Successful Strategy Takes Year Long Focus

Strategic planning. Those two words are usually said far more often in the third and fourth quarters than in January. But as we start the New Year, your strategy should be front and center.

As we routinely tell our clients, “Strategic planning is a process, not a date on a calendar.” Harvard Business School Professor Clayton Christensen adds, “Most people think of strategy as an event, but that’s not the way the world works.”

Strategic plans themselves can be too long, filled with too much data and have too many initiatives. However, simple beats complex.

One thing that help credit unions keep their strategy focused is a planning rhythm. In other words, your plan needs flow. Dare I say, your strategy needs feng shui (or system and flow).

Below is a way for your credit union to ensure your strategy is year-long. It breaks down your strategic plan into a yearly, quarterly, monthly and weekly system.

Yearly Planning Session

Obviously, your cycle starts with a yearly planning session. Even if your plan is for three, four or five years, you must pause every year to conduct a planning session. Each year can look different; so you must plan yearly.

As management consultant Peter Drucker once said, "Strategy is a commodity, execution is an art." Your yearly planning session should be a deep dive into organizational possibilities. Break down those long-term objectives into bite-sized, executable components that actually mean something. What does success look like? It's not about creating a massive document that will collect dust. It's about crafting a living, breathing roadmap for the entire credit union.

Here are some key focus areas:

Analyze market trends with a critical eye;
Examine member needs beyond surface-level insights;
Identify technological shifts that could disrupt (or elevate) your credit union;
Determine north star metrics that inspire and align your entire team; and
Create strategic initiatives to accomplish your goals.

"In the business world, the rearview mirror is always clearer than the windshield," warns Warren Buffett. The goal? A strategic framework that's both ambitious and adaptable. Think flexible, not fragile. Your plan should be a dynamic blueprint that can pivot when the market zigs and zags.

Quarterly Sprints

Quarterly sprints are your strategic checkpoint – think of them as your credit union's pulse check. You can do these yourself or have your strategic planning partner facilitate a more accountable discussion.

As Amazon's Jeff Bezos notes, "If you're good at course correcting, being wrong may be less costly than you think." This isn't about endless meetings or drowning in spreadsheets. It's about rapid, meaningful assessment. How are we tracking against our annual goals? Where do we need to adjust? These sessions are your opportunity to transform data into decisive action.

One tool we use is asking the question, “What should we stop, speed up, slow down or stay the course?”

Here are some quarterly sprint focus areas:

Answer the above question (stop, speed up, slow down orstay the course);
Analyze key performance indicators;
Gather real member feedback;
Make informed, swift adjustments; and
Create cross-functional teams to tackle challenges or gaps.

The most successful credit unions don't just react – they anticipate. These quarterly sprints keep you proactive, aligned and moving with purpose.

Monthly Goals and KPIs

Monthly goal-setting isn't a chore – it's part of your strategic rhythm. If you have yearly financial goals (ROA, loan growth, new members, etc.), what are you going to do this month to move the ball closer to these metrics?

"What gets measured gets managed," as management guru Peter Drucker famously stated. Think of each month as a strategic building block. Your key performance indicators (KPIs) aren't just numbers – they're storytellers. They reveal where you're crushing it and where you need to level up.

Here are some monthly focus areas:

Develop crystal-clear, measurable objectives;
Tie every goal directly to quarterly and annual strategies;
Make KPIs transparent and engaging (for example, a dashboard for the entire credit union staff);
Celebrate wins, candidly discuss challenges (using a gain/gap methodology); and
Create immediate, meaningful adjustments.

Weekly All Staff Reminders and Focus

Weekly check-ins are the heartbeat of a truly dynamic strategy. Employees must see the connection from their day-to-day job to the credit union’s overall plan and goals.

General Electric's Jack Welch once said, "Good business leaders create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion." In other words, it’s all about the follow-up. These weekly check-ins aren't time-wasters. They're rapid, focused sessions that keep your entire credit union aligned and energized. Communication is key – but make it meaningful, not monotonous.

Here are some weekly strategic focus areas:

Communicate a clear, concise focus;
Connect individual efforts to broader objectives;
Create a transparent communication rhythm;
Encourage open, innovative dialogue; and
Maintain a culture of accountability and celebration.

"Culture eats strategy for breakfast," is a famous quote. It’s also very true. Credit union leaders must transform strategic planning from a top-down directive to a collaborative, organic process that keeps everyone moving forward.

One of my coaches recently told me, “Strategy strengthens activity.” It’s also true that activity strengthens strategy. Growth takes both strategy and action. Having a planning rhythm (yearly planning to quarterly sprints to monthly goals/KPIs to weekly reminders) ensures the credit union’s strategy is aligned.

Mark Arnold is founder and president of On the Mark Strategies, a Dallas, Texas-based consulting firm specializing in branding and strategic planning for credit unions.

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