2013 business plan visionaries, challengers, & game changers earning a reputation for business...
TRANSCRIPT
2013 Business Plan
Visionaries, Challengers, & Game ChangersEARNING A REPUTATION FOR BUSINESS DEVELOPMENT EXPERTISE
August 2012
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Visionaries, Challengers & Game Changers
Someday when people look back on CU*Answers, what do we want them to say?“CU*Answers was a team of visionaries, game changers, and
challengers...cuasterisk.com was a network of
those kinds of people, and inspired generations of credit unions to adopt those same
goals.”
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Building Business Development Expertise
Business Development (according to Wikipedia): “Comprises a number of tasks and processes generally
aiming at developing and implementing growth opportunities.”
We’ve planted our flag on the idea that we use our products and services to build businesses...
We’re a network that can generate growth opportunities
So in 2013, we’re focusing more than ever on business development as a route to earn us the reputation as Visionaries, Challengers & Game Changers
Will your team be the first to lay claim to one of these
monikers?
An Ongoing Foundation For How We Plan, Every Year
Reviewing Our Approach
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(1) Differentiating Our Network Approach Old Game/New Game
Old Game (Standalone CU Model)
New Game (Collaborative/ Networked CU Model)
1 People Who Need Leaders (CU boards/ volunteers with a charter)
The Ultimate Client 10 (CU boards looking to field a team to lead their organization)
2 People Who Lead and Need Processes to Run a Business
(CU CEOs)
Professional Management Vendors 9 (Organizations designed to lead networks of credit unions
or operational clusters)
3 People Who Design Processes for People to Use Tools
(CU management teams) Professional Service Vendors 8 (Organizations designed to consult and outsource process oversight and design)
4 People Who Use Tools (CU staff members)
Shared Employee Service Businesses 7 (Organizations designed to execute on behalf of the CU’s business plan through
shared teams and personnel offerings)
5 Tools (CU*Answers solutions, old game)
Tool Providers 6 (CU*Answers solutions, old game)
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(2) Attacking Our Marketplace with a Layered Design
LAYER 1: CU*A TOOL PROVIDER/CLASSIC CORE PROCESSING 1. Packaged revenue expectations 2. Diverse and general approaches 3. Responding to operational models and configurations 4. Leveraging an active audience upstream to conceptual models, and their evolution
LAYER 2: CU*ANSWERS MANAGEMENT SERVICES 5. A la carte service revenue expectations 6. Specialty services and expert approaches 7. Driving conceptual models and change into credit union configurations 8. Leveraging expertise downstream for core processing depth and expertise
LAYER 3: CUASTERISK.COM NETWORK CONFIGURATIONS 9. Wholesale and alliance-based revenue expectations
10. Franchise-like business expansion (cuasterisk operations) 11. Alliance-based alternative business expansion (non-CU*BASE leverage) 12. Shared infrastructure projects 13. Leveraging expertise across shared commonalities
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(3) Goals for Expanding our Client Base
1. Work with more diverse and complex CUs who have dedicated and specialized teams.
2. Increase our solutions’ viability for larger CUs and match up better with a wider set of CU decision-makers.
3. Broaden our geographic marketplace and build additional regional intensity to expand where we are doing business.
4. Leverage our capabilities, talents, and software copyrights to expand into other businesses, both inside and outside the credit union industry.
Projects and Efforts That Focus Us as Visionaries
Projects and Efforts That Focus Us as Challengers
Projects and Efforts That Focus Us as Game Changers
Where We’ll Focus in 2013
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Projects and Efforts That Focus Us as Visionaries
Back to Wikipedia again: Visionaries: “Prophets, Thinkers, Futurists, Dreamers”
Not hocus pocus...think “thought leaders” and “thought leadership”
An organization becomes what it studies...to be successful, an organization needs to study opportunities with more zest than problems
Technical teams are great at studying and earning certifications for their careers...can we find a new way to study together as an organization to yield new results for our business development goals?
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Projects and Efforts That Focus Us as Visionaries
Taking Our Business Plan Viral
We have some projects for helping our clients take their business plans “viral” to their members and community
What about our own business plan? Shared with cuasterisk.com partners Posted on Portal for employees What about www.cuanswers.com?
I’ll be soliciting “20 Commentators” to read and commend on our Plan (non-Board credit union CEOs, industry stakeholders)
Let’s see if we can encourage others to become visionaries, challengers, and
game changers
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Projects and Efforts That Focus Us as Visionaries
Taking Our Business Plan Viral
Check out a new segment on score.cuanswers.com
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Projects and Efforts That Focus Us as Visionaries
Taking Our Business Plan Viral
Check out a new segment on score.cuanswers.com
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Projects and Efforts That Focus Us as Visionaries
Taking Our Business Plan Viral
Check out a new segment on score.cuanswers.com
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Projects and Efforts That Focus Us as Challengers
Rethinking CU*BASE trademarks and marketing to inspire new efforts within our network
CU*BASE “Editions” GOLD Servicer Edition (SE) Cloud (or, more likely, “Evolution”) Operations ...and what about smaller “modules” like
groups of menus (ERM) or other segments?
