Club boards are typically made up of people who have been successful in some sector of business. Unfortunately, that acumen is often “lost in translation” on its way to the boardroom due in large part to a disconnect between the language of finance commonly used
IN LARGER INDUSTRIES—the airline industry or automobile manufacturing for example—major players exist. Because of their size, these bigger companies have influence and the ability to drive change. The club industry, on the other hand, is highly fragmented. Made up of thousands of individual clubs, in
A major portion of a club’s total operating revenue goes to payroll—about 55 percent at the median. Extensive analysis of club industry data has provided valuable insight into how that money is distributed and what drives the particulars of salaries, benefits and bonuses for the
As a society, the way we communicate with one another has changed significantly over the last decade. Personal computers, cell phones, tablets and social media dominate our daily lives and access to real-time news and information has become the norm. To help navigate this new
The industry debate over how much a club should budget to maintain its golf course seems never-ending, and that’s understandable. The course consumes a significant portion of the cash required to run a club and it is also one of the most visible and member-impacting
In any business, strategic leadership demands consideration of one essential question: How can we deliver value to our customers in a way that fulfills our financial objectives? The answer to that question shapes the company’s business model. In most cases, it’s fairly simple—a company creates