Building High Impact Organizations: Creating Financial Sustainability for Social Enterprises and Nonprofits // BUSINESS 351
Social Innovators Collective is a Partner of Be Social Change
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http://www.eventbrite.com/event/3117098325 and use the promotional code "partner" to receive a 20% discount.
This series is produced by Shana Dressler, Co-founder, Social Innovators Collective
The startup phase of any venture is exhilarating. But who's talking about how many actually succeed? Being named Fortune Magazine's most promising social enterprise of 2012 or winning a large grant does not ensure you'll be in business next year.
It's time to talk about what happens when the rubber hits the road and the real work begins. The emerging phase of one's enterprise building is where most people's initiatives fail. Over 50% of small businesses fail in the first five years due to lack of experience or insufficient capital.
Though no exhaustive research has been done on the failure of startup/emerging nonprofits, it's safe to say it's not a pretty picture. So why is this happening?
Most founders get caught up in their programs and missions at the expense of building healthy social businesses. Some nonprofit founders don't even realize that they are running a nonprofit corporation. And what's needed? First and foremost, a strategic plan. If you don't figure out where your funding is going to come from to pay your salary, staff, office expenses, and program overhead you are doomed.
For many, the day-to-day duties of running a business is what interests them least, but understanding what's needed and putting systems in place is what will keep your doors open so you can do the meaningful work you've chosen.
This workshop series have been designed for anyone contemplating or currently working for a nonprofit organization or social enterprise – entrepreneurs, consultants, city organizers, marketing executives, lawyers, and students will all benefit. Whether you're in the early stages of planning a new organization or have been putting off thinking about financial sustainability for years, now is the right time to tackle these key issues in a friendly, supportive setting.
SESSION OVERVIEWS:
Week One / What Non-Profits Need to Know to Survive (4/3 from 6 - 7:30 PM)
The birth of every nonprofit starts with a founder's deep commitment to a cause that moves them. Programs are created, paperwork is filed, but unlike a business, it's rare to find a nonprofit with a strategic plan in place that articulates financial goals. In 2011, the National Center for Charitable Statistics reported that nonprofit budgets were "cut to the bone" and that their fundraising results didn't improve over the past year. Few early stage or emerging nonprofits have a clear plan of action around their fundraising strategies. Why is this a major problem? Funding is increasingly hard to come by and the lack of a plan leads to almost certain failure. Knowing all this, what can a startup and emerging founder do to keep their doors open? Enter Matthew Klein, the Executive Director of Blue Ridge Foundation New York and adjunct professor at NYU Stern School of Business where he teaches courses on philanthropy and the nonprofit capital market. During this session Matt will break down how a start-up nonprofit can think about long-term sustainability, considering not just the tactics of fundraising but also the general attributes which successful organizations are able to demonstrate to attract resources.
*This class has been designed for nonprofits, however those interested in social enterprise will also benefit from its content.
Matthew Klein is the Executive Director and first staff person of Blue Ridge Foundation New York. Blue Ridge is New York City's social innovation incubator, providing start-ups with funding, space, hands-on management assistance, and in-kind support to produce solutions for advancing social and economic mobility. Blue Ridge is focused now on helping to build new organizations that apply digital technology and data to advance equal opportunity in New York City and beyond. Matt is also an adjunct professor at NYU Stern School of Business where he teaches courses on philanthropy and the nonprofit capital market.
Week One / Identifying A Winning Business Model and Revenue Stream (4/3 from 8 - 9:30 PM) No business plan is ever exactly right. Social Entrepreneurs launching a new venture need to constantly make adjustments as they adjust to an ever-changing landscape and learn from their mistakes. The difference between success and failure over the long term is a mix of how close to right you are at the start, how quickly you can adjust along the way, and how fast you burn through your capital. In this fast paced 90 minute class we'll look at ways to evaluate your existing business model, find sources of revenue, make sure you've got the capital it will take to get to sustainability. We'll explore questions like: Will my enterprise be able to make enough money to grow? Do I have enough cash to make it to sustainability? How can I lower my burn rate? You'll find the answers to these questions and more from Andrew Greenblatt, a successful serial Social Entrepreneur. He is also an adjunct professor at New York University.
This class has been designed for those interested in social enterprises.
Andrew Greenblatt is currently involved in two young companies. He is the Founder and President of Vendorboon, LLC, a company that uses the purchasing power of trade and profession associations to support and encourage socially responsible vendors. He is the Strategic Vice President of Benestream, Inc., a company that helps employers of low wage workers apply for food stamps. Andrew is also an Adjunct Professor at NYU's Wagner School of Public Service where he teaches a course in Social Entrepreneurship. He has made a career pushing the envelope in a variety of socially responsible ventures.
Week Two / How to Run a World-Class Organization: One Day at a Time (4/10)
No great nonprofit or social enterprise was ever built on a great idea alone. In fact, if you run out of money, your passion alone will not keep you in business. There's a lot that needs to be aligned for success, but one thing that's for sure is that your organization or company's ultimate success has everything to do with day-to-day operations which is often the job of a Chief Operating Officer. If you are a visionary and you're more interested in big picture thinking than execution, you need someone standing shoulder to should with you to get things done. Much like the adage we all know that unveils the source of a man's true greatness, "Behind every great CEO/Executive Director, is a great COO!" What are the exact duties and tasks that fall on the shoulders of a COO? Where do you draw the line between the work of a CEO/Executive Director and the COO? You'll find the answers to these questions and more from Aria Finger, COO of Do Something, where she oversees the HR, marketing, programmatic, and business development activities. She is also an adjunct professor at New York University.
This class has been designed for those interested in both nonprofits and social enterprises.
Aria Finger is the Chief Operating Officer of Do Something, the national not-for-profit that empowers teenagers to take action around causes they are passionate about. She oversees the marketing, programmatic, and business development activities for the organization. With her cause-related marketing experience, Finger has managed initiatives with Staples, A
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