By Mark Haeussler
When is the last time that you really examined the quality of the conversations happening around your boardroom table? If you were a fly on the wall during the average credit union board meeting, you’d probably observe the conversation is typically either reflective or reactive, but rarely speculative. Let me explain what I mean by these terms, and why speculative conversation may be just the ticket to better decision making and better outcomes.
A reflective conversation looks backward, addressing the question “How did we get here?” While it can be useful to look at lessons learned, dwelling too much on what has already happened can be a barrier to moving forward.
In contrast, reactive conversations are about taking action—go, go, go. As a young boy, I was drawn to paramedics and now I am a certified EMT. We get to swoop in and be heroes, which is very rewarding. Reactive conversations are much like this—they give the board an opportunity to metaphorically wear a white hat and save the day.
The problem is, this is not the best use of the board’s time. If they are needed to perform rescues on a regular basis, that means there are breakdowns someone else should be preventing. The board should have the role of fire chief, not firefighter—looking ahead and identifying opportunities on a larger, long-term basis.
This is where speculative conversation comes into play, and is the missing link between reflecting on the past and taking action. A speculative conversation sounds like this: We understand how we got here. Given what we know, what is possible?
Many of us are not practiced in having a speculative conversation. That’s the challenge. We get a couple minutes into it, and someone is ready to move into action. This is where you need to work together to stay in a speculative mode, considering options and various applications of ideas, while resisting acting too soon.
It can be difficult to distinguish the difference in the conversations, so examples are useful. I once consulted with a military credit union considering a merger with a community chartered credit union. Here is a sample of the issues raised during speculative conversation:
- What image or brand would work well with this new hybrid organization?
- How can we not alienate our core business while serving our new business?
- In what ways could this merger help us or hurt us?
Speculative conversations allow you to look at many possibilities and imagine your future. It may result in challenges to your existing business model or reveal new business opportunities. Unified with a shared vision, you’ll find it easy for the board to transition into action.
Mark Haeussler is president of DDJ Myer’s Advancing Leadership Institute.
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