Strategic Planning for Associations. Prepared by: Joseph Bushey Online: CummingsManagement.com Phone:

Transcription

1 Strategic Planning for Associations Prepared by: Joseph Bushey Online: CummingsManagement.com Phone:

2 Ground Zero Mission Statement Mission Statement: Should Answer Why do we exist as an association? Core Values The interests of the Membership Serves as the Driving force for Decisions of Board Mission Statement: (Sample) To Protect and to Improve the Property Values of the Association to create the most desirable community in the area.

3 Step 1--Vision Key Ingredients: Where do we want to go? What do we want to achieve? How long do we want it to take? 3-5 years is a good benchmark **Hint: The Vision should be where you want to go, not stating where you already exist. It should give room to improve the current reality Vision of Organization: (Sample) To have a community that functionally maintains the property & amenities in such a manner that ensures consistency from on year to the next.

4 Step 2 Current Assessment SWOT S. Strengths: (Sample) 1. $100,000 in Reserves 2. Long Term Board of Directors 3. Low Turn Over-Happy owners 4. Low Delinquencies 5. No Assessments in history of association Common Strengths to Consider: Experienced Board Quality Construction Amenities Age of Community Relationships with Vendors such as Management, Legal Representative, Grounds, Insurance Agent, Contractors and others

5 Step 2 Assessment SWOT Common Weaknesses to Consider: Retaining/attracting Board Members Quality of Construction Amenities Age of Community Relationships with Vendors such as Management, Legal Representative, Grounds, Insurance Agent, Contractors and others W. Weaknesses: (Sample) 1. Poor Communications with Membership 2. Roads are in bad shape 3. Lacking Curb Appeal 4. Roofing is starting to show age 5. Little/No Board Member Training 6. No Social Activities 7.

6 Step 2 Assessment SWOT O. Opportunities: (Sample) 1. Community Pot Luck 2. Establish Community Website 3. Road Improvements 4. Produce a Reserve Study Common Opportunities to Consider: Improved Communications Formalized Procedures Interaction with Membership Improved Upkeep of Common Areas Meeting Frequency/Order of Meetings

7 Step 2 Assessment SWOT Common Threats to Consider: Lack of Communication No Formalized Procedures Little Interaction with Membership Status of Common Areas Frequent Meetings & long agendas T. Threats: (Sample) 1. Market/Economic Conditions 2. Future Assessments due to lack of Reserve Funding 3. Location 4. Physical/Architectural Design 5. 6.

8 Step 3 Goals Goals (Sample) 1. Improve Curb Appeal 2. Increase Reserve Funding 3. Improve Communication with Membership Goals* Key points Prioritized from SWOT Be Specific Must be Attainable Must Be Measurable Assign a Deadline *Goals are set to attain the Vision of the Association

9 Step 4-Plan Goal 1. Improve Curb Appeal (Sample) Plan to Achieve: What/How: Improve Roads/Re-Roof all Buildings Who: Board & Local Vendors When: Roads: 1-2 years, Roofs: 3-7 years Ways to Measure: Roads: Sq Ft of Roads Resurfaced. Roofs: # of Roofs completed Goal 2. Increase Reserve Funding (Sample) Plan to Achieve: What/How: Raise reserve fund to $150,000 in 5 years Who: Board/Treasurer/Financial Committee/Financial Institutions When: Start ASAP Ways to Measure: Balance Sheet & Bank Statements

10 Step 4-Plan, Continued Goal 3. Improve Communications (Sample) Plan to Achieve: What/How: Send Quarterly Newsletters via Distribution List Who: Secretary/Communications Committee When:1-3 months to develop Ways to Measure: Newsletters sent, % of community on the list Goal 4 Plan to Achieve: What: Who: When: Ways to Measure:

11 Step 5 Do While Doing the Work Remember to: Document the work Stick to the deadlines Report Milestones: Great Annual Meeting Discussion! Reward/Appreciate all Involved (not a highly paid position) Implement Changes

12 Step 6 Check & Adjust Check: Are Improvements Resulting? Plan 1 (list out results of actions) Plan 2--- Plan 3--- Plan 4--

13 Step 6, Check & Adjust (continued) Adjust: What needs tweaking? Go back to Step 4 for any adjustments and work through on an ongoing basis. After 1 year, look at the Vision and see if things should be adjusted as the environment may have changed. Strategic Planning is constantly evolving. Implementing professional assistance in leading this process might be considered.