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600 New Ideas to Improve Bank and Credit Union Products & Services


By Jason Sherrill on Friday, August 20, 2010


Today Seth Godin shared a good idea that could have a profound impact on any bank, credit union or other type of business. It would take little effort, maybe a few minutes each day, Monday through Friday. The idea costs nothing to implement (except a few minutes of time each day) and is so easy that everyone in an organization could participate.

Seth discusses making an effort to find inspiration rather than waiting for it to come knocking on your door. He closed the post with this suggestion:

Simple example: start a blog and post once a day on how your favorite company can improve its products or its service. Do it every day for a month, one new, actionable idea each and every day. Within a few weeks, you'll notice the change in the way you find, process and ship ideas.

I like the idea, but I’d suggest trying it within your own organization, the one in which you invest eight or more hours of each work day. If you’re a bank or credit union with 30 employees and each employee shares one new idea every weekday, that’s roughly 600 new ideas at the end of a normal month.

Seth suggested using a blog, but you don’t even need to start a blog if you don’t have one. You can use free tools, such as www.tadalist.com, to keep track of all the ideas. If you do have a blog, great, use it. If you're really brave (and actually do plan on executing on some of the ideas), you could post some of your ideas publicly to let customers and business partners provide feedback.

Don’t just focus on customers, either. I’ve seen enormous benefits by making the people who provide services to our company feel important (I don’t like the word vendor or resource, but if that’s your vernacular, then those are the people I’m talking about).

What would the impact be on your customers if you put just 10% of the new ideas into practice over the course of a year? How about the impact on your employees when they see that their ideas and input are valued? What impact might it have on the bottom line? I predict that it would be measurable.

But I also predict that only 10% of your employees would participate for the full 30 days. How valuable is it to know who that top 10% is in your credit union?

P.S. I apologize if you thought you were going to find a list of 600 ideas in this post. We could probably come up with a list of 600 ideas, but they would be far less valuable than a list that people within your own organization who know its culture, its customers and its resources could create.

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