The Road To Reinvnetion Jeff Rendel

Question 1

What are the present trends that are great opportunities for credit unions? 3 of them

Answer 1

Banking is necessary
Branches are relationship centers
Members want more than loans and deposits
Innovation is nothing new, it just materializes

Question 2

What is the future of branches

Answer 2

Relationships, not transactions

Question 3

What is discovering your credit unions “sweet spot”?

Answer 3

Determining your members needs, understanding your competitors offerings and being honest with your credit unions capabilities.

Question 4

Who are expected to develop expertise through the credit unions, create and deliver profitable products, make innovation and change a consistent part of operations and share a strategic perspective throughout the credit union?

Answer 4

C-level leaders

Question 5

What has made companies the most successful over the last 25 years?

Answer 5

Staying extremely focused

Question 6

What have the most successful companies developed?

Answer 6

Objectives, metrics and tactics that are repeatable in any business conditions.

Question 7

Our credit union should see that we exchange _________ for ____________

Answer 7

Value

Revenue

Question 8

Strategy is most often focused on the top line, growing revenue. Most importantly we should focus on exchanging value for revenue in?

Answer 8

All products and services

Question 9

Does more value come with innovation or imitation?

Answer 9

Imitation

Question 10

Higher probabilities of success lie in incremental ___________ to a product, service or process.

Answer 10

Improvements

Question 11

To sell at C-level, one must?

Answer 11

Think at C-level

Question 12

If you are knowing a C-level leaders vision, offering ideas/solutions to help realize that vision and building a business case for every idea (ROI, growth, maker share, etc.) What are you doing?

Answer 12

Thinking at C-level

Question 13

What does it mean to be the devil’s advocate regarding innovation or imitation?

Answer 13

Finding holes, or problems within the proposed solution.

Question 14

What would a C-level leader expect you to present with your option?

Answer 14

Something with the best chance of success.

Question 15

What are 3 things that you should present with an idea to a C-level leader?

Answer 15

Ideas to contribution to revenue/profit
Fit’s within the vision/mission
Ease of execution