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All About Change
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31:05Vicki Sokolik refuses to be an Ostrich. Her son brought to her attention the crisis of unhoused youth — youth unhoused, not living with a parent/guardian, and not in foster care — in America, and she has been fighting to support this vulnerable population every since. Most active in Tampa Bay, Florida, Vicki is the founder and CEO of the nonprofit Starting Right, Now, which removes barriers for unaccompanied homeless youth to cultivate long-term well-being and self-sufficiency. She is also the author of the new book, “If You See Them: Young, Unhoused, and Alone in America.” Vicki Sokolik joined host Jay Ruderman to discuss the many ways unhoused youth fall through the cracks in our society, how her organization helps them, and also how to build trust with people who could use your help. Episode Chapters (00:00) Intro (01:10) Vicki’s origin story (02:40) What is “unhoused youth?” (06:40) What should a person do if they worry they see an unhoused youth? (08:19) How have conversations around unhoused youth changed in Vicki’s 20 years working with them? (11:02) How do people get the word out and help unhoused youth? (14:55) Vicki’s new book (16:48) How Vicki builds trust (20:10) What do students receive at Starting Right, Now? (22:58) How does Vicki balance advocacy and direct support? (27:53) Starting Right, Now alumni (29:10) Goodbye For video episodes, watch on www.youtube.com/@therudermanfamilyfoundation Stay in touch: X: @JayRuderman | @RudermanFdn LinkedIn: Jay Ruderman | Ruderman Family Foundation Instagram: All About Change Podcast | Ruderman Family Foundation To learn more about the podcast, visit https://allaboutchangepodcast.com/…
Innovation Driven Growth
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Content provided by Podcasts That Matter and David L. Peterson. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Podcasts That Matter and David L. Peterson or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
The Innovation Driven Growth podcast is hosted by fintech pioneer, entrepreneur and author, David L. Peterson, and features interviews, insights, and ideation focused on how to unleased our inherent creativity to produce Innovation Driven Growth. Each episode is about igniting strategic innovation in work and life—no matter your skill set or job title.
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60 episodes
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Content provided by Podcasts That Matter and David L. Peterson. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Podcasts That Matter and David L. Peterson or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
The Innovation Driven Growth podcast is hosted by fintech pioneer, entrepreneur and author, David L. Peterson, and features interviews, insights, and ideation focused on how to unleased our inherent creativity to produce Innovation Driven Growth. Each episode is about igniting strategic innovation in work and life—no matter your skill set or job title.
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Innovation Driven Growth
1 Harnessing the Power of Storytelling in Banking 14:38
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14:38We, humans, are inherently drawn to stories as a medium for learning and accessing information. But many bankers erroneously think that they don't have any good stories to tell, therefore they don't even try to tell stories Every small business needs a relationship with its community banks to help them prosper, and sharing examples of your work through storytelling will create a connection that benefits both parties. Efforts to make storytelling a strategic initiative will yield long-term benefits, so think about examples and themes you can leverage. Show notes: 💯 All businesses need to tell good stories: what makes a good story? 00:55 3️⃣ The three core reasons we are so drawn to stories. 02:42 ⚠️ It is time to take action: brainstorm good story subjects. 03:17 🌞 Do you help businesses with PPP loans: how many examples of helping small businesses you have? 04:43 📈 The power of social media presence and reviewing your offers to small businesses. 11:36 Links: Harnessing the Power of Stories: https://www.youtube.com/watch?v=9X0weDMh9C4 Jonathan Gottschall, The Storytelling Animal: How Stories Make Us Human PPP frauds report: click here Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 The Value of Broad Experience in Business: Generalists vs. Specialists 10:29
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10:29Having diverse experiences can often lead to better problem-solving and innovation compared to hyper-specialization. In the book Range, there is a cognitive psychological problem that shows how analogies from different fields can help solve complex issues. Applying this to financial services, David suggests that organizations should leverage the diverse backgrounds of their employees to enhance creativity and problem-solving. Businesses should conduct skills assessments to identify all experiences within their teams and form cross-functional groups to tackle challenges, help customers, and ignite innovation. Notes: 🤓 Why people with a wide range of experience can outperform those on specialization. 01:02 🤔 Problem by Carl Drucker: cancer patient issue. 01:45 😇 Bankers are coming from different fields: gather the database of all experiences within your institution. 05:15 🌟 Skills assessment is very useful for creating cross-functional problem-solving teams. 08:02 Links: Book Range: https://www.amazon.com/0735214484 Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 Sync or Sink: The Importance of Data Consistency in Virtual and Physical Services 7:03
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7:03Your business’ virtual and physical services must be aligned. The frustration caused by the mismatch in data synchronization between these two is huge and should not happen in this day and time. Businesses must ensure their virtual and physical operations are aligned to provide reliable and accurate information to customers. This can be fixed by having an automated routine that regularly checks, multiple access points that you're offering to your customers and validates that the information is in sync. Notes: ✈️ David’s experience at the airport: how often does a service-oriented business have a sync mismatch between its virtual and physical operation? 00:58 🤯 When the mobile app and online dashboard show different banking balances. 03:15 ⚠️ Checking if your data are in sync. 05:35 Links: Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 Banking with Heart: Emotional Intelligence in Financial Decisions 11:01
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11:01We often make decisions using our emotions, but financial decisions are more likely to be better and more useful if we make them by using our heads. Behavioral science and storytelling can help with crafting the right messages to customers that will regain their emotions and take good care of them in the financial world. How science can help in attracting and acquiring new customers? Notes: 😍 Are emotions important when making a decision? 01:01 🤓 How young people make decisions: emotions can be bad for banking decisions. 02:59 🤯 Younger customers are using alternative payment services: emojis as reasons to choose bank service. 03:26 🧠 Stories activate the brain: using storytelling to help your customers to make good financial decisions. 06:05 🎯 Marketing crafted based on behavioral science: affirmation and support that will appeal to clients. 08:20 Links: Article: https://thefinancialbrand.com/news/bank-marketing/how-behavioral-science-gives-bank-marketers-a-leg-up-acquiring-customers-153126/ Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 Revolutionizing Customer Onboarding: Embracing Digital Transformation in Banking 10:35
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10:35Why banks can’t get out of the habit of not using the out-of-branch tools available when they are doing business in the branch? Why is that so hard? Why banks don't value the virtual branch, like the physical branch, and do not enable younger generations to become users of the financial institutions the way they like the best - via digital? These are only some of the questions that financial institutions must work on to get more customers who hold phones in their hands from the age of 2. It is time to innovate! Notes: 💸 Customer Journey is providing the best insight into your service from a client's point of view. 00:51 📱 Opening account in 15 minutes instead of 25: how about 5 minutes? 🤯 Employees in banks don't use the solutions and services that they make their customers use.03:45 ⚠️ Younger generations have expectations about what an online onboarding experience should be: abandonment rates are too high. 05:29 ⏸️ Pause in the process is the reason for abandonment: allow electronic transfer to fund accounts. 6:55 ⚡ Stop comparing your institution with others but compare yourself with Neobanks.08:12 🤩 How to know if your online experience meets expectations. 08:51 The article used: https://thefinancialbrand.com/news/bank-onboarding/why-banks-need-to-fix-poor-digital-onboarding-experience-147074/ Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
