Transcript ACG Annual Planning Meeting

Association for Corporate Growth
Pittsburgh Chapter
2009- 2010 Board Strategy Session Results
April 20, 2009
Association for Corporate Growth
National Mission Statement
To promote the professional interests of its members who have leadership roles in
strategic corporate growth by offering a forum for quality programs and education to
enhance each member’s professional skills. ACG members have the opportunity to:
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•
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gain new ideas from speakers, seminars and discussions with people working in the
field of corporate growth
develop additional skills and techniques which will contribute to the growth of their
respective organizations,
meet other corporate growth professionals who can provide counsel and valuable
contacts.
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Association for Corporate Growth
Pittsburgh Chapter Mission Statement
In April 2008, the Pittsburgh Chapter Board agreed upon the
following Mission Statement:
“To serve as a catalyst for organic and transactional
corporate growth in western Pennsylvania
by providing unique opportunities
for education and networking to
business and financial executives.”
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ACG Pittsburgh 2008-09 Results
Membership
% Corporate/ PEG
3/03
8/04
8/05
8/06
8/07
2/08
2/09
313
28%
217
28%
181
NA
170
31%
180
25%
213
28%
200
10%
40,583
19,190
28,900
47,040
19,515
30,319
47,340
18,705
61,265
42,528
18,675
64,975
47,391
Revenues:
Regular meeting
Golf outing
Conference
47,210
22,779
28,530
Financial :
Revenues
Profits
Cash
144,984 143,650 138,925 168,681 179,749 152,479
7,661 <3,313> <22,189> 12,060 32,753 52,094
106,473 80,771 82,703 104,789 120,765 138,248
71,255
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ACG Member “Value” Chain
Financial
Benefits
Skills
Market Impact
Knowledge
Information
Contacts
Entertainment
What Needs Are We Attempting to Meet?
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Current Product Offering
What are our unique products/services to meet these needs?
Local Level:
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Monthly speakers;
dinners/breakfasts
Technical sessions
Sponsorships
Networking
Annual Conference
Christmas party
Golf outing
National Level:
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InterGrowth Conference
ACG web site
Capital Link
Newsletter
Deal Exchange
International network of contacts
Membership directory
Mergers & Acquisitions magazine
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2008-2009 Report Card
What did we do really well?
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Mix of speakers, industries, life cycle stage
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Quality of speakers
Better mix of events (breakfast, cocktails,
dinner)/venues
Loyal core membership
Conference may have been “best ever” – great
teamwork!
PNC Park networking meeting a hit
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What can we improve upon?
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[See Strategies/Tactics]
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ACG Pittsburgh Chapter
Market Constituents and Needs
Business Market Constituents
What are the unique unmet needs of business constituents in the
Pittsburgh market that ACG can fulfill? [see competitor profiles in last section]
Company Executives
Funding Sources
Service Providers
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Mid-Market C-Level Executives:
Underserved Needs Identified by Board
In spite of a 20+ year history, ACG is irrelevant/unknown to most Pittsburgh C-level executives. The Board has
identified underserved needs of C-level executives (not validated through market research):
1.
Targeted education to drive corporate financial performance
• Real life success stories of CEO’s
 Private companies
 Public companies
• Growth tools and approaches (both organic and transactional)
2.
Leadership and managerial development/ mentoring
3.
Knowledge of valuation/deal mechanics; how companies are valued; deal structures; how deals get done
4.
Greater familiarity with best local M&A and strategic advisory resources/talent
5.
Convenient and rich venues to network among peers (not just as spectator)
How relevant is ACG to a typical local Executive? What organizations are more relevant and why?
How do we make ACG more relevant to them while avoiding redundancy?
What is our unique core “value proposition” for this constituent given other resources/
organizations in Pittsburgh (given limited time, money, etc)?
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Funding Sources:
Unmet Needs That ACG Can Fulfill
Senior/ Mezzanine Lenders
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Deal flow
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Information on deals done
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Forum to establish deal contacts; opportunity to differentiate their offerings
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Education on current business, finance and transaction topics
Equity Providers (private equity, venture capital, angel investments)
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Deal flow
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Forum to establish deal contacts; opportunity to differentiate their offerings
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Information on deals done
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Better familiarity with unique deal resources
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Other Constituents:
Unmet Needs That ACG Can Fulfill
Job Seekers
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Need for job board/ job bank on website (member only access)
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Provide effective platform for networking (meetings may not be it)
College/MBA Students
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Clearinghouse for internship opportunities and entry level positions
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Excellent first step to plug in to business community
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Increase technical proficiencies in real world environment
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Identify opportunities to keep younger talent (ACG member’s kids) in Pittsburgh
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Volunteer judges for business plan competitions, CMU Management Game, etc.
