From Skeptic to Supporter: How an Industry Association Won Over Our CFO

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Why Join an Industry Association?

By Desiree Grace

The Benefits and Opportunities of Membership—a conversation between the CFO and CCO.

CFO Mr. Skinflint said, “I think we can cut these association dues. It’s expensive and I don’t really see the benefit.”

CCO Ms. Savvy responded, “The benefits to our organization and our people are numerous. I know you have not been to an event or conference, so let me tell you about the many benefits. “

Introduction

It is competitive out there--companies and professionals are continually seeking avenues to enhance their skills, expand their networks, and stay abreast of industry developments. One powerful way to achieve these goals is by joining an industry association. These organizations provide a wealth of resources and opportunities that can significantly impact both personal and professional growth. The association can help us do these things that we cannot afford to do solo. 

Networking Opportunities

Building Connections

One of the main benefits of joining an industry association is the broad network of professionals in our field. These connections can lead to collaborations, partnerships, and even lifelong friendships. We found one of our best suppliers this way. Regular meetings, conferences, and events organized by the association provide a chance to meet peers, share insights, and discuss challenges and solutions. Companies can attend conferences and seminars to stay abreast of industry developments and macroenvironmental trends. Again, the association provides valuable research that would be hard to afford on our own.

Mentorship and Support

Industry associations often facilitate mentorship programs where seasoned professionals guide newcomers. Not only does this help us with retention, but this mentorship can be invaluable, offering advice, support, and knowledge that will help us navigate the complexities of our industry. Having a mentor can provide a sounding board for ideas and professional improvement.

Professional Development

Continuing Education

Staying up-to-date with the latest trends, technologies, and best practices is crucial in any profession. Industry associations offer a variety of continuing education opportunities, including workshops, webinars, and certification programs. This helps members stay competitive in their fields.

Access to Resources & Information

Members of industry associations often have access to exclusive resources such as research reports, industry publications, and online libraries. Industry-specific newsletters and benchmarking data can keep you informed about the latest developments and practices in your space. These resources provide valuable insights and data that can improve business strategies and decision-making processes.

Advocacy and Representation

Voice in Industry Matters

Industry associations serve as a collective voice for their members, advocating for their interests at local, national, and even international levels. They engage with policymakers, regulatory bodies, and other stakeholders to influence legislation and regulations that affect the industry, such as performance standards. Being part of an association ensures that your voice is heard and that you have a say in matters that impact your profession. We need help advocating for laws that benefit our industry.

Industry Standards and Ethics

Associations often establish and promote industry standards and ethical guidelines. Adherence to these standards not only enhances the credibility and reputation of members but also ensures the integrity and professionalism of the industry. Being part of an organization that upholds high standards can boost your standing and trustworthiness in the field. This will also help us with recruitment.

Recruitment and Retention


Professional Development Opportunities

Membership in an industry association can provide a plethora of development opportunities. Many associations have job boards, career fairs, and placement services exclusively for their members. These platforms can connect us with potential employees. This can also be a great opportunity to develop young talent in our organization. 

Commercial Development Opportunities

Associations also provide an opportunity to connect sales agents with companies needing quality representation. The opportunity provided to connect with more than one potential sales agent at a time can be a time-saver for companies. 

Professional Recognition

Being an active member of an industry association can enhance our professional profile. Many associations offer awards, recognition programs, and opportunities to present at conferences or contribute to publications. Any accolades would bolster our image and establish you as a thought leader in your field. Companies gain credibility by being active members of their association. 

Community and Collaboration

Shared Goals and Interests

Joining an industry association brings you into a community of like-minded individuals who share your goals and interests. This sense of community can be motivating and provide a sense of belonging. Collaborating with peers on projects, initiatives, or advocacy efforts can lead to meaningful contributions to the industry. This is something our organization should be proud of. 

Giving Back

Industry associations often engage in philanthropic activities and community service. Participating in these initiatives allows you to give back to your community and industry. It can also be a fulfilling way to make a positive impact beyond your professional life.

Conclusion

The decision to join an industry association is an important investment in our growth journey. The benefits of networking, professional development, advocacy, knowledge sharing, and community engagement far outweigh the membership costs. By becoming an active member, you not only invest in our growth but also contribute to the betterment of our industry. An industry association can provide the support, resources, and opportunities you need to thrive.

Now that you know more, consider the return on investment that membership brings. We took the time to research what types of associations are out there and which one is the best fit for our organization. While the investment will bring both quantitative and qualitative returns, our organization will also get out of the relationship what we put into it. Start attending events--Participate, learn, and grow. Then, you will understand the ROI. 


Postscript:  Mr. Skinflint went to the next Industry Association event, saw and understood the value of the investment, and no longer protested that particular line item on the cash flow statement. 


Desiree Grace is an advisor, consultant, and mentor with 30+ years as a senior leader in the electrical

distribution and manufacturing sectors. Desiree leads and supports special projects for River Heights

Consulting. She builds brands, grows revenue and motivates teams, facilitates strategy and execution, and offers special expertise in helping international companies enter the North American market.  Experience with Fortune 100 companies, private start-ups, and mid-market businesses enables Desiree to help a variety of B2B organizations improve market share, revenue, and profits. She is a sought-after speaker for topics such as professional development, sales leadership, industry trends, and team leadership and motivation. You can connect with her at www.linkedin.com/in/desireecgrace.





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