In episode 55 we talked about the Neobank phenomenon. Are they taking away younger customers away from the traditional financial institutions? What if traditional financial institutions could tailor the services for small to medium businesses and startups and assist individuals in starting businesses, providing a checklist, classes, mentorship, events, and training. The key is to market your services as effectively as neobanks without the need to create one, fostering a differentiated and valuable proposition for potential business customers. ⚠️ Neobank creates a compelling argument to some targeted groups to move away from their traditional bank and to come "bank" with them. 00:52 📈 Brex launched in 2017 with a specific purpose of focusing on serving startup companies, and in 2022 they were valued at $12.3 billion: now, they're less suited to meet the needs of smaller customers. 02:04 💡 Target companies Brex left behind to open accounts at your institution and adjust your offer for startups to make them long-term clients. 04:47 ✅ Community banks should consider building services that assist an individual in starting a business: David shared several ideas on how to do that. 06:40 ❗ Your non-interest service revenue is heavily weighted toward business customers, so you have a vested interest in getting more business customers via calls and programs. 07:47 📢 Potential clients should know that your institution provides a service targeted to their unique needs and mitigates any interest in them looking for shiny, bright online banking options. 08:36 👉 You should market your services as if you were a Neobank. 09:07 Links: Episode 53: Trouble Ahead for Neobanks? Article: Brex, which started out serving startups, now says it is‘less suited to meet the needs of smaller customers’ Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
We all love routine, but guess what? It’s a disaster for our brains! In this episode, David explores how excessive routine can stifle creativity and problem-solving skills, particularly in organizations such as financial institutions. He discusses how an over-reliance on strict procedures might hinder employees’ adaptability in unexpected situations and limit their ability to identify areas for innovation. Drawing from personal experiences and research findings, David highlights the “numbing effect” of routine on the brain’s executive functions, emphasizing its potential negative impact on employee creativity and crisis management. He suggests strategies like escape room exercises and continuous thought-provoking activities to counteract this effect and keep employees fit. Tune in for invaluable insights on navigating the fine line between routine and innovation while uncovering ways to maximize creative potential! Notes: 📉 David coined 'the numbing effect of routine' term: financial services don’t fare well when knocked off that routine. 00:58 🧠 Too much routine suffocates your brain: there’s evidence that the less you engage the executive functions, the weaker they become. 02:46 👉 A 2017 study reveals a link between heightened anxiety and an inverse relationship with goal-oriented behavior. 03:56 ✅ The anomaly might be something that should be examined as the source of a creative idea that might streamline the process, potentially leading to innovation. 04:48 ❗ If and when a true crisis occurs, the most important element in successfully remediating the crisis is how immediately the employees take thoughtful action. 06:02 ⏹️ A process-oriented business inherently reduces the ability to recognize potential innovations or preparedness for addressing disasters. 07:04 💡 Escape rooms are a great way for employees to work on problem-solving: consider hosting logic quizzes, innovation idea vetting programs or engaging innovation workshops. 07:33 ❓ How do you keep your people sharp and ready to go? 09:39 Links: 📌 David's book GROUNDED: https://davidpeterson.com/bookstore 📧 Email David: david@davidpeterson.com 🌞 Connect with David: www.linkedin.com/in/dlpspeaks 🤩 Learn more about David: www.davidpeterson.com 👨🏻💼 Consult with David: www.i7strategies.com ⛵ Sail with David: www.i7sailing.com Resources: How Too Much Routine Suffocates Your Brain: https://elemental.medium.com/how-too-much-routine-suffocates-your-brain-fcee3cd8444 Escape Room: www.amazon.com/Escape-Room-Box-Werewolf-Experiment/dp/B0752PGG2K/ref=sr_1_5?…
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Innovation Driven Growth
In the ever-evolving landscape of banking, a clash of titans is underway, pitting traditional community banks against the innovative disruptors known as Neobanks. Community banks must revamp digital experiences, embrace storytelling in marketing, and strategically connect with younger demographics. To ensure long-term success, strategic planning involving senior leadership and dedicated teams is paramount, providing these banks a transformative path to compete effectively in today’s financial sphere. Notes: 🚫 Neobank is NOT A BANK. 00:57 📱 Neobanks have excelled compared to the typical community bank: prioritizing user experience is what matters. 02:19 📉 About 250 Neobanks are operating worldwide: the surrounding fervor, akin to buy now and pay later schemes, might lead to a spectacular crash. 03:55 🎯 David thinks that Neobanks are created to gain online users and then convert that market share into a deal where they sell out to traditional banks: that way, banks get younger millennials and Gen Z clients. 05:54 👉 In today’s digital banking landscape, it’s essential to offer features and experiences that resonate with younger customers, or risk falling behind. 07:17 ✅ Community banks are inherently bad storytellers: it’s a critical skill for gaining young customers. 07:57 ❓ Could upcoming strategic planning sessions be utilized to chart a new course, positioning your bank to dominate young millennials and Gen Z markets in 2024? 09:17 Links: Which Neobanks Will Survive In the Future? https://thefinancialbrand.com/news/fintech-banking/which-neobanks-will-survive-in-the-future-150827 Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
Marketing is an essential part of every organization. Statistics could be more positive when it comes to bank marketing. Bank marketers have a hard job and need accurate targeted data to create very specific campaigns and confidence in their reliability. It's an ongoing problem to resolve. Help focus marketing campaigns that will generate measurable results and outcomes without crossing the creepy line. ⭐ What is Baader Meinhof phenomenon: bank marketers indicated they have access to a lot of data useful for marketing. 01:39 🔵 Profitability is important data, and it's not ranked high enough: if a nonprofitable customer leaves your bank for a competitor, your overall profit goes up. 02:50 👉 Bank marketers are getting more comfortable using the data they have access to, but they are still not very confident about the quality or accuracy of the data they use to make marketing decisions. 03:57 ✉️ Get very granular about the specific subset of customers or prospects: snail mail marketing is incredibly effective if targeted to a particular subgroup to which its appeal is uniquely tailored. 04:53 🔴 Give our marketers accurate, targeted data that will enable them to focus marketing campaigns that generate measurable results. 07:56 Links: Marketing’s role in data analytics: https://bankingjournal.aba.com/2022/08/marketings-role-in-data-analytics/?utm_source=eloqua&utm_medium=email&utm_campaign=newsbytes&utm_content=NEWSBYTES-20220824 Graphic 1: www.bankers-bank.com/wp-content/uploads/2022/10/Blog-Image-1.1.png Graphic 2: www.bankers-bank.com/wp-content/uploads/2022/10/Blog-Image-2.2.png Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 You Don’t Have Big Data…But The Data You Have Is Really Valuable! 13:43
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13:43Big data centers are getting more and more popular, and it's expected for institutions to use them. Are they necessary for banks? David shares his view on this actual topic. There is a need for a data acquisition tool that can connect to external systems without centralizing data. The speaker outlines three key outcomes for effective data management: dashboards, graphical reporting, and targeted marketing lists. The episode concludes by urging banks to focus on outcomes that drive business success and improve customer experience, rather than getting caught up in the pursuit of big data solutions. Banks should be good stewards of their data and not be embarrassed or afraid to use it. Notes: 🤔 Banks shouldn't be chasing a solution that fixes a nonexistent problem. 00:55 🟫 Bankers have several types of data like financial, customer, and transaction data: there's an idea to create a new repository that extracts from all the existing data sources into some single composite database. 02:40 😵💫 Even if you get all the data extracted and normalized but gets dated: daily update of all data from every source. 04:08 ✅ There are three categories of data management outcomes - creating dashboards, graphical reporting, and marketing lists: deliver value beyond the cost of acquisition of the chosen management tool. 05:21 👉 The tools you're looking for should specifically address how you accessed third-party databases without pulling all of that into a consolidated new database. 08:16 ❗ Tools you choose should perform the outcomes that you want: smart bankers are the ones who force vendors to show specific outcomes. 09:31 🤩 There are big payoffs for the banks that can get their arms around their data: improve the gross margin, internal efficiencies within their institutions, and customer satisfaction. 12:16 Links: Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
Where failure is discouraged, much less rewarded, why would anyone stick their neck out on the line, bringing a creative idea? Innovation occurs when failure is an option. Challenging the status quo and allowing failure, will initially lead to disruption, however, ensuring failure leads to learning will allow for improvement in banking as a whole. There is much to be learned about the challenge of allowing failure within your organization. Notes: ⛹️♂️ Innovation occurs when failure is an option: the players who lead baseball leagues and home runs almost certainly lead that league into strikeouts - apply that to your business. 01:20 ✅ Not only should bankers stop punishing failure, but encourage it using the fail-fast fail-often model. 03:00 👉 Executives should encourage innovation and responsible risk-taking across the entire enterprise: ideas that don't go anywhere are not a strikeout - usually, it takes 30 ideas to get one right. 04:01 ⁉️ Innovation occurs when failure is an option: will you take up the challenge to encourage failure at your organization? 06:07 Links: The Financial Brand Fear of Failure Hurts Innovation in Banking: https://thefinancialbrand.com/news/banking-innovation/fear-of-failure-innovation-in-banking-deming-management-transformation-151415/ Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 Faster Payment Fraud and the Elephant in the Room 7:56
