Banking on Digital Growth
Banking on Digital Growth

Episode · 3 months ago

134) #InsideDigitalGrowth: Your Digital Growth Marathon Starts with 12 Easy Steps


Your digital growth journey is not something that just happens on auto pilot— it requires planning and preparation.

And while every journey starts with a single step…

There are 12 steps everyone must take on their digital growth journey.

I’m flying solo in today’s episode from the Inside Digital Growth series to cover the 12 steps you need to take to inculcate a digital growth mindset in your organization.

I cover:

- The 4 transformations that must happen to achieve digital growth

- Why we need to ACT

- The 12 steps you must take to create a digital growth mindset

You can find this interview and many more by subscribing to Banking on Digital Growth on Apple Podcasts , on Spotify , or here .

Listening on a desktop & can’t see the links? Just search for Banking on Digital Growth in your favorite podcast player.

...a couple of weeks ago, I was speakingat total experts accelerate conference and after my session Jim came up andasked me how he can help his financial brand, developed a digital growthmindset and I told him that I'd answered the question on this podcastbecause it's a great question and one that I look forward to thinking throughand answering on today's episode of banking on digital growth, you're listening to banking on digitalgrowth. With James robert lay a podcast that empowers financial brand marketing,sales and leadership teams to maximize their digital growth potential bygenerating 10 times more loans and deposits. Today's episode is part ofthe inside digital growth series where James robert shares, answers to some ofthe biggest digital marketing and sales questions he gets from the digitalgrowth community, have a question you want to get answers to on a futureepisode visit www dot go ask jr dot com to submit your question today. Nowlet's go Inside digital growth greetings and hello I am James robert,ley and welcome to the 134th episode of the Banking on digital growth podcastwhere I James robert lay your digital anthropologists, commit to continue tocoach and guide you along your digital growth journey as you commit to coachand guide others at your financial brand at your fin tech, beyondfinancial stress towards a bigger, better and brighter future. Today'sepisode is part of the inside digital growth series and I look forward toanswering a question from Jim who is in my session a few weeks ago at totalexperts accelerate hosted at the Fairmont hotel in Scottsdale, Arizona,you know, it was so good getting back in person and a shout out to the totalexpert team for really putting on a top notch event. I even got pulled intodoing some line dancing, which is not in my area of expertise, there arepictures, if you connect with me on linkedin, send me a direct message, umI will send you a post, me doing a line dance um Because you give me a stage of1000 people, 2000 people easy peasy, but you make me lion dance in front ofothers. Well they say a picture is worth 1000words and I'll send you that picture um to give you a laugh, but I digressbecause I want to get back to Jim's question, it's an important questionand one that we should take time to think through to talk through togethertoday because Jim asked me, how can I help my financial brand develop adigital growth mindset and this was a follow up to some of the perspectivesthat I was sharing in my session at the... expert conference and Iappreciate Jim's question because Jim knows he knows that for a financialbrand to truly maximize their digital growth potential, they must be thinkingabout, they must be talking about far more than just technology and that'swhere a lot of financial brands actually get stuck up to this point,the vast majority of financial brands that have joined the banking on digitalgrowth program are focused so much on technology to where they're, they'repretty much blinded by the tech and they're not able to see anything else.And and that's a problem when the focus, when the thinking the conversations areall framed around tech, this is exactly where you begin to lose people,especially those that have built a career around the physical world ofbrick and mortar, and even the physical world of marketing of broadcast, print,direct mail, et cetera, I think most concerning is that a focuson technology alone? It is the reason and multiple studies have shown thisAround 60-85% of all digital transformation initiatives fail. And here's my hypothesis. The reasonthat we see such a high failure rate is because we're missing out on the fourmost important transformations that must happen for digital growth to be asuccess for digital transformation to be a success. And these fourtransformations in fact have nothing to do about technology from thetraditional sense. In fact, the most important piece oftechnology for a financial brand for Fintech to maximize their future growthpotential is something that you the dear listener already has right now, the human brain, it's your brain, yes, even in the age of AI researchers are finding the human brainis the greatest technology on planet Earth. In fact, a typical computer runson about 100 watts of power. Well the human brain on the other hand requiresabout 10 watts of power. And what this means is that your brain is 10 timesmore energy efficient then a computer. Now, if we could only get our brains tomine, Cryptocurrency conversation for another day. The otherthing is, there's some research that's...

