Getting an Investment Club Started - Step 1 Finding Members
Once you have the basic information gathered together about why you should start an investment club, and the requirements that members should have, youre ready to take the first step towards officially starting your investment club.
Youll need to find members to join your club and you can achieve in this a number of ways.
If you have one or two friends who have shown a mutual interest in the stock market or bond market you can approach them to join your investment club.
You can find other people who are interested in joining in your club by advertising in the newspaper or by posting notices on community bulletin boards.
The important thing to remember is that you want to attract people who have an interest in learning more about the stock market while they invest small amounts of money.
You shouldnt be too concerned if the majority of the people who have expressed an interest in joining your club are all new to the stock market. In fact, this can be a good thing that your club is composed of people who have no real expertise in the market.
People who have prior experience with the stock market may quickly become frustrated dealing with amateurs.
Dont be too worried about being part of a group of people that have no experience since there are many resources that are available to help you learn about investing and the process that you need to follow.
Prior to your first meeting with those people interested in joining your investment group you should provide them with information about the club. This includes letting them know what the club is going to be about and how it should be run.
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Your mission statement will outline clearly how your investment club is going to be organized and how youre going to reach your goals.
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An important feature of an investment club is that the members are there to have fun as they invest their money and learn about the stock market. You need someone who can keep a constant eye on the stock market and the stocks that youre looking at. Getting an Investment Club Started - Step 1 Finding Members Once you have the basic information gathered together about why you should start an investment club, and the requirements that members should have, youre ready to take the first step towards officially starting your investment club. The newly elected treasurer should have the accounting system set up by the time your second meeting rolls around. Each member of the club needs to be certain of the expectations and needs to have some simple attributes that are met.
Youll want to write down your mission statement and make sure that each member of the club, and any future members, has a copy of the mission statement.
If youre unable to take direction from a group of people that youre working with then an investment club may not be for you. Expect to be an amateur. When youre investing with a group of people you can diversify your investments and not limit yourself to just one or two market choices.
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