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7:56In the world of faster payments, fraud is a hot topic. But is it the technology's fault? Not really. Fraud can happen with any payment method. It's about individuals making mistakes. Learn more about App Fraud and its implications in the latest episode of our podcast. We dive into the industry's response and the possible changes ahead. Notes: 💸 The banking industry is going to overreact to address app fraud: David explains why Zell draws the attention of criminals looking to commit payment fraud. [00:36] ❓ The systems that the customers are using operate exactly the way they were designed: is the financial institution responsible for the behavior of their customers? [03:07] 👉 While the banking industry should undertake any reasonable efforts to protect customers, it cannot absolve the customer from the responsibility for their actions: clients are informed that payment to the recipient is final and irrevocable. [05:35] Links: A resource from the Federal Reserve on how they will address fraud: https://explore.fednow.org/resources/fraud-at-a-glance.pdf Article on LinkedIn that has more on APP Fraud and Reg E: https://www.linkedin.com/pulse/does-reg-e-cover-scams-pj-rohall Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
Having the right leadership in place for your digital channels is extremely important. If you want your branch to have long-lasting success, it's time to find leaders who will bring your virtual branch up to the same level as your physical branch. A successful future needs innovative and open-minded leadership that is ready to push the strategic vision for your virtual branch forward and treat it with the same level of scrutiny as a physical branch. Show notes: ✅ 9 key points about virtual branches in banking that sum up Pinkston's article and the previous podcast episode. 01:14 👉 Vendors should be held accountable for the systems they deploy: a virtual branch senior executives should regularly communicate with all relevant vendors to discuss product roadmaps, suggest enhancements, and actively participate in user groups. 02:25 🔵 A senior executive of the virtual branch should have specific attributes and an open and innovative mind. 03:37 🫵 Bankers, own it! 05:13 Links: Blog post: www.bankers-bank.com/who-owns-the-virtual-branch-part-2 The article by Jessica Pinkston: “ Who Owns Digital? Ugh, That’s the Problem for Bankers ” Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 Where is the Virtual Branch located on your General Ledger? 16:01
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16:01Setting up proper accounting for your virtual branch is crucial for future success. The value of your online presence must be clear and concise in order to foster the support and funding it needs from the leadership in your company, so it's time to start strategizing how to measure this. The truth is that it's very likely that your virtual branch is much more profitable than you think, but is being underrepresented in your general ledger. The future of your business may depend on the quality of the digital solutions that you offer, so start investing in your online services today! Notes 👉 The importance of setting the proper accounting in your General Ledger (GL). 00:52 ✅ Your virtual branch may include consumer online banking, online cash management/treasury services, mobile banking, executing payments, access to eCommerce and others can be part of the virtual branch. 02:08 ❗ You are probably not accurately representing the actual activity of customers on your GL: Peterson paints four scenarios to show you that. 04:23 💲 GL accounting is important because it drives executive decision-making on where money is spent. 08:25 ‼️ The virtual branch must have its own management and budget: the support of the virtual branch by the C suite and board must be equal to or exceed the support given to physical branches. 10:45 ⭐ Your virtual branch is likely your largest and most profitable branch: this exercise will not only highlight the need for a permanent change to your GL, but also make it clear that the virtual branch needs to be upgraded. 13:06 Links Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 Lessons from GSBC – Whatever We Do, We Can’t Be Creepy! 19:54
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19:54You can elevate your level of service with the way you use data mining. Targeting customers with suggestions and recommendations based on mined data needs to be done paternalistically and carefully to avoid being seen as creepy. The goal is to offer a higher level of service that maximizes convenience and personalization, but these personalizations must be communicated appropriately. If you have the customer's best interest at heart, find out how you can better serve them by utilizing data mining. 🧑🏫 David teaches a banking technology class at the Graduate Banking School at the University of Colorado: he helps them understand what kinds of decisions they'll make as senior executives in terms of evaluating and understanding technology. 00:58 4️⃣ Data mining can be used in many scenarios: David shares four examples. 02:54 👉 The creepiness is not how we feel about doing something, but how the customer feels. 05:43 🏦 Financial institutions can get very granular about how to use customers' data and behavior to provide a very high level of personal service: creepiness is in the eye of the beholder. 07:02 🤝 What banks could do with the data is likely paternalistic: it's all about benefiting the customers. 10:59 🗣️ How we communicate defines what's creepy. 12:36 ❓ A key question that we have to ask is, “What is the desired outcome for which this data mining is to occur?” 14:31 ✅ What most of us think is creepy is likely applied to older customers, particularly baby boomers or super seniors: younger generations expect you to use their data to provide highly personalized service. 15:31 🙂 Don't show the same ads to everyone - personalize the customer experience. 16:53 Links: Blog post: www.bankers-bank.com/lessons-from-gsbc-whatever-we-do-we-cant-be-creepy Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
The SWOT analysis tool is an excellent way for your business to take advantage of opportunities. It's critical to regularly assess your business in order to be competitive in your market. By analyzing your strengths, weaknesses, opportunities and threats, you can develop crucial offensive and defensive strategies. When done right, you can minimize the damage from external sources and find great opportunities to invest in. Take strategic control of your business, and focus on the "O!” Notes: 🟦 SWOT represents Strengths, Weaknesses, Opportunities, and Threats: the purpose of SWOT is to understand the interplay of the organization's internal capabilities with the external activities or entities that might interact with that organization. 01:00 👍 The process should accurately represent the organization's strengths and weaknesses: we can assess strengths and weaknesses without being ugly to each other. 02:42 📋 It's critical to carefully brainstorm the opportunities and threats to get a realistic list of what they are: there is absolutely no benefit of overstating or understating them. 03:55 ✅ When you combine each of the four quadrants, the organization can determine a series of offensive or defensive actions or strategies, make targets, and prioritize. 04:46 🏦 From an innovation standpoint, any of those four SWOT alignments could be the target of a creative idea: some financial institutions are still making decisions about how overdrafts fit into their long-term future - that falls right into the SWOT analysis. 07:18 😀 Focus on opportunities first: David shares examples from the Financial Services realm and several others. 09:51 🔷 Securing against threats is important and should not be ignored: if you're not in the habit of getting innovative ideas out in the open across your enterprise, focus on The “O.” 11:15 Links: Where will you get Innovative Ideas: www.bankers-bank.com/where-will-you-get-innovative-ideas Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
To think outside the box, you have to know what the box is. Change your perspective on what the main focus of your business is, and start to think outside the industry norms. When you shift the perspective of the services you provide, this changes the branding of your business, so you can deliver a more profound and appealing message to your customers. Get outside your comfort zone and change the dynamic of your box! 🤔 We need to know where we are if we're going to challenge ourselves to get out of the box. 01:16 🧑💼 Banking is a transaction-focused business, so banks have trained their people to execute transactions with an extremely high level of proficiency and professionalism. 03:16 ❓ How would our thinking change regarding services if we don't focus on transactions? 05:26 🏦 A bank's primary focus could be targeting, identifying, and establishing customers' goals and dreams: ask each manager that reports to you to come up with an example of a goal or dream that a typical customer would have. 06:12 ❗ Start a conversation about the value of moving your business focus away from a transactional one: change focus and start the hard work of change of your institution's branding. 08:35 📤 It feels comfortable to stay within our industry norms, but radical changes are coming: Are you ready, willing, and able to get out of your box? 10:57 Links: Link to Previous Episode: ADD LINK Link to The Episode About Goals And Dreams: 37. What do you do? – And How Bankers Should Answer That Question Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 43. What Does “Think Outside the Box” Mean? 12:06
