Business<br />
Insights that<br />
drive results

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Business
Insights that
drive results

06/10/2009

The Peter Principle Revisited

I still remember the day in 1968 when the book by Dr. Laurence J. Peter and Raymond Hull hit the bookstores. Its unusual title and controversial subject matter were major news all over America. In his book, business management expert Dr. Peter presented the pitfalls of bureaucracies observed during his extensive research into businesses and…

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06/10/2009

Sales, Loss Leaders, & Financial Institutions

Do you buy anything on sale? Of course you do. Unless you shop the sales circulars like me (Hey, they make that?), you buy an item on sale because of the price. You like getting a good deal for your money. This morning, I heard a radio commercial for a bank that says it has…

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06/09/2009

If Only We’d Written A Better Headline

Several years ago while scanning my daily newspaper, I was stopped dead in my tracks.  “Our checking accounts are no joke” screamed the headline atop the credit union ad staring at me.  I was stunned.  Beneath the headline, my eyes landed on a large illustration of a joker . . . the kind you see…

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06/08/2009

What’s Your Line?

On my morning drive to work, I pass a State Farm agent’s office. There’s a new banner hanging from the eaves above the door that says, “We Sell Life & Health Insurance.” State Farm Insurance became known for its home and auto insurance policies and its advertising focused on the two product lines. Then a…

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06/08/2009

The Return of Banker’s Hours?

Am I the only person who sees the irony in the fact that the in-store bank branches are still perceived by many as keeping banker’s hours?   An excellent example of this perception is my shopping schedule at the local Walmart store.  I’m usually there either early Sunday morning – around 10:00 am – or…

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06/05/2009

Interest rates aren’t important

I thought that might get your attention. Interest rates are only important to the customer because of what they do. Earn them money. When you tell a customer how much they’ll earn, then a rate has meaning.  So instead of saying you’ll earn 4.5% on your high-yield checking account, it’s better to say you’ll earn…

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06/05/2009

Money To Buy Christmas Presents

I walked into my credit union the other day – sans ball cap and sunglasses – and was excited to discover a new brochure in the brochure rack.  I’m not sure how long it had been there, but it was new to me.  Seeing the name of the account at the top and the photograph…

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