Four Keys to Financial Success for NSA Chapters Chapter Leadership - - PDF document

four keys to financial success for nsa chapters
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Four Keys to Financial Success for NSA Chapters Chapter Leadership - - PDF document

Four Keys to Financial Success for NSA Chapters Chapter Leadership Institute What Chapter Leaders What Chapter Leaders need to know about Money need to know about Money With Stephen Tweed, CSP With Stephen Tweed, CSP 2002 2002- -2003 NSA


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Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute

What Chapter Leaders What Chapter Leaders need to know about Money need to know about Money

With Stephen Tweed, CSP With Stephen Tweed, CSP 2002 2002-

  • 2003 NSA President

2003 NSA President

Chapter Leadership Institute

“ “Chapter Leadership Institute 2007 Chapter Leadership Institute 2007” ”

My My Head Spins Head Spins … … Over Over “ “Financial Financial” ” Stuff! Stuff!

Chapter Leadership Institute

  • 1. Frame Your Financial
  • 1. Frame Your Financial

Systems Systems

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Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute

  • 1. Frame Your Financial
  • 1. Frame Your Financial

Systems Systems

  • Review Your Chart of Accounts

Review Your Chart of Accounts

  • Establish your checking account

Establish your checking account procedures procedures

  • Define your bill paying procedures

Define your bill paying procedures

  • Create your expense authorization

Create your expense authorization procedures procedures

  • Decide where to put your investments

Decide where to put your investments

Chapter Leadership Institute

Find a Find a “ “green eye shades green eye shades” ” member to be Treasurer member to be Treasurer

Chapter Leadership Institute

  • 2. Build Your Budget
  • 2. Build Your Budget
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SLIDE 3

Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute

  • 2. Build Your Budget
  • 2. Build Your Budget
  • Plan First!

Plan First! ---

  • -- Then Budget

Then Budget

  • Project your annual revenue by income

Project your annual revenue by income source source

  • Plan your annual expenses by line item

Plan your annual expenses by line item

  • Communicate your budget to officers and

Communicate your budget to officers and committee chairs committee chairs

Chapter Leadership Institute

Action Item Action Item

  • Make a list of the sources of

Make a list of the sources of revenue for YOUR chapter. revenue for YOUR chapter.

  • How much money does

How much money does YOUR chapter need to YOUR chapter need to “ “net net” ” in your year as President? in your year as President?

Chapter Leadership Institute

Annual Board Retreat Annual Board Retreat

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Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute Chapter Leadership Institute Chapter Leadership Institute

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Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute

3. 3. Focus on Focus on Revenue Revenue Over Over Expenses Expenses to get to get Profit Profit

“ “You can You can’ ’t Save Yourself t Save Yourself into Prosperity into Prosperity” ” Stephen Tweed Stephen Tweed

Chapter Leadership Institute

  • 3. Focus on Revenue over
  • 3. Focus on Revenue over

Expenses to get Profit Expenses to get Profit

  • Focus on revenue generating events

Focus on revenue generating events

  • Build a budget for each event

Build a budget for each event

  • Set a fund balance goal

Set a fund balance goal

  • Determine how you will use your surplus

Determine how you will use your surplus

Chapter Leadership Institute

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Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute

  • To help local business owners, executives, professionals,

To help local business owners, executives, professionals, and community leaders improve their public speaking and community leaders improve their public speaking skills. skills.

  • To increase the visibility and brand awareness of NSA KY

To increase the visibility and brand awareness of NSA KY in the greater Louisville area. in the greater Louisville area.

  • To create a showcase where NSA KY members can

To create a showcase where NSA KY members can demonstrate their skill to local business and community demonstrate their skill to local business and community

  • leaders. To generate significant non
  • leaders. To generate significant non-
  • dues income for NSA

dues income for NSA KY. KY.

  • To generate significant non

To generate significant non-

  • dues income for NSA KY.

dues income for NSA KY.

Presentation Skills Workshop Presentation Skills Workshop Goals: Goals:

Chapter Leadership Institute

Results Results

  • 85 business leaders and sales people

85 business leaders and sales people attended attended

  • 5000 brochures mailed

5000 brochures mailed

  • Partnered with MPI, KSAE, ASTD, SMA

Partnered with MPI, KSAE, ASTD, SMA

  • 12 members presented

12 members presented

  • $2,900 added to chapter treasury

$2,900 added to chapter treasury

Chapter Leadership Institute

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Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute

4.

  • 4. Measure and Manage

Measure and Manage Your Financial Results Your Financial Results

“What gets measures get managed… What gets rewarded gets repeated.” Stephen Tweed, CSP

Chapter Leadership Institute

  • 4. Measure and Manage
  • 4. Measure and Manage

Your Financial Results Your Financial Results

  • Prepare a monthly financial report

Prepare a monthly financial report

  • Profit & Loss Statement

Profit & Loss Statement

  • Balance Sheet

Balance Sheet

  • Make the financial report a regular agenda item

Make the financial report a regular agenda item for board meetings for board meetings

  • Provide financial reports to chapter members

Provide financial reports to chapter members

  • Prepare an annual audited financial statement

Prepare an annual audited financial statement

  • Build next year

Build next year’ ’s budget s budget

Chapter Leadership Institute Account Balances As of 6/30/2012

Bank Accounts Checking $ 775.82 Savings $8,733.65 Paypal $1,325.07 Investment Accounts CD $11,033.24 OVERALL TOTAL $21,867.78

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Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute

Profit & Loss Statement Profit & Loss Statement

Chapter Leadership Institute Chapter Leadership Institute

Questions? Questions?

? ?

?

?

? ?

? ?

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Four Keys to Financial Success for NSA Chapters

NSA Chapter Leadership Institute 2012

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Chapter Leadership Institute

Keepers Keepers

  • List the three things from this program that

List the three things from this program that have the most have the most “ “take take-

  • home

home” ” value for you. value for you.

  • What are you going to do with these

What are you going to do with these “ “keepers? keepers?” ”

Chapter Leadership Institute

Stephen Tweed, CSP Stephen Tweed, CSP CEO CEO Leading Home Care Leading Home Care … … a Tweed Jeffries company a Tweed Jeffries company 9750 9750 Ormsby Ormsby Station Road Station Road Louisville, KY 40223 Louisville, KY 40223 www.leadinghomecare.com www.leadinghomecare.com Stephen@leadinghomecare.com Stephen@leadinghomecare.com

Chairman, Board of Trustees, NSA Foundation Chairman, Board of Trustees, NSA Foundation Cavett Cavett Award Winner Award Winner – – 2012 2012 President, NSA KY President, NSA KY – – 2008 2008 Treasurer, Global Speakers Federation Treasurer, Global Speakers Federation -

  • 2007

2007 President, National Speakers Association President, National Speakers Association -

  • 2003

2003