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#AFNC17
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AssociationsForumPtyLtd"Bringingassociationstogethertoboostperformance"
• LEARNINGLAB 4.40pm• 4ERevenueStreamsandInvestmentsforSustainability• StephenTait• DirectorofStrategyandProjects,RandwickWaverlyCommunityTransport• MemberoftheBusinessAdvisoryCouncilandInvestmentCommitteeTrusteesoftheSistersofStJosephoftheSacredHeart• DirectorSydneyHealthCommunityNetwork(SHCN)• Director ZimbabweSports&EducationFund(ZimSEF)• FormerChairmanJPMorganAustraliaSuperannuationFundLtd
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Future-ProofingYourAssociation
TurnitintoaCompanyLimited
Turnthebeataround
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PlanC,whichhasthreeelements:winning,tacklingandthefuture...“WTF”.• Schumpeter• HowtoTrump-proofyourcompany
• TOOURmanagementteam:WhenIlefttheWhiteHouseyesterday,afteranothertwo-hourround-tablewiththepresident,Iknewinmygutthatitwastimetoputinplace“planC”forthisgreatcompany.Theboxer,MikeTyson,hadapointwhenhesaid“everyonehasaplanuntiltheygetpunchedinthemouth.”ButsodidWinstonChurchillwhenheobservedthat“plansareoflittleimportance,butplanningisessential.”
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CollaborationforSocialImpact
• Credit:UNSWUWACentreforSocialimpactandUniSA• ChallengetoSustainability:CCSPtransitiontoNDISover2years
Operation OldSchoolModel CollaborativeApproach
Transportin MultiSocialserviceModel
M&A–TakeoverStakeholder AccruedSurplus
ShareStrengths– costefficiencies
DisabilityTransport – HiandLowcostneighbours
BringtheclienttodaycareOwnclientrelationship
RecogniseNDIA strengthsHarvestcashflowfromNDIA
TfNSWContractsforCHSP 90NSWCTOperationsWhynot30in3years?
TransportisaBookingServiceSharecosts &Collaborate
Superannuation 1998650Funds,replicatedgovernanceandadmin
2016nowconsolidatedto 80Boardsnearly3Trillion GetBig!
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PlanCthenAdapt• GovernanceistheKeyStrategyandExecution- adapt• CaseStudy:Newbody.NeedMissionandObjective
• NocashatBank:NofundingstreamtooffsetexpenseliabilityDirector'sdutytopreventinsolventtradingbycompany• Strategy- BusinessPlanandStrategyWorkingGroupBoardskillset–Skillaudit-• PlanFunding:ApplyforGrants,seekFundingfromStakeholderIntroduceMembershipfeestoaccessvaluepropositionDevelopKeyAwardsProgramtobuildbrandawardexcellenceinfield
• RegisterasCharityACNCPBIandDGRstatusapplication:
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CaseStudy2- ClientCare(oristhatRevenue?)CommunityTransportisakeyenablerinNDISandAgedCareSustainability:• TransitionRisk:govtmodelsmovetoclientdirectedcaremodel• Strategy:identifycriticalsuccessfactorforsustainabilitye.g.attendconferences,research,collaborate- ledtodepot,accreditation–“speakwithyourpotentialcollaborationpartnerscarefully”
• HireAssociationsForumexpertstoassiststrategy&planning• Segmentcurrentandprospectiveclients• Identifynewmarkets:thenwhereyoustrengthsaresustainable• AgedCare:MyAgedCareFirstmover,Brand,digitalstrategy• Disability:NDIAbecomeaserviceprovidernotforeveryoneyet• IndependentLiving-Aged&Frail;differenttoagedcare• Identifystrengths–PortersareaofSustainablecomparativeadvantage• Planningisthekey.ImplementwithStakeholder/Funderinmind.
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Observations,Barriers&Learnings
Iobserveddifferentcollaboratororganisationshave
• AttitudestoChange:confidenceinownability• FearofnotbeingFunded• ItsOknottogodownapathyourneighbouris.• Focusonopportunity notUncertainty,• Ownershipofclient≠Accesstorevenue• Acollaborationcanappeartobeatakeover• Plan– thenRecruitnewBoardSkillstogovernprocess
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SustainingCashFlowbyCollaboration
• Community -isapremise• Competeforcashflow orclient• ReciprocalStrengths• Tryacollaborationagreement• Planning
• Co-opetition- shareclients• whoisadirectcompetitor• canyourPartnerbenefit• Considerexitifnotworking• AllbusinessfunctionsDigital,BrandBuildingDevelopment(salestorightbuyer)
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Casestudy3InvestmentGovernance
• Consolidatingageographicallydiverseoperation.• Sustainabilityincontextofreligiousordertransitioningtogovernancemodelsin30years• Advisoryboard:• Thisisaprocessofcontinualdevelopment• FormulateInvestmentPolicy– SRIUNPRIRIAA• KeyistounderstandLiabilityprocessfromthiscomes
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StepstoimplementInvestmentProcess
1. ProfileLiability2. ModelCashflowforecasts,3. DeriveStrategicAssetAllocation,4. Planimplementationand5. Appointongoingmanagement.
• Differentskillssetsforeachstep-differentdirectorsconsultants• Commonerroristogetstuckinearlystepsandnotsustainmissionisitbettertohurrythroughandgobackorneverprogress?