15th Annual
CUNA CFO Council Conference and Roundtable
May 17-20, 2009
Caesars Palace | Las Vegas, NV
Continuing Professional Education (CPE) Credits CUNA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-241. Web site: www.nasba.org.
CPE Credits: You can earn 3 group-live CPE credit hours for one of the pre-conference workshops and 17 group-live CPE credit hours for the CFO Conference. No advance preparation is required. For more information regarding administrative policies, such as complaint and refund, please contact CUNA at 800-356-9655, ext. 4123.
New accounting rules for mergers take effect on January 1, 2009, and will have a significant affect on how credit unions will account for mergers in the future. Additionally, these new rules will have a significant affect on how management will analyze the future impact of potential mergers on their balance sheet and income statement.
[ Leadership Track ] Speak to be Heard! Influencing Others to Take Action Stacey Hanke, Educator, Author, Speaker, 1st Impression Consulting, Inc., Chicago, IL
Without effectively communicating your message, you inhibit your maximum potential to: increase profits, cultivate long-term relationships, and prevent misunderstandings.
Physical actions we all do unconsciously that undermine our effectiveness and professional image will get in the way of our earnings potential. Stacey will explain the positive actions you can take to increase your impact and value to your peers and members. This highly interactive session will give you immediate and practical tools to influence your listeners to take action on what you have to say.
What is in it for you?
Influence your listeners to take action.
Avoid the three biggest traps individuals fall into that negatively impact their professional image.
Project an executive presence with confidence and credibility.
Apply less is more when selling yourself and your ideas.
Three techniques that will make or break your message.
Three openers to avoid that will shut down your listeners and prevent you from being taken seriously.
Join us on Sunday, May 17 for the annual CFO Council Golf tournament. Surrounded by the towering Spring Mountains, Siena Golf Club features gently rolling fairways and artful bunkering – plus dazzling views of the Las Vegas skyline. Designed by master architects Brian Curley and Lee Schmidt, Siena is renowned throughout the Las Vegas Valley for its natural beauty and unprecedented serenity.
We will provide transportation along with a box lunch to the course. Golf pricing is $100 for conference attendees and $125 for guests. Club rental is also available for $60 per set.
3:00 –
6:00 p.m.
REGISTRATION
6:00 –
6:30 p.m.
WELCOME RECEPTION for 1st time attendees
We invite all conference first-time attendees to join us at this event. Meet the CFO Council executive committee and find out what our conference is all about.
6:30-
8:00 p.m.
WELCOME RECEPTION Open to all conference attendees
CONFERENCE WELCOME Erin Mendez, Chair, CUNA CFO Council
and SVP Finance & IT, SchoolsFirst FCU, Tustin, CA
8:15–
9:15 a.m.
KEYNOTE PRESENTATION
Boom! Seven Choices for Blowing the Doors Off Business as Usual
Dr. Kevin Freiberg, Author and Thought Leader, San Diego, CA ~ Sponsored by CUNA Mutual Group
What if every person in your organization stopped making excuses and started making a difference? What if everyone in your company refused to be a victim and chose to be part of the solution—regardless of market conditions or circumstances? You would have a business that's BOOMING!
BOOM! is about creating a culture of commitment and accountability —one choice at a time! It shows leaders how to inspire people to assume responsibility for the success of the business. It shows employees how to build a reputation for being indispensable—for “bringing it!”
Leadership is a CHOICE, not a position or title. That's why your company's success is as much the will of the people as it is the will of the CEO. Kevin will inspire your people to step up to the plate of leadership, choose to become a positive force for change and do something extraordinary.
[ Technical Track ] Effective ALM Strategies for Volatile Markets Jim DeMasi, Managing Director and Chief Fixed Income Strategist, Stifel Nicolaus, Baltimore, MD ~ Sponsored by Stifel Nicolaus
Asset/Liability Management for credit unions has become an increasingly challenging process as the capital markets have grown more volatile and complex. In the aftermath of the sub-prime mortgage implosion, risk/reward relationships on both sides of the balance sheet have been dramatically altered. Our presentation will focus on recent trends and developments in the capital markets and the potential impact of these events on asset/liability management strategy. We will provide an outlook for the economy, Fed policy, interest rates, and credit spreads. We will also recommend strategies for managing risk and improving profitability in light of the current market environment, with particular emphasis on the use of investment securities and funding alternatives. The presentation will be interactive and draw upon the experiences and perspectives of the audience members.
