Jeffrey Hayzlett

Extraordinary Banking

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22 | Extraordinary Banker | Running the Gauntlet: Understand Your Competition and Rally Your Team to Win Against Them brings out all that is best; it removes all that is base. This to be true for all businesses, no matter how many zeros there are on your bottom line. For the banking industry in particular, there are no excuses for not knowing your competition. If you don't have an enemy, get one, get to know them, and race as fast as possible to get ahead of them. Extraordinary bankers know full well that great business doesn't just come from great ideas. Sure, you need the idea to get the business going, but to play in this game, you need to launch an attack and compete, and to compete you need some form of support. Some critical questions need to be answered. Where is your army? Who is in it? Will they be there on the frontline with you as you prepare to engage in battle? Here's a hard truth: no decree in business ever aligns everyone around it. Prepare yourself for the naysayers and obstructionists, the people who think your way or your idea is the wrong one, even if they don't have an alternative way or idea. It's great to have input from some people some of the time. But in the end, someone has to make a decision, and that decision is best supported from the top. You cannot hope to succeed if your team is not with you and ready. As a leader of our organizations, we need to Understanding the key fundamentals ahead of engaging in battle is vital, and initiating them is just as important. In my recent bestseller, Running the Gauntlet, I cover strategies to "approach your horses from the front." It's about education and leadership. Investing in them in the beginning, being honest and open about your conditions of satisfaction, and during battle. Now you're on the frontline, you have your army behind you; you're preparing yourself for battleā€¦ Who are you . s i n o i t i t e p m o c r u o y o h w w o n k , s d r o w r e h t o n I ? u o y h t i w Mirror Test, I use Snow White as an example; she was more likeable, had a more loyal she lacked to make herself apple-proof was awareness. She had no idea who the Queen really was. You don't have that luxury. I've heard business owners say, "I don't worry about said, "Let us be thankful for the fools. But for them the rest of us could not succeed." A vital weapon in your arsenal to run the business gauntlet is knowing and understanding your competition. So how do banking executives win the race? Finding your feet the momentum that you need to face the gauntlet. Here is my formula for winning the R.A.C.E: Research, Action, Communicate, and Evaluate. Being in business is always going to be a battle, but better to battle the competition than your customers and yourself by thinking you know it all. cut once." Take the time to measure what you truly know with questions. As Mark Twain said, "Let us be thankful for the fools. But for them the rest of us could not succeed."

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