How To Find Investment Club Members

Your investment club is your achievement and you must have worked day and night to keep it up and running. For this, one of the most important tasks is to bring in more and more investment club members to your club. Members are the fuel that keeps the engine of the investment club running.

Members of the club may drop out for various reasons. They may change their workplace or profession, or may have other commitments that may force them to change jobs. Some members may lose interest in your club. It is even possible that the founding members too eventually withdraw from the club.

In this scenario, you might face several daunting questions. Can you and should you fill the spaces of the departing members with new club members? If yes, what is the best way to have more members on board, without making a negative impact on the functioning of the club?

How you bring in new members into your club also depends on what sort of club you have; physical or online. The ways of getting new people are different in the case of both these. You should note, that in both instances, the SEC prohibits public solicitation of members.   In the case of online investment clubs, the selection and evaluation of new members is difficult and one can only depend on the information provided by them.

A simple system of getting new members in an online club is to invite interested membership to attend your meetings. As an owner of the club, you may then formally invite the potential members of the club to apply to be a member. This can be made a regular investment club advertising feature. They can submit their resume, which can be circulated amongst all the members of the club. This will help the existing members to know the person and his or her background.

The potential investment club member can also participate in club discussions for some time. You can then get a small voting process initiated and ask people to vote if they want the person to get in. So, considering the person’s qualification and number of votes he or she gets, you can admit the person into the club.

This system of getting in new members works really well. It helps the existing members to have their say in the induction of new club members. The resume and participation in the discussions gives them the opportunity to get to know the potential member. The potential member also gets a fair chance to express himself and prove that he is a good choice as a new investment club member.

To keep the existing members with the club for a long time, it is important to keep them organized. There should be an occasional round of compatibility to find out how serious the investment members are towards the club and how much they are committed.

Communication is also an important tool to keep the members attached to the investment club. As an owner, you should make the time to interact with the members, listen to their grievances and give them the needed inspiration to work with the club.