7 For-Profit Principles That Build Nonprofit Success
Edward
In thinking about my research it seems that learning about non-profits and how they work is an important aspect. Mostly because universities are not-for-profit institutions and therefore live under guidelines in order to keep their non-profit status and ability to raise money through tax deductible donations. In google searching the word "nonprofit" I came across The Non Nonprofit by Steven Rothschild. The Non Nonprofit shares the same business principles that drive the world's best companies, showing how they can (and should) be applied to the realm of nonprofits. Here are his seven principles:
1. Have a Clear and Appropriate Purpose
Purpose establishes an organization’s rationale for existence. It is what an organization strives to achieve, and once that purpose is established, it doesn’t waver.
2: Measure What Counts
Metrics have a way of focusing our attention. In a world of limited resources, it’scritical to measure what counts because organizations get what they measure.
3: Be Market Driven
There are many elements of marketing—advertising, brand management, and public relations, to name a few—but the most important one is the least often understood by traditional nonprofits: serving your customers.
4: Create Mutual
AccountabilitySuccessful organizations practice mutual accountability with every stakeholder, whether clients, participants, customers, donors, staff, or government.
5: Support Personal Empowerment
An empowered individual can manage his or her emotions, thinking, and behavior to achieve positive, long-term life goals.
6: Create Economic Value from Social Benefit
Many are accustomed to thinking about social good in terms of moral imperative rather than economic benefit, but every improvement in social good does in fact have monetary value.
7: Be Learning Driven
Great organizations aren’t distinguished by getting it right the first time. A learning-driven approach is an ongoing part of the strategy of great organizations.