...coming out over the past few years thatshows human brains may in fact be quantum computers, which means thatevery single one of you listening right now way smarter than any Ai. But Idon't want to dive too far deep down that rabbit hole and get distracted. Iwant to bring us back to the point here because the study of the brain andrelationship to managing change and transformation that leads to futuregrowth has been a growing area of study and research that we've been doing asI'm in the process of writing my second book titled Banking on Change, which isa follow up to banking on digital growth. Because with banking on digitalgrowth, I gave financial brands a blueprint a roadmap that literallyshows them exactly what they can do to maximize their future digital growthpotential. But the problem is this and the problemfollows the Peredo principle. We're only about 15, Maybe 20%, sometimes even 10 only applythe knowledge and the insights they gain. You see the other 80% they're receivingknowledge, they're receiving new insights but they failed to apply thethinking and when that happens the past, that they know that they're safe. Thatthey feel comfortable with their past becomes the predictable future and they stay stuck in a constant stateof confusion, chaos and conflict. That's been brought on by digital,that's been brought on from Covid. They get trapped in what I call the cave ofcomplacency. And this is one reason we havecontinued to optimize the banking on digital growth program to not just givepeople the answers to not just tell people what to do. Because when youtell someone what to do, You're only going to get 10, 15, 20% of peopleapplying that thinking, what were you found on the opposite end of thespectrum is when you teach, when you coach, when you guide financial brand,fintech marketing, sales, leadership teams to learn to gain new insightsfirst to then think deeply second, that's where self actualization happensand the answers to the questions they're seeking come from within andare always framed around their unique situation because it is through learning thatindividuals and teams overcome their...

...fears of the unknown. One of thegreatest fears that hold people back is the fear of the unknown. It's it'shuman nature. And when you think deeply when you think critically that's wherewe build the courage to commit to overcome those fears of change whiledoing, which is where we apply the thinking to create space and time tothen review and reflect that's where we overcome our fears of success byincreasing our confidence as we move forward onward and upward. In fact evenclarity cannot be gained without courage because there can be noawareness without some type of action being taken, there can be no newinsights gained without some type of innovation taking place because what'sthe point of gaining new insights? If we keep trying the same old things toaddress new problems, That's why there's on one side of theequation. If we look at the four growth environments, learn think do and reviewon one side, learning and thinking that's knowing on doing and reviewingthat's growing to bridge the gap between two requires one simple wordrequires us to act and we gain an act as an acronym, we gain awareness byascending to the apex of awareness by learning and thinking and then we transform and grow by doingand reviewing but the sea in the middle of act, that's where we must commit tomove forward with courage and confidence. And when we think about courage, when we think about confidence,we often find confusion, we find chaos. We find complexity whenthe conversations that we're having with ourselves and with our teams areonly framed around technology and technology is just a tool that connectspeople together and for your financial brand for your Fintech to trulyMaximize your future digital growth potential. There are fourtransformational mindsets thinking to consider as transformation begins first andforemost with you because when you transform your mindsetthen and only then can you begin to transform the team's mindset? And thetransformation of teams mindset is...

...where you begin to transform thecollective mindset of the organization. That's because organizations are madeup of teams and teams are made up of individuals. And when you try totransform the mindset of the organization to think beyond technology from thetraditional sense to view technology as a tool that connects people togetherfor good, to go beyond even from a marketing perspective, beyond thepromotion of great rates, amazing service and look like lodge a list ofcommoditized features to think about sells more than just pushing product,but to help first to sell second it is here you can finally once and forall place the transformation of people, the people in the community that youserve over to commoditize transaction of dollars and cents and as a result,this is how you will truly transform the lives of people to give them hopeto guide them beyond financial stress, that's taking a toll on their physicalwell being, their mental well being, their relationships guide them beyondthat stress towards a bigger, better and brighter future. So what I want to do for you jim alongwith the dear listener Is I want to give you 12 steps, I'm gonna give you12 actions that you can take to develop a digital growth mindset first andforemost for yourself, then your team and ultimately your entire organizationas you continue to move forward and make progress along your own digitalgrowth journey. Technology has transformed our world and digital haschanged the way consumers shop for and buy financial services forever. Now,consumers make purchase decisions long before they walk into a branch. If theywalk into a branch at all, but your financial brand still wants to growloans and deposits, we get it. Digital growth can feel confusing, frustratingand overwhelming for any financial brand, marketing and sales leader, butit doesn't have to because James robert wrote the book that guides you everystep of the way along your digital growth journey, visit www dot digitalgrowth dot com to get a preview of his best selling book banking on digitalgrowth or order a copy right now for you and your team from amazon Insideyou'll find a strategic marketing manifesto that was written to transformfinancial brands and it is packed full of practical and proven insights youcan start using today To confidently generate 10 times more loans anddeposits now back to the show. Mm And so the first mindset that will look atthe first action the first stage and I...

