| HOW DO YOU THINK 'OUT OF THE BANKING BOX'? |
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The Headache: Bankers frequently steep in their own business thinking. They talk to other bankers, read banking publications, and attend banking conferences. Banking, banking, banking. Our Question: Where do you go to seek out fresh ideas, so you can think "out of the banking box"? Come see what other bankers think, and add your own views * * * Where do you go for "out of the banking box" ideas? Bankers go to an awful lot of banking conferences. They can read banking publications by the truckload, and spend weeks reviewing banking websites. They can talk to bankers under their own company roofs, or they can pick up a phone to talk to a banker about common problems, either one down the street or across the country. But sometimes you need fresh perspective, fresh blood. In other words, something from outside of the banking sphere. Sometimes this just helps because you find confirmation that there are lots of problems out there in other industries just like your own. (People are people everywhere.) But sometimes you discover a solution that no one in banking ever thought of, but that's standard practice in some other industry. Below is a sampling of what we've heard so far from community bankers who have found ways to refresh and reboot their thinking. Add your own ideas and suggestions. And if you would like to join our regular list of "prescribers," to whom we send questions, please email
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Dorothy Savarese, president and CEO, Cape Cod Five Cents Savings Bank, $2.1 billion-assets, Orleans, Mass.
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I have found that my outside, volunteer board work--which I feel I must do as a community banker, because of our mission and role in our service area--has helped me to be a better banker. As a bonus, it's rewarding. I love giving back to our community. What makes the large time commitment even more worthwhile are the new ideas and problem-solving approaches that I am exposed to by working closely with capable professionals from a range of disciplines and industries. The work has helped hone my listening skills. I love working together with fellow board members and making better decisions. I have witnessed boards come up with innovative solutions to pressing issues that go beyond the members' respective industries and narrowly defined, functional expertise. The common thread is strong leadership combined with an ability to listen, learn, and bounce ideas around. My board work feels like an extension of my MBA. It has given me a "rich library" of ideas and new ways of thinking and approaching problems, allowing me to unleash my full potential by looking at banking problems in a more creative light. |
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| An understanding of the various facets of management and characteristics of individuals has proven to be a tremendous asset to me in dealing with employees and customers. To help with that, I'm a constant reader of management and leadership materials from a number of sources: "Leadership Strategies" and other periodicals; short, easy-to-read material from www.walkthetalk.com; textbooks; and various applications for my iPad, which are found through the app store. | |
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One of the most important ingredients to success in a bank is the "Culture of Care" that leadership creates for team members, customers, and shareholders. For this reason, I read books that focus on strong team- and customer-centric organizations. Three examples: The Four Obsessions of an Extraordinary Executive (Patrick Lencioni); Leadership and Self Deception (Arbinger Institute); and Built to Serve (Dan J. Sanders). I would recommend all three of these books to anyone serving in a leadership position. |
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I subscribe to electronic versions of trade publications aimed at CFOs, retailers, and entrepreneurs, in general. I quickly scan them for new ideas. They give me a range of topics to discuss with clients and prospects. And often, I am able to add value to my clients by providing information about their industries that they may not have known. Even if they did, they now know their banker is engaged in the relationship. Here is a sample of what I subscribe to: American Express Open Forum (Web-based business resource); the local business journal; "SmartBrief for CFOs" and "SmartBrief for Retail" (online news aggregators); and "Springwise" for entrepreneurs (online news aggregator). |
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