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CONFESSIONS OF AN ENTREPRENEUR
Earned Revenue - The Most Important Source of Income For Nonprofits
Especially in the current economy, if you manage a nonprofit, I highly encourage you to diversify your revenue sources. If you plan to stay solvent, you don't want to over-rely on any one source of income. Having multiple streams of revenue will increase the likelihood that your business will sustain over the long term.
A common misconception about nonprofits is that they can't and shouldn't make a profit. This is totally untrue. A nonprofit is a business and it should make a profit. Unfortunately, the majority of people who start nonprofits don't fully understand how to develop a nonprofit business model that generates sufficient revenue to make a profit. The formula is fairly simple. You create a product and you sell it. To read more about developing a nonprofit business model click here. If you need help developing your model, call today to schedule a consultation, (770) 286-3128.
Chataun R. Denis
Nonprofit Business Consultant & Trainer |
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