I recently had the good fortune of sitting down with Mary Hunter from JDRF to conduct a webinar on ways to maximize fundraising efficiency as part of protecting the bottom line of your nonprofit. Every business has to ensure they watch their bottom line in order to generate the types of profits their shareholders desire ..we all know that. But a nonprofit has an even more important reason to focus on the bottom line: Ensuring as much money as possible goes to supporting their mission.
I hope you were able to attend the webinar, but if not, we have just released a new white paper Fundraising Efficiency and the Bottom Line that covers the key points of the webinar. Here are some of my favorites:
I think we all can agree that relationships are an important and valuable part of life both personally and professionally, if not the most important part. Every action we take, every opportunity we have to interact defines who we are and how we value relationships. The white paper offers some actionable ways nonprofits can recognize, value and properly leverage relationships both internal and external to increase fundraising efficiency.
Every organization must continue to think beyond the current paradigm of their capabilities and the status quo, and envision what could be. It is through that type of thinking that we move forward as a society and that organizations continue to flourish. Sometimes a culture of innovation is easy because the very nature of the work that is being done drives it. Other times, we must be deliberate in our attempt to innovate. Innovation does not always come in the form of the next big thing most times it comes in the form of incremental changes that ultimately culminate in larger accomplishments. JDRF, for example, spends tremendous energy redefining and reimagining how they operate in order to ensure they are in the best possible position to support their mission. When reading the white paper, just remember: Every innovation matters regardless of how small or large, especially when it comes to fundraising efficiency.
Properly calculated and managed risks are not only a key part of businesses and nonprofits today they are critical to keep a business or nonprofit moving forward. Taking risks creates a lack of comfort for most because of the obvious potential for failure. But I have a thought I would like you to consider: Should you be more concerned about failure from taking risks, or the less obvious (but very real) potential for failure due to inaction? I propose that there is no better way to ensure a successful future than to take action and most action includes risk. JDRF, for example, took a significant risk when they decided to consolidate their operational processing to improve their back-end fundraising efficiency. It took a new type of innovative thinking, and has become a big part of managing their bottom line.
I hope all of you continue to do everything you can to drive more value to your bottom line so you can do more to support the mission. Im sure as you review the white paper you will have your own favorites!
Get tips for boosting fundraising efficiency at your organization! Read the white paper Fundraising Efficiency and the Bottom Line.
Or check out the recorded webinar “Balancing Fundraising and the Bottom Line.”