Message from CEO
Read the latest performance tip from Chris Bledsoe, also featured in our Thinkbank monthly newsletter. For more tips, subscribe now or click to view previous CEO messages.
The Outlook for 2012 |
January 2012 |
With 2012’s first month almost ready for the “done” file, what’s the outlook for the rest of the year?
Expect more of the same. By announcing it won’t raise short-term rates until late 2014, the Fed is telling us we’re in for a slow long climb out of the darkness – and there’s little to no help from the housing sector, the usual go-to “recession buster”. Of course, some areas are worse off than others, and there are bright spots. Rural areas, for example, especially those with agriculture based economies, and ones involved with gas and oil production.
The reports of a rising trend in business lending by banks for Q4 are another positive note. If it keeps up, economists say small businesses can contribute strongly to growth this year. This is where community banks can shine, so it’s important to know the niches you can capitalize on in your locale. Regulations don’t make lending any easier, but they’re here to stay. That reality is simply not going to change. Banks need to adjust accordingly.
What does change, on a daily basis it seems, is the situation with Europe’s sovereign debt crisis. If you haven’t read Boomerang by Michael Lewis (last month’s book suggestion), I urge you to pick it up. It’s a quick read, and a good education about the EU’s effect on the rest of the world. Including those of us on Main Street USA.
So, at a time when our economic outlook is not the best, and weak or bleak at worst, what can we be doing in 2012 to make a difference in performance? I’m encouraging you to become an entrepreneurial banker. Entrepreneurs are determined, yet open minded. They are persistent, yet optimistic. Entrepreneurial bankers are the same way. They’re not afraid to take different approaches to running the bank. They’re looking forward, not back at the way things have always been done.
I think we see this trait in all good leaders. It’s about having new ideas and being confident in your vision. If you can share that vision with your team, strategically and enthusiastically, you’re halfway to the finish line. Then all you have to do is let them know how they can help the bank, give them the right tools to work with, and hold them accountable for their results.
We want to help you make the transition to being an entrepreneurial banking in our 2012 Webinar series. Our first event is in February…Why and How to be an Entrepreneurial Banker. See you there.
Think positive.
