NONPROFIT NOW!
  • Nonprofit Now!
  • About
  • Services
    • Coaching
    • Consulting
  • Blog
  • Deeper Thoughts
  • Testimonials
  • Contact
Picture
Picture

The Three B’s to Focus on Now That You’ve Got Your 501(c)(3)

6/28/2019

0 Comments

 
I was recently coaching a new and very enthusiastic client that literally received her 501(c)(3) designation the day before our meeting.   I was also excited that she had just received her first donation as well - off to the races! She had gathered lots of research, had a multitude of tasks and she was ready to dive into all of them.  

As has become customary for me, I asked if she had a budget and could she tell me about the board of directors she had assembled.  The room got noticeably quieter. I hadn’t asked her to shame or embarrass her but it was clear that she hadn’t quite gotten to those.  I suggested that before anything else she focus on a Budget and her Board. I then joked that I wished I had a third B so I could suggest focusing on The Three B’s.    Without missing a beat, she suggested Branding!  Loved it!  

I’m guessing a few of you - or even many of you - may argue in favor of other areas besides Branding.   You may even question my other B’s. But in a world where simplicity can help, putting ideas and activity into short and memorable arrangements can help.  So perhaps you’ll find thinking of The Three B’s helpful in your work whether it’s launching and building a nonprofit or other businesses - here’s a bit more on all of them:

  • Branding: The Red Cross, McDonalds, CocaCola and the list goes on.  So do the number of books, experts, webinars and so much more related to branding.  Suffice to say that it’s critical that the impact of your nonprofit and its importance to the world is clear, concise and easy to understand.  Logic models, mission and vision and values statements are all wonderful tools that can live in your grant proposals, on your website and even presentations when you have an audience’s full attention. But in today’s age of limited attention spans, you need to be able to say, share and post what your charity stands for.   
  • Budget: Have you created a real budget?  By the way, this is not to be confused with an equally important concept, a Realistic Budget.  What I’m referring to is a budget that encompasses all the true costs of running your nonprofit including expenses you may not presently pay in cash.  A prime example is Your Valuable Time. By the way, if you’re a founder who’s running the show, take extra notice! Consider what it would cost to replace you if (and I’m pretty sure you want to) keep your nonprofit as a going concern.  You’d need to go out to the market and find someone equally qualified to do what you’re doing. Another typical example: contributed work space. If whomever is donating the space sells the building or gets a killer offer for the rent, what will it cost you to go out and find a replacement space?  These items should be part of what you show as an external budget to funding partners. They represent the real costs of running your nonprofit.   
  • Board: So now you’ve got a brand and a budget.  Now you’ll need to raise that budget and your board should be a key source of support.  How solid is your Board of Directors? Do they have the capacity to help you build out the infrastructure to create a long-term sustainable organization.  Do they have the connections to build a network of support? And finally, do they have the plain old cash to consistently make viable contributions to your nonprofit.  If you can answer yes to most of the aforementioned questions, awesome! If on the other hand you’ve either never considered them or come up with a hard no for most, you’re early enough in the game to do a board assessment so you’re not stuck with the board you have and can build the one you need.  

Hope you found these quick tips helpful.  If you need help building your Brand, Budget and Board, I’m happy to help.  You can reach me by phone at 917-733-8569 or my email [email protected] 

​
0 Comments



Leave a Reply.

    Author

    Robert Grabel is the President of Nonprofit Now! You can find his posts here and at www.robertgrabel.com

    Archives

    October 2021
    March 2021
    February 2021
    January 2021
    October 2020
    July 2020
    May 2020
    April 2020
    February 2020
    November 2019
    October 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    October 2018
    March 2018
    February 2018
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    March 2016
    February 2016
    January 2016
    October 2015
    September 2015
    August 2015
    June 2015
    May 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    September 2014
    August 2014
    July 2014
    June 2014

    Categories

    All

    RSS Feed

    Want to keep getting the latest New Thinking?  Click Below...
    Subscribe
Powered by Create your own unique website with customizable templates.
  • Nonprofit Now!
  • About
  • Services
    • Coaching
    • Consulting
  • Blog
  • Deeper Thoughts
  • Testimonials
  • Contact