Maybe you have a 30 page plan sitting in a binder on a shelf that hasn’t been looked at since that retreat three years ago.

Maybe you have a clear plan in your head that no one else could articulate. Maybe you’ve never done a planning session. Or maybe you’re just too busy responding to Dodd-Frank, Reg E, Reg Q, etc. to have scheduled your 2011 planning session.

Here are the Top 10 Reasons You Might Need a New Strategic Plan:                     

1. You are too busy to schedule a planning session.
2. You haven’t factored in the change in fee income or the Repeal of Reg Q into your strategic plans.
3. You have concerns about the long-term viability of your business model.
4. Your growth or profitability has stalled. 
5. Every employee can’t articulate your institution’s three most important initiatives for 2011.
6. You spend more time managing people than building the business.
7. You have a budget and capital plan but no strategic plan that ties them together.
8. You feel like you spend most of your time responding to challenges instead of creating opportunities.
9. Your examiners, auditors or advisors recommended one.
10. You read Good to Great and aren’t sure what your Purpose, BHAG or Hedgehog are.

If you think you might need a new strategic plan or planning process, see our strategic planning services overview, strategic planning services for banks, or strategic planning services for credit unions.