Plansmith Blog

Stop Budgeting and Start Planning

Posted by Craig Hartman on 1/17/20 9:16 AM

Most of us have been building annual budgets forever. First on paper spreadsheets, then with electronic spreadsheet like Excel, and now with software budgeting tools that amount to little more than more convenient spreadsheets. But a budget is typically all numeric built with trending and last year’s information. Usually the CEO provides a growth and earnings expectation and we build the budget to make the math work. If you have a system that can also provide rate risk analysis and draw detailed data from your core system, you really have a great system. So, what’s the problem?

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Turn Your Budget into Action

Posted by Bill Smith on 1/9/20 11:05 AM

A budget without a Playbook is just numbers on a page.

You know what your targets are but you also need to define how you will get there.  A Playbook defines the actions needed for success, and the people who will manage the process.

But many managers say they just don’t have the time or resources.

Plansmith’s Playbook is a simple online platform to help you create clearly defined initiatives, track progress, and reach your targets by creating an action plan for your budget.

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Compass 2-Day Event: What to Expect if You Attend!

Posted by Jennifer Mello on 12/2/19 8:43 AM

Technology is a beautiful thing. It allows people to seamlessly engage in business interactions from thousands of miles away. It helps strangers grow real, meaningful relationships. It bolsters professionalism and deepens client/company relations.

However, we find it can leave you feeling like something’s missing.

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One Less Thing to Worry About

Posted by Megan Plis Knapp on 10/9/19 4:59 PM

After almost 50 years in the biz, we've learned a thing or two about banking. And since most of our employees have spent time in the industry, we know the heavy hitters that keep bankers up at night.

That's why we designed our business around one specific goal: giving our clients one less thing to worry about.

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We've Walked in Your Shoes

Posted by Megan Plis Knapp on 9/20/19 2:35 PM

Running a successful business, like anything worthwhile in life, is difficult. Of course, the same can be said for operating a bank or credit union.

There's never enough time in a day to get everything done. The amount of work per number of hands to accomplish it isn't equitable. The number of new regulations versus training bandwidth is not even close to on par.

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Compass 2-Day Event: September 2018

Posted by Jennifer Mello on 10/1/18 10:59 AM

"It was a very informative two days. It was also helpful to learn different ways to navigate through the tabs and fields in the Compass program."
 

We had nine bankers in our office last Thursday and Friday attending our first 2-day event, and what a success it was! We had a great group ranging from new clients, new users, and more established veterans, banks from $240 MM to $1.6 B in assets, men and women from diverse backgrounds, traveling in from near and far. The group was excited to share thoughts and ideas, and interested in ways we can help them enhance their understanding of the planning concepts and models.

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Planning for Change: A Lesson from Charles Darwin

Posted by Bill Peck on 9/14/18 12:33 PM

“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”

- (Not) Charles Darwin

It’s true.

Although this is a pretty great quote, Darwin never actually said it. It was an attempt by Dr. Leon C. Megginson, Louisiana State University Professor of Management and Marketing, to capture the essence of Darwin’s seminal “On the Origin of Species” for a 1963 speech to the Southwestern Social Science Association. The text of the speech was subsequently published in the Association’s quarterly journal, and the rest is quote-misattribution history.

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15 Ways an Outside Facilitator Can Save Your Next Strategic Planning Session

Posted by Kevin Stang on 7/24/18 3:01 PM

We’ve all been in meetings that weren’t exactly productive. You know how it goes…

  • The meeting begins with little to no agenda
  • You waste most of the time discussing off-topic subjects
  • Debates over seemingly meaningless items end up derailing progress
  • Someone ends up creating more questions than solutions
  • The meeting takes an hour longer than it was scheduled for
  • The team walks away with no clue what to do next
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5 Simple Tweaks to Build a Better Strategic Plan

Posted by Megan Plis Knapp on 7/20/18 3:23 PM

Only part of a successful strategic plan lies in the plan itself. A good plan, just like a recipe, is important. But any good chef will tell you, choosing the right ingredients is only half the challenge. The rest lies in executing the recipe properly.

So, how can your bank or credit union make a better strategic plan?

Here are some simple tweaks to the ingredients and execution of your strategic planning recipe.

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The Most Important Variance – Where You Will Be

Posted by Craig Hartman on 6/25/18 2:58 PM

I was playing golf the other day and, of course, while I’m playing I’m thinking about work, which is a bad idea since I should be concentrating on my game. But I’m always thinking about ways to make planning more effective. My thoughts today were on variance analysis. Everyone uses variance analyses in their board reports to check progress against plan and it is certainly a good check. At board meetings we review our current position relative to last month, year-to-date and last year-to-date, etc.

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