Fall is often “busy season,” full of budgeting, mad-dash project completion and yes, strategic planning. This works alongside budget creation, since projects you plan at the session quickly find their way into the budget shortly thereafter. But it isn’t the only way to do bank or credit union strategic planning.
Another Tool in Your Belt
We perform plenty of fall sessions every year, and fantastic plans emerge from these sessions. But some credit unions and banks do them in the fall simply because they’ve always done it that way. Fall sessions aren’t for every institution. Some places will come up with better strategic plans at other times of the year.
Community financial institutions are as unique as fingerprints, and their planning needs are unique too. So, think of this as another tool in your belt. Don’t be afraid to use it if you need a change.
You Know What’s Coming
You don’t pull your biggest projects out of a hat like a rabbit at a magic show. You typically see them coming from a country mile away. Opening a new branch, performing a core conversion or redesigning your website are projects that don’t sneak up on you. The budget is likely forming around them before you have the session.
There’s nothing wrong with tying the bank or credit union planning session to budget creation…but it might also cause extra stress where it’s not necessary. If you know what’s coming, you have room to build the budget without the next plan in hand.
And what if you allocate money to something that doesn’t wind up in the plan? If so, you didn’t lose anything. The money is still there. You may just need to reallocate.
Clearer Minds = Better Focus
Fall is an anxious time for many people (89% of people report stress at this time of year). Work commitments abound, but so do personal commitments. That means your planning session participants all have a flood of concerns bobbing around in their heads.
Strategy must be the primary focus at your strategic planning session, and it’s sometimes challenging for team members to leave seasonal troubles outside the door.
Holding your session at a different time of year may lead to fresher minds and fresher perspectives. People can focus entirely on the strategy. A January session (for instance) allows people to finish up the prior year, have some time off and come back ready to tackle new challenges.
Finish Up Before Starting Anew
Generating new projects before the old ones finish could be overwhelming for staff. It can feel like a “rolling project.” Like waves, one project after another washes over them. Just when they stick their mouths above water for air…another wave hits them.
A non-fall session lets you accomplish your current goals before setting new ones. You finish what’s on your plate before heading back to the buffet for seconds. Don’t be afraid to celebrate goal completion. Then, celebrate the establishment of new goals too.
Your planning session may feel more rewarding if it’s a new beginning.
But no matter what bank or credit union strategic planning session time works for you…remember to have a planning session! On The Mark Strategies provides financial institutions with the best strategic planning facilitation in the industry all throughout the year.
Book a free consultation today and schedule your session.
