A depressed economy, declining monetary support and increased anxiety has led to a MASS DEPARTURE OF EXECUTIVE DIRECTORS.
When an Executive Director leaves a nonprofit organization, they often take with them vital information and partnership contacts. The affected organization may experience a decrease in donations, as well as, resignations by both board members and staff. Typically, a nonprofit Executive Director is responsible for the overall operation of the organization, serves as a liaison between staff and board members and is responsible for promotions, fundraising and the financial health of the organization. While responsibilities may vary, depending on the size of the organization, ultimately the Executive Director receives accolades for success and assumes the consequences for all failures. According to a nonprofit survey conducted by the United Way of King County in Seattle, Washington, the average tenure for an Executive Director, within the nonprofit sector, averages 6.1 years. In addition, a July 2011 article, http://www.philanthropyjournal.org/news/top-stories/exodus-executive-directors-expected, entitled Exodus of Executive Directors, highlights a Meier Foundation study citing “Sixty-Seven percent of executives plan to leave their jobs within five years.” Stress, burn-out, low wages, lack of benefits and board member conflicts are just a few reasons attributed to this staggering, high turnover rate. Although these statistics are alarming, the departure effect on the nonprofit is, often underestimated, unsettling and sometimes tragic. The relevance, of whether the Executive Director chooses to leave by his/her own volition or the decision is mandated by a Board of Directors, is moot; either way, the organization suffers as a direct result of an Executive Director departure unless a transition plan is in place. Outsourcing grant- writing services can be an essential part of a successful transition plan. An independent grant writer can help provide stability during this pivotal transition time by allowing the Board of Directors the freedom to search and identify a qualified candidate to fulfill this vital role without worrying about the financial health of the organization. Listed below are a few of the benefits of outsourcing grant-writing services: 1) Copy retention of valuable organization documentation including:
3) Grant monies requested, received and required reporting 4) Campaign and grant application deadlines 5) Funding resource strategies Outsourcing grant- writing services can also be an asset once a new Executive Director is hired. Grant writing involves hours of research to identify funding opportunities that match both the funder and the organization mission, areas of interest (support), geographic location and monetary requirements. By affording a nonprofit leader the ability to concentrate on implementing the programs and projects that benefit their respective communities, the organization can increase the likelihood that the Executive Director will remain in that position longer and a successful organization can once again, be realized and enjoyed.
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Cutting staff may not be the best solution Profits and yes, losses are part of the reality of running a business. Losses can be attributed to a number of reasons; but some losses can be blamed on a variety of uncontrollable factors, such as economic downturns, competition, seasonal products, and negative reviews. While cutting staffing hours and lay-offs may seem logical; is it the best approach? Hasty decisions are rarely productive When the profit line begins to decrease, many business owners panic and often react by eliminating positions, merging job duties, decreasing wages or reducing hours. Often, these decisions are made in haste and can negatively affect the long term fiscal health of the business. There is no disputing, certain circumstances may require these strategies; however, they should be a last resort, rather than a defensive maneuver. Think twice before merging job responsibilities Merging job responsibilities has become common practice as a way to cut costs. It is imperative to assess, analyze and evaluate the benefits of certain skill sets, experience and productivity before implementing such drastic cost cutting measures. Employee Value Employees bring with them distinct and respective talents that may or may not be listed under a computer generated “job description”. Merging job responsibilities typically means more work for the same pay, which may result in employee "burn-out". Is it worth the risk of losing a great employee to another company, maybe a competitor? Suffice it to say that all jobs are not interchangeable! Employees are your best resource for ideas Business Owners should be visible, approachable and open to suggestions. The value of dedicated employees cannot be underestimated; they are your best, in-house resource for ideas and improvements. In today’s business environment, a successful business owner must invest valuable time cultivating and maintaining business relationships with peers and staff, just as they do with clients. A proactive approach reaps huge rewards All options must be carefully weighed. A proactive approach serves the best interest of the business, the employees, the morale and the customer base. What's the solution? There is no one solution fits all scenario; however, answering this one simple question may help make the decision easier. “Will the solution I am proposing, address this situation from a proactive approach or a reactive state”? If the response is the latter, more evaluation is required. You've probably heard the term Micro-Business and Small Business, but do you know the difference? Micro-business is defined as less than five employees, including self-employed. Small-business is defined as a business with revenues between $750,000 and $35.5 million between or below 100 and 1,500 employees. These figures can vary depending on the industry. Micro businesses face numerous challenges and the lack of capital is number one! Many people believe that government grants are available to start a small business, this is false information. Capital funding will most likely come from personal loans. The SBA (Small Business Administration) may be able to assist with lower interest loans. Let’s talk Venture Capital. What is it? Venture Capital is a type of financing that helps fund entrepreneurs and is provided from high net worth individuals. Investors, commonly known as Angel Investors or Venture Capital Firms, usually require a high rate of return and most likely you will need a direct connection to even be considered for this type of funding. Recognize that starting a business is tough. It is very likely that you will be funding your own start-up, your hours will be long, and your nerves will be strained. More than half of all new business survive less than five years. Below are a few pitfalls to avoid:
Recognize that starting a business requires a determined mindset, a spirit of perseverance and a strong backbone to succeed. It is very likely that you will be funding your own start-up, your hours will be long, and your nerves will be strained. While no one wants to think about it, starting a business can be risky. It is estimated that more than half of all new business survive less than five years. In the event, your venture is not successful, take what you have learned and move forward. Last but not least, take it from someone who has been there; the journey is worth the risk!