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12:06Thinking outside the box is essential for cultivating innovation in the workplace, and sometimes the craziest ideas can lead to the best results. When we can escape the limitations that we often think with, it can lead to profoundly creative solutions. Exercise your ability to think outside the box and produce ideas in great volume to achieve success! 📤 Thinking outside the box is to explore ideas that are creative, unusual, and not limited or controlled by rules or tradition. 01:22 🧩 We assume the solution to the puzzle is contained inside the box: there is no box. 03:48 🧠 The key to the puzzle is overriding our brains' tendency to be constrained to predetermined boundaries. 05:55 🧒 Put yourself in a mode of out-of-the-box thinking by changing your thinking space, getting a different perspective, and talking to kids - the most creative people on the planet. 06:58 📦 You can play thinking games and practice reverse brainstorming to step out of the thinking box. 08:10 📣 Getting creative is a volume exercise. 09:52 👍 If you have a question about creativity and innovation, reach out to David, and he will get back to you as soon as possible. 10:38 Links: The Diagrams for Thinking Outside the Box: www.bankers-bank.com/think-outside-the-box 9-Dot Puzzle: Sam Loyd’s Cyclopedia of 5000 Puzzles, Tricks, and Conundrums with Answers Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 42. What Should Your Innovative Focus Be? Let’s Start with OD Fees 14:34
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14:34Once your business is committed to innovation, the next step is focusing on the problems that require innovative solutions. This should involve picking a trending or pertinent problem in your industry and engaging your new innovation-driven workforce. Gather data, brainstorm and explore even the craziest of ideas before preparing the final strategic recommendations and putting them into action. Implement your new ideas, overcome obstacles and boldly move forward with success! Show Notes: 💲 To understand the story, you need to know the OD background: how will your institution tackle this issue? 01:08 📊 Data gathering - assign somebody in your organization to be the repository of gathering all the information. 06:06 ☑️ Be sure to check out the competitive intelligence. 06:31 💵 Brainstorm OD changes and revenue replacement. 07:20 🤡 Explore truly crazy ideas: you must not only encourage these crazy ideas but ensure that they will not be ridiculed, even inadvertently. 10:22 ✍️ Prepare a strategic recommendation for senior leadership and the board. 11:24 ▶️ Whether you take on the overdraft issue or any other significant change in your service offerings, you can use the template provided above as a high-level methodology for the last step: action. 12:21 Links: The Death of Overdraft Fees: www.bankers-bank.com/the-death-of-overdraft-fees About OD: Overdraft and Offsetting the Gap Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
Implementing an innovation mindset into your business is crucial for its future success. Building the foundation for this may be a harrowing task, but the steps in this quick start guide are a great place to begin. There must be a desire and commitment to building a culture of innovation from all levels of leadership that is backed by actionable processes. Integrate these values into regular communications within the workplace and support innovative ideas with encouraging facilitation and incentives. Make innovation a mission-critical value in your business and transform your workforce into inspired problem-solvers! Timestamps: 👔 David summarizes the talk he held at the FNBB Summer Conference. 01:12 👉 The precursors of the four steps to making innovation a reality. 02:16 🩸 No#1 Desire: innovation must be significant enough for you to put blood and treasure on the line. 04:21 💪 No#2 Action: focus on education and modelling behavior. 06:21 🏅 No#3 Support: motivation and incentives are key. 09:15 🛑 No#4 Remove barriers: stop limiting innovation and ideas. 10:29 🏦 FNBB has made great strides in how they view innovation. 14:01 📋 A quick start guide to start with innovation: figure out how to change your organization into one driven by innovation growth. 15:12 Links: Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
Converting an unused space into a “Thinking Room” will add great value to your business. This is an inexpensive strategy for increasing innovation and creativity in your workplace. Create a functional safe space that promotes innovative thinking and get the ideas flowing! 🥳 The Thinking Room is an unused space converted into a place where thinking and creativity can flourish. 01:06 🤩 Check out the Thinking Room David created in FNBB. 02:16 ❗ Innovation occurs if failure is an option. 03:44 ❔ What's stopping you from creating a similar thinking room in your organization? 04:47 🤗 People need to have a safe space to ideate. 05:35 Links: The Thinking Room: www.bankers-bank.com/the-thinking-room-is-ready-for-ideas Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
Investing in new technology is a complicated process that requires expert strategy. No matter what industry you are in, investing in new technological systems can be a time-consuming and overwhelming experience. With so many vendors competing for your business, it’s important to do a full review of their products to see exactly how they will work for your needs. Remember that strategy is key, and these investments will be impacting your business for years to come, so spend your money with specific growth and expectations in mind. Inertia is not a strategy, so review your business’s tech needs today! 🏦 FNBB was in the final stages of deciding on its primary core accounting system: David shares the decision-making technologies they used. 00:56 📋 Practical summarized steps for making the decision: months and months were needed to evaluate different core vendors. 02:08 ⚠️ The issues that FIs face when they make tech purchases. 04:34 ✅ Set realistic expectations, prioritize proven integrations and ease of configuration, beef up your internal IT capabilities & tie your FinTech spending to expected outcomes. 07:34 📱 If you want more mobile users, invest in a better mobile platform. 10:41 💸 Create a way to monitor the tech roadmap each quarter, don't just buy it and forget it. 11:43 ❗ Just because many of the newer technologies are not fully baked or standardized is not a reason to avoid them. 12:42 🤝 David has a recommendation for bringing in additional resources that can help you sort everything out. 14:06 Links: It’s Dreadful Being a Buyer of Bank Technology: the Cornerstone article by Steve Williams Contact for Profit Resources, Inc: Dave Koto at dkoto@profitresources.com Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 38. Your Advertising Budget – Are You Getting Your Money’s Worth? 13:06
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13:06Employ modern digital marketing techniques to ensure your advertising budget reaches your target audience. Banking is a highly competitive industry, so banks must aggressively pursue new customers with great precision. It’s time to revisit your marketing budgets and allocate funds toward targeting the new generation of prospective customers in the digital world. Utilizing services and marketing strategies that find and target new customers with engaging story-based media and curated articles is the key to modern advertising. Spend your money wisely in the places your future customers are reading and listening! 🏦 Today's financial institutions are in a very competitive environment, but is your marketing money being targeted adequately? 00:52 📻 Many FI’s do advertising through “advocacy”: the typical nonadvocacy advertising activities are billboards, bus stops, benches, or other types of signage - newspaper, radio, television, direct mail, email, and social media. 02:30 📱 Digital tools access data and target information to those most likely to seek it. 04:14 🙂 Curated articles and storytelling evoke a strong response: Millennials and Gen Z are motivated by emotion. 06:15 ✅ You can hire professional writers that work across various areas of expertise: the response rate is significantly higher than traditional advertising. 09:01 🎯 Spend advertising dollars on the specific areas where potential clients will be reading and listening. 11:11 Links: Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 37. What do you do? – And How Bankers Should Answer That Question 12:19
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12:19It’s time to change public opinion on the role of a banker. It’s no secret that the role of bankers is largely underappreciated and seen as an unexciting career. The truth is that bankers perform an essential service for people and their businesses. We can work to shift the paradigm by highlighting the importance of banking in our business language and shamelessly recognizing ourselves as facilitators of hopes and dreams. Emphasize your value and help change the narrative on banking! 🏦 The general public doesn't appreciate bankers: a little thought exercise for bankers or similarly undervalued positions. 00:57 🔶 Financial institutions can change a stale narrative: bankers assist with achieving people's goals and dreams. 03:41 ✅ Behind each & every transaction is a goal or a dream: there are numerous ways that bankers assist consumers, businesses, and nonprofits in the area they serve. 06:46 💡 What if your Facebook posts start to highlight stories of customers who achieved a goal or a dream with the assistance of your organization? 09:18 🎉 Over time, we can have more informational and interesting conversations at parties. 10:33 Links: Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 36. Are You Really Prepared for a Cyber Breach? Are You Sure? 13:33
