Multisport Magazine Issue 22 - Page 52

TRIATHLON QUEENSLAND FROM THE TOP I’ll share a few questions we have asked of the business during this most recent review period. M any of us participating in triathlon do so for many reasons beyond our enjoyment and passion for the sport and its many pursuits. One of the biggest draw cards for my participating in triathlon is the opportunity to refresh mentally and to switch off office life. We have been through some substantial strategic review, data analysis, presentation, and, most recently, our AGM. Through the survey of Queensland members, we know that a good percentage are in management roles during their professional lives. So, if I may, The health of your business We look at which areas of the business are growing, we dig deeply on recurring revenues, and ensure we are linking solid business cases to forecasted growth. Recently we put together some data to asses our member retention. We can see that our retention rate has increased from 52% to 63% over the past three years. Knowing the number of members who didn’t renew this season, we called them all and got some terrific insights to better qualify the other information we have captured. In most conversations, the main reasons members were not renewing this season is because of injury, a change in life’s circumstances, or a break from racing. Most indicated they would return next season. So who is not returning? They were young participants who had less than three races last season. Most of these members are simply going to try something else and may come back in the next few years. Strong financial performance After our most recent AGM, the annual report is available, and you will see a solid GET COVERED WHILE YOU’RE TRAINING AND RACING WITH MEMBERSHIP. JOIN TODAY TRIATHLONQLD.COM.AU 52 | MULTISPORT MAGAZINE performance this year. Reporting a small profit was important, but the significant improvement in our cash position and reserves is the real winner. Organisational structure Over the last 12 months the organisation has bedded down a revamped structure, and we have continued to grow our resources through a number of partnerships to focus some attention around clubs, schools, and promotion. Since January the immediate impact has been over 60 school visits and a tick over 22,000 students reached. The Board of Triathlon Queensland has continued to perform; driving strategy, quality governance, and investing in our clubs. Although these three areas are good places for reflection and information gathering, they are also generic enough to use as a starting point for a quick check on your business, a way to assess a business in which you may have an interest in joining their board, or consistent measure to cross check your competition. See you in transition, Tim Harradine Executive Director, Triathlon Queensland