My guest post at this time is from Randy Seitz,a 17 year veteran of community and economic development specializing in new industry attraction, local industry development, workforce development, and international trade. Randy currently serves as the President and Chief Operating Officer of the Oil Region Alliance of Small business, Market & Tourism. Randy is taking the standard approaches of 'non-profits' and turning them on their ear - difficult status quo in every single aspect of his operations. I'm inspired by Randy's innovative thoughts on turning a non-profit into a self-sustaining entity. This is a fabulous example of defying Gravity for all of us.
I have recently finished the development of my agencies next five-year strategic strategy. Our 2 primary targets had been to come to be substantially far more effective in the way that we attain our corporate mission and vision, and to come to be financially self sustaining in the next five-years. The plan's accomplishment is going to demand that the organization adopt a modify in the way they commonly operate and to redefine how they generate and create funds. In other words, we have to challenge the status quo and defy gravity to attain important accomplishment. That is why I have recently bought, for my complete management team, a new book by Rebel Brown called "Defy Gravity." The book defies the status quo and gives practical suggestions to assist corporate leaders stay away from crash-and-burn methods of yesterday. I extremely advise this book to all CEOs struggling with modify modify in how to implement new and special techniques to take organizations to new heights. Rebel suggests that the way we've often performed it may well be limiting our accomplishment and I agree!
Status quo in the nonprofit globe is fund development. Conventional fund development is just the acquisition of resources toadvancethe mission ofan organization. It is the course of action by which an organization makes use of fundraising to make capacity and sustainability and it is part of the strategic promoting of a nonprofit organization. Fund development has two sides although it isnot only concerned with raising capital, but also in developing reliable sources of revenue that will sustain the organization by means of the realization of its long-term mission and vision. Successful fund development requires a strategic strategy that relates funding to the objective and programs of the organization. Nonetheless, I contend that in these tough economic instances nonprofit organizations have to radically modify its view and take the idea of fund development to a whole new level. They have to, as Rebel Brown teaches in her book, Defy Gravity challenge the status quo!
It is my contention, in these tough economic instances, that nonprofit organizations are becoming a burden on the company community. It appears that person businesses are getting hit more than and more than and more than again by local nonprofit agencies for donations and memberships in mass numbers. Everybody from chambers of commerce to the humane society is asking for little company help. Now, these are all amazing, mission driven organizations that are doing terrific items to enhance the excellent of life in their respective communities, but unfortunately they rely heavily on donations from little company. As the economy weakens there is less and less of this capital obtainable by little company to help these groups and the competition for these dollars among all of the nonprofits in a community is at an all time high. There is just not sufficient capital to go about and I am afraid that you will see a large number of nonprofits closing their doors more than the next a few years unless they make a basic modify in the way they operate. I believe that nonprofits just can't continue to operate utilizing the same old model.
The solution to this difficulty, which I have adopted and I am encouraging other nonprofit CEOs to also give consideration to, is how we look at social entrepreneurialism. Social entrepreneurialism requirements to be looked at in a whole new way. Social entrepreneurialism is typically the use of standard entrepreneurial procedures to address a social problem or result in. I want to challenge the status quo, defy gravity, by searching at social entrepreneurialism as a way for nonprofit organizations to create new funding sources by means of for-profit indicates. I want social entrepreneurialism to be defined as a nonprofit organization developing and operating a separate for-profit venture to help their nonprofit mission. In other words, any profit from the new venture would go to help the long-term mission and vision of the nonprofit. Hence, the nonprofit would demand less capital in private contributions. For example, the humane society can market place and sell a private -label brand of dog food in grocery stores nationally. The YMCA could market place and sell workout videos in the United States. An economic development group could create and sell commercial and residential actual estate. By adopting a new way of operating, there would be the prospective to generate millions of dollars in income for these groups that could go towards the long-term financial sustainability of the nonprofit.
The organization that I serve, serves the complete community by means of the creation of new jobs and investment in the region and the promotion of the area's assets to attract tourists that spend capital with local merchants. For the most part, we are considered a member-based organization. The funds that we raise come primarily from among the members themselves and are employed for the objective of sustaining the organization's requirements. For example, the capital required for our programs and operations is collected in the form of fees paid to belong to the organization, or in the form of donations. There is a high degree of correlation although between the economy and membership. Hence, if the economy is negative, we can anticipate membership to be lower. Merely, the organization requires funding to retain its service to the community year immediately after year. So, there is no way that we can rely totally on membership dollars and still survive long into the future .
In addition to membership dollars, we have to also rely on a little base of government help for precise tourism and heritage preservation programs. And, the fact of the matter is, that commonly we have to raise funds from a wide variety of sources just to retain our budget. That is why I really feel it is so crucial and important to generate a fund development technique that allows the organization to generate new income by means of for-profit indicates. You can see how, as an organization, it would make sense for us to create and sell commercial actual estate as a way to generate new income. The far more capital we can generate on our own, the less capital we will demand from the community. This is a new and radical way to look at nonprofit fund development, as effectively as, social entrepreneurialism, and is definitely not the status quo, but is, none the less, required if the nonprofit wants to survive in this new economy. This is a way for the nonprofit to take their destiny into their own hands to come to be less of a burden on society, and to acquire long-term sustainability in tough economic instances.
Thank you Rebel for confirming our technique and giving us the tools we need to have to execute this strategy and move our agency forward far into the future!
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