Chairman’s Perspective: The Big Year Ahead

February 8, 2023

Hello everyone, and Happy New Year! I am humbled and proud to be your 2023 Chairman of the Board, and I look forward to adding value to the association and its members to the best of my ability. I pledge to everyone that I will continue to push our association forward with vigor each and every day.

One of the trends discussed in this quarter’s MHEDA Journal pertains to “Business valuation and succession planning taking on more importance.” With Liz Richards retiring after 27 years of incredible association leadership, it is no secret that this will be THE most important association business for 2023. I am honored to be Liz’s final Chairman of the Board and look forward to working with the MHEDA staff and the entire membership to make her final year one to remember or, as one member said, “Epic.”

I say with a tear in my eye, “Liz – thank you for a life’s work dedicated to MHEDA. You have impacted this industry and its people more than you may ever realize – THANK YOU!” In case you are wondering – YES – this year’s MHEDA convention will be epic and one that you don’t want to miss. Everyone should confidently know that Liz, the staff, the board and the search committee have been working for months planning this transition process to make sure it is perfect and that an outstanding successor is selected.

The other business trend that is being discussed in this quarter’s Journal pertains to inflation and the possibility of an economic correction in 2023. We all know and are tired of talking about fluctuations in prices, rising operating expenses, wage pressures and higher interest rates, so I’m not going to dive into that. What I would like to cover is that as I travel around the country, I get a sense that many member organizations don’t seem overly concerned about the future ahead. Things have been so robust for so long that we continue along each day “painfully busy” or, as my friend Tom Albero described it for any “Top Gun” fans, “at Mach 10.2.”

As an industry, we should recognize the fact that we haven’t been through a rising rate environment like this for a very long time and that the shockwaves could break something at some point. My message is one of financial conservatism, an open-eyed view of what could potentially happen this year. MHEDA will continue to monitor and deliver the latest economic information, and we will help each other in navigating whatever comes our way. That’s the beauty of the MHEDA network.

We are blessed to be in this industry, and I couldn’t be more excited to lead the MHEDA association in 2023. Thanks to all the loyal MHEDA members for your continued engagement and support. Together let’s work to “Expand Your Network, Educate Your Associates and Elevate Your Bottom Line” like never before in 2023.