Booms and Busts from 14 Years in Business - Association Hustle Episode 277 (7m 31s) - The Moery Company

 

The Moery Company marks its 14th anniversary. What has Founder and CEO JP Moery learned (the bad and the good) from the process? He touches on thought leadership, sales, and client management.

 

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Hello and welcome to JP Moery’s Association Hustle Podcast. President of The Moery Company, JP’s mission is to arm today’s associations with insight and strategy to thrive and a progressively complex and competitive business landscape. 21st century associations must move forward with a little bit of hustle and revenue development at their core.

Here’s JP.

The Booms:

#1: Thought leadership marketing. Videos, podcasts, and e-newsletters changed my business forever. It’s inexpensive. It provides you content that you can forward to clients, and don’t forget that everyone on your team can be a thought leader.

#2: If you don’t have sales, you don’t have a business.The more business you get makes you better at delivering value and improving programs.

#3: Diversification of revenue. Our core business has always been selling memberships, sponsorships, exhibits, and ads. Three years ago, we intentionally grew our consulting program based on what we had learned from selling. So now I’ve got two different businesses operating here, and that really helped us.

#4: I did not rely on one client to make or break us.

#5: Retainer for sales required. This saved us during the pandemic.

#6: Virtual workplace and flexibility.

#7: Only take full year 90-day out contracts for sales.

The Busts:

#8: For years, I sold the services of the company. When I hired somebody to focus on that, we became a better business for it.

#9: Way too many responses to RFPs. I can’t serve a client well if this is all going through a PDF document.

#10: Speaking at ASAE and other events for free (and it’s not their fault). I’d rather use my own platform or just charge someone. It saved me time.

#11: Too many projects that weren’t going well, and I could have saved time by ending them.

#12: I respected the chain of command in the clients way too much. At the end of the day, you need to do all you can to be successful and perform for the client.

#13: I didn’t watch cash flow early on in the business. My recommendation is to get paid up front or at the beginning of the month, rather than billing at the end.

#14: I needed the business or thought I needed the business so bad, I signed bad deals, and then my staff had to deal with the aftermath.

We hope you enjoyed this edition of JP Moery’s Association Hustle Podcast. We’d love to connect with you. Check out our blog at moerycompany.com and subscribe to our weekly newsletter. You can also connect with JP on LinkedIn and Twitter at @JPMoery, as well as The Moery’s Company’s Instagram and Facebook page. To purchase a copy of JP’s book, Association Hustle: Top Strategies for Association Growth, go to JPMoery.com.

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