In this episode, Tina Corner Stolz discusses the most effective techniques for handling situations where a member is unable to pay financial dues for a period of time or is uncertain about future payments. Our focus is on fostering long-term solutions that benefit both the member and the group without sacrificing either party's interests.
We explore strategies that ensure fairness, respect, and mutual benefit, transforming potential charity cases into triple wins. By understanding the member's perspective and desires to avoid being perceived as a charity case, we discover approaches that eliminate resentment and foster a sense of fairness and respect. Tune in to discover how to navigate these challenges while maintaining harmony and value within your group or organization.
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SCHEDULE A CALL WITH TINA
00:00:00:00 - 00:00:27:22
Speaker 1
Hello and welcome to Mastermind Mastery, the podcast for professionals who want to create and run successful peer advisory councils, or as we call them PAX for short, or they're also known as peer groups or business mastermind groups. I'm your host, Tina Corner Stults, founder of Alice Council, where I've been in the industry running groups since 2005 and now help those like you with education, certification and support wanting to do the same.
00:00:27:24 - 00:00:51:24
Speaker 1
At one time I ran ten groups, nearly 100 members, and sold microbes for a good multiple and recently released my second book, Your Seat at the Table How to Create and Run Your Own Peer Advisory Councils, published by Forbes and Grateful to you that it's an Amazon bestseller. I invite you to join each week where we share strategies and techniques to successfully launch and become a master of running your packs.
00:00:52:01 - 00:01:11:08
Speaker 1
You'll hear insights, perspectives, do's and don'ts learned from my and my guests mistakes, successes, and get the inside track to key takeaways. Each time we have a guest, we'll be having a bit of fun. So are you ready? Let's get going and dive into today's episode.
00:01:11:08 - 00:01:53:09
Speaker 1
Hello everyone, and welcome to another episode of Mastermind Mastery. I'm Tina Corner Stolz your host and today that topic is Charity Case. What do I mean by charity case? The question today that I want you to ponder and think about is what happens when you have a member that you feel like you have to have or give charity to, meaning a member that can no longer afford the dues of membership or a member that needs a temporary reprieve of the dues because of some financial crisis.
00:01:53:11 - 00:02:20:21
Speaker 1
So what do you do? So I today am going to give you some out of the box thinking some ways in which you can create a win win for this scenario and also give you some ideas to consider are when the situation arises. Because every situation is unique. It's unique to where you are with your groups, it's unique to the culture of the group, it's unique to your goals.
00:02:20:23 - 00:02:42:19
Speaker 1
It's also unique to the culture you have built with your groups, and it's unique to what your overall. Basically values are. So today what I want to lead you through are just some things to think about, things that I have done and tried in the past, and other people that are out there writing groups that I know have done.
00:02:42:21 - 00:03:08:18
Speaker 1
And at the end when you have this situation or any of you that might have it today, you'll feel better about what to do. So if a member let's get started, right? So if a member can't continue to pay again temporarily, or maybe it's just you don't even know how temporary it is, but they are a right. That member.
00:03:08:20 - 00:03:39:06
Speaker 1
So what does that mean? They attend, they add value. There are peer leader. They have a great business. You know, they set the stage, they're helpful, all etc.. So there's many, many benefits that that member brings to the table. You also have to think about if they don't continue. What that does. So is it disruptive to the group to have a change and have someone leave, especially when they're an extremely valuable contributor?
00:03:39:08 - 00:04:00:00
Speaker 1
You know, do you need to take a look at and encourage to think long term versus short term? And what's the right thing to do for the members? Meaning what is the right thing to do, not at the expense of one or the other, The expensive one or the other is either at the expense of the member or the expense of you.
00:04:00:02 - 00:04:21:06
Speaker 1
So right thing for you and not the group is a lose when and the right thing for the members and not you is still a lose win. So today I'm going to talk about win win because many times I know in the early days of when I was running groups, I always felt like it was going to be a lose.
00:04:21:06 - 00:04:45:21
Speaker 1
When and how can I figure out a win win in this scenario? So let's assume you definitely want to save this member and have them still involved because it is the right thing to do. Maybe the right thing for the group, right? That you don't want that disruption. So how can you make it equitable? So you ready? Here are some ideas.
00:04:45:23 - 00:05:22:11
Speaker 1
One is you can offer a trade of time. Meaning maybe they can help you recruit new members. So can they refer, attend workshops, a marketing event that you might have support you in that give a testimonial at that event, Stand up, you know, share their story, etc. Maybe they can introduce you to centers of influence, right? Other people that can help you grow your group or add value to your group, whether it's through speaking or workshops or referring.
00:05:22:16 - 00:05:48:03
Speaker 1
Right. Again, testimonials. But let's take it a step further. Would they video a testimonial right for you that you can utilize in addition to something in writing? Or are they willing and able to step up and talk to prospects to help you move that prospect along to closing for the group? Maybe they can even be a mentor to new members.
