Now that we’ve looked at share clubs in general and how to set one up, today we’re going to get down to the nittygritty and cover the running of a club.

First off, you’ll need appropriate officers to specialize in the main tasks: every club needs a secretary, a chairman and a treasurer as a minimum requirement.

The treasurer’s role is probably the key one as they will have to keep up-to-date records of all purchases and transactions. In addition, they will record how much money there is to invest, who has paid what, and how much the share portfolio is worth.

Other members will need to research specific company areas, like banking, retailing, energy, technology, entertainment, and so on. Members who work in a sector, or have particular knowledge or interest, will be ideal for these sector jobs.

As well as requesting companies’ Reports and Accounts, the Internet is a great tool for research. Most companies nowadays have their own websites with special investor sections.

A system for share buying is also necessary. One member one vote is the best method as it precludes arguments. Members should put forward “picks” from their area of expertise, and the whole membership then votes on whether to buy the share.

Keeping the whole atmosphere amicable is the job of the chairman. The widest possible discussion and consultation makes that role easier to manage.

Next: 4. Picking your Shares.