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 We're starting the New Year with a new look and new status. I've decided to walk the talk and launch Friedman Associates, a consulting firm for microenterprise organizations and CDFIs. Our firm specializes in building sustainable organizations that create jobs and businesses in emerging markets.
Our newsletter will continue to bring you best practices, profiles of industry leaders, and tips and tools you need to run a high performance organization. Click here to tell us what you think about the newsletter and what you want to read in future issues. Thanks! |
| Your Formula for Success in '08 |
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Math was not a favorite subject in school, but after countless hours on the chalkboard and cups of black coffee, I've discovered what I believe is a strong formula for success:
Sustainability = M + M + M (G) (huh?)
(M)arkets = have we too-narrowly defined our market? What about low-wealth moderate income folks who also can't get a bank loan to start a business. What about existing low-to-moderate income business owners that are barely in the black, but with the right push, can go the "next level?" Or should you target entrepreneurs that will create jobs for low-income people in distressed areas or in target sectors ("green" anyone?)? Or should you develop targeted strategies to attract women, immigrants, Gen Y's or retiring "boomers" who are projected to be a major source of business growth in the next ten years?
Successful organizations know their markets inside and out and know how to reach them effectively
(M)etrics =What's your "wow" factor? No one really cares about how many classes you offer, the number of counseling hours provided or business plans completed. Is it enough to say you have a 6% default rate? Instead, What's your 3-year business survival rate? What is the increase in business and personal income, sales, and assets? Increase in family stability and civic engagement? Being "green"?
Successful organizations can define success in practical and meaningful ways and prove it!
M(essage) = Developing and delivering effective, uncomlicated messages in support of your mission, programs and expected results is crucial to your success.
Successful organizations have a message that:
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Strategically positions your organization within your market segment.
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Presents a clear picture of your main strengths, capabilities, and competitive advantage.
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States your unique value propositions.
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Clearly shows what your organization stands for and where it's going in the future.
(Governance) = none of the above matters if your board is not fully accountable for the ends (outcomes) and means (resources). Today, nonprofits are being scrutinized more than ever for how they spend public and private funds - and for their results. When was the last time your board assessed their effectiveness?
Sucessful organizations have boards that are fully engaged in assuring for the sustainability of the organization.
Sustainability = M + M + M (G). Is it time to put it to the test? |
| High Wealth Individual Donors: A Key to Sustainability? |
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Did you know that roughly 80% of top level individual donors are business owners?
Surprised? I was too when Melanie, my wife and business partner who specializes in fund development, explained it to me. It would only make sense then, that Microenterprise development organizations and CDFIs could develop compelling case statements for support from high-wealth business owners and entrepreneurs. After all, this group of individuals is most likely to not only understand your mission, but to personalize it as well.
Individual donor cultivation is not easy and it doesn't happen overnight - it may take stepping back and taking a broader look at your organization and asking some initial questions - Do we have a fund development culture in our organization? Do we take full advantage of the funding opportunities that present themselves in day-to-day operations? Are there potential donors that come in contact with my organization - directly or indirectly - that are not being offered the opportunity to support our mission with a donation?
For some good resources, click here. Friedman Associates can assist you in evaluating your organizational capacity to begin cultivating passionate supporters of your long-term success! |
| Green Collar Jobs as a Poverty Alleviation Strategy |
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I highly recommend a new report, by Professor Raquel Rivera Pinderhughes of San Francisco State University, that shows that green businesses are a new source of living wage jobs for low-income people with barriers to employment. Professor Pinderhughes is a key partner in the Green-Collar Jobs Campaign, led by the Ella Baker Center for Human Rights, which is a strategy and action center working for justice, opportunity and peace in urban America. The campaign creates opportunities in the green economy for poor people and people of color through policy advocacy, public outreach, and an employment pipeline - the Green Jobs Corps.
Friedman Associates is currently working with nonprofits to create their own green microenterprise strategies. Give us a call to learn about how you can take advantage of this exciting opportunity. |
| Tell Me Something I Don't Know! |
 Two recent publications have really affected my thinking about our industry and I strongly suggest you read them.
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Thanks for stopping by. Please click here and take a moment and tell us what you think about this issue and what you would like to see in future issues.
Sincerely,
Jason Friedman, Friedman Associates | |
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New Year's Resolutions from Executive Directors |
It's a new year filled with the promise of helping our communities capture new economic opportunities. From my conversations with our customers across the country, I've compiled their top seven resolutions for the New Year:
#1: A Strategic Plan that Doesn't Sit on the Shelf - Kim Jacobs, Community Capital Resources, Hawthorne, NY.
#2: Refine Our Indicators and Outcome Measurements to Demonstrate our Impact - Haidee Stith, South Carolina Women's Business Center.
#3: Board Development Training to Help Assure for Our Success - Joanne Randolph, Women's Business Center of Northern Alabama.
#4: Broaden Our Fund Raising to Include Individual Donors - Rob Boyle, Justine Peterson, St. Louis, MO.
#5: Develop Products and Services to Take Our Customers to the "Next Level" - Nancy Swift, JEDI, Mt. Shasta, CA.
#6: Assess the Future of Our Microloan Program - Debbie Chandler, MAC, Tucson, AZ.
#7: Develop a Plan With Our Economic Development P{artners on a Regional Strategy for Building a Green Economy - Lisa Smith, Enterprise for Equity, Olympia, WA.
Are any of these on your list? Click here and tell us your resolutions for the New Year.
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| Professional Development:
Top 10 Secrets to a Sustainable Program Workshop |
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With the current challenges facing our industry, it's time to re-assess the basic building blocks of a MED program.
This one-day workshop will reveal the ten secrets to a successful program. Drawing on successful practices from industry leaders, we take a fresh look at all phases of program design, including outreach, recruitment, assessment, training, technical assistance, lending, fund raising, and more.
Case studies of successful and innovative approaches to these areas will be reviewed and staff will get a CD-ROM "tool kit" of resources. We tailor the workshop to your organization and guarantee you will implement at least two practices featured.
Bonus: after the workshop, you will get a free organizational assessment and recommendations to increase performance and sustainability!
To discuss bringing this workshop to your staff, call Jason at 319-341-3556.
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