The idea of social entrepreneurship is to develop, fund, and implement solutions to causes that benefit the community or environment. Today, this is a very common route for people looking to start their own companies or organizations. However, the idea of a non-profit is frequently associated with volunteer work, thus deterring some entrepreneurs who may otherwise flourish in this field. In order to maintain a successful organization while making enough to sustain yourself (without harboring illegal profits from the organization itself of course), there are a number of strategies you can implement.
Government, foundation, and corporate grants are very commonly sought after by founders of non-profits. Through these, portions of the granted funds may be allocated toward the expenses of those in charge. These expenses may include benefits packages, or salaries of executive employees.
An obvious tactic every non-profit implements, holding fundraisers for your cause that are explicitly established to allocate a portion of the funds raised to other expenses can help tremendously. It is important to practice transparency when using this method however, as those donating will want to know where their money is going. Should you be able to raise enough from your fundraiser, you could put a good portion of your earnings toward operational expenses and administrative costs.
It is crucial to take into account the revenue your non-profit will generate annually, and budget your salary, benefits packages, and potential bonuses accordingly. Trust yourself along the way and set high, yet realistic goals. Assuming you’ll only make a small amount of money your first year could directly result in minimal effort on your part, as well as members of your organization. Don’t be afraid to spend money on effective marketing, as this greatly expand your audience, thus bringing in more revenue.
Running a non-profit organization is no easy task, and doing it alone will almost guarantee failure. Work with those who share similar interests and passion in what your organization does. These can be friends or family members, or experienced colleagues that you trust to perform the necessary duties of a non-profit team member. As everyone has been told at some point in their lives, there is no “I” in team. While you should absolutely do as much work as you can without exhausting yourself, don’t be afraid to mitigate overwhelming tasks. With that said, develop training programs, always reward excellence, and don’t be afraid to celebrate success.
Enjoy Your Work
Non-profit organizations are created from inspiration to make a change in a field that one is passionate about. To allow this work to become a chore would be contradicting the cause. Always remember why you started your organization, and strive to improve it every day, smiling along the way. Work should be fun. Some of the most successful non-profits in the world stem from those who truly wish to make a change, and will do anything to reach their goals. A leader who instills positivity into everything they do will see their employees adapt accordingly, thus spreading the passion throughout.