No doubt, you're familiar with this famous quote penned and attributed to Will Rogers, "You never get a second chance to make a first impression", but how seriously do you take it, in relation to your business? What kind of first impression is your business sending? Written correspondence and communication can open doors, serve as an introduction and foster business relationship. Business correspondence, internal and external, should be free of sloppy structure, improper grammar, slang, inappropriate verbiage, text speak, industry jargon and acronyms. 10 Ways to Make a Great First Correspondence Impression 1. Opening line or paragraph should state the purpose for the correspondence or communication. 2. The message should be clear, brief and to the point. 3. Proofread ALL correspondence, letters, emails, social media posts, and memos, before mailing or clicking send. 4. Use spell check, but refrain from relying upon it. (Example: Their, There, or They're) 5. Limit correspondence to one page. (Business correspondence should intrigue, engage or invite further contact) 6. Include a reference (RE:) or subject line. 7. Avoid form letters. (Personalizing correspondence is more effective) 8. Use letterhead for written correspondence. 9. Take time to personally sign correspondence. (Stamped signature suggest the recipient is not worth your time) 10. Review all business correspondence from a recipient perspective. A great first impression can be the beginning of a long, prosperous business relationship.
RESPECT THE PROCESS! Starting a business can be a risky venture. Success is dependent upon a number of factors such as the demand for the product or service, general economy and YOU! Starting your own business may initially sound exciting. Your mind swirls with thoughts of setting your own hours, being your own boss and, of course, reaping huge profits. Unfortunately, the desire and vision of Entrepreneurship often fails to match reality. Whether you’re considering starting a business, or have already taken a leap of faith and jumped right in, the fact remains that starting and running a business can be intimidating and scary. Are you prepared to work long hours and live without a vacation for two-five years? What steps are necessary? What questions should be asked? How much money will be needed? New business budgets are usually limited and first time business owners often take on the responsibility of tackling every aspect of the business from sales to management. The result can be overwhelming, detrimental and expensive. Starting a business is a big decision, one that requires planning, research and dedication. Seeking expert advice, BEFORE hanging the proverbial Open For Business sign can help prevent many critical and costly mistakes. It is a good idea for a start-up businesses to consider hiring qualified, independent professionals to provide the necessary services. In the beginning it may not be feasible to hire permanent employees for these positions; however, there are many good independent businesses that can help fill the gap. Advertising/Marketing Specialist A professional advertising and marketing specialist will develop a marketing strategy that incorporates a variety of methods based on the products/services offered, target audience and geographic area. This is not an area to pinch pennies. Getting the word out about your business is vital for success. Business Attorney A Business Attorney provides guidance, ensures that you and your business interests and transactions are protected, creates company specific contracts, ensures that your business has all of the necessary licenses and serves as legal representation. CPA/Accountant A Certified Public Accountant can provide a variety of services such as: Business Plan Development, Business Structure Determination (i.e. sole proprietorship, LLC, Corporation, or Partnership), Tax Planning, Detailed Financial/Cash Flow Analysis, End of Year Reporting, Employee Tax Classification, W-2’s, 1099’s, Bookkeeping and more. IT/Computer Specialist An IT/Computer Specialist can help with everything from website design and maintenance to updates and troubleshooting. A business cannot afford for computer systems to go down, or have their systems compromised by a data breach. Human Resource Consultant An Independent Human Resource Consultant serves as a Human Resource Department for businesses who do not have an HR professional on staff. A new business cannot afford mistakes in this area. The road to ENTREPRENEURSHIP is rough, the nights are long and the words “I Quit” will become a mantra of sorts. It is important to understand that patience is required, along with remembering WHY you started a business in the first place. Keep moving forward, persevere through the tough times, NEVER give up and you WILL succeed!
Open for business, now what? A business introduction letter is
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