MOTM 2015 Budget
Jim and I worked on the budget for MOTM 2015. You can follow the link at the end of this message to view the details in Google. The numbers are based on attendance projections but give us at least some idea of the finances.
Goal attendance: 100 - 130 (Inclusive of Admin, Consulting and Vendor members)
In short here's the summary:
- We told vendor members their attendance at MOTM 2015 was included. In subsequent revisions of the vendor member literature we removed that and said that they could purchase tickets at the member price.
Since some (or all) vendor members received the info which said their membership included MOTM - we should honor that commitment. There are a total of 27 possible vendor member attendees. The net impact is about $8,500 (we are predicting that although 27 could attend we could see as few as 22 - so we used 22 as the actual number attending. This number could vary but not above 27).
For NEXT year I think we should NOT include MOTM in the vendor memberships. Instead we can use the inclusion this year as another benefit that we are offering due to the members being in their inaugural year.
So for renewal purposes:
- We extend the renewal date to 12/31 for vendor members
- Those who renew are able to attend the MOTM 2015 at no cost (though be sure we tell them in the future there's a fee per attendee).
REGISTRATION PRICING
As the group grows I think it's very important we start to make the registration more realistic. Social events (Boat, Dinner) are very important to the event and they are also very expensive on a per person basis. We cannot subsidize these as attendance potentially climbs above 100.
Socialcast members (that's anyone who is a named user in Socialcast)
Early - $ 400
Regular - $ 750
Late - $ 1,050
Socialcast member firms (that's anyone NOT in Socialcast but in a member firm)
Early - $ 600
Regular - $ 900
Late - $1,350
Vendor Members (who want to bring add'l people above their allotment)
Early - $ 600
Regular - $ 900
Late - $1,350
Net cost to 90 Minds to put on the event (Revenues minus event expenses) is roughly $20,000. I believe this is in line with last year where we used about $12,000 in sponsor money and $8,000 in 90 Minds subsidy.
Jim is at work on the events and will have more to report soon.
Now that the budget is created we can begin planning more about when we'll open registration, advertising to members, etc. This will be done in a future meeting Stay tuned.
PS - Meeting today Thur Oct 2, 2014 - at 2pm ET for session planning ideas
https://docs.google.com/a/community.90minds.com/spreadsheets/d/1CW2AeO7MM0kKQ-SxvWZTyvoST8QC0LEmQi1eEAFxBv4/edit?usp=sharing