Young M&A/Banking/Finance Other Professionals
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Current meetings may not foster networking among this subset
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Cultivate future deal-community leaders
Other?
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Women and minorities: untapped membership potential if offering correct; conspicuously
underrepresented among current membership
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Raise profile of very talented group of professionals; an asset of the region that possibly
can be marketed
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ACG Pittsburgh
2009 – 2011 Objectives, Strategies, Tactics
In managing performance, what success measures
should be on our board report “dashboard”?
Quantitative Measures
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Cash position
# of “unique”/new guests per meeting
meeting attendance (member,
nonmember, out of town guests,
corporate)
total membership (focus on retention
statistics/new)
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size of email distribution lists
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Attendance at board meetings
Non-quantitative Measures
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Market awareness; mentions in news
media
assistance/help for job seekers
member satisfaction metrics (consider
survey?)
attendees “feeling welcome”
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Strategies/Tactics: 2009-2011
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Marketing/Membership
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Need a chair who takes leadership role with significant support from administrator (should
there be two: one for ??)
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Double email database (PMW-capital 1Q)
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Public relations plan to build awareness
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Reach out to /invite nearby chapters to events
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Offer “corporate” membership ($xxx/year for x people at company)-send letter with progam
in August
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“ownership” of event – related marketing?
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Offer CPE/CLE credits
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Strategies/Tactics: 2009-2011 (cont.d)
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Marketing/Membership (cont.d)
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Rekindle ties w/newspapers
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Set-up ACG Pittsburgh Linked In network
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Introduce/welcome new members at monthly meetings (separate ribbon?)
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Reconsider hiring PR firm
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More effectively reach out to CEOs, CFOs, CDOs, Controllers)
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Focus on C-Level executive attendance at meetings (not membership)
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Take another look at member/nonmember pricing
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Review membership lists monthly (10 minutes) – talk about retention/make calls
Strategies/Tactics: 2009-2011 (cont.d)
 Programming Quality/Innovation
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“membership” of event-related marketing?
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Email “program” in August to entire database & other chapters – “save the dates”
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Attendance at technical sessions sporadic/poor-need to rethink
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Strongly consider notion of an event only having 2 or 3 elements (tech session,
networking, speaker/dinner, panel)
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Better guide the speaker (less infommercial/more focus on growth strategies, key
issues, industry, etc.)
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Provide a speaker “guide” or package in advance – tell them the “theme” of meeting,
better develope titles
Strategies/Tactics: 2009-2011 (cont.d)
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Programming Quality/Innovation (cont.d)
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More education/take-away value
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Send event announcement to other chapters
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Consider use of panel format for meetings
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Vary venue & formats
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Tap into ACG speaker/bureau
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Consider “webcasts”
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Christmas party “free”?
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Use tech sessions as “platform” for panels with PEG’s, banks, investment bankers
Strategies/Tactics: 2009-2011
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Conference: How do we do even better than 2009
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Pursue speaker (keynote) w/ Vistage or ACG speaker bureau (may need to
pay)
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Sponsors – promote more
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Make dinner meeting truly “exclusive” (no exceptions)
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Need to be able to mingle more at dinner
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Consider moving to March (+/-) – burden is in December (very busy time)
Strategies/Tactics: 2009-2011 (Cont.d)
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New Service / Product Offerings
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Satisfied generally (see other sections)
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ACG National
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better understand/articulate membership benefits to members/nonmembers
Strategic Alliances
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Better collaborate with other organizations
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Co-host events (TMA, FEI, EII, Vistage, Wharton Club, etc.)
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Consider adding board member from another organization
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Outreach to Chambers of Commerce (get list for $25 fee)
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Stragegies/Tactics: 2009-2011 (Cont.d)
 Business Community Outreach
 Discuss any key roles we can play
 University outreach
 Provide Linked-In affinity group for job seekers
ACG Board Governance
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What do you see as the major roles and responsibilities of professionals who commit to joining the Board of
ACG Pittsburgh?
 Clearly articulate expectations before they join
 “Who’s Who” board much less important than having contributing /active board members
 Board meeting attendance at least 6 meetings/year
 Attend at least 6 ACG events per year
 Committee leadership and/or active involvement on two committees
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What do you think is working and not working with respect to the current Board?
 Continue to send agenda out in advance (plus financials)
 Board members need to attend at least 6 board meetings/year
 Committees keep board apprised of progress/activities
 Need to vary meeting times to maximize attendance
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How do you think that the Board should change (with respect to key positions, board consistency,
attendance at meetings, term limits, etc.?)
