In past episodes we’ve spoken about Financial Governance, but what does that mean for anyone who is preparing to set up a new NFP? How do you create financial governance? Opening a bank account, tracking expenditure and reporting? It might sound simple, but there is a process. I’ll touch on some key areas that I think are worth considering as well as how your systems and processes can even aid you in measuring your overall impact. As a new NFP, you’ll find this information...

Delivering on purpose requires people ‘doing’ something, and as the founder of a new NFP, setting up a framework for people and organising the ‘doing’ is essential. In this video we’ll discuss the evolution of the doing and what that looks like for the founder, as well as the people they will ultimately work with along the way. What should we consider when developing a framework for people? What is to be done, who is going to do it and when are they going to do it? Let’s talk abou...

Risk management may seem a bit of an overkill when starting or setting up an NFP, and for those setting one up it can feel like you are already going all in, so what is a little extra risk going to matter. In today’s episode I provide some clarity around risk and highlight the benefit of managing risk early on the NFP set-up journey. I’ll talk through why we look at risk, where to start and some simple but effective methods. Risk management is a valuable tool which will ce...

So, you’re in the process of setting up a NFP and you want to ensure it has a good foundation for its governance practices. Where should you start? In this episode we get clear on what governance is and identify components that set the foundation for governance. Do you need all of them? No, it’s about developing them on the journey and using them as tools to create alignment with your purpose throughout the organisation. Once an initial framework of governance is established, you ...

Understanding your customer and who you are selling to is important in any business, but did you know it is even more important for NFPs? We need to look a bit deeper in the NFP space as we often have more to sell than the product or service we are providing. So, in today’s episode I will discuss the practicalities of generating cash for your NFP and getting clear on the revenue side of a NFP and accessing various revenue streams. Once you can access revenue streams, you are able to hel...

Two of the most common questions I get from people who are looking to start a not-for-profit are: "Can I pay myself?" and "Can I be on the Board while working in the NFP?" Whether you have an NFP or are looking to set up an NFP, it can be very useful to understand the relationship and dynamics between Members, Directors and Employees. As a founder, can you be all three at once? In today's episode, I clarify these roles and responsibilities and discuss how to achieve a balanced NFP struc...

In this podcast I talk through the NFP start-up process - from a practical point of view. What should you consider when starting your NFP journey? If you are in the planning stages or looking to take the plunge and start your NFP journey, you might want to have a pen and some paper handy! I'll be focusing on the practicalities of starting a NFP in upcoming episodes, each one will cover a different aspect for you to consider when starting up a NFP. Connect with me on LinkedIn o...

In this video I share my views on the number of not-for-profits as well as touch on the role not-for-profits play, how innovation and diversity play a key role, and some data that might help further frame this conversation.Ultimately, I believe it is important to have a strong not-for-profit sector which is supported into the future. It is a sector that has its own characteristics and nuances that are important to understand as well as potential advantages that other sectors don’t have.If you...

It is a good practice to read through and review your Constitution annually to ensure it remains fit for purpose. And if there are changes required, it is important that these aren’t put off because the process seems intimidating or too difficult. Updating a constitution to stay in line with an organisation's evolution, is critical to governance and not as impossible as you might have thought. In today’s video we discuss the process of making changes to your constitution; how to m...

Are you following Best Practice in governance? This term is utilised in many board discussions and is often taken as the ‘way’ of doing things. However best practice isn’t always “best” for your Board, especially when looking through the eyes of a high performing Board. In this video I’ll explain why, from the perspective of a high performing Board. Does best practice make a better Board, or is it something else? Feel free to share your comments, head over to Right Source YouTube or Link...

There are many reasons why an NFP would look to merge or be acquired but like everything, a merger or acquisition is more likely to succeed if you have a plan or strategy to achieve it rather than just hoping. In assessing the viability of a merger or acquisition it’s important to obtain the ‘why’ and the ‘common motivation’ for all in this process. In today’s video I’ll discuss the merger process for not-for-profits and touch on a few key areas for consideration.Connect wit...

What does it mean when you are a Treasurer of an Association moving to a Company Limited by Guarantee and then becoming a Director on the Board, and what affect does the role change bring? Before we start thinking about the size and sophistication of your organisation, it’s important to see things from an operational perspective when defining roles and responsibilities. Some Treasurers of Associations, who look to understand the implications for their role when moving to a Company Limite...

In a business or work context, the phrase “better to be lucky than good” is one that I have come to associate with. On face value the phrase seems a little comical, but there is a meaning to this and one that I personally align to. In doing this it requires an exploration of what being lucky means versus being good, in the context of business and personal success. Is it the lucky characteristics that drive your achievements? Or the fact that you are good at what you do?Feel ...

What is an “in-camera” session at an NFP Board meeting? In today’s podcast I discuss the; what, who, why, when, and where… of the in-camera session.When executed well, everyone stands to gain from the in-camera session, from the Board, the executive, through to the way the organisation creates an impact. Does your NFP Board meeting include in-camera sessions? Share your thoughts in the comments on LinkedIn or visit our YouTube channel.Connect with me on LinkedIn or vis...

As a not-for-profit, are you clear on who your customers and beneficiaries are? In my experience, those that are clear on this perform better overall in terms of sustaining their organisation and delivering long-term impact.In this video we’ll discuss customers and beneficiaries from both a for-profit and non-profit viewpoint. It’s useful to reflect on how they're different and why that might be a consideration for you.Connect with me on LinkedIn or visit our website rightsource.com.auIf you ...

When I think about the NFPs we work with, I would like to see that their impact endures. That the changes they made, the lives they touched is remember and continues to have ripples long after the NFP ceases to exist. Being in a NFP is about playing to win, while sustainability is more about playing not to lose. So, how do we make your NFP enduring? In this video we discuss what you might like to think about, the next time your Board broaches sustainability. Connect with me ...

Thinking about becoming a Company Limited by Guarantee? In Australia, when an incorporated association is looking to make the transition, each state is slightly different. With that in mind, I’ll talk through the principles involved the overall process, before touching on a few issues for you to consider. Changing to a company limited by guarantee, is an involved process and will cost time and/or money. Information and experience therefore, become crucial.Connect with me on Linke...

Is Financial Governance something unique to the NFP space? No, but it is needed, and it’s very obvious when an NFP doesn’t have it in place. Financial reports left to organically grow, can turn into lot of reports. This is something that is very painful to deal with at a Board level, so how do we turn these excessive reports into good governance? I’m not talking accounting specifically, it is about having knowledge of these aspects and lifting what are “normal” accounting processes, into...

As the CEO of an NFP, telling your story in meaningful and consistent ways is vital to delivering on your purpose. In this video I discuss storytelling through the language of accounting, and why the CEO, Board and stakeholders should speak it regularly to tell their story. Creating a meaningful story with the numbers on the page may be challenging at first, however when spoken regularly, this unique approach has many benefits. Using the language of accounting in storytelling creates co...

Are there too many not-for-profits? Is this causing the NFP sector to be ineffective? Would consolidation improve efficiency in the NFP space? These questions frequently play into conversations. However, let’s not forget, in the NFP space our DNA is all about finding solutions to problems not yet solved. In this video I discuss the consequences of NFP consolidation and offer an alternative. With NFPs being a space of innovation, I believe there is a better solution. Co...