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13:33You must ensure that you are adequately protected from hackers and data breaches. In the digital age, your company must have the plan to deal with cyberattacks. Working with an insurance carrier that offers coverage that is right for you is vital, and be sure to follow their protection plans carefully. Getting your employees trained and ready to handle the preparation and aftermath of a potential attack is also crucial. Ensure your business is sufficiently protected for your business and your client’s sake. 📋 Insurance carriers should provide instructions regarding the protective elements you need to follow for your insurance coverage to be considered “active”. 02:57 ✅ You should regularly drill on the Incident Response Plan the same way as you do for a robbery or disaster: there're many elements you should have if a breach occurs. 04:35 👉 The type of insurance you purchase is as critical as the policy limits. 09:05 ❗ It can affect your institution or customers if your "dependent vendor" is breached: do you have the right insurance partner? 10:00 Links: Book Grounded: https://davidpeterson.com/bookstore Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 35. Breaking Through Resistance to Foster Effective Creativity 12:18
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12:18Resistance is a formidable opponent to your business, but you can fight back. Resistance is that barrier to all innovation and creativity within your business, it is strengthened by fear and it wants for us to stagnate and do nothing. The key to overcoming this aggressive force is professional-grade virtues like persistence, patience, and a strong dedication to doing the hard work. We can climb the mountain of resistance and make gains in innovation within our business by ensuring that progressional attitudes are adopted and encouraged at all levels of our organization. You can’t afford to stagnate, so take the professional approach and make innovation an essential part of your business. Show Notes: 💪 What the professional does that the amateur cannot do, is effectively battle and win against resistance. 00:08 ✅ Resistance is invisible, internal, insidious, implacable, impersonal, infallible, and universal, it never sleeps, seeks to kill, and it's most powerful at the finish line: fear is fuel for resistance but also a barometer for us of what is worth pursuing. 02:44 👉 Our goals of creativity and innovation cannot be avocation - it must be our vocation: attributes of a professional and advice on how to go pro. 06:32 🎯 Fear of success can be greater than fear of failure: in a moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing. 09:19 Links: 📮 Email David: david@davidpeterson.com 🎯 Connect with David: www.linkedin.com/in/dlpspeaks 🌟 Learn more about David: www.davidpeterson.com 🍀 Consult with David: www.i7strategies.com ⛵ Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 34. Encourage Thinking To Enable Innovation 12:07
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12:07🥳 The Thinking Room is a place for brainstorming, interaction, and having fun: innovation is creativity expressed, manufactured, and consumed. 00:52 ✅ There is no innovation and creativity without failure. 05:14 💡 Innovation starts with creativity, and creativity requires lots and lots of ideas. 08:36 🧑💼 Suggestions for senior leaders on how to break barriers and encourage a free flow of ideas. 09:40 Links: 📮 Email David: david@davidpeterson.com 🎯 Connect with David: www.linkedin.com/in/dlpspeaks 🌟 Learn more about David: www.davidpeterson.com 🍀 Consult with David: www.i7strategies.com ⛵ Sail with David: www.i7sailing.com…
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Innovation Driven Growth
🧑🔬 A story about a classic failure. 00:59 💡 The weak glue had a commercial value - the birth of the post-it notes. 03:02 ✅ Success was born out of failure - the value was unrelated to the original purpose. 07:42 🎯 How willing are you to allow your staff to experience failure? 09:51 🤓 Are you encouraging employees to think of and articulate ideas, even crazy and failed ones? 11:11 🕰️ Your eureka moment might be years down the road. 12:45 History of 3M’s Post-it-Notes: www.post-it.com/3M/en_US/post-it/contact-us/about-us Email David: david@davidpeterson.com Connect with David: www.linkedin.com/in/dlpspeaks Learn more about David: www.davidpeterson.com Consult with David: www.i7strategies.com Sail with David: www.i7sailing.com…
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Innovation Driven Growth
❗ Innovation eludes organization when: we are too busy, thinking is not valued, there's resistance to change, and it requires effort. 00:52 ✅ We let artificial constructs about innovation limit our creativity: tackle bite-sized innovations and ideas: how employees can help. 02:45 ✌️ Two ways to deal with inquisition: encourage employees to be inquisitive. 07:19 ⏳ Save time by eliminating unneeded steps: how to take a fresh look at your processes and procedures. 11:37 💥 Encourage everyone to look for innovations & see the impact they can have on the gross margin. 13:15 Links: 📩 Email David: david@davidpeterson.com ✨ Connect with David: www.linkedin.com/in/dlpspeaks ✅ Learn more about David: www.davidpeterson.com 🤝 Consult with David: www.i7strategies.com ⛵ Sail with David: www.i7sailing.com…
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Innovation Driven Growth
💡 Creativity sparks innovation & play promotes creativity. 01:10 👦 A good start is to remove barriers to fun: we learn when we have experiences that confound our expectations. 03:50 🎮 Some fun ideas: gamification of service, a big wheel for interest rates, play area for kids. 06:10 👌 Encourage strategic and innovative thinking, model the value of a cross-function team & do something fun: Quarto tournament is a great choice! 07:11 ❗ The results - we are in charge of how we conduct our moves. 11:46 📖 Wonderland by Steven Johnson: www.fs.blog/value-play-driver-innovation 🧩 Quarto: www.amazon.com/Gigamic-5201-Quarto/dp/B0019O198I 📩 Email David: david@davidpeterson.com 🌟 Connect with David: www.linkedin.com/in/dlpspeaks ✅ Learn more about David: www.davidpeterson.com 👨💼 Consult with David: www.i7strategies.com ⛵ Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 15. Values of Mistakes in Innovation Processes 34:02
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34:02🤯 A large number of products were discovered by a mistake. (Roundup, Play Dough, Men's Rogaine etc) 1:04 🙈 Why are we so afraid of failure? 5:26 🙃 Being A student or F student: Being a successful innovator means you have to have a ton of bad ideas. 9:11 ✌️ Start off by thinking failure is good and don't let anybody limit your ability to come up with an idea.12:00 👀 People who come up with ideas will get noticed by time. 13:42 ☝️ There is a big difference between error in innovation and error in execution. 15:17 🤓 Success can create additional problems. 18:49 😲 Success can breed overconfidence. 23:15 🔴 What happens if you get stuck in the 'Numbing effect of routine' with no adjustments of processes? 26:04 🔎 Examining the effects of a new idea or project, especially negative effects. 28:00 🙋♂️ Be boldly ready to raise your hand and offer up an idea. 31:49 📘 Book 'A Whack on the Side of the Head' :https://www.amazon.com/Whack-Side-Head-More-Creative/dp/0446404667 📚 David's book 'Grounded!' : https://www.amazon.com/Grounded-David-L-Peterson/dp/1944340009/r…
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Innovation Driven Growth
1 14. All the Challenges in Hemp Agribusiness, IDG Interview with Justin Fischer, CEO of RiskScout 47:58
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47:58👨🌾 Farmers are experiencing all challenges related to a business, plus they have soil and weather issues. 1:11 💻 Justin Fisher is a FinTech guy, with experience in farming 2:47 🤓 How is hemp different from marijuana? 6:46 😳 Because of legislation issues, you can plant hemp legally, but it can grow to be illegal. 10:00 📈 About the legal framework of farming hemp and growth of interest for hemp in many agricultural states. 15:54 👂 Cannabinoids: CBD is challenged, as the FDA hasn't set clear regulations around it. 18:34 🪴 'Training the plant' is something that all businesses need to think about to achieve their goal. 23:37 💰 Looking at the side of the financial services and issues farmers have to get financial products (bank accounts, loans, insurance) 26:26 🌞 How RiskScout helps banks in high-risk businesses and also farmers who want to grow hemp? 34:45 🤑 The first person who develops an iPad for measuring THC levels in hemp will be a billionaire. 38:04 🏦 Community banks will have to rethink what their purpose is and innovate too. 41:09 Get in touch with Justin: https://www.riskscout.com/ justin@riskscout.com Listen to IDG podcast on https://idg.podcastnetwork.io/…
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Innovation Driven Growth
1 13. Innovation can Change the World or Just Change You, but Only if You Pursue It 32:23
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32:23😲An engineer working for Tesla has re-engineered the chocolate chip! 0:56 👍He did it better but it took him a few years. 02:31 💪Salesman invented the extension of a wing for a sailboat. 4:06 ✨What really matters--find ways to make improvements. 4:50 🎯Every single individual in the company needs to be innovating. 6:25 📣How you get those ideas heard? 7:40 ✌️Allow time for innovation in your company and people will be engaged. 13:52 🔔Innovation Challenge as a path for all HR issues with long-term benefits. 19:51 📈It's about improving the gross margin, not only about team building. 22:44 👀How to convert creative ideas into innovations? 28:53 https://www.foxnews.com/food-drink/tesla-upgrades-chocolate-chips https://prnt.sc/upimx2 https://www.mdtmi.com/about-mdt/ 🔗Connect with David: david@davidpeterson.com https://www.facebook.com/DPSpeaks/…
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Innovation Driven Growth
🔀 Marketing and PR may not overlap. Being channel-agnostic. 02:42 ❄️ "We are used to personalization." 04:49 😷The Covid-19 crisis impacted the ways we interact with brands. 09:43 💣 How to tailor a message that will not be offensive to anybody? 13:58 ⏰ Algorithms and recommendations. How they save time. 21:25 🏅 Innovations in the financial industry. Behind the scenes. 27:46 🛍️ B2B vs. B2C and factors that influence customers' decisions. 30:57 ✨ Importance of representation and diversity in marketing. 34:47 🌱 Young millennials and Gen Z people are natural digital communicators and marketers. 40:41 👩 Find Binna on Twitter https://twitter.com/binnaskim, LinkedIn https://www.linkedin.com/in/binnak/ and learn more about Vested https://fullyvested.com/ 44:55…
