Best Practices and Peer Groups for Private Club Managers and Board Members
Dictionaries define best practices as procedures that have been shown by research or experience to produce optimal results and are suitable for wide spread adoption. Best practices are outcome oriented. While circumstances and adoption rates vary, we have been accumulating and analyzing the preferred practices of the most successful Clubs in our home market of greater Boston for more than a decade. We believe the success of these Clubs is driven by the practices they employ. We have developed a Best Practice Audit survey to share what we have learned and to gather additional thoughts. We hope you take the survey to see how your Club stands and that you provide feedback on these or other practices. A link to a survey is at the end of this note.
Since starting a Peer Group of General Managers, Club Treasurers and Controllers from more than a dozen Clubs around greater Boston a little over ten years ago, we’ve seen the value of gathering Board members and Managers from local markets. The participants tend to know a bit about each Club and are curious to learn more. While all the Clubs are successful, there was something to gain from friendly “competitors”. The sharing of market observations, financial information and best practices among Board members and Managers proved to be very valuable and difficult to replicate in less local or direct ways. It also served to create a greater camaraderie among the Clubs and a willingness to share information on an ongoing basis.
We believe firmly in the value of Peer Groups and are prepared to help facilitate them in other markets.
Let us know your thoughts and we are happy to discuss the results with any Private Club that completes it.
Club Board Professionals is a strategic financial consulting and training firm. The Principals, Dave Duval and Joe Abely, assist clubs achieve excellence in three areas: governance, financial sustainability and membership satisfaction. Contact us for a complimentary initial assessment of your club.
© 2017 Club Board Professionals. All Rights Reserved