My professional organization, the Society of Government Meeting Professionals, has had to make some tough choices about budgeting for the upcoming year. Of course we want to serve our members, grow our organization and thrive, but this costs money to do. Our board voted to have all of our planner members pay to attend a monthly meeting. It was a tough decision, but I do believe it is for the best. You can view the announcement here.
Managing a budget is not easy for anyone. Organizations, event planners, and households are all trying to maintain a balanced budget. The cost of doing business is rising and we are having to make tough decisions about what projects to fund, where our money should be spent, and what to do when the income stream slows. It's not easy, but we often have to say "no" to requests.
Any expenses that are incurred have to be paid for somehow and often that is passed onto our members or our clients. It's certainly not easy, but it is necessary. Here are some tips for keeping your organization on track.
Make it your mission
Be sure that your expenses are fully supporting the mission of your organization. Often we have things that we want to do, but it might not advance our mission, so make sure that you're focused on your mission.
Prioritize
Make a list of all the things you plan to spend for the year and then prioritize it. This will show you the things that are need to have versus want to have. You might find that having food at your meeting isn't a priority.
Fundraise!!
Fundraising is not easy to do, but is essential to support your group. Find creative ways to fundraise that will attract members from your organization and even outside your organization. There are untapped resources that you don't even know about.
Say no
Sometimes this is essential. If it's not in the budget then you can't spend money on it. It seems simple in theory, but becomes more difficult in practice. When it comes to budgeting you can't be afraid to say no. Luckily, SGMP has a great treasurer that is not afraid of saying no!
So I want to know, how do you assess the priorities of your organization? How do you decide what to spend your money on? And what strategies are you using to say no to expenses that you want to fund?