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Innovation Driven Growth
🦠 Public activities during COVID-19 01:32 👏Kudos to the City of Montgomery: Innovative 4th of July parade. 2:24 ⚽Innovation from Argentina: human foosball. 5:36 🙌Don't be afraid: find the intersection of necessity and opportunity. 8:40 👦My grandson's creation and working "with a purpose". 11:11 🌷When a young person shows any creativity, encourage it, and let it flourish! 14:06 😲Kelvin Doe aka DJ Focus - a 15-year old innovator. 16:08 🌱David Senge's ongoing program for young innovators. 17:36 💥Be the spark that sets innovative fire. 19:29 🔗Connect https://davidpeterson.com/ and https://www.linkedin.com/in/dlpspeaks Show links: https://www.npr.org/2020/06/30/884770859/this-reverse-parade-will-allow-july-fourth-revelry-from-a-social-distance . https://www.wgbh.org/news/international-news/2020/07/03/human-foosball-new-form-of-soccer-developed-for-pandemic http://prntscr.com/tnj464 and https://prnt.sc/to2fa6 https://youtu.be/XOLOLrUBRBY…
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Innovation Driven Growth
1 10. An IDG interview with Wayne Miller, Executive director of Venture Center 42:00
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42:00Welcome, Wayne Miller. 1:30 The core concerns every business needs to do well. 4:39 🤝The Venture Center: supporting the entrepreneurial community in the state of Arkansas and beyond. 8:00 Collaboration with universities, technical schools, and other corporations. 10:02 What are ICBA and FIS? Venture Center is working very closely to find business leaders and companies for FIS. 13:20 Accelerator Program - How it helps startups? 20:20 Venture Center success stories. 24:50 Future of innovation in financial services. 25:30 Future of community banks: innovation implementation of High touch and Hitech. 27:48 Getting beyond the curriculum: Student Education Entrepreneur Collective (SEEC) 33:11 Fulfilling the gap between startup enthusiasm and business wisdom. 35:29 The challenges of being an entrepreneur: Wayne's advice to innovators in financial services: 37:53 Contact Wayne:wayne@venturecenter.co and https://www.venturecenter.co/…
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Innovation Driven Growth
✅ A good example of getting creative to problem solve. 01:16 👉 "Creativity is going to get us all through this." 04:05 🤔 How can I get innovation started at my organization? 04:26 🏼Immediately fall back into the numbing routine. 06:28 3️⃣ Three innovation categories. 08.34 🌟 Express ideas clearly: boosting speaking ability with Toastmasters. 12:09 🪁Forgiveness is easier to get than permission. 13:38 🫣 If you are blocking others in innovation: Stand aside. 15:23 ⚠️ Encourage and harvest all ideas, even if not all of them are winners. 16.55 🥅 What should innovators try to accomplish? 17:55 🧐 Don't punish the ones who are trying to innovate. 19:20 📋 Make innovation a part of the employees' annual review process. ✨ Be the spark of innovation. 21:10 *https://www.foxnews.com/lifestyle/apparel-companys-t-shirt-idea-coronavirus-relief- fundraiser},**https://www.toastmasters.org/ https://davidpeterson.com/…
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Innovation Driven Growth
1 08. How Fintech is changing our lives - Interview with Daniel P. Simon, financial communications expert, and writer 42:38
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42:38Introducing Daniel P. Simon 1.43 Daniel's book: “The Money Hackers—a group of misfits took on Wall Street and changed finance forever” 2:55 The financial industry should empower everyone, not just the richest 9:57 Financial crisis: East coast bankers and West coast thinking technologists 11:16 The refreshing style in writing: engaging and light 15:27 The role of financial advisers 20:00 Human qualities will be the reason people stick to a financial institution 23:12 Wake Up call for community financial institutions–need to step up digital banking presence 23:36 What services will change in the future? 27:40 Get the book Money Hackers 35:26 https://www.amazon.com/Money-Hackers-Misfits-Changed-Finance-ebook/dp/B07TH7VLQ3/ref=sr_1_2?dchild=1&keywords=The+Money+Hackers&qid=1586291377&sr=8-2 https://danielpsimon.com/…
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Innovation Driven Growth
Did you plan scenarios like COVID19 in your business strategy? 1:56 A Black Swan Effect 2:38 Planning for a catastrophic event 4:26 COVID19 Canceling speaking engagements and ripple effect throughout the entire industry.6:18 Virtual conference. It's a reasonable alternative. 09:01 Bankarshub - a good example of online innovation. 11:29 Don’t let the virus leave your organization on the sidelines. 12:20 Concerts and sports events canceled, but here is an alternative. 13:03 The innovation brought by Streamers and eSports *** 15:56 SoftGiving.com Charitable giving and online Galas 17:32 Silver lining to COVID19: outdated models of business 20:10 Don’t let this wave of inactivity damage your business, get in touch with experienced innovators 23:00 http://www.bankershub.com/ https://softgiving.com/ **** https://fight2fund.org/ *** www.twitch.com…
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Innovation Driven Growth
How is the "Flight, Fight or Freeze" response wired into our physiology? 02:29 You can train yourself to respond instead of reacting 04:15 How to keep your head in any crisis, big or small? 05:06 Fishing on the raft experience 05:58 How can you practice this response vs. reaction in your everyday life? 11:05 Which situations require an immediate response to remediate the crisis? 12:47 Don't make decisions based on what others might think of you or your response. 13:20 If you're a senior leader, you can work specifically to change reactions into responses.15:42 Navy Seal Breathing technique to keep you calm in the times of the greatest stress 17:27 **http://motto.time.com/4316151/breathing-technique-navy-seal-calm-focused/…
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Innovation Driven Growth
1 05. Innovation Leadership - Incorporating ThinkTime 35:50
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35:50How to get creative and harvest ideas for potential innovation? 00:08 🧠 What is the value of creative and strategic thinking? 01:25 The definition for innovation is “creativity: expressed, manufactured and consumed” 02:45 Why you need a specific systemic method to come up with and harvest creative ideas? 04:06 What are the four elements required to allow true creativity to flourish? 05:02 What spaces can you use as your “space for thinking”? 05:30 Why is it necessary for you to specifically allocate time to think? 10:25 Why do you need to relax and let your mind settle first before you start thinking? 13:55 🙃 Why is it critical to capture your ideas, no matter how silly or insignificant they might seem? 15:13 Take time to develop your ideas further, and give your right brain time to be creative 17:57 Nothing kills creativity, more than self-doubt 24:50 Tips to unlock creativity if you are a manager or an office clerk 27:52 Stop trying to think of good ideas and just think of ideas 31:53…
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Innovation Driven Growth
Is the model of Higher Education going to radically change? 00:45 Autopilot thinking – how many decisions do you make in a day? 04:05 More experience - less chance of coming up with innovative ideas 05:42 What is the numbing effect of the routine process? 07:01 Why is the autopilot thinking the killer of creativity? 07:11 🧠 How the left brain and the right brain work together? 07:22 🤯 How to remember the insights that your right brain provides? 12:56 Developing an ability to look for ways to do things differently 13:42 Important - get outside input on your products and your processes 17:10 Why autopilot thinking is not enough for our future success 24:18 Why we must find ways to unlock our right brain 25:16…
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Innovation Driven Growth
Where innovation falls in a business 03:25 // Innovation and creativity 04:17 // Innovation vs invention 05:10 // How connections between technologies are driving economic growth 06:39 Understanding and dealing with the gap between seemingly unconnected technologies when starting and running a business 08:11 // The concept of exomorphosis. This idea that change is happening around us. 11:55 Why is it important to listen to people who work with customers? 13:48 Why is it beneficial for older generations to appreciate the new generation's fresh points of view? 15:20 // How virtual classroom is covering the gap between teaching explicit knowledge and practical knowledge? 19:30 // Business plans: How do you make small mistakes that enable you to learn without your business dying? 22:05 // A business simulator: how well would you do in a competitive environment? 26:10 Making a team: why cross-functional teams work best? 30:18 // Successful teaching stories: how to be an effective leader a...…
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Innovation Driven Growth
The difference between innovation and creativity—and why it matters. 01:54 Why we should brainstorm just ideas—not only earth-shattering ones. 4:26 What the Wesleyan Quadrilateral has to do with innovation. 6:25 ️ How tradition impacts our behaviors (aka why we’re on autopilot). 10:10 The birth of velcro, and how to use the experience as inspiration. 12:43 How to harness your creative brain with reason. 15:11 What is exomorphosis and how it impacts the way we live and work? 19:08 How exomorphosis can apply to the financial world (let’s talk about Venmo). 24:21 What we can learn from the fatal flaw of the taxi industry. 25:39 Why we must listen to the newest employees to stay ahead of exomorphosis. 28:41 Advice for Millennials: how to communicate with older generations. 33:04 Why you have to create ideas (even bad ones) to get to innovation. 38:17 *Wesleyan Quadrilateral https://en.wikipedia.org/wiki/Wesleyan_Quadrilateral **Birth of velcro: https://en.wikipedia.org/wiki/George_de_Mestral…
