Innovation Driven Growth

Converting an unused space into a “Thinking Room” will add great value to your business. This is an inexpensive strategy for increasing innovation and creativity in your workplace. Create a functional safe space that promotes innovative thinking and get the ideas flowing!

🥳 The Thinking Room is an unused space converted into a place where thinking and creativity can flourish. 01:06
🤩 Check out the Thinking Room David created in FNBB. 02:16
❗ Innovation occurs if failure is an option. 03:44
❔ What's stopping you from creating a similar thinking room in your organization? 04:47
🤗 People need to have a safe space to ideate. 05:35

Links:

 The Thinking Room: www.bankers-bank.com/the-thinking-room-is-ready-for-ideas

 Email David: [email protected]  

 Connect with David: www.linkedin.com/in/dlpspeaks

 Learn more about David: www.davidpeterson.com

 Consult with David: www.i7strategies.com

 Sail with David: www.i7sailing.com

Investing in new technology is a complicated process that requires expert strategy. No matter what industry you are in, investing in new technological systems can be a time-consuming and overwhelming experience. With so many vendors competing for your business, it’s important to do a full review of their products to see exactly how they will work for your needs. Remember that strategy is key, and these investments will be impacting your business for years to come, so spend your money with specific growth and expectations in mind. Inertia is not a strategy, so review your business’s tech needs today!

🏦 FNBB was in the final stages of deciding on its primary core accounting system: David shares the decision-making technologies they used. 00:56
📋 Practical summarized steps for making the decision: months and months were needed to evaluate different core vendors. 02:08
⚠️ The issues that FIs face when they make tech purchases. 04:34
✅ Set realistic expectations, prioritize proven integrations and ease of configuration, beef up your internal IT capabilities & tie your FinTech spending to expected outcomes. 07:34
📱 If you want more mobile users, invest in a better mobile platform. 10:41
💸 Create a way to monitor the tech roadmap each quarter, don't just buy it and forget it. 11:43
❗ Just because many of the newer technologies are not fully baked or standardized is not a reason to avoid them. 12:42
🤝 David has a recommendation for bringing in additional resources that can help you sort everything out. 14:06

 Links:

 It’s Dreadful Being a Buyer of Bank Technology: the Cornerstone article by Steve Williams

 Contact for Profit Resources, Inc: Dave Koto at [email protected] 

 Email David: [email protected]  

 Connect with David: www.linkedin.com/in/dlpspeaks

 Learn more about David: www.davidpeterson.com

 Consult with David: www.i7strategies.com

 Sail with David: www.i7sailing.com

Employ modern digital marketing techniques to ensure your advertising budget reaches your target audience. Banking is a highly competitive industry, so banks must aggressively pursue new customers with great precision. 

It’s time to revisit your marketing budgets and allocate funds toward targeting the new generation of prospective customers in the digital world. Utilizing services and marketing strategies that find and target new customers with engaging story-based media and curated articles is the key to modern advertising.

Spend your money wisely in the places your future customers are reading and listening!

🏦 Today's financial institutions are in a very competitive environment, but is your marketing money being targeted adequately? 00:52
📻 Many FI’s do advertising through “advocacy”: the typical nonadvocacy advertising activities are billboards, bus stops, benches, or other types of signage - newspaper, radio, television, direct mail, email, and social media. 02:30
📱 Digital tools access data and target information to those most likely to seek it. 04:14
🙂 Curated articles and storytelling evoke a strong response: Millennials and Gen Z are motivated by emotion. 06:15
✅ You can hire professional writers that work across various areas of expertise: the response rate is significantly higher than traditional advertising. 09:01
🎯 Spend advertising dollars on the specific areas where potential clients will be reading and listening. 11:11

Links:

 Email David: [email protected]   

 Connect with David: www.linkedin.com/in/dlpspeaks 

 Learn more about David: www.davidpeterson.com 

 Consult with David: www.i7strategies.com 

 Sail with David: www.i7sailing.com 

It’s time to change public opinion on the role of a banker. It’s no secret that the role of bankers is largely underappreciated and seen as an unexciting career. The truth is that bankers perform an essential service for people and their businesses. We can work to shift the paradigm by highlighting the importance of banking in our business language and shamelessly recognizing ourselves as facilitators of hopes and dreams. Emphasize your value and help change the narrative on banking!

🏦 The general public doesn't appreciate bankers: a little thought exercise for bankers or similarly undervalued positions. 00:57
🔶 Financial institutions can change a stale narrative: bankers assist with achieving people's goals and dreams. 03:41
✅ Behind each & every transaction is a goal or a dream: there are numerous ways that bankers assist consumers, businesses, and nonprofits in the area they serve. 06:46
💡 What if your Facebook posts start to highlight stories of customers who achieved a goal or a dream with the assistance of your organization? 09:18
🎉 Over time, we can have more informational and interesting conversations at parties. 10:33

Links:

 Email David: [email protected]   

 Connect with David: www.linkedin.com/in/dlpspeaks 

 Learn more about David: www.davidpeterson.com 

 Consult with David: www.i7strategies.com 

 Sail with David: www.i7sailing.com 

You must ensure that you are adequately protected from hackers and data breaches. In the digital age, your company must have the plan to deal with cyberattacks. Working with an insurance carrier that offers coverage that is right for you is vital, and be sure to follow their protection plans carefully. Getting your employees trained and ready to handle the preparation and aftermath of a potential attack is also crucial. Ensure your business is sufficiently protected for your business and your client’s sake.