...liken this to running a marathonbecause as you begin to move forward through each one of these actions todevelop a digital growth mindset, your level of confidence will continue toincrease. And so These 12 actions, these 12 steps start with assessmentwhen you run a marathon, you don't just start running, you go to the doctor,you get a health check, you want to make sure that you're, you're, you'rehealthy enough to go and run the marathon and it might not be a marathon,it might be a five K, it might be a 10-K, it might be a half marathondoesn't matter. An assessment can create value for you, for your team,for your organization when embarking on your digital growth journey so that youknow, you get a health check about where you've been and where you're atand where you could go next because through the assessment we move thenmove to the next action out of the next stage, which is awareness and anawareness comes from training. It comes from planning. That's why I always saywhen you think about, you know, digital growth, digital transformation, italways begins with three things. Number one, telling the truth about whereyou've been, where you're at, where you go next, Number two, getting trainingeducation to provide clarity into what the future could look like to help theunaware become aware and the number three thinking about the next beststeps forward again. If you're running a marathon, you don't just startrunning 26.2 miles on day one and I've run a couple of marathons and like forme at this point in my life now with four kids, I want to go run anothermarathon, but I know that I am not conditioned to do that just yet. Youhave to train your body and follow a plan that guides you when I've runmarathons. I always have a plan. I always have a coach always have a guideto to to point me in the right direction to also make sure that I'mmoving forward and making progress. And so the same, this awareness is idea ofawareness is true for you. It's true for your team as training and planningor training and thinking helps you become aware of the roadblocks andthat's the key. It's so easy to think about the goals that we're looking toachieve, but we never take time from the very beginning to think about theroadblocks that we must need to eliminate, that could stand in a way orthe opportunities that are available for us to create or captured to moveforward to make progress as we eliminate those roadblocks. Let's moveon to the third stage of the third action item when developing a digitalgrowth mindset and that is acceptance and this is where I see a lot offinancial brands struggle. They take time, they assess their situation, theyhave awareness of what they need to do next.

But then they don't accept the factwhether as an individual, a team or an organization, that there are thingsthat are going to have to change. They don't accept that they're probablygoing to have to make some tough decisions. And so as a result, theyfail to fully commit to take the next steps on their journey. They get stuckin the cape of complacency and the past becomes the predictable future. Here'sthe thing. When you sign up for a marathon, there's an acceptance on yourpart. You are now committed to a specific goal to be completed in thefuture. That's why for those that join the Banking on digital growth program,that first step of signing up of applying and not everyone that applieshas the opportunity to join were we're very intentional to make sure thatthere is a good fit for those that are joining, but it's the first step ofsigning up. There's an acceptance. There's anacceptance on the part of, of an individual, hopefully a team even moreimportantly, hopefully for an organization that there's a specificgoal that they're working towards that will be completed in the future. Let's move on to the fourth, A thefourth action item here to developing a digital growth mindset. When you'retraining for a marathon, you have to adapt and modify yourbehavior adapt to diet your lifestyle, got toget up in the morning, You gotta put the miles in even when you don't wantto and when you are committed to movingforward and making progress along your digital growth journey, you're alsogoing to have to adapt and modify your behavior as an individual, as teams asan organization, to build new systems, new processes and really what thatboils down to. It's new habits and that's why I'm a big believer.Digital transformation, digital growth begins in the mind and really has very,very little to do about technology Because now we move on to the 5th pointhere, which is attitude when you're training for a marathon,things are going to get tough, things are not going to go as expected or asyou plan. And that's why Kind of like I just said before about digital growth,90% of marathon running is mind over matter. The same is true when you're movingforward, Making progress along your own digital growth journey. Keeping apositive attitude for yourself, for your team, for your organization iscrucial and it is that positive attitude that is what is going to getyou through the tough times. See the mind can only hold a positive or anegative thought or emotion in the...