[ Leadership Track ] The Ethical Missteps in the 2008 Financial Crisis Marianne Jennings, Professor, W.P. Carey School of Business, Arizona State University, Tempe, AZ ~ Sponsored by Multi-Bank Securities
What ethical issues led to our financial crisis? From the grass roots of consumer/mortgage lending to the sophisticated financial instruments that sprung from those loans. Was everyone honest in their contracts and negotiations? How could the best business minds miss the looming crisis? An evaluation of our ethical standards, in life and business, can provide some answers to what happened. That evaluation will bring some preventive tools for avoiding missteps in the future.
[ Leadership
Track ] Positive Power and Influence
Glenn Dorris, SMS Master Trainer, Situation Management Systems, Nashua, NH ~ Sponsored by MoneyGram International andCUNA Strategic Services
This 1-hour presentation will provide an overview of the Situational Influence Model, which is the foundation of the Positive Power & Influence Program. An additional 15-minute session will immediately follow the presentation for Questions & Answers and further discussion.
[ Technical Track ] BSA Update 2009 John Zasada, Managing Director, RSM McGladrey, Moorhead, MN ~ Sponsored by
Procura, LLC
The Bank Secrecy Act (BSA) continues to be one of the most closely examined areas of regulatory compliance. Credit unions continue to receive Documents of Resolution for a variety of BSA violations. Finally, examiners level of BSA knowledge is much greater than a few years ago which leads to much closer scrutiny during exams.
11:00-11:15 a.m.
NETWORKING BREAK
11:15–
12:30 p.m.
BREAKOUT SESSIONS
[ Leadership Track ] The Ethical Missteps in the 2008 Financial Crisis Marianne Jennings, Professor, W.P. Carey School of Business, Arizona State University, Tempe, AZ ~ Sponsored by Multi-Bank Securities
What ethical issues led to our financial crisis? From the grass roots of consumer/mortgage lending to the sophisticated financial instruments that sprung from those loans. Was everyone honest in their contracts and negotiations? How could the best business minds miss the looming crisis? An evaluation of our ethical standards, in life and business, can provide some answers to what happened. That evaluation will bring some preventive tools for avoiding missteps in the future.
[ Technical Track ] FASB Update: Accounting Issues Chris Vallez, CPA, CICA, MBA, Partner, Nearman, Maynard & Vallez, CPA's, Miami, FL ~ Sponsored by McGuire Performance Solutions, Inc.
The current economic environment and unusual times has required a new look at old standards. At the same time, we have to look to the future in anticipation of new standards and how they will affect credit unions. Join us for a look at accounting standards, past, present, and future.
[ Leadership Track ] Positive Power and Influence
Glenn Dorris, SMS Master Trainer, Situation Management Systems, Nashua, NH ~ Sponsored by MoneyGram International andCUNA Strategic Services
This 1-hour presentation will provide an overview of the Situational Influence Model, which is the foundation of the Positive Power & Influence Program. An additional 15-minute session will immediately follow the presentation for Questions & Answers and further discussion.
[ Technical Track ] Extending Liability Duration using Interest Rate Derivatives Vince Herman, Director Hedging Services, WesCorp, San Dimas, CA ~ Sponsored by
Procura, LLC
Discuss how interest rate derivatives can be effectively used to extend duration on the liability side of credit union balance sheets in order to protect Net Interest Margins and Net Equity Value from an eventual rise in interest rates. For most credit unions, extending liability duration is the only way to hedge balance sheet risk without selling or reducing the asset side of the balance sheet. Vince will also demonstrate the cost and capital efficiencies of using derivatives relative to other risk management tools available to credit unions.
12:30- 1:30 p.m.
MEMBERSHIP RECOGNITION LUNCHEON (open to all attendees) ~ Sponsored by SimpliCD
At this year's membership luncheon, CFO Council members that have completed five or more years of membership will be recognized for their dedication and support at an “informal” presentation.
1:30–
1:45 p.m.
NETWORKING BREAK with visits to Sponsors
1:45 –
2:45 p.m.
[ Leadership Track ] MINI WORKSHOP: A Productive Chaos: Riding the Wave of Change Harry Jones, VP Creative Development, AchieveMax, Inc. Haslett, MN ~ Sponsored by E-Scan Report
In today's challenging business environment, we are faced with the reality of increasing global competition and changing market conditions often brought on by circumstances beyond our control. Suddenly, what once worked in the past may now lead to failure. Periodic reassessment of current business practice, and possible changes in the business climate, is a healthy strategy for any business. Charles Darwin noted that it is not the strongest of the species, nor the most intelligent, that survive ... but the one most responsive to change. Sadly, few organizations promote or support such responsiveness at a time when new competitive realities demand such action. Today's one constant is change. While some organizations view change as a threat, more and more seek the knowledge to turn it into an opportunity. The choice is yours!