 Need basic board minutes (attendance, decisions, follow-up items) – (Brooke unable to do because board meetings are
before events)
 Keep board to 12-15 active members
 Consider adding 1-2 “honorary” C-level executives
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ACG Pittsburgh
“Competitors”
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Mission
"Building Better Presidents Through Education, Idea Exchange and Networking."
Target Constituents:
Every member has been a member of Young Presidents' Organization. Since maximum age for membership in
YPO is 49, WPO members are 50 and older. Currently, the median age is 55.
How WPO serves its market:
• Universities- weeklong sessions that feature a faculty of political and economic leaders, scientists and
educators, artists and writers, and corporate and academic experts. WPO seminars and targeted activity
groups are smaller programs which provide the opportunity to learn from each other as well as from experts
in fields such as financial management, science, history, public affairs, international relations, health, and
business or personal development.
• On regional/ local levels, conferences/ chapter meetings provide opportunities for idea exchange.
• Presidents' Forum through which a group of 10 to 20 individuals meet regularly to hone their professional
and personal skills in a confidential setting.
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Mission: To be the preeminent association for financial executives through:
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networking: providing forums for peer networking
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knowledge: alerting members to emerging issues
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advocacy: advocating the views of financial executives ethical leadership
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promoting ethical conduct
We believe these long standing components of FEI's mission are appropriately synthesized in our
new organizational tagline ... connecting financial executives
Target Constituents:
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CFO’s and other corporate finance executives
How FEI serves its market:
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Online directory: locate other FEI members
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Events: network with your peers
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FERF publications: timely research and whitepapers
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Careers: full service career management center
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Topic library: comprehensive resources
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FEI Express: weekly newsletter for public and private companies
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University of Pittsburgh/ Katz School
Institute for Entrepreneurial Excellence
Mission
To Be The Innovative Leader of Economic Renewal and Growth Serving Enterprising People
and Businesses in the Pittsburgh Region.
Target Constituents:
1.
Panther Lab Works (start-up businesses)
2.
Small Business Development Center (small businesses)
3.
Entrepreneurial Fellows Center (entrepreneurial businesses)
4.
Family Enterprise Center (mid-market, family owned businesses)
How IEE serves its markets:
Knowledge, advice, education and consulting services to businesses at every step of the business life
cycle through membership organizations, featured speakers, courses, consulting organizations.
Principal revenue streams are dues/participation fees, federal funding, University support and
consulting fees.
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Mission
Vistage is the worldwide leader in helping chief executives take their careers—and
their companies—to a higher level by providing a unique environment where chief
executives, presidents and business owners learn to become better leaders.
Target Constituents:
1. CEO’s of mid-market and small companies
2. Key executives of mid-market and small companies
3. Service providers and other professionals
How Vistage reaches its markets:
One-on-one coaching and professionally-facilitated, confidential small-group meetings
help CEO’s to find practical solutions to tough problems. In addition, expert
speakers deliver fresh ideas that are tailored to members' requirements.
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Mission
The only international nonprofit association dedicated to corporate renewal and turnaround
management.
Target Constituents:
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Turnaround practitioners, who consult with or participate in helping troubled companies in the
recovery process, including interim corporate managers, financial and operating advisors, and
accountants (49%)
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Lenders and Banker/Workout Officers (15%)
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Attorneys (11%)
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Investors, including equity investors, investment bankers, venture capitalists (9%)
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Others, including receivables, appraisers, trustees, auctioneers/liquidators, factors, academics,
government/judges (16%)
How TMA reaches its markets:
Regional meetings, Certified Turnaround Professional (CTP) program, THE JOURNAL OF
CORPORATE RENEWAL, WEB SITE ( WWW.TURNAROUND.ORG, International TMA
meetings
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Mission
To catalyze venture investment and entrepreneurialism in Western Pennsylvania.
Target Constituents:
1.
Venture capitalists
2.
Angel investors
3.
Service providers and other professionals
How PVCA reaches its markets:
Through a wide range of programs, the PVCA facilitates quality deal flow, encourages investor
collaboration, and fosters important relationships with key service providers. Every major
regional venture capital firm is represented in our membership, as well as numerous first-tier
service providers. Regional promotional activities include an annual venture fair, regular
networking events, a membership directory, and award ceremonies for successful regional
entrepreneurs. All these activities aim to create a positive climate for venture capital in Western
Pennsylvania. PVCA hosts a number of luncheons annually at the Duquesne Club.
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