Earlier this week, Associations Now profiled a recent report from McKinley Advisors, Business Model Innovation, in which they identify five innovation elements that can provide the revenue that fuels your association’s ability to achieve your mission:
- Value – rethink your value proposition
- Revenue – pursue new pricing strategies
- Community – provide opportunities for relationship-building, both online and in-person
- Reach – expand your thinking beyond just your members
- Operations – get your own house in order to support all this
These are all good points.
But how do you actually do those things?
One possibility: lean startup methodology.
Lean startup allows you to jump start your innovation practice and non-dues revenue via a structured process that can help you to learn whether you’ve identified the right audience, whether you’ve selected a problem that’s both real and significant for them, and whether your audience is willing to use – and pay for – your great idea to solve their problem.
Remember: It doesn’t matter how quickly you’re moving if you’re headed in the wrong direction.
Photo by CHUTTERSNAP on Unsplash