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Projects and Efforts That Focus Us as Challengers
Challenging the way our teams have grown
Department 10/1/2008 10/1/2009
Change in # of Employees
2009 10/1/2010
Change in # of Employees
2010 10/1/2011
Change in # of Employees
2011
Projected 9/30/2012 from
the Midyear budget
Projected Change in # of
Employees 2012
Projected 9/30/2013 from
the Annual budget
Budgeted Change in # of
Employees 2013
Anticipated Change in # of
Employees over 5 years
5 Year Growth %
Administration/Facilities 5 6 1 6 0 6 0 7 1 7 0 2 40.0%Adminsitration: Xtend 1 1 0 1 0 1 0 1 0 1 0 0 0.0%Client Services 13 14 1 14 0 15 1 16 1 16 0 3 23.1%Conversions 4 5 1 4 (1) 4 0 4 0 4 0 0 0.0%CU*Answers Management Services 11 15 4 20 5 28 8 31 3 32 1 21 190.9%CU*Answers Network Services 15 17 2 20 3 27 7 31 4 33 2 18 120.0%Finance 5 6 1 7 1 8 1 9 1 9 0 4 80.0%Item Processing 14 6 (8) 6 0 6 0 5 (1) 5 0 (9) -64.3%Operations 9 9 0 10 1 11 1 12 1 11 (1) 2 22.2%Organizational Resource Development 3 3 0 5 2 5 0 5 0 5 0 2 66.7%PR and Marketing 1 2 1 1 (1) 1 0 1 0 1 0 0 0.0%Programming 19 21 2 27 6 33 6 35 2 38 3 19 100.0%Quality Control 4 5 1 4 (1) 6 2 8 2 8 0 4 100.0%Sales 4 5 1 5 0 4 (1) 5 1 5 0 1 25.0%Technical Resources 1 1 0 1 0 1 0 1 0 1 0 0 0.0%Writing Team 3 3 0 3 0 4 1 4 0 5 1 2 66.7%CU*Answers Total 112 119 7 134 15 160 26 175 15 181 6 69 61.6%
0Leased Employees: Xtend 12 12 0 12 0 15 3 19 4 19 0 7 58.3%Leased Employees: Xtension 4 3 (1) 3 0 4 1 8 4 8 0 4 100.0%Xtend Leased Total 16 15 (1) 15 0 19 4 27 8 27 0 11 68.8%
0Leased Employees: eDoc 3 1 (2) 0 (1) 0 0 0 0 0 0 (3) -100.0%eDOC Leased Total 3 1 (2) 0 (1) 0 0 0 0 0 0 (3) -100.0%
0Grand Total 131 135 4 149 14 179 30 202 23 208 6 77 58.8%
Things to consider:* the table above does not include any of the part time staff that works directly for Xtend (they currently have approximately 10 and they share cubes)* as of 7/31/12 we had a total of 194 employees on payroll
Current Location Spread (7/31/2012):* 2 employees currently housed at Muskegon* 26 employees currently housed at 44th Street* 166 employees currently (projected to be 174 as of 9/30/2012 ) housed at 28th Street* 8 contractors, not included in the Employee count above, are housed as of 8/1/2012 (1 at 44th, 7 at 28th)
CU*Answers5 Year Growth
10/1/2008 through 9/30/2013
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Projects and Efforts That Focus Us as Challengers
Challenging the way we earn our money from growth Avoid incremental and momentum based thinking Avoid investment without harvesting Avoid compensating business developers to the point
where their goals control the growth more than the goals of the organization
Working with CMS to review the 3 areas where business grow: Growth from new CU*BASE GOLD sales – their role and
how they earn Growth from existing CU*BASE GOLD clients – how they
turn support into new annual revenues Growth from new markets and taking their brand outside
the network – can we move from moonlighting to more traditional business development and investment?
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Projects and Efforts That Focus Us as Challengers
Challenging our pricing and competitive practices Marketing concessions are signaling a shift in how we
sell CU*BASE GOLD
Challenging our industry’s status quo: building challengers among our clients and partners Cooperative Score (part 1) – the Cooperative Score Self
Assessment Viral Business Plan – Add “Read our business plan” link to
It’s Me 247 Use “Vote Now” to get real results from surveys What else?
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Projects and Efforts That Focus Us as Game Changers
A reputation that our network, our firm, and our team members need in order to
be successful
“Why should I invite
CU*Answers to be part of my agenda?”
“Because we’re game changers. We may be the
missing ingredient that will help you
succeed.”