00:05:48:03 - 00:06:15:15
Speaker 1
So when you have a new member on board, if maybe part of your process is you like to connect them to existing member to showcase, you know, how it is for them to get the most value out of being involved in a group. Maybe they will step up and be a mentor. Maybe they'll take the lead on a project that you might have for the group, like planning the next social or a retreat, or maybe even doing things like, I know one gentleman who's running groups.
00:06:15:17 - 00:06:41:02
Speaker 1
A member in this particular scenario, he raised his hand in order to do a spreadsheet to help the group track some KPIs that they were tracking. So he stepped up to create the spreadsheet. He's going to manage it. He's going to work with the members in order to input their data. Of course, the obvious is a side from time that I just talked about is financial.
00:06:41:04 - 00:07:08:09
Speaker 1
So what can you do financially if they already can't pay their dues? Well, there are lots of options that you can do. So, for example, so they don't feel like a charity case because let me stop for a minute and spend a moment on this. If a member can't pay, they already feel bad coming to you to even tell you that, because why?
00:07:08:12 - 00:07:42:12
Speaker 1
Well, if they can't pay, that means something's wrong with the business and they have to own up to that. They're probably embarrassed as well, because to get to that point is probably a point that is extremely uncomfortable for them. And it's probably been something they've been struggling with for a while until they finally now have to come to you and ask for either the fact that they need to leave because they can't pay or just to have a conversation with you about it.
00:07:42:14 - 00:08:02:07
Speaker 1
So, first of all, no one wants to be a charity case. They want to pull their weight. And if they can't pull it financially, where else can they pull it in any of those other ways I just went through in regards to time. But the one thing I want you to think about is if you were in their shoes, how would you feel?
00:08:02:09 - 00:08:29:23
Speaker 1
Because this will help you come up with a win win scenario. What would you want to do if you were the tables turned in the scenario where you couldn't pay a vendor that you valued? Right? And you are in a great place where you are the one running your business, running your groups. Okay, You can make that decision.
00:08:30:00 - 00:09:12:02
Speaker 1
You are the CEO of running your groups, so you have the wherewithal and the power to do what you believe is a win win. So when it comes down to financial sell as an option, keep in mind that that member doesn't want to stay on board and not not feel like they're still contributing to their membership. So when it comes as an option of money, some things for you to think about is that I've used so many times in the past when this is the case is I say, okay, let's talk about some options.
00:09:12:04 - 00:09:42:03
Speaker 1
What would you pay that will not cause you stress? I don't want you to chase something that is going to cause stress, which is the reason we're having this conversation, but paying something. Let's take a look at that and you're quiet because I will tell you, whatever you have in your head as far as what would be a win win for payment.
00:09:42:05 - 00:10:04:17
Speaker 1
Most of the time they have a bigger number. So throw it out there. What could they do? And whatever it is. And first of all, by the way, every time you do that, they will typically probably come back and ask you, well, what do you think? And I will never answer. I don't know. I don't know the detail and the severity and the situation that you're in.
00:10:04:19 - 00:10:40:17
Speaker 1
This is you. I will tell you that I will not be offended by anything that you tell me. I just want it to be the right number. So that is important to articulate. You might be offended. I think the number that comes out, but you want the real number. And the way to get that is to let them know that you're really seeking genuinely and know what that number is, because at least that's a starting point of a place for you to be able to work from.
00:10:40:19 - 00:11:14:22
Speaker 1
So let's say for example, for easy numbers that your your monthly membership dues are $1,000. And I asked this question to that member and they might say, well, $200. So then at that point you have to have further conversation. Okay. And say, okay, so $200 So what is your thought about how long that you feel you're going to need to be able to pay that reduced amount of $200?
00:11:14:24 - 00:11:39:08
Speaker 1
And I want you to be conservative. So two things. It can come back to tell you. One, they don't have a clue. Okay. Or two, they will say, I'm pretty confident it's just a 90 day window. Okay. So now you have a decision to make. If it's a 90 day window, are you going to be happy with that $200 for 90 days?
00:11:39:13 - 00:12:00:13
Speaker 1
So are you happy with the fact that you're going to leave on the table 800 a month for three months? Is that worth it to you? Because what you're weighing is opportunity cost. If you say no and that member has to leave, you have to replace that seat. Can you do it in that amount of time? Do you have somebody already in the wings to do that?
00:12:00:15 - 00:12:20:14
Speaker 1
And is that for the best thing for the group in addition to you? So if you don't have a new member ready to go in, you're going to have a vacant seat and you're going to lose that thousand dollars anyway until you have that new member that comes on board. You got to think that through and back to
00:12:20:16 - 00:12:46:01
Speaker 1
the other aspect would be the impact on the group of switch out. It could be positive, but we're back to the original question is, is this a member that you want to save? And it's valuable to do so for the long run. We're thinking here about the long run, not the short run. You're running a business, you are the CEO.
00:12:46:03 - 00:13:15:24
Speaker 1
You in making a decisions, are wrapped around both a short term and long term decision. I'm encouraging you to think about it being a long term decision because membership is long term. Membership in your group is strategic for them. It is for their life, ideally, right the whole time. And they're running the company. They have built this in as the key strategy of their entire initiatives as a company.
00:13:16:05 - 00:13:39:24
