By Lisa Hochgraf
A former bank employee, Terence Roche said he used to overstate the resources he would need to develop a new product or channel by 50 percent "just to get the conversation started and to give the project visiblity."
A principal with CUES Supplier member and CUES strategic provider Cornerstone Advisors, Scottsdale, Ariz., Roche said he'd get resources for development twice out of 10 times. And having full resources for success for a couple of projects was preferable in his mind to having insufficient resources for more projects.
Presenting to the 35 attendees at the new CUES School of Product and Channel Management today in Schaumburg, Ill., Roche encouraged attendees to push for lively conversation about new products and channels being considered, including how you will "reload the resources" to be able to be successful at adding something new.
"What are we willing to displace that we’re doing now to accommodate working on this new thing?" is the question Roche suggested attendees ask in their development meetings.
If you find out your credit union needs to add people to make the project fly successfully, have that conversation, Roche encouraged. "There’s a lot of give and take in this," he said. "Start the debate about what to do."
Lisa Hochgraf is a CUES editor.
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