We are all in business and we should be focused on bringing in money, right? Even non-profit organizations have to have a singular focus on bringing in funding for your important community service projects, true? What if I said that money itself was not the most important thing. Yes, it is important even essential to operate your enterprise. But, there are things that must be focused on to ensure that funding is available for the long term. Doing that makes your organization sustainable, profitable, and attractive to all types of funders.
What You Should Focus On
There are four core items that every business type should focus on to improve long term sustainability. Lets take a look:
- Customer service. Every business has a customer base that should be serviced with the upmost respect, patience, and integrity. Excellent customer service grows your consumer/client base, increase your service numbers, and expand your impact. When those things happen, organizations become more attractive to funders (ie. more funding).
- Growth. Every business (for profit and non-profit) has physical, intellectual, and other capacities that are strictly limited by size. It could be the building you are in, the staff you currently have, the knowledge you have acquired, and experience that you’ve accumulated that could be limiting your earning potential. If you do not consistently work to increase these capacities, eventually you could find your earning potential limited. Before you seek to gain additional funding, take an assessment of your various capacities and increase those that are deficient. Doing this will improve your bottom line organically.
- Product/Services. If you have been doing the same thing the same way for longer than five consecutive years, then your processes are limiting your funding and you need to change that. If you have not embraced new technologies, worked to get new prospective, looked at your competitors and see what trends are happening in your industry, you are falling behind and may soon be left behind. Focusing on your product/service line will result in a more secure financial future.
- Network. If you aren’t consistently expanding and nurturing your current network, you will be negatively affecting your own bottom line. To be sustainable, you should be a known community resource; an asset to both customers/clients and the community as a whole. If you become invisible and unknown, you risk losing your influence and worth. Having a robust network is essential for your long term sustainability.
Money Is Not Everything
Money is important to every business, no doubt. But a singular focus on making or acquiring money can hold you back long term. Focus on these four aspects of business instead, and see your bottom line improve faster than you think! Additional information available here.
Have questions? Contact us anytime.
Happy Fundraising!
