19/9/11
Other than being at the top of the Member Traffic Lights I mean!
I was playing with BNI Connect today, working my way around it, looking at groups, search, profiles and all sorts of useful stuff and then I got to connections. Who should I connect with I thought. Well I tried a few of the names that popped into my head and found that not many of them were there. And, then I had an idea: how about the top person in the Member Traffic Lights from every chapter in my region?
After some research, I had 21 names and set about asking if they would like to connect with me. The amazing thing was that 20 out of the 21 were active on BNI Connect. And this resulted in more thinking ...
To get the best from your chapter, from BNI, you need to take part - to use all of the tools provided. These members are not only top of the Traffic Lights but they are also using BNI Connect. I know that the two things have to be linked! Don’t you?
So, are you getting the very best from your chapter? And, if not, are you using all of the tools provided?
If you are not I suggest you have a good look at your position on the Member Traffic Lights and get on to BNI Connect without delay.
Monday 19 September 2011
Sunday 4 September 2011
Short of money!
4/9/11
I was talking to a Chapter Director recently and they said that their chapter always seemed to be short of money. I asked the usual questions: do all of the visitors pay?, are all the members up to date with their meeting fees?, were they spending money on items they shouldn’t?
It seemed everything was pretty much in order so I started to dig a little deeper. I discovered that for years the chapter had not been run like a business and they had no idea what their costs were or had allowed for things to go wrong. They are not the first chapter to be short on funds and no doubt won’t be the last. So, I thought I would share my ideas on how to run a financially sound chapter.
Firstly, you need to know the chapter’s basic costs: in my region that is two full team trainings, three Leadership Team Forums and one Chapter Director Forum. In total this currently adds up to about £700 per year. Then you need to add something for things that go wrong: visitors not paying and yes, sometimes, members not paying. How much? Good question: your guess is as good as mine, but at least £100 per year. On top of that you might have other costs: stamps, socials, photocopying, not charging your AD a meeting fee, etc. As you can see the chapter’s costs could easily be getting on for £1000.00 per year.
So, how do we pay for this? Well, there is only one way: by charging more than your venue is charging you. I would suggest that you charge £2.00 more per member than you are being charged. Then the maths is easy.
Let’s say that the venue is charging the chapter £8.00 per member each week. No room hire costs – that’s really important. And, no minimum numbers if you can manage it. Add the £2.00 and the sum goes like this.
£8.00 plus £2.00 equals £10.00, times this by 51 meetings per year and you get the cost for a member per year - £510.00. Now divide this by 12 (months) and you have your cost to members, in this case £42.50 per month. I would further suggest that any member paying weekly with cash should pay more.
Two things to consider: 1) most chapters only charge visitors £10.00 so this needs to be taken into account, 2) VAT. Does the price quoted to you include VAT? If not it would add £1.60 to the £8.00 in my example – which means another £6.80 needs to be added to the monthly meeting fee per member. Suddenly £49.30 per month instead of £42.50.
And finally, your aim should be to have a bank surplus of around £500.00.
I was talking to a Chapter Director recently and they said that their chapter always seemed to be short of money. I asked the usual questions: do all of the visitors pay?, are all the members up to date with their meeting fees?, were they spending money on items they shouldn’t?
It seemed everything was pretty much in order so I started to dig a little deeper. I discovered that for years the chapter had not been run like a business and they had no idea what their costs were or had allowed for things to go wrong. They are not the first chapter to be short on funds and no doubt won’t be the last. So, I thought I would share my ideas on how to run a financially sound chapter.
Firstly, you need to know the chapter’s basic costs: in my region that is two full team trainings, three Leadership Team Forums and one Chapter Director Forum. In total this currently adds up to about £700 per year. Then you need to add something for things that go wrong: visitors not paying and yes, sometimes, members not paying. How much? Good question: your guess is as good as mine, but at least £100 per year. On top of that you might have other costs: stamps, socials, photocopying, not charging your AD a meeting fee, etc. As you can see the chapter’s costs could easily be getting on for £1000.00 per year.
So, how do we pay for this? Well, there is only one way: by charging more than your venue is charging you. I would suggest that you charge £2.00 more per member than you are being charged. Then the maths is easy.
Let’s say that the venue is charging the chapter £8.00 per member each week. No room hire costs – that’s really important. And, no minimum numbers if you can manage it. Add the £2.00 and the sum goes like this.
£8.00 plus £2.00 equals £10.00, times this by 51 meetings per year and you get the cost for a member per year - £510.00. Now divide this by 12 (months) and you have your cost to members, in this case £42.50 per month. I would further suggest that any member paying weekly with cash should pay more.
Two things to consider: 1) most chapters only charge visitors £10.00 so this needs to be taken into account, 2) VAT. Does the price quoted to you include VAT? If not it would add £1.60 to the £8.00 in my example – which means another £6.80 needs to be added to the monthly meeting fee per member. Suddenly £49.30 per month instead of £42.50.
And finally, your aim should be to have a bank surplus of around £500.00.
Thursday 1 September 2011
I’ll have a coffee please!
1/9/11
What’s a coffee cost these days? £2.10p? More? And, in the course of a One2One how many cups might you drink? Two? Then how about your average business week: how many cups might you drink in total?
I mention this because of something I heard this week. A chapter needed to put up their weekly meeting fees and it caused something of a fuss. Now I don’t know about you, but I think our weekly meeting fees are very good value – at my chapter they are currently about £50.00 per month.
For this we get a meeting room for up to four hours every week, often storage for our BNI boxes, sometimes the use of a flipchart, a venue that opens at 6.00am, plus all sorts of other things. And, a breakfast - all in my chapter's case- for £11.75 per week. Now that has got to be great value in anybody's book!
So, I have to say that it always amazes me that members complain when a chapter needs to put up its meeting fees, as in most cases it is never by more than the cost of one coffee per week.
Furthermore, what an investment the cost of that extra ‘cup of coffee’ is: the opportunity to do business with dozens of business owners and thereby make more money for our company.
Plus meeting fees should be looked at as an investment, not a cost. Chapters only put up fees when they need to and I think that you will agree with me, if you think about it, that at less than the price of a coffee that there is nothing to make a fuss about!
What’s a coffee cost these days? £2.10p? More? And, in the course of a One2One how many cups might you drink? Two? Then how about your average business week: how many cups might you drink in total?
I mention this because of something I heard this week. A chapter needed to put up their weekly meeting fees and it caused something of a fuss. Now I don’t know about you, but I think our weekly meeting fees are very good value – at my chapter they are currently about £50.00 per month.
For this we get a meeting room for up to four hours every week, often storage for our BNI boxes, sometimes the use of a flipchart, a venue that opens at 6.00am, plus all sorts of other things. And, a breakfast - all in my chapter's case- for £11.75 per week. Now that has got to be great value in anybody's book!
So, I have to say that it always amazes me that members complain when a chapter needs to put up its meeting fees, as in most cases it is never by more than the cost of one coffee per week.
Furthermore, what an investment the cost of that extra ‘cup of coffee’ is: the opportunity to do business with dozens of business owners and thereby make more money for our company.
Plus meeting fees should be looked at as an investment, not a cost. Chapters only put up fees when they need to and I think that you will agree with me, if you think about it, that at less than the price of a coffee that there is nothing to make a fuss about!
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