If you were starting a nonprofit from scratch, what would be your first move?
In the latest episode of the Raimy and Bini Podcast, we walk through how we would each approach starting a brand new organization.
(Bini even put together a chat-gpt-fueled advisory committee that guided him throughout the process.)
We talk about the pros and cons (well, mostly cons) of starting a nonprofit and the different ways to think about the business side of things.
We ask questions like:
Should you focus on service provision first, or lock down your financials?
How do you analyze similar organizations in your space?
Is competition a threat or an advantage?
What metrics actually tell you if you're succeeding?
What are the fundamental differences between starting a nonprofit vs. a for-profit business?
What type of person (and with what background) is best suited to start a new organization?
This episode covers a lot of ground—perfect for newcomers and grizzled veterans alike.
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Good of the Week:
Raimy: His Accountant! (Yes, you read that right!!!)
Bini: Dana Snyder and the Monthly Giving Summit
Find Dana here: https://positiveequation.com/
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Chapters:
00:00 Introduction and Feedback on Previous Episodes
02:33 The Importance of Guest Contributions
05:15 Gratitude and Positive Experiences
08:12 Monthly Giving Summit Insights
10:58 Starting a Nonprofit: Challenges and Considerations
13:43 Identifying Needs and Competition in Nonprofits
16:30 Understanding the Nonprofit Landscape
19:21 The Complexity of Nonprofit Funding
21:47 Differentiating Between Service Recipients and Donors
24:31 Exploring Alternatives to Starting a Nonprofit
27:28 Social Enterprises vs. Nonprofits
28:56 The Purpose of Nonprofits: Results Over Existence
33:13 Generational Shifts in Nonprofit Leadership
38:09 Funding Fundamentals: Identifying Financial Support
44:17 Metrics and Impact: Measuring Success
48:33 Building a Supportive Board: The Importance of Community
52:08 Fiscal Sponsorship: A Pathway to Nonprofit Launch
55:54 First Steps: Crafting a 90-Day Plan for Success