[ Technical Track ] MINI WORKSHOP: B Strategic ALM: Managing for Improved Financial Performance in Volatile Times Sally Myers, CEO and Rob Johnson, EVP, c. myers, Phoenix, AZ ~ Sponsored by OfficeMax and CUNA Strategic Services
There is less and less room for error in the financial services industry; the consequences of not asking the right questions have become more severe. The issue is not just credit risk—but building a business model designed for the future. During this session participants will use case studies to explore highlights of a proven process for understanding how to evaluate a current business model to determine if it is relevant and sustainable.
2:45 –
3:00 p.m.
NETWORKING BREAK with visits to Sponsors ~ Sponsored by Crews & Associates
3:00–
4:15 p.m.
MINI WORKSHOPS CONTINUE
6:00 - 7:30 p.m.
SOCIAL EVENT
Today, more than ever, we know how important it is to network with your peers. Because of this we are planning our social event around a networking theme. Join us on Monday evening at 6:00 p.m. for a networking mixer. You'll be able to chat with your peers about all of the important issues facing credit unions and the financial industry today while enjoying good food and drinks. To keep things interesting, expect a few prizes along the way! We'll leave you plenty of time that evening to explore and enjoy all Las Vegas has to offer.
What's Hot with NCUA J. Owen Cole, Director, Office of Capital Markets and Planning, National Credit Union Administration, Alexandria, VA ~ Sponsored by
Procura, LLC
As NCUA’s ranking officer in charge of Capital Markets and the Central Liquidity Facility, Owen Cole will share his critical thinking on very timely topics including the corporate stabilization program, market risk, and liquidity management. His address is a “must see” to learn more about the latest regulation coming from NCUA.
[ Leadership Track ] Leveraging Leadership Presence through Clarity in Communication and Accountability Deedee Myers, President, DDJ Myers, Phoenix, AZ ~ Sponsored by TMG Financial Services
Financial leadership today demands greater clarity in communication with a compelling leadership presence. CFOs are in the unique position in the credit union to observe and understand how each functional area of the credit union contributes to, or detracts from, the overall financial soundness. Only 7% of what we say is communicated through our words; the rest is how we speak. Developing a stronger leadership presence and, in doing so, generates increasing and inspiring greater accountability through communication is critical to success in the role. This session provides a clear way to communicate by outlining and modeling a highly successful and practical communication model that provides you with immediate feedback on how you were heard, how others accept or not accept what you are saying, and how to manage breakdowns that occur through miscommunication, unfulfilled commitments and broken promises that are deterrents to the credit union and relationships within the credit union.
Three key points:
How to increase your effectiveness in being heard
How to declare breakdown in communication
How to build greater trust in relationships
Three tangible benefits
Increased leadership presence
Building a base for greater effectiveness in current role or as a CEO candidate
Immediate feedback on participants' ability to be heard
[ Technical Track ] Beyond Check 21 – The Next Generation of Remote Capture Solutions Mark Curran, CCUE, SVP, Palmetto Cooperative Services, Irmo, SC ~ Sponsored by OfficeMax and CUNA Strategic Services
Now that most financial institutions have implemented some form of Branch Capture processing, its time to look at next generation products, such as ATM Capture, Teller Capture, Merchant Capture and Home Capture.
[ Leadership Track ] Agenda-izing
Doug Olsen, Woodmen Valley Corporation, Colorado Springs, CO ~ Sponsored by UMB
Agenda-izing is all about making meetings for successful and engaging for participants. It has four basic outcomes for participants:
Develop a new perspective regarding the validity of meetings.
Be familiar with the key aspects of planning and running a successful meeting.
Understand the key ingredients in the “agenda-izing” meeting method.
Help identify some of the major pitfalls and problems which are commonly found in a meeting format.
The overall goal is to demonstrate how the use of an agenda is a key goal in meeting these needs. The main components of the agenda-izing exercise are based on an acrostic of the word “agenda” and are listed below:
A – Advanced preparation. The success of agenda-izing your meetings begins with careful preparation. This seminar reviews the who, when, where and what of a successful meeting.
