Luiz Zorzella explains why non-strategic projects can be a distraction that get in the way of real strategic work and what you can do about it.
When companies define their strategic priorities, it is common to include in this list items that are not building blocks of the company’s strategic goals. At least directly.
Some of these items are extraneous, pet projects and/or impositions from third-party actors or the result of internal politics and accommodations and at best do not add any value and at worst hinder the strategic agenda.
However, there is another type of priority which, if properly managed, can help you break into a vault full of riches that are unreachable to you right now.
Points covered in this article include:
- Three categories of items
- How to prioritize and implement items
Read the full article, Break into the Strategic Treasure Vault, on the Amquant website.
Many financial service leaders are not convinced that total market growth is important. Luiz Zorzella explains why even small companies can benefit from paying attention to and capitalizing on what is happening to the market.
You may have heard – or asked – questions such as:
“If our company does not hold a large market share in our markets, should we worry about market growth?”
“How would we even estimate market growth?”
“If most of our existing clients are in not in growth markets, should we abandon them and go after new ones?”
Those are very valid questions:
In most markets, companies with single-digit market shares feel no significant impact of market saturation (that feeling that you have exhausted all good leads). That means that as a general rule, regardless of whether the market is expanding or contracting, there is always an abundant supply of fresh, good prospects to be chased.
Areas explored include:
-Growing markets have growing needs. For example, your commercial clients will be investing to expand capacity and may need CRE and equipment loans to open new locations.
-Growing markets have more sophisticated needs. For example, companies in growing markets often need more attractive Group Benefits to attract talent and ward off poachers.
-Growing markets tend to supply better clients. For example, credit quality tends to be good and to improve over time in growing markets – thus not only improving the quality and value of your portfolio but also freeing up capital to invest in growth.
-Growing markets will carry you. This is because your existing clients, who have a lower acquisition cost than new clients, will continue to grow.
Read the full article, The Eternal Hunt for Growth in Financial Services, on the Amquant website.
Luiz Zorzella moves beyond the buzzwords to explain how a razor-sharp vision, strategy, and plan inspires buy-in and achieves results.
If your organization is not delivering the results you expected, maybe one factor holding it back is a lack of razor-sharp precision.
Most business leaders would benefit from sharpening their strategies: employing more clear language (calling a sword a sword), more accurately defining strategic priorities and objectives. But few actually do it. For example, most financial services companies profess to be “client-centric”, but very few actually explain what that looks like. And if you survey the organization and ask how this principle of “being client-centric” applies to practical matters, you will obtain very different answers.
Read the full article, Your Business Needs Razor-Sharp Precision, on the Amquant website.