...conscious mind at one time and andreally it boils down to it's a choice, it's a choice that we all make and themore that we choose a positive thought or emotion, the easier it becomes tostay in a positive mind state to be in a positive state of being because ifyou don't have a positive attitude for whatever journey that you're on in life,it doesn't matter if it's digital growth or you know focusing on you knowrelationships or focusing on money or focusing on health and fitness. If you don't have a positive attitude Iguarantee you 100% of the time you will fall back on old patterns, you willfall back on old behaviors, you will fall back on old habits and you willend up exactly where you first started. So mindset once again, mindset bringsus to our six a which is abundance or six action item training and running a marathon, itcreates a tremendous opportunity to come together with others. And onceagain when you bring people together it's easy to look at others ascompetition. But when you're running a marathon you're not necessarilycompeting with others, you're running with them and in life as well asdigital growth, another choice we have to make, we can either choose to viewthe world around us from a place, a lens, a sense of abundance or ofscarcity and when we choose abundance we see a limited opportunity and thepotential to collaborate with with with each other. That's why collaboration,particularly in this digital world, collaboration will create exponentialvalue when compared to competition and I think of this through the lens offinancial brands and Finn Tex, collaborating with each other. Mhm. Onthe flip side, the opposite of abundance is scarcity and that's wherewe find ourselves always worried that there is never going to be enough. Weare lost in lack, lack of time, lack of resources, lack of money, lack oftalent and when we are lost in lack we turn inwards, we begin to view thosearound us as the enemy as competitors. Maybe it's our co workers, maybe it'sour peers, maybe it's our colleagues.

And that lack then goes back to myprevious point about attitude. That's where you fall into a negativepattern, negative thinking, negative habits And so to break free from all ofthis leads us to our 7th a which is action were training for a marathon. It's themoment of truth. Race day has arrived. You've trained up, you're at thestarting line, you're ready to go. This is when shit gets real, you've got 26.2miles ahead of you. It's where the rubber meets the roadnow is not the time to get scared to back out. It's just time to go. It's time to move,take your first steps, start running because no one is going to run thismarathon for you. You are. And the same is true for any progress that you'regoing to make along your own digital goods journey. You must commit. Seethere's that idea of act awareness, commitment leads to transformation. Youmust commit to take action to move forward every single day. Even if it'sjust one step at a time. James clear great book. Atomic habits, writes aboutgetting 1% better every single day. I've seen some of the best plans. Thebest strategy is the best idea is the best thinking for digital growth go towaste because when the time came to take action to act, to move forward tomake progress, what does it matter if it was amarketing team, sales team, maybe a leadership team, they got cold feet. Why? Because they had not properly developedtheir digital growth mindset. Let's move on here to the next a in our action plan ofdeveloping our digital growth mindset which is automation technology has given us the ability toautomate tasks that used to make training and running a marathon verydifficult. And that's why when you get to raise day you're you're prettyprepared, you're ready to go if you if you've done the work, if you've donethe training because now you just show up and run your GPS, watch is going toautomate tasks that were either manual or even impossible to track things likeyour heart rate, your distance, your pace, your splits, your elevation, thatyour calorie burns and monitoring all of these different data points can have a positive impact on yourfinish time. Now automation along with Ai can helpmaximize your digital growth potential... as you become even more efficient byautomating predictable and repeatable marketing and sales activities to freeup time to focus on other areas like building relationships like practicingempathy, like helping first and selling second Moving on to our 8th action item todeveloping a digital growth mindset. It is analysis as you make progress alongyour run, it doesn't matter if it's a marathon.Once again five K, 10-K half marathon. Your GPS watch is automaticallycrunching all of the data from multiple sources like I said before, heart rate,distance pace etcetera. And this gives you the ability to quickly analyze yourperformance with every single step you take and when it comes to digital marketing,when it comes to digital sells you too must also analyze multiple data pointsoften in real time to ensure you're on the right track to ensure that you'removing in the right direction to ensure that you're not going off course and bydoing so will help you to maximize your future digital growth potential. And that brings us to the 9th actionitem here to developing a digital growth mindset which is adjustment when you analyzeyour running performance in real time, you are going to make adjustments toensure that you're going to achieve your goal. Maybe you need to speed upmaybe you need to slow down because you have to watch your heart rate whatever the case might be makingadjustments being prepared to do the same as you move forward along yourdigital growth journey. I want to give you this, don't be afraid to adjust,don't be afraid to change your pace to protect yourself and your team fromburnout because I often see financial brands and Finn Tex that have the bestgoals, the best plans. And as they begin to implement those plans, life happens, the environment changes,but they continue forward as if nothing changed because they failed to makeadjustments. They failed to set new expectations. True story. I was training for a marathon inHouston and it was, I was probably runningstarted running in november, It was december january. The race was infebruary and so it's as winter weather is, you're going to get here in Houstonrunning Probably average of 40, uh somewhat rainy, somewhat dry,depending upon whether or not we were...

