Many business associations are concerned about membership due to competition from Internet offerings slicing away one of the biggest benefits, education. So, where’s the value? Before working on value propositions, we need adequate funds to operate. Here are 13 sources of cashflow:
Dues – consider creating levels so all in the sector can afford to belong.
From National – Chapters and affiliates whose dues go through national may wish to renegotiate the percentage shared locally.
Sponsorship – Are the vendors to your industry supporting the group? Be sure to have levels here. As well.
Event fees – While you may wish to have free social events, they should be covered by sponsors.
Auctions – Silent and live auction items at an annual dinner or picnic can be lucrative.
Educational fees – If the content has value, there should be a charge. Or, get it sponsored.
Advertising – Sell space on the website and in the newsletters both print and digital.
Products – Sell products with your logo on them. Cups, shirts, screensavers, the sky’s the limit.
Member benefits commissions – Enjoy a commission on vendor services to members.
Publications – Sell the content of all education sessions and event speakers after the event online.
Donations – These are legacy gifts generated best by peer to peer outreach by senior board members.
Grants – Do you qualify for state or federal grants due to your charitable activities?
Interest – While typically small, be sure to place your reserves in the highest earning accounts.
Are you doing everything you can to secure your association’s operating expenses?