Joining a Chamber of Commerce? Not so fast!

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Joining a Chamber of Commerce? Not so fast!

Encourager-In-Chief: August 29, 2018

Don’t trust any organization to look out for your best interests.

One of the first decisions a new entrepreneur makes is whether or not to join the local Chamber of Commerce. While at first glance this might sound like a sensible investment, there are some things you should consider before plunking down your membership fee.

There is a common fallacy that the Chamber of Commerce is there to make sure your business will be successful. Nothing could be further from the truth. The Chamber of Commerce exists to support the Chamber of Commerce. It is a business. It survives by getting members or investors. Whether or not the members succeed is secondary. If your company goes out of business, the Chamber will replace you with another company.

This is not to say that the Chamber of Commerce is bad. It merely does not exist for you to survive. That’s your responsibility. You need to be even more committed to your business’s success than the Chamber of Commerce is to its own.

Therefore, it makes sense for you to do your homework before joining any Chamber of Commerce. Ask if you can speak to other existing members, preferably ones that have been in your field or similar ones. Get an idea of how their membership has paid off for them. The best way to know if this is going to be a good investment for you is to figure out how much business you’ve generated as a member and divide it by how much it cost for you to join. If you use a simple formula, you’ll know when it’s time for you to join a Chamber or when it’s time for you to say “sayonara".

“Be a good steward of your business and guard your investments.” - Dave Romeo

This excerpt is taken from my Survive and Thrive III: Increasing Cash Flow, Sales, and Profits seminar.  I also encourage you to order my Survive and Thrive in Your Own Business video program, which covers this lesson in much greater detail.