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Innovation Driven Growth
1 01. Think You Would Know An Innovation If You Saw One? 45:48
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45:48🤔We need to think about innovation differently. 0:00 How innovative are you—really? 1:42 Why are we playing the innovation blame game at work? 3:18 What a candy bar taught me about innovation. 5:03 Why innovation doesn’t have to be a big, disruptive breakthrough. 7:48 What to do if you do have a revolutionary idea. 13:01 You may not have any big ideas, but you can still have incremental innovations. 14:36 What sailing in the 1800s can teach us about innovation today? 18:17 My official definition of innovation. 23:37 Creativity vs. innovation—as demonstrated by jumping to the Earth from space. 29:14 What does it take for innovations to be wildly successful? 33:18 How to come up with innovative ideas. (Hint, it takes a lot of bad ones!) 37:50 Why small innovations are crucial. 39:49 Will you be innovative? 41:36…
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Innovation Driven Growth
📊 CX measurement is not empirical. 01:12 ⚖️ The balance of ascertaining customer sentiment: benefits of higher CX level. 03:04 👍 FIs growing proficiency: good self-service beats great personal service every time. 04:46 🤝 Innovation attracts younger generations: CX will not improve without employee education.06:54 💡 Ideas worth exploring: a CX Focus Group, Tech Wolves, OmniChannel. 07:37 ✅ Question of the overall impression before any specific question. 10:43 📈 CX concept is like holding a hand full of jello, but improvement dramatically increases viability in the coming years. 11:59 Links: ▶️ Previous episode: https://www.idg.podcastsmatter.com/episodes/29-it-s-conference-season-get-educated 📰 The article "Banks With Strong Digital CX Generate More Profits Than Peers": https://thefinancialbrand.com/news/digital-transformation-banking/financial-institution-digital-transformation-readiness-trends-120890/ 📧 Email David: david@davidpeterson.com 🎯 Connect with David: www.linkedin.com/in/dlpspeaks ✅ Learn more about David: www.davidpeterson.com 👨🏻💼 Consult with David: www.i7strategies.com ⛵ Sail with David: www.i7sailing.com…
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Innovation Driven Growth
🤝 A conference is a gathering of people with a common reason for meeting at a centralized location. 02:17 🕴️ Have virtual meetings stopped us from having important “chance meetings?”04:50 👔 Suggestions for sending directors to meet up. 05:24 💲 Access to the vendors is much more than tchotchkes and prize drawings. 08:07 💼 Send at least one person to your state organization or regional Association conference. 09:00 🎓 Give students and future leaders all the experience and elements of business they need. 09:30 🧑🎓 Summer Conference of FNBB - some bankers started as youth 25 years ago. Now they are leaders. 11:00 🧑💼 Let employees research and present educational goals and conferences they want to attend. 12:29 Links: 🎧 Previous episode: www.idg.podcastsmatter.com/episodes/28-education-is-fundamental-but-don-t-leave-out-the-fun 📩 Email David: david@davidpeterson.com 🎯 Connect with David: www.linkedin.com/in/dlpspeaks ✌️ Learn more about David: www.davidpeterson.com 👨💼 Consult with David: www.i7strategies.com ⛵ Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 28. Education is Fundamental – But Don’t Leave Out the Fun 14:15
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14:15😒 Presentations in the financial services industry are just kind of - boring. 01:41 👍 Spice up the class - "Four horsemen educating" - fun and high quality. 02:42 💲 When teaching in person, use dollar bills from your pocket. 05:21 🤡 Self-deprecating humor makes the whole mood lighter. 06:37 😹 Humor often comes in 3 parts where the last one doesn't fit in. 07:27 ✅ Irony works. 08:26 👨🏫 The presentation should have more engaging content, especially for younger generations. 09:31 🖱️ Company Lemonade LXP provides engaging education to frontline staff that empowers them to be better sales advocates for banking services. 10:36 🎮 Gamification is huge in meeting your internal education goals. 11:43 Links ▶️ Previous episode: https://m8r.io/IDG-ep27 🎮 Lemonade LXP: www.lemonadelxp.com 📧 Email David: david@davidpeterson.com 🎯 Connect with David: www.linkedin.com/in/dlpspeaks ✅ Learn more about David: www.davidpeterson.com 👨🏻💼 Consult with David: www.i7strategies.com ⛵ Sail with David: www.i7sailing.com…
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Innovation Driven Growth
1 27. How to Properly Maintenance the Machine – The Importance of Employee Education 12:20
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12:20🚜 All bank loans are secured by some kind of collateral, and it’s usually equipment. 00:47 🧠 Banks run on a different type of “machinery” - the human capital also needs maintenance. 02:16 👨💻 Job-specific education and certifications: look at each employee and determine what training and/or certifications may be appropriate. 03:39 💼 General/industry education: ICBA annual conference in San Antonio was educational “maintenance” for David Peterson. 06:15 📱 Product/service knowledge that enables better customer service. 08:25 ⚡ The power of having an education component on the annual review: budget employees can spend on wished courses or education. 09:56 Links 📩 Email David: david@davidpeterson.com 🤝 Connect with David: www.linkedin.com/in/dlpspeaks 🙂 Learn more about David: www.davidpeterson.com 👨💼 Consult with David: www.i7strategies.com…
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Innovation Driven Growth
🕵️♂️ Always be looking for places where you can learn about what's going on in your business. 00:57 😷 The customer can be adequately served while working remotely: COVID pandemic forced financial institutions to shut down all of their branches. 01:14 😕 Intangible skills sometimes make employees excellent candidates: the workforce is unprepared for changes in the future. 02:27 ☀️ Moving from transactions to engagement: having younger employees, having engagement activities. 04:24 ✨ Get the right people on your team: people who possess humility, hunger, and smarts. 06:00 🏦 Worked in a daycare facility but was hired in a bank? 08:30 👉 Enthusiasm cannot be taught, but it can be caught: retaining a millennial in the workforce. 09:36 💎 What makes younger millennials and Gen Z's think so differently: a few tips to Baby Boomers. 11:27 🙌 Tips to Gen X’ers leaders: how do you feel about tattoos? 13:05 😎 Key Advice To Millennials / Gen Zs: the label on your generation. 13:46 ▶️ We all can learn from each other but it will take a few years, so let’s start right away. 16:21 Links 👆 Article 1: www.tinyurl.com/IDG-26-article 2️⃣ Article 2: https://tinyurl.com/IDG-article2 🖼️ Graphic1: https://prnt.sc/BszawrIjv1HG ✌️ Graphic 2: https://prnt.sc/HyMvPamcbD3x 🧠 X=Y thinking: https://davidpeterson.com/millennials-yx-thinking/ 📩 Email David: david@davidpeterson.com 🤝 Connect with David: www.linkedin.com/in/dlpspeaks 🙂 Learn more about David: www.davidpeterson.com 👨💼 Consult with David: www.i7strategies.com…
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Innovation Driven Growth
1 25. Why is it Important to Know Costs and Revenues of Your Virtual Branch 9:49
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9:49🤔 How important is your virtual business or branch? 00:53 📊 Dilemma in the business: Decreased branch activity or rise in online activity. 02:19 🌟 When your system shows what I’m talking about over and again: online customers represent significant cost savings. 04:11 📈 But people still use physical branches: how to get an accurate picture of activity breakdown and revenues? 05:39 👉 Overstating the profitability of all your physical branches: Defining your virtual organization's revenue is crucial. 07:27 Links 🎧 Part 1 episode: https://m8r.io/IDG-Virtual-Branch 📩 Email David: david@davidpeterson.com 🤝Connect with David: www.linkedin.com/in/dlpspeaks 🙂 Learn more about David: www.davidpeterson.com 👨💼 Consult with David: www.i7strategies.com…
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Innovation Driven Growth
🏦 Most financial institutions don't actually track the virtual branch in the same way as the physical branch. 00:50 💸 Why do some banks see only expenses in virtual branches and profit in physical branches? 02:04 😵💫 Why investing in virtual branches is very difficult for the C-Suite: risk and ROI. 3:21 🤕 Determining the overall profitability of a virtual branch and getting accounting systems in alignment is not easy. 05:20 Link Connect with David: www.linkedin.com/in/dlpspeaks…
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Innovation Driven Growth
1 23. The Importance of Strategically Framing Fees 9:36
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9:36😤 Thinking about banking as a dry-cleaner shop: no one complains about fees at the dry-cleaners. 01:13 🔔 Bankers failed to show the value of the services they provide to customers. 2:50 🆓 Banking services and word free were used together for years. 3:47 🎯 How do you drive the story of value to your customers? 05:46 Link Connect with David: www.linkedin.com/in/dlpspeaks…
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Innovation Driven Growth
👉 David became a Chief Innovation Officer of FNBB: he started with 10 innovation workshops. 00:48 🧑💻 Change in demographics: millennials and Gen Z's have unique banking needs. 01:49 🧐 What are the benefits of innovation? 02:38 🤩 6 reasons you should innovate. 3:07 ⚡ New business potential energy in the company. 03:12 📈 Innovation will enable the growth of your business. 04:00 💪 Innovation will make your company more efficient. 04:53 🌟 Innovation will help you create an innovative brand. 05:24 💲 Innovation will help your company in attracting more customers. 06:01 👔 Innovation will help your company in attracting a better workforce. 06:42 🧠 Think about the challenges organizations might face in the coming years. 07:29 Connect with David: www.linkedin.com/in/dlpspeaks Link to mentioned article: https://www.entrepreneurshipinabox.com/8479/6-reasons-you-should-invest-in-innovation/…
