We are in an exciting time of disruptive change. Now more than ever before, Credit Unions lead the way with exceptional service for members, fulfilling important roles in communities and changing regulation for the benefit of everyone. As busy Credit Union leaders we know we don’t have time to do everything, only time to do what matters.
What matters in your Credit Union?
We focus on serving our members and our communities and to allow us to do that we need to get things done so we can get on with it. Time management is out the window. The old way of managing time doesn’t work any longer and instead of managing time, we need to Fold Time™.
Folding Time™ is about achieving twice as much in half the time. In our book by the same name, we share specific strategies that every leader can implement in their personal and professional life.
To continue to grow our credit unions we need to be the CEO: Chief EXECUTION Officer.
To continue grow the business, serve our members and focus on strategy, we need a constant mindset of execution. It’s easy to be busy; busy is not productive.
Productivity requires implementation and execution.
The word execute means to ‘carry out or to perform’ and it derives from Latin exsequi, “carry out, follow up; punish.” As Credit Union leaders we need build teams with strong reputations for member follow up and team performance.
Here are 5 strategies to accelerate productivity and build your reputation as the leader who executes:
15-minute rule – what can you achieve in 15 minutes that will get you closer to the achievement of your Credit Union’s goals?
Consider focusing on completion of actions for 15 minutes i.e. complete an email blitz, host a 1:1 with one of your leaders, host a standing meeting (yes make everyone stand up), limit business calls to 15 minutes and reach out into your community about potential partnerships.
People feel they don’t have an hour anymore; the key is to take action in 15-minute increments. Can you encourage your team to begin approaching projects, meetings and completion in 15-minute increments? Suggest the business development team host 15-minute tele-coffees with potential members. A tele-coffee is where you make coffee and your potential member makes a coffee and you chat on the telephone. Great productive meeting! Encourage the Board members to look at meetings in 15-minute increments. Suggest supervisors invest 15 minutes each week in additional training for the team to explore professional development opportunities.
Change the way you view time. Instead of thinking in 30 and 60-minute increments, reduce the time to 15 minutes.
It’s the art of compressing time. Consider if you have 2 weeks to make a decision, how long does it take you? 2 weeks right. If you have 2 minutes to make a decision, it takes you 2 minutes… can we compress activities into 15-minute increments?
Cancel meetings – yes you read this right! If you are holding meetings because you have the same meeting week after week, consider changing routine! Unless you have a strong agenda and a reason to invest everyone’s time, cancel your meeting. If you can’t cancel the meeting, can you reduce the meeting time by half? Complete an experiment, for your next meeting halve the time and encourage the team to stick to the agenda closely. Meetings are an important part of every organization however invest time this month to determine if all the meeting you are hosting are operating effectively, is an agenda being followed, are actions being agreed and implemented as a result of the meetings. Are we moving the business forward?
Pay attention – one of the greatest gifts you can give your team is your undivided attention. As busy Credit Union leaders it is easy to frustrate the team if you are constantly distracted by meetings, email and not focused on conversations. Distraction is perceived as disrespectful. Investing your attention, looking members and your team in the eye when you communicate with them will achieve more – put down your smartphone and encourage your team to do the same.
Choose three strategies – focus your attention on your top three deliverables. Your to-do list is always growing and your email keeps coming. If we just focused on activities we wouldn’t be productive, we’d just be busy. True leaders know they need to prioritize on the highest impact objectives. Three is the magic number and allows people to retain focus. Make sure your strategies are repeatable (others can share them throughout the organization), relatable (others understand how it affects them) and recognizable (others can see the impact of those strategies). As a leader your role is to focus on strategies you can execute!
Disconnect – take regular breaks from technology, remove yourself from your email and the minutia that is draining your focus and energy. As the leader invest in the contextual deliverables, the big picture, the strategy – that’s it! Leave the details to those around you to execute. Clarity and vision are often created when you step away from the everyday operations and allow yourself to brainstorm how we can do things differently; how we can continually disrupt the way we have always done things. Look to leaders right now who are brilliant examples of disruption: Elon Musk of Tesla and SpaceX totally transformed the car industry. His vision, determination and focus have provided an alternative to an industry that desperately needed change.
As 21st Century Credit Union Leaders, we need to drive this industry by focusing on the things that truly matter that requires execution. What can you do with your team this week that will move the business forward, serve our members and contribute to our community?
To increase the productivity of your team, lead by example, and allow others to step into their brilliance by empowering them to execute the details of the strategies you create. Now that’s productive!