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Projects and Efforts That Focus Us as Game Changers What will it take for CU*Answers to build a
network with the reputation of being game changers? Is this a marketing problem? Is this an opportunity issue? Can we find areas where
we can make a real difference and be known for this? Is this an issue of influence? Can we really influence
our industry, our clients, and our partners to merit the reputation as game changers?
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Projects and Efforts That Focus Us as Game ChangersIs this a marketing problem? Build brands and raise the awareness ... tell
the marketplace we believe we are game changers
Evolve our website persona and leverage content in a new way
Is this an opportunity issue? Create opportunity to be seen as game changers:
get into the right rooms Chip’s challenge: “What expertise does your team have
that can get you to national events? What outlets do you have? What capabilities do you have?”
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Projects and Efforts That Focus Us as Game ChangersIs this an influence issue? Become a reference as an organization where e-
document strategies have made a difference Influencing through investing in other firms
and their initiatives, partnered with ours Influencing the outcome of projects through
participating in industry initiatives
It’s a delicate balance tactically to want to be invited and then, once there, to do
the right thing
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Projects and Efforts That Focus Us as Game Changers Building game changers among our
clients and partners A “Grand Opening State of Mind”
Tweak our processes (Product Team) Develop marketing and sales support services focused
on re-launches (CIMT/Xtend) Rethink the Peer Analysis/Learn From a Peer Develop marketing and sales support for launching directly
to credit union members (GOK) Cooperative Score (part 2) – showing that customer-
owner participation can be a game changer for a cooperative.
CUSO Financial Services, Inc. (CFS) Changing the game for our
cuasterisk.com partners
Every year our clients, the marketplace, and our teams anticipate the next step in our day-to-day evolutionHere’s where we will focus in 2013...
Delivering on Our Promises
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Improving Our Solutions (What We Sell)
Improving Our Competitive Position Accounting Top 10
Not taking a quiet audience for granted Improving our reference with CFOs, accountants and
bookkeepers The next step in what we learn from Xtend SRS
Lender*VP Top 10 Continuing to deliver on the promises made to stick with
lending until we get it right and until our credit unions are maximizing our toolkit and network potential
File Expansion Project (FEP) and Improved Next Generation (ING) Laying the foundation for the inevitable Gaining the confidence of your clients that you can execute
change
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Improving Our Solutions (What We Sell)
Improving Our Competitive Position Establishing Mobile App Integrations and Support
It’s the craze...the whole world is moving to mobile! What are we doing? Answering our clients’ challenge not to
be left behind Balancing the need to study where all this is going against
the investment into proofs of concept ...and don’t forget
Teller Platform – delivering on the Currently Serving foundation
Aggregation – building a stronger relationship with MoneyDesktop
CU*BASE GOLD Look and Feel (ING) – will deliver on 2012 goals
EFT – anyone remember what a C2B2B model means?
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Improving Our Solutions (What We Sell)
Where We’re In the Lead It’s Me 247 Nav-01: Launching January 2013!
Using pretty pictures to keep our audience engaged, while changing the foundation to ensure this product can evolve dozens of new capabilities
Tiered Services next phase Getting credit unions to see Tiered Services as more than
just a relationship management tool Still valuing it for its unique ability to automate relationship
management all the way to the point of sale Analytics: Actionable Analytical Approach (AAA)
It could take a couple of years of a grand opening mindset to really make a difference with credit unions, beyond the initial wow factor
...and don’t forget Compliance tools Online and mobile
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Improving Our Solutions (What We Sell)
Our Clients Under Pressure Responding to credit union investments in ancillary
products that require core integration Helping new and larger clients who have made an
investment in third-party products
(Verifin, Meridian Link, Marquis, SageWorks, etc.) Avoiding the trap of relying in integration revenues: we’ll do
these as investments in learning, more than a way to earn a quick buck
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Improving Our Business (Supporting What We Sell)
DR/BR: Capitalizing on a New Mindset Release Management and the Speed to Market
Paying for beta-test Paying for product certifications
Building Processes for Across-the-board Reinvestment RFPs (i3 & AnswerBook, no change; online education
moving to CU Training 11/30/12) F&E procedure Meet & greets for new employees, Sales Planning
meeting, cuasterisk.com administrating meeting
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Improving the Collaborative Environment (CU Business Models, Infrastructure, and Non-CU Partners) Driving cuasterisk.com CU*Answers Connected to the World
Lender*Hub SSO connections
Connecting Networks for CU Income Opportunities CFS, Ross Blair, denied loan exchange?
CU*BASE SE (the CU*BASE Servicer Edition)
“What are your expectations when you publish a business plan?”I don’t mean what’s in it, I mean what do you hope to accomplish by publishing it?
If we take this thing viral, what does that mean to our future, our opportunities and our success?
Conclusion