Diversifying Revenue Streams to Increase Organizational Value

ABOUT THE TRAINING INITIATIVE

Given the dramatic and accelerated pace of change in recent years, many chamber executives wonder what lies ahead for chambers of commerce and business associations. How will these organizations adapt and evolve over the next decade and how will they ensure their best days are yet to come? Leaders are asking these questions to help guide future development of organizations that serve small businesses and employers.

In collaboration with the Chicago Department of Business Affairs and Consumer Protection (BACP) and a partnership with the Lincoln Square Ravenswood Chamber of Commerce, IACCE is offering a series of professional development workshops to members of IACCE and to Chicago Neighborhood Business Development Centers (NBDCs) that will help build resiliency in these organizations. Attendees who go through these workshops will learn ways in which chambers of commerce/business associations can diversify their revenue streams to increase their organizational value.  These workshops are made possible through BACP's NBDC Peer-to-Peer Training program grant.

We will offer a three part series of workshops that will look at how the recent pandemic challenged existing organization revenue models and share industry best practices on how the pandemic served as a "tipping point" for organizations to rethink their missions, how they operate, and reimagine how they generate revenue.

ABOUT THE TRAINING FACILITATOR

Cathi Hight, a performance improvement consultant with Hight Performance Group, Inc., will provide a series of workshops focused on how chambers of commerce and business associations can diversify revenue streams to increase organizational value.  Cathi has over 25 years of experience working with chambers of commerce and non-profit organizations to facilitate scenario and strategic planning, investor development and revenue models, strategies to rebrand the organization, and communicate the value of membership.  Her diverse career experience includes being SVP of Growth Strategy & Investor Relations for the Greater Austin Chamber, VP of Operations for the Chamber of Commerce of Hawaii, Regional Sales and Marketing Manager for both Dole Foods and Dean Foods, national program manager for the Kauffman Foundation, and a Motorola University Instructor for six sigma, cycle time reduction and benchmarking.

3. More Money for Your Mission
Presented by Cathi Hight of Hight Performance Group, Inc.
Thursday, October 12, 2023 | 10:00am - 11:30am (VIRTUAL) 

Membership dues, events, and sponsorships are the traditional ways to generate revenue. Your organization needs to develop a diversified revenue portfolio that creates sustainable funding for your mission. More revenue means additional staff, services, and reserves for a rainy day or a pandemic. Explore the latest trends in funding models and learn how you can create financial vitality for your organization.

In this workshop, we’ll explore:

• Why a tax-exempt foundation is essential to attract new revenue.
• Ways strategic initiatives can attract investors and community support.
• What other organizations are doing to generate new streams of revenue to support their missions.