longer undifferentiated cogs in an industrial machine, management and leadership are not easily separated. People look to their managers, not just to assign them a task, but to define for them a purpose. And managers must organize workers, not just to maximize efficiency, but to nurture skills, develop talent and inspire results.

The late management guru Peter Drucker was one of the first to recognize this truth, as he was to recognize so many other management truths. He identified the emergence of the “knowledge worker,” and the profound differences that would cause in the way business was organized.

With the rise of the knowledge worker, “one does not ‘manage’ people,” Mr. Drucker wrote. “The task is to lead people. And the goal is to make productive the specific strengths and knowledge of every individual.”

Over the next several blogs, we’ll be taking a more in depth look at leadership and the differences between leadership and management.

Keep an eye out!

Evolutionary Business Planning For Lenders – Part Four – Final

Which Would You Prefer, To Be Uninspired or Inspired?

Confident businessman runs a successful business project. Business icons and growing arrow on the background.

Confident businessman runs a successful business project. Business icons and growing arrow on the background.

Its 8:51 Saturday morning and I just sat down with a hot cup of tea to write the final blog in the Taking an Evolutionary Approach to Business Planning.  I am feeling very peaceful and grateful for my life.  Before I get into the subject of business plans, I want to discuss how important it is these days for us to find ways to feel grateful in our lives.  Our world today is filled with threats, chaos, turmoil and injustices.  Our lives are pressure packed and exhausting.  There are so many things in life that deplete us emotionally, physically, spiritually and energetically, it is imperative we find ways to fill ourselves and to feel grateful.  Any activity that is connected to a personal passion brings us joy and gratitude.  When was the last time you allowed yourself the time to enjoy something you are passionate about?  Sometimes we can connect to our gratitude with the smallest, simplest act such as when we look at our children sleeping soundly in their beds, or when we take a moment to really take in the beauty of nature just outside our window.

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Evolutionary Business Planning For Lenders – Part Three

In this, the third blog in our educational series, Taking an Evolutionary Approach to Business Planning, our intent is to help your lenders modify their 2016 business plans, based on what they have learned from the analysis of their 2015 activities and results.

Plan Your Work; Work Your Plan…Why Don’t More Lenders Do This?

Production Process on the Mechanism of Metal Gears.

Production Process on the Mechanism of Metal Gears.

At the start of every year, an extremely high percentage of business plan conversations take place between sales managers and lenders beginning exactly the same way.  The conversation begins with the lender telling their sales manager, ”I want to bring in $ X,000,000 of loans” or “My goal this year is to bring in $X,000,000 of loans and deposits.”  Wanting to produce a result is great, having a goal is important.  The real question becomes how are your lenders going to produce the specified result?  For many lenders there is a vast difference between what they say they are going to do in their business plan and what they actually do blog in and blog out.  Why is that?  Why don’t more lenders follow their plans?  The answer is fairly obvious, no accountability to the business plan by either the lender or their sales manager.  Much of the responsibility for lenders not following their business plans falls on the shoulders of their sales managers.

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Evolutionary Business Planning For Lenders – Part Two

If you’ve been reading our blogs you’re beginning to recognize that we advocate taking a more thoughtful and strategic approach to every facet of sales.  In this, the second blog in our educational series, Taking an Evolutionary Approach to Business Planning, our intent is to leverage the insights learned from the recommended actions laid out in our last blog.

What Insights Were Gleaned from Last Week’s Analysis?

arrowOliver Wendell Holmes said, “A moment’s insight is sometimes worth a life’s experience.”  Wow, that quote certainly sheds light on the value of reflecting.

In last our last blog we laid out a process designed to help your lenders discover insights on how to be more efficient and effective in their sales efforts.  The goal of this process is to develop stronger 2016 business plans and stronger 2016 results.  The steps we discussed were:

  1. Be Intentional
  2. Discover Your Numbers and Closing Ratios

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Evolutionary Business Planning for Lenders – Part One

We’re excited to begin discussing lender business plans as part of our four-part blog series on Taking an Evolutionary Approach to Business Planning.

It doesn’t matter if your lenders have completed their annual business plans or are in the process.  I promise that the things we will be shedding light on over these next four weeks will measurably improve the quality of your lender’s business plans and dramatically increase the odds of them hitting their annual production goals.

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