What do we need to do to achieve objective 1?
1.
To build up a solid, diversified base of recurrent income;
2.
3.
4.
To stimulate a much higher level of commitment and involvement from member companies, especially
larger ones;
To stabilise the two largest cost elements i.e. salaries and rent (respectively 60% and 16% of existing costs); To establish itself in a well known, convenient, economical location;
5.
To strengthen the Chamber's leadership, direction and organisation structure;
6.
To fund anticipated cash needs.
How should we accomplish these aims?
1.
To build up a solid, diversified base of recurrent income
Boost subscription income
In common with similar chambers of commerce which do not rely on significant government funding, the great majority (85% in our case) of revenue is likely to continue to be derived from subscription income. The increase and retention of members should therefore be a prime target and will be achieved by:
90% penetration of a total estimated British corporate market of say 600 entities including an intensive campaign both in Hong Kong and Britain to fill in gaps of significant non-members; further penetration of the non-British associate market (ensuring that the Chamber's "Britishness" does not get diluted thereby);
identifying and researching the needs of little penetrated sectors (e.g. exporters and companies operating solely in China);
a “merger" with the Association for British Commerce in China (see below).
Increase income from other sources (leveraging off additional membership) through:
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increased relevance/better marketing of lunches and cocktails stimulating higher attendances; more focussed seminars;
initiating short breakfast and early evening briefings and forums;
regular and relevant missions, particularly to China;
more and better quality publications that add value to members' business; providing research facilities and selling ad hoc consultancies;
continuing to press for a share of the "certificates of origin” market and to search for other similar · sources of income.
2
To stimulate a much higher level of commitment and involvement from member companies, especially larger ones
This aim should largely be fulfilled as a result of the implementation of the revenue generating actions outlined above and, in particular, the proposals under objective 2 on adding value. Objective 4 actions dealing with ambivalent attitudes and PR campaigns will also be pertinent.
We could also set as a specific objective persuading, say, 10% of member companies' British staff to participate via Chamber committees, functions etc.
No comments yet.
Private notes are available after approval.