Four Community Bank or Credit Union Risks You Should Take
Discover how taking risks in bank or credit union marketing can lead to growth and innovation. Learn insights from On The Mark Strategies.
Read More“Every morning in Africa, an antelope wakes up. It knows it must outrun the fastest lion, or it will be killed. Every morning in Africa, a lion wakes up. It knows it must run faster than the slowest antelope, or it will starve. It doesn't matter whether you're the lion or an antelope - when the sun comes up, you'd better be running." – African Proverb
Community financial institution leaders should always be on the move. Learning new things. Tackling new challenges. Growing, growing, growing. Because if you’re not growing…you’re stagnating.
Like the antelope and lion in the proverb, you must run!
But what’s the difference between the antelope and lion in bank and credit union leadership training? It might seem like the antelope is weaker since it “runs away,” but that’s not necessarily the case. Each leadership style has its strengths and weaknesses.
Antelopes are incredibly fast and versatile…but they are also cautious. An antelope must constantly scan its surroundings for predators lurking in the grass. Like the antelope, this type of leader tends to be more cautious and risk averse.
Pros: The antelope leader isn’t foolhardy. He is skeptical of new trends, waiting to see if it’s really a game-changer or just a fad. This type of leader shields his team from hazardous ventures. One question bouncing around in an antelope leader’s head is: “Is this worth it?” At his best, the antelope leader pivots quickly upon spotting a threat to the institution and speedily implements changes.
Cons: The primary downside of an antelope leader is inaction. Some caution is good (and keeps the institution alive). But too much caution paralyzes the bank or credit union. It sinks new initiatives and necessary progress. The worst type of antelope leader might end up running away from change…thinking too much about the cost and not enough about potential benefits.
Lions are large, powerful animals at the top of the food chain. They need 11 to 16 pounds of meat a day…which means they have a lot of prey to chase. A lion leader loves chasing the next great thing and is ready to gorge the institution on success.
Pros: This type of leader isn’t shy. New industry developments are opportunities to seize, and the lion wastes no time pursuing innovation. The lion leader grabs hold of a strategic direction and pushes forward until it’s complete. The question always on the lion’s mind is: “What’s next?” At her best, this leader prepares the institution for the future and outpaces slow competitors.
Cons: The lion leader can be too aggressive at times. Chasing opportunities too quickly occasionally burns this leader with bad deals. Plus, such an aggressive project schedule might damage team morale and cause burnout. The worst kind of lion leader locks eyes with the future…and forgets to look around them in the present.
You have tendencies toward the antelope or the lion (whether you realize it or not). But nothing restricts you to only acting off those tendencies. Take the best qualities of both. Elevate your bank and credit union leadership training by balancing caution and risk. Know when to chase and when to run away.
But no matter what you do…remember to run!
Do you need your up-and-coming leaders running at full speed? On The Mark Strategies’ bank and credit union leadership training program can help. Book a free consultation today.