It’s no secret that this has been a challenging time for the PSA. Now, more than ever, transparency and communication are essential to ensuring you’re informed about what’s happening as we move forward together. With that in mind, this is the first in a series of monthly updates I’ll be publishing to share important news and progress.
Your Board is working hard to turn things around, but I’m aware that much of what we do happens behind the scenes. I hope these regular updates will help to keep you fully informed.
Background information
If you’re not already aware, we published documents ahead of this year’s AGM that outlined the severity of our financial situation – a £98,000 loss in 2023-24 following a £48,000 loss the previous year. These figures highlight the significant challenges we’ve been facing and the areas where we need to improve as an organisation.
Addressing this has been, and continues to be, the top priority for the Board, and it’s why we are taking decisive steps to steady the ship and lay a stronger foundation for the future.
Steps we’ve taken
To address the financial challenges and ensure the long-term sustainability of the PSA, we’ve already taken several key steps:
We have conducted a full review of our overheads and made reductions to outgoings. Our immediate priority is clear – spend less than we’re bringing in. While it’s a simple principle, it’s a critical one as we work towards stabilising our financial position.
I’d like to extend a personal thank you to our team, who have shown incredible understanding of the financial difficulties we face. Their flexibility and willingness to adapt during this challenging time have been invaluable. It’s their commitment that enables us to navigate these circumstances and continue delivering value to our members.
We’re currently assessing the costs and logistics of our regional event venues. This is essential for providing clarity on our plans for regional events in 2025, ensuring we can continue to support you in a way that’s both valuable and sustainable.
We announced at the AGM that we were planning to put a hold on the BOB project (a new back office system that will also make it easier for you to manage your membership and access benefits, as well as a speaker directory so you can be found by bookers). We’ve now negotiated an agreement with our supplier to delay the launch of the system until May 2025.
With all that said, the situation remains challenging. While we’re on the right path and making progress, there’s still a lot of work to be done. That’s why I believe these regular updates will be so important moving forward. I want to ensure you’re kept informed every step of the way. If you don’t hear from us for a while, please don’t assume the situation has been fully resolved. The severity of our financial position means that even with the significant work undertaken so far, we’re still facing tough decisions and ongoing efforts to secure our future.
What can you do to help?
Volunteering
As part of our efforts to reduce costs, we’ve had to make the difficult decision to reduce working hours for some of our team members. This step was not taken lightly, but it’s a necessary part of aligning our operations with our financial reality.
That said, I’ve been heartened by the generosity of so many of our members who have offered to volunteer their time. We are incredibly fortunate to have such a wealth of talent within the PSA, paired with a spirit of generosity and community.
We’ll be looking for more volunteers in the future, but right now, there are two key areas where we need your help:
Join the Secretariat Team
We’re looking for three members to join a rotating team that supports the Board as part of the Secretariat. Your role would include:
- Providing minutes after Board meetings, working from Fathom transcripts.
- Committing 2–3 hours once every three months, with an additional two hours per month to assist with administrative tasks.
Join the Learning & Development Team
We’re looking for six Trainers/Facilitators to assist in delivering and facilitating:
- The Go-Pro Course
- The Business Basics Course
- The three Business Builder Courses for Professionals
If either of these sound like you, or if you know someone who would be perfect for the roles, please email Yvonne Emery by Friday 29th November at 11:00 pm.
Supporting In-Person Regional Events
To make in-person regional events sustainable, we need your support – by attending! With venue prices continuing to rise, these events can only succeed if we have strong member engagement.
Your presence not only helps cover the costs but also fosters the sense of community that makes the PSA special. By attending, you’re directly contributing to the sustainability of these events and helping us continue to deliver high-quality, in-person experiences.
You’ll find a list of all upcoming events here: Events – Professional Speaking Association
Have You Paid Your Membership Fees?
During last month’s Finance Q&A, our Finance Director, Phil Ingle, highlighted an issue – we’re still not fully clear on who has paid their membership fees. To help us address this, Phil has requested that everyone take a moment to check when you last made a payment.
While work is ongoing to resolve this, if you think you might have missed a payment, please email Phil at [email protected] with the subject line ‘Hands Up.’ Don’t worry – you’re not in trouble(!) but every contribution helps support the PSA during this challenging time.
2024 AGM Minutes
I believe this year’s AGM may have been our most well-attended in history! Your participation and engagement truly reflect how much you care about the PSA and its future. It was inspiring to see so many members coming together to discuss the challenges we face and the steps we’re taking to overcome them.
The minutes from the AGM are available to view here.
As part of the AGM, two scrutineers (Will Kintish and Derek Cheshire) were appointed to review last year’s accounts in detail. They have already started work on this with our Finance Director, Phil Ingle, and we thank them for their time and effort on this. Once this has been completed, we’ll present the full accounts to you for approval in early 2025.
Speaking Business Summit
I’m delighted that this year’s Speaking Business Summit was a success – a true testament to the dedication of our community. Thank you to everyone who participated, contributed, and made it such a memorable event.
During the Gala Dinner, our National President, Michelle Mills-Porter, announced exciting plans for next year’s event. She also shared that while we have a venue in mind, our financial position means that we need to secure ticket sales to confirm the event and lock in the venue.
If you’re planning to join us for next year’s Summit and are able to purchase your ticket now, please do. Early ticket sales are crucial—they give us the confidence and resources to move forward with our plans and ensure we can deliver another exceptional event.
For those who prefer to pay in instalments, please note that the deadline to pay your deposit and set up your instalment plan is this Saturday, 30th November 2024.
Get your tickets here: Speaking Business Summit 2025
Governance review
As we reflect on our current situation, I believe it’s essential to take a thorough look at how we operate as an organisation. With that in mind, I intend to conduct a comprehensive review of our governance and processes. This will include examining our Articles of Association, byelaws, and Board procedures to ensure they are fit for purpose and support a stronger future for the PSA.
This review is a vital step toward enhancing transparency, accountability, and efficiency, and I look forward to sharing updates as we progress. If you have any comments or questions relating to this, please email me at [email protected].
Chair role in 2025
Ahead of the AGM, I agreed to step in as Interim Chair for a six-month period, with Yvonne Emery stepping into the role of Interim Vice Chair. I’m confident this will be enough time for us to bring stability for the future before someone new takes on the Chair role. Details of the recruitment process for the new Chair will be announced in the new year.
The future
We’re continuing to work hard on your behalf, and I’m optimistic about providing positive updates as we move forward. Your support and engagement are vital to our progress, and I’m grateful for the role you play in our community. If you have any questions or thoughts, please don’t hesitate to reach out to me directly at [email protected]. I’m always happy to hear from you.
Speak soon,
Nathan Littleton – Interim Chair