G – Goal tending. Goals must be agenda-ized into your meetings. Three major goals are reviewed under this heading, which include recognizing the importance of goals, how goals are formed, and why goals fail to be achieved, using the model of a shareholders meeting.
E – Event coordination. Agenda-ize your calendar, events, and tasks. This section reviews the actual schedule that precedes and follows a meeting. Often it is what comes before and goes after a meeting that makes it successful and appreciated by the participants.
N – Notations. The notation of key agenda items is the heart of the agenda-izing method. The actual content of agendas are reviewed at this point using a word picture of providing “CPR” to all the participants. It is a model that literally, “breathes life” into a meeting.
D – Debrief. Debriefing meeting items is a critical aspect of the agenda-izing format. This section demonstrates a format and illustrates the importance of meeting follow-up methodologies. It utilizes the three “R” method, which focuses on reviewing items, responding to the mood, and providing resources as needed.
A – Action. The final step in agenda-izing is action. This section goes through the importance of action step to validate any agenda.
[ Technical Track ] Exposing Risk and Discovering Value via Bloomberg Dru Tribble, Senior VP, LLP, Cantor Fitzgerald, Memphis, TN ~ Sponsored by Fitch Solutions
Exposing the imbedded options and risks associated with investments using Bloomberg functions. Using Bloomberg live, we will answer specific questions on agency, agency Callables and CMOs.
[ Technical Track ] What Can I do with Mortgage Assets on my Balance Sheet Steve VanSickler,
President/Principal Consultant, Proactive Risk Mitigation, LLC., Denver, CO ~ Sponsored by Stifel Nicolaus
Understanding the mechanics and benefits of various aspects of Secondary Marketing as it pertains to Mortgage Lending. Whole Loan Sales, Selling Loans with Retention of Servicing and Securitizing Loan Assets for Sale or Swapcan provide great flexibility as it pertains to Mortgage Assets, unlike other Loan Assets, and allow for effective Balance Sheet management concerning higher than average balance loans.
[ Technical Track ] 2009 Credit Union Taxation Update Kevin Fincher, CPA, Partner, Clifton Gunderson, Phoenix, AZ ~ Sponsored by Preferred Benefit Partners Consulting
In this session, you will be provided with an update on current taxation issues affecting credit unions. As federal and state budget deficits continue to rise, the need to generate tax dollars is increasing. This session will begin with a general discussion on the political environment of credit union taxation. The session will continue with topics concerning recent IRS positions regarding the use of losses from certain unrelated business income (UBI) streams to offset other UBI; status of court cases pending; cost allocation planning tips; volunteer and employee taxable fringe benefit taxation.
[ Leadership Track ] Agenda-izing Doug Olsen, Woodmen Valley Corporation, Colorado Springs, CO ~ Sponsored by UMB
Agenda-izing is all about making meetings for successful and engaging for participants. It has four basic outcomes for participants:
Develop a new perspective regarding the validity of meetings.
Be familiar with the key aspects of planning and running a successful meeting.
Understand the key ingredients in the “agenda-izing” meeting method.
Help identify some of the major pitfalls and problems which are commonly found in a meeting format.
The overall goal is to demonstrate how the use of an agenda is a key goal in meeting these needs. The main components of the agenda-izing exercise are based on an acrostic of the word “agenda” and are listed below:
A – Advanced preparation. The success of agenda-izing your meetings begins with careful preparation. This seminar reviews the who, when, where and what of a successful meeting.
G – Goal tending. Goals must be agenda-ized into your meetings. Three major goals are reviewed under this heading, which include recognizing the importance of goals, how goals are formed, and why goals fail to be achieved, using the model of a shareholders meeting.
E – Event coordination. Agenda-ize your calendar, events, and tasks. This section reviews the actual schedule that precedes and follows a meeting. Often it is what comes before and goes after a meeting that makes it successful and appreciated by the participants.
N – Notations. The notation of key agenda items is the heart of the agenda-izing method. The actual content of agendas are reviewed at this point using a word picture of providing “CPR” to all the participants. It is a model that literally, “breathes life” into a meeting.
D – Debrief. Debriefing meeting items is a critical aspect of the agenda-izing format. This section demonstrates a format and illustrates the importance of meeting follow-up methodologies. It utilizes the three “R” method, which focuses on reviewing items, responding to the mood, and providing resources as needed.
A – Action. The final step in agenda-izing is action. This section goes through the importance of action step to validate any agenda.
