There is a tired, old adage shared among professional golfers that goes, "You can't win a tournament on Thursday, but you can sure lose one." However, it has happened that a PGA touring pro started poorly, finished strong and proved this axiom completely wrong. So while it may not be impossible, it's still not easy to overcome a weak beginning. 

As career bankers hit the reset button, it is paramount not to stumble out of the gate. Professionals in the financial industry do not need another obstacle.

A principle that I have never known to be proven incorrect - a simple but often neglected truth - will guide the next step in this series which is all about reclaiming success as a community banker. Two weeks ago, the obstacle of ego was overcome (Reclaiming the success of a community banker). The importance of pooling customers by similar characteristics was explained last week (Classify thy customers). Now let's examine one more concept before engaging customers and potential customers face-to-face.

P5 - Prior Planning Prevents Poor Performance

There are a multitude of methods used to state this standard. I happen to be very fond of P5 because it provides not only the rule, but the reason behind the tenet. I also happen to believe most challenges can be overcome with an outline and a list of bullet points. P5 has been part of my modus operandi for over 20 years. 

Most successful professionals already understand the basis of P5 and incorporate it into business life, and in personal life as well, right? Why wouldn't they? The first two parts of P5 "Prior" and "Planning" are vital. Again, it's how you start. "Prior Planning" requires study, reflection, analysis, forethought, anticipation of results, scenario testing and other skills that do not come natural. Conclusions are not absolutes and there will not always be only one correct answer. It can be a lot of educated guess work, some of which never comes to fruition.

Preparation in this sense is not exact. It may be part of the human condition or just being American, but we want definitive solutions to real issues that, without a doubt, will arise. The third aspect of P5 then is another impediment to implementing this idea - "Prevents".

Remember Y2K? For several years leading up to the turn of the century, there were warnings of impending doom due mostly to software and systems not designed for continuous operation after midnight on January 1, 2000. However, very little to no effect was felt. Critics chided those who offered alerts as fear mongers and extremists. In truth, most computers and software systems were updated prior to the new millennium "just in case". We may never know what was averted because the time, money and effort was invested in advance of potential disaster, but what is known is there were no catastrophes. 

Again, is it Americans or all of humanity that does not do "Prevent" very well? Don't know. What is obvious from consumer commercials is that the preference is to take a pill after the fact and fix the situation often caused by poor choices on the front end. Think obesity. 

How does this relate to reclaiming success as a community banker? The point here is not to be caught totally cold during personal encounters with your best customers or those that you would like to move to your bank.

Before leaving the bank for even the fist one-to-one visit, make a list of every potential objection, criticism, concern, and critique you are likely to hear. Be honest. Place yourself in the shoes of those on the outside looking at banking through eyes that have been influenced by popular news media. Once again, consider the distrust and anger that exists in your market. Let the potential verbal barbs flow onto the document you are creating.

Next, develop a professional, appropriate and absolutely honest reply for each. Do not answer any objection with a statement you do not believe or support. Insincerity will not be rewarded. An untruth is game over. You can be honest, even if the answers do not glorify you or your institution. By building this tool in advance of needing it, careful thought can be invested in the best method for delivering a rather bitter pill. You will discover that several of the criticisms are addressed by the same or similar answers. 

This is not an evening exercise or a one time event. All that will be encountered outside the safety of your institution cannot be anticipated. There will be additional comments that should find their way to the objection list. Having prepared in advance ensures the likelihood you handled a surprise with confidence, poise and authenticity. Not taking the time to ready yourself will lead to a "Poor Performance". That, my friend, is an absolute.

Step 3: Implement the P5 Principle. Ignore it and suffer the consequences of P2.