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Innovation Driven Growth
1 21. The Impact Of Cognitive Biases On Innovation 36:55
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36:55👉 Impact of cognitive biases on decision-making. 01:01 ✌️ Cognitive biases help us with Information overload, otherwise, it would be impossible to function. 04:07 🧐 The numbing effect of routine or the curse of knowledge. 05:51 👨✈️ The more experienced you are, the more you're likely to be on autopilot. 2️⃣ Two types of cognitive biases: information processing and emotional. 09:17 🤓 A three-step process to get debiased. 11:53 😎 Things you say can trigger you and show you are actually working on a bias. 13:22 🤔 How to overcome and deal with specific bises? 15:54 ✳️ Confirmation bias. 17:01 😉 Conformity bias. 19:00 👂 Ambiguity bias: "The best decision you can make is the right decision. The next best decision is the wrong decision. And the worst decision is no decision." 22:39 🐟 "The opposite of courage is not cowardice, it's conformity. Even a dead fish can go with the flow." 27:14 🌞 Lateral thinking, innovative thinking, tools, and methods to overcome biases. 28:19 🙃 The reverse brainstorming frees all ideas out. 32:24 👀The article mentioned: www.boardofinnovation.com/blog/16-cognitive-biases-that-kill-innovative-thinking 🎩 Six Thinking Hats: https://www.mindtools.com/pages/article/newTED_07.htm ⌨️ Steve Ballmer on iPhone: www.youtube.com/watch?v=eywi0h_Y5_U 🔗Connect with David: 💥 david@davidpeterson.com 🗣️ www.facebook.com/DPSpeaks 📖 David’s book Grounded - www.davidpeterson.com/book/grounded…
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Innovation Driven Growth
1 20. IDG interview Kevin Sasser Director of Sales and Marketing in ArgosRisk 52:59
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52:59😊 Kevin's background and the story about a bad hire day. 02:23 🤯 Making innovative culture interesting: Putting bank regulations in a song "No sleep till Brooklyn, by the Beastie Boys". 05:11 🧐 Consumers are coming to the salesperson more educated about products and services than 20 years ago. 08:06 🔬 Sales professionals now have to know all about the industry, research trends globally, and expand their knowledge base a lot. 09:56 😅 ArgosRisk technology solutions for B2B credit risk management, enabling companies of all sizes to proactively manage and monitor risk. 11:50 🕵️♂️ ArgosRisk and daily third-party vetting - checking out on another business. 14:14 🩹 China syndrome and having only a yearly report of your business partners. 16:23 👍 Having a daily financial report of business partners during pandemic helped ArgosRisk's clients so much.19:02 🎯 How innovation is played out in ArgosRisk evolving? 27:12 🤖 The level of insights that allow businesses to make more informed decisions on who to do business with will expand in the future. 32:42 🪡 Allowing people to use your products, data, and services, tailored is pretty important.40:09 ⚠️ Every kid coming out of college is should read the book Innovator's dilemma 43:28 😎 Looking for ideas on how to innovate? Learn from professionals and join product camp.org 🤩Three nuggets Kevin shares. 46:56 🙃 Gold Leaf's library of funny innovative videos. 49:09 😇 www.argosrisk.com 🙃 www.linkedin.com/in/kevinsasser 📚 www.amazon.com/Innovators-Dilemma-Revolutionary-Change-Business/dp/0062060244 💻 www.productcamp.org 🎥"The China Syndrome" film - www.imdb.com/title/tt0078966 🔗Connect with David: 💥 david@davidpeterson.com 🗣️ www.facebook.com/DPSpeaks 📖 David’s book Grounded - www.davidpeterson.com/book/grounded…
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Innovation Driven Growth
1 19. Stepping Out of Your Comfort Zone – Part 2 with Linda Baskin 46:11
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46:11🎸David played background music for Linda Baskin’s art show in Dayton. 01:14 🖼️ Stepping out of the comfort zone: Linda's paintings had a theme and the show had its own concept. 04:52 🎯 Professional artist and professional musician. 07:39 🙋♂️ Welcome, Linda! 09:12 🎨 The Radical Acceptance art show was about acknowledging the hard times in life but also good, joyful things. 11:29 😃 Linda decided to start painting just 18 months ago. 15:36 🌸 One more example of Linda's stepping way out of her stepping zone. 18:04 🌞 Not knowing everything is the most important to step out of the comfort zone. 22:18 🖌️ Painting 'Faces' was the only painting at the show that was not for sale. 25:01 🧪 Linda's formula for creating a great product. 28:53 🤓 The difference between innovation in a flash or an inspiration of genius, and experimental or interpretive innovation. 35:19 🤩 Cézanne an experimental painter vs. Picasso's flash of inspiration 38:40 🖍️ Linda is Picasso. 43:03 🔥 Be a Picasso or a Cézanne, just don't give up. 43:43 Painting 'Faces': https://postimg.cc/RN9Nf63n Bodazza Studios https://www.bodazzastudios.com/ Malcolm Gladwell – Revisionist History – Hallelujah episode https://www.pushkin.fm/episode/hallelujah/ Connect with David: david@davidpeterson.com Linda Baskin painting: https://prnt.sc/1017orl Link to David’s book Grounded - https://davidpeterson.com/book/grounded/…
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Innovation Driven Growth
1 18. How Sun Can Help You Save Money on Your Utility Bills - with Aviv Shalgi 44:21
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44:21😇 Aviv likes to wake up in the morning and try to solve a problem that nobody else is trying to solve.1:50 👦 He was inquisitive as a child and asked so many questions. 2:56 🌞 The idea behind Solar Simplified. 5:02 ✅ Aviv was not in the solar business before, but he was drawn to it. 🤝 Solar Simplified connects consumers with solar power plants (solar farms) 8:21 ➗ Half of the countries in the US have deregulated markets where private companies are part of the market. 11:08 🔆 Even it is a young company Solar Simplified serves over 1000 households and growing in upstate New York.19:26 ☀️ How Solar Simplified works? 20:21 💰 How to get a guaranteed discount on your energy bill? 21:33 ⭐ In recent Texas events, a megawatt per hour price increased about 500 times more than what it should be. 25:39 💡 The three major challenges in sharing the green wealth with society. 28:53 😎 Bill Maher issues with getting solar energy and how Solar Simplified would help in that case. 31:23 💚 Solar Simplified has an idea to be green and save money too as many people as possible in the future 5 years. 35:32 👍 Continue asking questions, continue to be curious, and learn what money is and how the system really works. 37:53 🖥️ Take a minute to sign up on a Solar Simplified site so we can spread our network and save you money. 41:48 https://solarsimplified.com/ https://www.linkedin.com/in/avivshalgi/ https://www.facebook.com/solarsimplifiedusa https://www.instagram.com/avivshalgi/?hl=en…
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Innovation Driven Growth
😂 Gatherings with my sister Linda and brother Larry are always filled with fun, jokes, and love. 🎨 My sister Linda is an amazing painter. 3:06 🖼️ Linda Baskin Art Show preparations. 5:35 🎶 David is going to do background music for Linda Baskin’s upcoming art show on March 27th. 6:15 🎸 David Musical background – learning to play guitar is not easy. 8:17 🎼 David has never performed a “concert” alone, but he embraced music from his college days until today. 11:09 👌 Popular music sets an “expectation” of what those songs are supposed to sound like. 15:06 🤔 David's book Grounded. Word Grounded has positive and negative meanings. 19:52 😨 We get stuck in our comfort zone because of fear of failure, or fear of embarrassment. 24:38 👣 4 steps to get out of your comfort zone. 26:50 🌠 Wisdom from Roger von Oech - Whack it! 31:16 👆 Get support and get rid of excuses. 33:44 💪 Flesk your risk muscle. 34:27 🗓️ Set a deadline and Be Persistent. 36:12 Connect with David: david@davidpeterson.com Linda Baskin painting: http://prntscr.com/1017orl Linda Baskin Show: https://prnt.sc/109ml4j Link to David’s book Grounded - https://davidpeterson.com/book/grounded/ Wisdom from Roger von Oech – “Whack on the side of the head” - shorturl.at/lvQVX…
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Innovation Driven Growth
1 16. IDG Interview with Ryan Green, CEO of Gridwise 50:39
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50:39🛫 Ryan is an ex-naval flight officer and after the military, he started working in the banking niche. 1:01 🚖 Driving for Uber and Lyft after the military was an amazing experience in gig working and gig economy for Ryan. 3:03 💵 Gridwise app is focusing on the ride-share and delivery area of the gig economy by helping drivers boost their profits. 4:34 🙃 When Ryan worked as a gig driver, he realized that the core problem is in the fragmentation and inaccessibility of key data drivers need to have. 09:08 👦 Ryan was intrigued with sales from a young age, and he continued with his entrepreneurial ideas in sixth grade too. 12:27 ✨ What can you do to affect the young population and spark innovative and entrepreneurial thinking in them? 14:03 📱 How GridWise was made, and how the app succeeds to answer all needs drivers have. 18:13 😇 Gridwise app helps, even with estimated tax deductions for drivers, and it is free. 24:06 🛣️ Marketing for the app started from personal advertising all the way to digital advertising channels. 29:01 📊 Harvesting metadata and analytics from the app are valuable for other stakeholders but also a significant source of new revenue income. 30:53 📅 About the future of gig drivers. 35:14 💲 Gridwise will help drivers earn more profit directly from their platform in the future. 37:40 📈 In five years from now, Ryan plans to add more insurance products, financial services, income protection, phone protection, in healthcare and other benefits to his app. 39:04 🔥 Ryan's advice for future entrepreneurs. 45:30 ✌️ Do not forget to tip service drivers in these hard times and mention Gridwise to help them even more. 49:07 Links https://gridwise.io/ 🔗Connect with David: david@davidpeterson.com https://www.facebook.com/DPSpeaks/…
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