Many Members and supporters of the Society of Innovators are classified as nonprofit organizations. While starting any type of entrepreneurial endeavor is difficult, running a nonprofit comes with a unique set of challenges. However, there are three major challenges that can test even the biggest nonprofits out there: engaging/retaining donors, sustainability, and not having enough resources.
1. Engaging and Retaining Donors
Donors are one of the most important parts of a successful nonprofit. It is important to tell them this. Always be sure your donors know how much they mean to you. A donor, whether it be an individual, company, or a foundation, will likely donate again if they feel appreciated.
Also, donors like to know where their money is going. Keep them involved in what your organization is doing. Invite them to sit in on a program or to be a special guest at a speaking engagement. When they see that their money is being used to help others, they may continue to donate.
Finally, it is important to always keep news of your organization in front of your donors. Whether you keep in touch through a weekly newsletter or personal contact, it is important that you do not let your donors forget about you. If you do, they may not donate again.
Unfortunately, a great and noble mission isn’t enough to keep a nonprofit alive. One must run their organization like a business in order to ensure sustainability. Pool resources, call upon trusted relationships, and keep building more trusted relationships. The more connections and supporters your organization has, the better your chances of survival. Never forget that, although you are a nonprofit, you are essentially in sales. Sell your mission and vision to donors, supporters, and partners to create a sustainable organization.
3. Not Enough Resources
This is a struggle faced by all nonprofits. However, if organizations pool their resources, everyone wins. Seek out organizations with similar missions and visions to your own, then forge mutually beneficial partnerships with them. These relationships can help to ensure your organization will make it through rough times. Not sure what other nonprofits are around you? Check out this list of nearly every registered nonprofit organization in the state. You are sure to find some potential partnerships there.
For more tips and tricks pertaining to nonprofits, visit www.NWISOI.org.