Rarely has it been written that a financial institution has to be hip to succeed.
Even less common is the idea that all a business needs to get hip is a little perspective.
Yet, in any business category — finance, media, construction, retail, whatever – it can be difficult to assess what's going on outside the walls of your operation. When you are inside, it is hard to get a complete picture of the market.
"Those dweebs in IT don't understand our business area."
- Executive handling a major line of business at a mid-sized bank
"Yeah, but those starched shirts don't understand technology."
- Response from the information technology manager
Those aren't actual quotes -- but they are representative of comments Scott Sommer, the president and CEO of Cornerstone Advisors, says he hears from many financial institutions these days.
Sommer blogged about these attitudes yesterday on Cornerstone's Gonzo Banker blog. In the post, he pointed out a fundamental divide between executives running various lines of business and the IT group that ostensibly supports their efforts to modernize.
A great football coach is many things: Organized. Driven. Cool under pressure. Willing and able to help each team member reach his full potential, on and off the gridiron.
The qualities that make a coach a winner often are useful in other lines of work, too – that's why so many coaches write business leadership books.
But, as smart and effective as so many football coaches are, they would make poor technology partners.
Admittedly, this hypothetical situation is outlandish – it's unlikely Bill Belichick will be looking for work in the tech sector after he's done with the Patriots — but in case any of your prospective tech vendors have football coaching in their resume, here's what to look for – and avoid.
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