...getting cool fronts through Race day came Valentine's date isactually February 14 and the race was in Galveston. Texas, Galveston is, isan island right outside of Houston is about 45 minutes south of downtownHouston. That's where beaches are. And on the day of the race It was about 72°72 at the start, maybe 75, About 90 95% humidity. My goal was to run a sub forum by the time that we ended that race, We were up into the 80s, which whenyou're getting the heat like that particularly, you have the humidity. Ithink the heat index was pushing up around 90 and this was in february.It's just an odd odd odd day. A lot of adjustments had to be made,new expectations had to be set because the environment changed. If I went inand had the same expectations of what I had whenever I was training andplanning of running a 45 degree weather, 50 degree weather at that, you know,piece of cake. No big deal. But when you increase the temperature, we'rerunning an entirely new race. One of the things that help thoughhowever, brings us to our our our next a which is accountability when you're running a marathon, you're not running alone, you're either running with a team oftraining partners or you're running with hundreds of thousands of others onthe day of the race who are all working towards the samegoal you are and you two need people alongside youon your digital growth journey. Whether someone internally at at yourorganization or another financial brand or through the digital growth insidercommunity, you need people to ensure that you don't fall behind. You don'tget off track. You don't go down a negative path in your own mind and itis so helpful to have these partners to guide you to hold you accountable tohelp you keep moving forward. That's why at the Digital Growth Institute wehave been so big and will continue to be big and bet on and double downbuilding a community of like minds of financial brand and Fintech marketingcells and leadership team members who are all working to transform bankingfor good and if you want to join this community please. I I love to have youbecome a part of it because... is where the greatest growthhappens. As we come to our last A R&R. 12 stepsto developing a digital growth mindset. We have authenticity and you're off and running on yourmarathon, you feel good, everything's going great. It's a perfect day and then you hit the dreaded wall and that that wall and if you've everrun a marathon, you know exactly what I'm talking about that wall. You hitthat wall between mile 18 miles 20 miles 21. This is where the racebecomes way more mental than it does physical, this is where you must betrue to yourself. And remember why you started down this path in the firstplace and I promise you, I guarantee you that you will hit a wall on yourdigital growth journey always happens. Sometimes it's it's not miles obviously,but sometimes it's month eight, sometimes it's month 12, sometimes it'smonth 18 and when you hit that wall, falling back on and staying committedto your financial brands purpose, which I've talked about extensively early onin this podcast in the earlier episodes, your purpose, your North star will be what empowers you, your team,your organization to keep pushing forward onward an upward, this is what you will focus on as youmeasure not how much you still have to do, but you measure looking behind youat how far you've come. All the progress that you've made along yourown digital growth journey. Now of course to do any of this, totake any of these actions, to apply this, thinking to develop your owndigital growth mindset, you need to give yourself time, you need to giveyourself space to work on it. The most dangerous place to be on a digitalgrowth journey is to get trapped, quote unquote doing to get trapped doingdigital. You must create space and time to stop to pause to review, to reflectbecause from there it's through that reflection. Through that review you canlearn what you've done, pull out those key insights, thinkabout those insights further and how...

...they apply to your unique situation and then apply that thinking going onwards and upwards through thenext round of doing so as you think about the next stepsforward, the next step that you must take along your own digital growthjourney. I'm curious. I'm curious what might be holding youback, What questions might you have that you're looking for clarity, you'relooking for answers to your looking for guidance now is the opportunity for youto text your biggest digital marketing, digital sales leadership questions thatyou have right now. Text those questions Just one. Text 1 Question 28, : 5495792. And that will comedirectly to me because I'd love to have you on as a guest of the podcast totalk through the question that's holding you back to provide you withsome clarity to empower you, your financial brand, your Fintech to moveforward to make progress along your digital growth journey with courage andwith confidence as always and until next time be well.Do good and make your bed. Thank you for listening to anotherepisode of banking on digital growth with James robert ley like what youhear, tell a friend about the podcast and leave us a review on apple podcasts,google podcasts or Spotify and subscribe while you're there to geteven more practical improvement insights visit www dot digital growthdot com to grab a preview of James roberts, best selling book banking ondigital growth or order a copy right now for you and your team from amazoninside you'll find a strategic marketing and sales blueprint framedaround 12 key areas of focus that empower you to confidently generate 10times more loans and deposits until next time, be well and do good.

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