Webinar - Club Benchmarking - Efficiency
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| Wednesday, October 19 A Data-Driven Breakdown of the Efficiency vs. Experience Debate Presented by Ray Cronin, Club Benchmarking Founder & Chief Innovator Efficiency is a topic frequently debated in the finance committee meetings and boardrooms of private clubs. Unfortunately, when club leaders become hyper-focused on tightening belts and paring expenses, little or no consideration is given to the impact of such measures on the member experience. Volunteer club leaders tend to fall into one of two camps. The first group has an experience-focused, "let's make this place great" mindset. In the other camp, the priority is to keep dues low and "make the club affordable" so the focus is on managing and even cutting expenses. Club industry data shows that over time, consistently leaning into one camp or the other (efficiency or member experience) has a profound cumulative impact on the club's financial outcomes. In this session, we will explore that classic tension of opposites in the context of the club business and financial model and use data to illustrate how incremental annual differences in a club's operating and capital dues are magnified over time through the power of compounding.
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