[ Technical Track ] Exposing Risk and Discovering Value via Bloomberg Dru Tribble, Senior VP, LLP, Cantor Fitzgerald, Memphis, TN ~ Sponsored by Fitch Solutions
Exposing the imbedded options and risks associated with investments using Bloomberg functions. Using Bloomberg live, we will answer specific questions on agency, agency MBS and CMOs.
12:30–
1:30 p.m.
CAFÉ CONVERSATIONS
We've added even more networking time for you this year with our new Cafe Conversations! You'll be able to grab your lunch and join one of four different conversations each facilitated by a CFO Council member. Don't worry if you see more than one conversation that looks interesting to you. It's OK to get up and move between the discussions to hear as much as you'd like.
Topic 1: Merger Strategies for Uncertain Times Facilitator: Tony Molina, CFO, Community Alliance CU, Dearborn, MI ~ Sponsored by McGuire Performance Solutions, Inc.
Topic 2: Implications of Corporate CU bailout Facilitators: Brandon Michaels, CFO, San Francisco Fire CU, San Francisco, CA and
MJ Coon, SVP/CFO, Ent FCU,
Colorado Springs, CO ~ Sponsored by ALM First Financial Advisors, LLC
Topic 4: Income Generators and Expense Reducers Facilitators: Jason Peach, CFO, West Community CU, O'Fallon, MO and Jason Scott, SVP Strategic Initiatives, TruWest CU, Scottsdale, AZ ~ Sponsored by Ceto and Associates
1:45–
2:00 p.m.
UPDATE ON THE COMMUNITY INVESTMENT FUND (CIF) from National Credit Union Foundation
Tom Candell, CPA, Managing Administrative Director, National Credit Union Foundation, Madison, WI
2:00–
3:00 p.m.
SPECIAL GENERAL SESSION
[ Technical Track ] State of the Economy Steve Rick, Sr. Economist, Credit Union National Association (CUNA), Madison, WI ~ Sponsored by Diebold, Inc. and CUNA Strategic Services
The presentation will discuss how the global recession, the housing crisis and the financial system bailout will affect the U.S. economy, U.S. interest rates and ultimately credit union balance sheet and earnings performance. Steve Rick will analyze and establish standards against which your credit union’s own performance can be measured. Mr. Rick will also identify trends of savings and loan activity, and weigh the influence of future economic events on growth patterns out into 2009.
[ Technical Track ] An Update on Health Savings Accounts Kathy Hall, Director of Sales, Members Health Network, Albany, NY ~ Sponsored by Preferred Benefit Partners Consulting
Credit unions of all sizes and the businesses they serve are impacted by the current economic challenges. Now is an ideal time to explore ways to earn additional income and help your members. Health Savings Accounts (HSAs) represent a new growth opportunity for credit unions. With over 6.1 million lives covered by an HSA-eligible plan, and an estimate of over $1.5 billion in HSA deposits growing at banks, credit unions are beginning to recognize this opportunity. HSAs attract new members – both individual and business alike. In order to compete successfully with banks, credit unions must raise our game.
[ Technical Track ] The Rise of the Pay Day Lending Industry: How CUs can Win Back the Business Asa Groves, Regional Manager Business Development, XtraCash, LLC, Lenexa, KS ~ Sponsored by Ceto and Associates
Your membership is going somewhere else for their financial needs. The risk is too great to offer these members traditional credit union products. What is the most beneficial model to serve both the needs of these members without losing profits? An exploration into the pay day lending industry; separating facts from fiction; options your members face and what you can do about it.
[ Technical Track ] Liquidity Management: How Much is Enough, Where to Find More and How Much Will it Cost? Steve Cibull, VP – Relationship Manager, FHLB, San Francisco, San Francisco, CA ~ Sponsored by TMG Financial Services
Gain an understanding of what sources of liquidity are available to credit unions, if the funding will remain available in a crisis, and at what cost. Also find out how the regulators will react if you utilize these additional funding sources for asset growth and asset-liability management.
[ Leadership Track ] Are You Seen as the Leader You Want to Be? Developing Leadership Presence Deedee Myers, President, DDJ Myers, Phoenix, AZ ~ Sponsored by PSCU Financial Services, Inc.
Do you aspire to be more effective in your current role? In the community? Or to be CEO of your own credit union? With many CEO positions being filled by CFOs this is an ideal time to pay attention to how you are seen as leader. Education systems and training classes typically do not teach leadership presence; yet, it is teachable. Research by executive recruiters state that the number one reason CFOs do not “get the CEO job” is due to the lack of leadership qualities. What does this mean? This session introduces practices to assess your own leadership presence and style and a path to create your own leadership development plan.
