- Joined
- Jul 29, 2011
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Funding the Association
To be effective the association must have both a representative membership base and also the funds to fulfil the vision and direction provided by the board. There is little point in running an association that either prices itself out of its market or does not have the buy-in of the wider industry at large.
The proposed fee structure is to be based upon the Class and category of membership. Annual membership fees range from as low as $250 for a small individual domain owner doing less than $10K in sales per year up to $25K for a large company doing in excess of $5m in revenue.
By having the annual fees linked to a Class and category (eg. A, B or C) of membership means that the association is affordable to the broad spectrum of the industry. From the previous article I indicated that the members within each of the categories can also nominate for board election to represent their constituency.
There are four major areas of the cashflow.
1. Drivers – new members and total number of members.
2. Income from membership fees – other potential incomes have been ignored.
3. Expenses - what it will cost to run a lean business with a reasonable CEO package.
4. Profit and cashflow – results if the targets specified from the above are met.
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