Hey! Whadda You Lookin’ At? And Why You Lookin’ At It? · 2016-03-02 · • Assign...
Transcript of Hey! Whadda You Lookin’ At? And Why You Lookin’ At It? · 2016-03-02 · • Assign...
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Hey! Whadda You Lookin’ At?
And Why You Lookin’ At It?
Effective Goal Setting and Accurate Performance Tracking for
Business Development
John GodwinHaynes Godwin Consulting
www.haynesgodwin.com
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Whadda You Lookin’ At?
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And Why You Lookin’ At It?
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Agenda
• What? What you should be tracking – the statistics and goals that are critical to business development success. And those that are less important as well.
• Why? Understanding the reasons why you should establish certain goals and track certain statistics.
• Who? Who should be involved in developing the goals and tracking mechanisms and who should be looking at them.
• When? When, and how often, these goals and statistics should be reviewed.
• How? The most effective ways to establish goals and track performance to insure accountability and results!
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So we start with…
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What?• Intelligent• Agreed-Upon• Motivational• Specific• Measurable• Attainable• Relevant• Timely or Time-bound
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Which products/services/things are most important?
• Savings• Loans• Direct Deposit• Checking account• PC Banking• Debit Cards• CDs
• Credit cards• ATM cards• Telephone Teller• Challenging SEGs• What else at YOUR credit
union?
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What?(Relevance)
• Share accounts• Checking accounts• Direct Deposit• Overdraft• PC Banking/Telephone Teller• Plastics• Potential members?
• Some Personal Loans• CDs• Brokerage• Car loans• R.E. loans• Penetration
(accounts/employees)
More Control Less Control
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What?(Measurable)
• What information CAN you get (easily)?• What information can be presented in an
easily recognizable and easily retrievable format?
• Accuracy? Watch for large changes and periodically check sources.
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“Important” BD Numbers
• # of new SEGs….or…..• # of potential members or
BOTH?• # of offsites• # of accounts/offsite• Specific SEG penetration
• # of phone calls to prospects
• Overall SEG penetration• “Response Rate” of new
SEG letters.• # of “leads”
IMPORTANT EHHH..NOT SO MUCH
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But……WHYYY?
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Why you ask? I’ll tell you…
• Why aren’t checking accounts “that important?”
• Why shouldn’t SEG penetration be a high priority goal?
• Why not track # of phone calls to SEGs? (But there’s a caveat…)
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Why?
• Questioning “why” you track each goal will provide a better understanding of what’s important.
• Make sure you are tracking the END RESULT that you want, NOT the action you take to get the end result.
• Be flexible! Discussion of goals and metrics will lead to better decisions!
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Who?
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Who? Why the Doctor!
• Anyone assigned a goal, or who plays a role in attaining the goal should have a voice in determining the goal.
• When creating goals, if you involve team members they’re “our” goals rather than “the boss’s” goals.
• Creates accountability.
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When?
• As often as necessary to keep the goals fresh in everyone’s mind.
• Weekly team meetings are a valuable tool. • Printed copies of the goals should be in front
of everyone. • Don’t look to blame, look to understand if
goals aren’t being met.
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How?
• Start tracking numbers now – better to track too much and scale back than not track enough and have to start from scratch.
• Use historical data whenever possible.• If you hear yourself say “that sounds
reasonable,” then STOP.
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How?
• Accountability – weekly meetings – have progress reports to avoid last minute scrambles.
• Assign responsibility for 100% of a goal – it may lead to multiple goals for multiple individuals – i.e. branches and BD staff.
• Include the goals in the individual’s performance evaluation.
• Coach, coach, coach!
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Summary
• Every credit union is different – what you track and what’s important to you may be different.
• Question why you are tracking all the time.• Don’t use “sounds reasonable” as a methodology.• Involve everyone who’s involved.• Build a system of accountability.• Be flexible!
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The End - NOT
It’s my hope that this presentation does not end when you walk out the door…
– Talk to each other– Stay in touch – with me and each other (but especially
me)– Share ideas– If you’re a credit union, you cooperate. It’s what you
do!