113. Kate Fryer, CEO of the Endocrine Society, on Intentional Decision Making, Calculated Risks, and Non-Dues Revenue

How do you balance being risk-averse with taking calculated risks that could benefit your organization? Can you think of a time when taking a risk in your organization led to unexpected success or a valuable learning experience?

In this episode of Associations Thrive, host Joanna Pineda interviews Kate Fryer, CEO of the Endocrine Society. Kate discusses:

• How Kate discovered the association world after working as a copy editor for scientific journals, later pursuing a long-term association career.
• The importance of intentional decision making, and how inattention and inactivity can force you to make the wrong decision, taking choice out of your hands.
• Her experience starting as a CEO during the pandemic, and the effort she made to establish connections with staff and member leaders virtually.
• How Kate knew she was ready for a CEO role after realizing she could anticipate and critically evaluate the decisions of her mentor.
• How the Endocrine Society honestly evaluates their own strengths and weaknesses. Kate says that associations often have a "rose-colored glasses" view of their programs, which leads to some programs having a longer life than really needed..
• How the Endocrine Society is driving non-dues revenue by leveraging its large reserves to fund an innovation fund that invests in for profit ventures in the association and nonprofit space.
• Her advice to first time association CEOs: Your first Board meeting is critical to your success. You want Board members to be confident in their decision to hire you as the chief staff executive.

References:

• The Endocrine Society Website