Okay, if growth is what we want for our membership, what do we do to get it?
Several years ago a book came out that I enjoyed. I liked it because it clearly outlined strategies that I had long believed in as foundational to generate growth.
The book is, Double-Digit Growth: How Great Companies Achieve It--No Matter What, by Michael Treacy
Treacy articulated five disciplines that led to double digit growth for organizations. They are:
1. Keep the growth you already have earned.
2. Take business from your competitors
3. Show up where growth is going to happen
4. Invade adjacent markets
5. Invest in new lines of business
I don’t think that the book caught hold in the non-profit market. We don’t like to talk about “taking” business from other associations or “invading” markets. Nevertheless, there is wisdom in his recommendations.
So in the association membership context, I might translate his disciplines to:
1. Retain your current members
2. Present your value proposition in your marketplace
3. Stay on the cutting edge of your industry or field
4. Expand to new markets
5. Expand your product lines
I hope to take a look at some of these growth strategy disciplines over the next few posts. But first let me know if I am missing something in this list?
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2 comments:
I like your adaptation of the five disciplines. But, for #3, is "cutting edge" enough? That might imply that the growth is happening among the most experienced segments. If you're showing up where the growth is going to happen, you'll likely need to appeal to a less experienced crowd. What do you think?
Good question. What I should have better conveyed is the need to be engaged with the fastest growing market segments of your field or industry. Even in industries where we tend to think that groth has stagnated, there are some pockets of very exciting things. Finding those and being a part of it can lead to growth for an association.
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