Three key points
The three pillars of leadership.
Introduction to language of leadership
Importance of integrity and physical comportment
Three tangible
Resource guide for linguistics and leadership
Questions to ask others to receive feedback on your leadership style
[ Technical Track ] MINI WORKSHOP Wake up and Smell the Money! Earnings Improvement Opportunities with ABC and Product Profitability Management
Mike Kohl, President/CEO, Kohl Advisory Group, Scottsdale, AZ
All attendees at this session will receive a free copy of the book
2008 Product Cost Summary, by Kohl Advisory Group. Based on 20 actual credit unions evaluated by Kohl Advisory Group in late 2007 through 2008, this highly informative (75 page) book provides cost average that together build the total direct operating cost for 13 common loan types and six classifications of shares. There are also 14 types of transaction costs provided that can materially assist credit unions that are developing member profitability with an in-house MCIF.
[ Leadership Track ] MINI WORKSHOP Dealing with Difficult People: Taming the Monster
Doug Olsen, Woodmen Valley Corporation, Colorado Springs, CO
Dealing with Difficult People addresses an area that every corporation deals with…dealing with difficult people. It has three main objectives:
To understand the three categories of difficult individuals:
Difficult people – people you work with
Difficult employees – people who work for you
Difficult bosses – people you work for
To gain strategic information in how to deal with each category
To be given the opportunity to interact with other participants in discussing practical applications of these intervention strategies.
The seminar is divided into three sections dealing with the three categories of difficult people, employees and bosses. Each section offers specific strategies to assist in overcoming the difficulty involved with each category. A brief outline of the major contents is as follows:
People – This section offers four options including
Hope it will change
Scope the situation out
Cope with the problem
Approach the individual and seek resolution
Employees – This section offers the top ten list of intervening with people you work with, along with a three step process (the A,B,C's of intervention)
Employers – This section offers a variety of intervention strategies as to why “they do what they do” and how you can “handle your boss”
These are challenging times! As a competitive former college basketball coach and as a competitive current stand alone businessman I have experienced many challenges and one by one I have come out the other end with quantifiable better results than the circumstance I inherited.
Here are a few examples of the types of challenges I have faced and the end results:
As a college basketball coach I took over three college basketball programs that had won only 34% of their games the season before I arrived. In my final season at these same three universities we won 64% of our games.
As a professional salesman, I worked for 6 years for a manufacturing company that had sales of $46,000,000.00 as I arrived. Six years later our sales team grew that business to $92,000,000.00.
I started my own company in 1999. Nine years later we are growing in an economy that many have described as being in a coming recession. We are enjoying our best sales year ever!
So the obvious question is how have we overcome these negative odds in radically different markets?
The learning outputs revolve around 5 basic fundamentals of individual and team leadership strategies:
Step 1: Re-Create the Vision
Coach John McClendon had a vision based on his hope for the possibilities of integration in Durham , NC in 1944. Is your vision about people or profits? Are you effectively driving that vision? Are you effectively promoting your safe and sound business/financial practices?
Step 2: Recruit the Best from Top to Bottom
John Wooden, who won 11 college national basketball championships, put it this way, “No matter how you determine total success in the coaching profession, it all comes down to one factor- Talent! Although not every coach can win with talent, no coach can win without it.”
Step 3: Be Clear About Your Expectations
During WWII General Dwight D. Eisenhower was contacted by General George Marshall. Eisenhower was informed that he would take over the command of the allied forces in London in WWII. His orders were clear:
1. Proceed to London
2. Invade Europe
3. Defeat the Germans
The mission was: CLEAR, ATTAINABLE, DECISIVE, and SPECIFIC!!!
Step 4: Play to Your Strengths
I often see business leaders who establish their strategic plans based on the tactics it will take to beat the competition. Real coaches understand that the entire game plan should revolve around individual and collective talents which they possess as a team. Talent combined with real coaching wins games, PERIOD!
Step 5: Keep it Simple!
Amish farms are the most profitable farms in America according to a study by Ohio State University in 2002. They keep it simple with the use of tried a true tools and they even use simple technology to drive efficiency and profitability. Do you go the extra mile to plan and prepare to address your customer's specific needs? Do you insure profitability through the simple use of technology? The Amish do and there collective business success can be a powerful reminder to all of us that the old ways still work!
