myICLUB Blog

Every successful investment club has a president who fills an important role and performs specific tasks. Whether you're president of a club that meets in a room or online, the job has similar responsibilities. Common tasks include organizing, planning and presiding over meetings, overseeing club activities, making sure resolutions are carried out and recommending disciplinary actions.

Being the best club president calls for following a few key guidelines, according to myICLUB investment club veterans Doug Gerlach and Russell Malley, who outlined them in one of our free Investment Club webinars. Here are some tips:

• Set the meeting agenda well in advance of the meeting. Don't overload the agenda with more business that can be conducted in a single meeting.
• Distribute the agenda in advance to club members via email. This averts the need to table topics for the future, which often results in wasted time and missed opportunities.
• Inform members of stocks being presented well in advance of each meeting. This enables club members to prepare by studying companies to be discussed.
• Make sure that financial reports are distributed in advance of each meeting. Instead of spending time going over minute details of the Valuation Statement, the treasurer can touch on the highlights and answer questions.
• Delegate tasks to committees and other officers so that the president doesn't get overwhelmed. Harness the power of the team!
• Meetings fall apart without good leadership. Aim to run meetings efficiently, giving members opportunities to ask questions and discuss topics, but know when enough time has been spent on a given issue and it's time to move on. Meetings that consistently run long are never pleasant.
• Good leaders don't have to talk nonstop during meetings. The President's job is to preside over meeting, not take them over. Let the members and officers do the talking.
• Develop ways of efficiently gathering feedback and building consensus among members in a pleasant, timely manner.

What are your top tips for investment club presidents? Let us know in our Investment Club Forum!