Why are club boardrooms often filled with opinions rather than facts? Club management and boards are more likely to achieve alignment and work together productively if everyone is speaking the same language. Unfortunately, a disconnect often exists between the way finance is discussed in the business world and what the Directors, Officers and Committee Members hear when they step into the club boardroom.
Every club must measure cumulative financial results over time. These measures ultimately live on the club’s balance sheet. Part II of the course will address the simple, powerful metrics every Manager must use to assess their club’s financial stewardship over time. The financial value of 50% of clubs has declined over the last ten years and most are not even aware. “Best in Class” mission centric clubs are the clubs increasing financial value over time by focusing more time on the balance sheet and less time on the income statement.
Why do members join clubs? There is little data to support why members join clubs – clubs think they know, but data-gathering in the membership area is literally non-existent. Motivation is the beginning to understanding member loyalty and in between those is value, satisfaction, and member attachment. Understand why each of these are important in the Club world of membership recruitment and retention.
Part IV of the course is designed to answer a critical question for your club: “Are we staffing the club at a level that balances our financial results and the service expectations of our members?” This will provide you with an intensive, data-driven study of private club trends in staffing and compensation and how those trends relate to club finances. You will leave with standard tools for measuring your staffing levels, peer comparisons, and key insights for improving organization development and budgeting for the greatest asset in your club; your staff.
Three industry professionals from Club Benchmarking will present this four-part course, covering many aspects of your club’s operations and measuring thereof.