Operating from a scarcity mindset often leads nonprofits to shortchange their future. It is true that there is a limit to nearly every resource imaginable, and it’s also true that nonprofit boards need to be wise stewards of the resources that they have. Your sole focus, however, shouldn’t only be on the resources that you have, and what it will cost to deploy them.
Adopt a Long-Term Outlook Rather than Focusing on Short-Term Gains
When this is your mindset, it becomes very tempting to justify your NFP’s expenditures by spending the bulk of your revenue on increasing the number of services and projects offered to the community. Instead of spreading yourself too thin, why not look for ways to increase your NFP’s efficiency and effectiveness, and enhance the quality of the core services that you already provide? It is time to invest at least some of your revenues in expanding your NFP’s ability to meet the needs of your community.
Ways to Invest in Your NFP Now
The following three strategies can help you invest in your NFP to encourage future strength and growth.
Training and Development
If you want your organisation to be powered by exceptional people that exceed expectations and deliver excellent results, then you must spend the time, money and effort necessary to train and develop them!
Leadership training and other professional development programs enable your staff to learn new skills so that your organisation has knowledgeable in-house experts to help your organisation overcome obstacles that might derail your NFP’s progress.
Update Your Technology and Actually Put it to Use!
Outdated technology hinders performance in a myriad of ways. From delays due to lost information because of computer crashes, to the inability to track and manage donor relationships, continuing to use old technology is typically more expensive than the price to upgrade when long-term costs are factored into the equation.
Upgrading your accounting software to one that’s specially designed for nonprofit use, such as Admin Bandit, and deploying newer technology, like optimising your blog for mobile users, simplifies and speeds up your processes. This one step also increases the accuracy and security of your information, making it easier to create records and reports. This will allow you to make more informed decisions and create more effective strategies.
Short on Funding? Increase Your Marketing Budget!
Building your brand, discovering what content is meaningful to your audience and learning your donor’s needs and preferences are just a few of the critical actions nonprofits must take to increase the results of their fundraising campaigns. Increasing your marketing budget makes fundraising easier and more effective. It’s also the first item in the budget that’s cut back on during difficult times. Instead of falling into this trap, look at ways to increase your funding so you have more to put back in your marketing budget!