📋 Insurance carriers should provide instructions regarding the protective elements you need to follow for your insurance coverage to be considered “active”. 02:57
✅ You should regularly drill on the Incident Response Plan the same way as you do for a robbery or disaster: there're many elements you should have if a breach occurs. 04:35
👉 The type of insurance you purchase is as critical as the policy limits. 09:05
❗ It can affect your institution or customers if your "dependent vendor" is breached: do you have the right insurance partner? 10:00

 Links:

 Book Grounded: https://davidpeterson.com/bookstore

 Email David: [email protected]  

 Connect with David: www.linkedin.com/in/dlpspeaks

 Learn more about David: www.davidpeterson.com

 Consult with David: www.i7strategies.com

 Sail with David: www.i7sailing.com

Resistance is a formidable opponent to your business, but you can fight back. Resistance is that barrier to all innovation and creativity within your business, it is strengthened by fear and it wants for us to stagnate and do nothing. The key to overcoming this aggressive force is professional-grade virtues like persistence, patience, and a strong dedication to doing the hard work. 

We can climb the mountain of resistance and make gains in innovation within our business by ensuring that progressional attitudes are adopted and encouraged at all levels of our organization. You can’t afford to stagnate, so take the professional approach and make innovation an essential part of your business.

Show Notes: 
💪 What the professional does that the amateur cannot do, is effectively battle and win against resistance. 00:08
✅ Resistance is invisible, internal, insidious, implacable, impersonal, infallible, and universal, it never sleeps, seeks to kill, and it's most powerful at the finish line: fear is fuel for resistance but also a barometer for us of what is worth pursuing. 02:44
👉 Our goals of creativity and innovation cannot be avocation - it must be our vocation: attributes of a professional and advice on how to go pro. 06:32
🎯 Fear of success can be greater than fear of failure: in a moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing. 09:19

Links:

📮 Email David: [email protected]   

🎯 Connect with David: www.linkedin.com/in/dlpspeaks 

🌟 Learn more about David: www.davidpeterson.com 

🍀 Consult with David: www.i7strategies.com 

⛵ Sail with David: www.i7sailing.com 

🥳 The Thinking Room is a place for brainstorming, interaction, and having fun: innovation is creativity expressed, manufactured, and consumed. 00:52
✅ There is no innovation and creativity without failure. 05:14
💡 Innovation starts with creativity, and creativity requires lots and lots of ideas. 08:36
🧑‍💼 Suggestions for senior leaders on how to break barriers and encourage a free flow of ideas. 09:40

Links:

📮 Email David: [email protected]   

🎯 Connect with David: www.linkedin.com/in/dlpspeaks 

🌟 Learn more about David: www.davidpeterson.com 

🍀 Consult with David: www.i7strategies.com 

⛵ Sail with David: www.i7sailing.com 

🧑‍🔬 A story about a classic failure. 00:59

💡 The weak glue had a commercial value - the birth of the post-it notes. 03:02

✅ Success was born out of failure - the value was unrelated to the original purpose. 07:42

🎯 How willing are you to allow your staff to experience failure? 09:51

🤓 Are you encouraging employees to think of and articulate ideas, even crazy and failed ones? 11:11

🕰️ Your eureka moment might be years down the road. 12:45

 History of 3M’s Post-it-Notes: www.post-it.com/3M/en_US/post-it/contact-us/about-us 

 Email David: [email protected]    

 Connect with David: www.linkedin.com/in/dlpspeaks 

 Learn more about David: www.davidpeterson.com 

 Consult with David: www.i7strategies.com 

 Sail with David: www.i7sailing.com 

❗ Innovation eludes organization when: we are too busy, thinking is not valued, there's resistance to change, and it requires effort. 00:52
✅ We let artificial constructs about innovation limit our creativity: tackle bite-sized innovations and ideas: how employees can help. 02:45
✌️ Two ways to deal with inquisition: encourage employees to be inquisitive. 07:19
⏳ Save time by eliminating unneeded steps: how to take a fresh look at your processes and procedures.  11:37
💥 Encourage everyone to look for innovations & see the impact they can have on the gross margin.  13:15
Links:

📩 Email David: [email protected]   

 ✨ Connect with David: www.linkedin.com/in/dlpspeaks 

 ✅ Learn more about David: www.davidpeterson.com 

 🤝 Consult with David: www.i7strategies.com 

 ⛵ Sail with David: www.i7sailing.com 

💡 Creativity sparks innovation & play promotes creativity. 01:10
👦 A good start is to remove barriers to fun: we learn when we have experiences that confound our expectations. 03:50
🎮 Some fun ideas: gamification of service, a big wheel for interest rates, play area for kids. 06:10
👌 Encourage strategic and innovative thinking, model the value of a cross-function team & do something fun: Quarto tournament is a great choice! 07:11
❗ The results - we are in charge of how we conduct our moves. 11:46

📖 Wonderland by Steven Johnson: www.fs.blog/value-play-driver-innovation 

 🧩 Quarto: www.amazon.com/Gigamic-5201-Quarto/dp/B0019O198I 

 📩 Email David: [email protected]     

 🌟 Connect with David: www.linkedin.com/in/dlpspeaks 

 ✅ Learn more about David: www.davidpeterson.com 

 👨‍💼 Consult with David: www.i7strategies.com 

⛵  Sail with David: www.i7sailing.com