The pandemic wreaked havoc on the ability of many US nonprofits to fundraise in traditional ways. The pandemic forced nonprofits to connect with donors virtually. This has created significant challenges for a sector whose hardware and technology are not as robust as the for-profit sector. Now, we have new market forces entering the national landscape. The reopening of economies brings the realization that the behaviors and goals of donors, partners, sponsors, members, and volunteers have changed. While in 2020 much of the US was holding online virtual events, the US is once again seeking larger in-person events. How these events take place, their regional cultural acceptance and the requirements for such events can vary greatly depending on your location. But even locations with the most conservative restrictions for large events are now opening. With this shift brings opportunity for nonprofits to take advantage of market changes to help your organization grow. The following are a list of opportunities to consider that foster organizational growth within the current trend and shifting landscape of reopening economies.
Large corporations are bringing their staff back onsite. From Apple to Google to Salesforce and other large employers are starting to require their staff to be in office more. This brings a significant opportunity for nonprofits who are open to hiring fully remote workers. Many workers have been exceptionally effective in a fully remote model and are seeking to work in roles in this model. This brings a competitive advantage for employers open to hiring 100% remote workers. Now is the time to adjust your long-term remote policy to hire the best talent on the market.
Corporations and all US sectors are looking for in-person events to spread their message. The pandemic put a serious hold on industry events, networking conferences, and opportunities for corporate partners and donors to attend in-person events. Corporations and donors have been starved for public in person events. Organizations that move quickly and hold large scale events while there is such a push to attend and get corporate messages out will gain valuable new partners.
Mass employment shifts. Major news outlets have shared the statistic that one in five staff members are looking to change jobs at the end of the pandemic. In addition, there has been a huge increase in staff members seeking more meaning in their work and wanting to work for employers who care about their team. Increasingly job hunters are seeking work that holds meaning and connection for them. The combination of individuals seeking new opportunities and also seeking meaning in their work presents an opportunity to hire experienced and talented staff. Now is the time to have a hiring strategy to reach this talent.
Economic viability adjustments and calls to action for funders. Operating with a sustainable financial model has never been more important. Many nonprofit organizations have seen an increase in demand for services while also experiencing significant changes and hurdles to their funding. Funders are well educated on the challenges most nonprofit organizations have faced recently. Using the market forces and news which impacts your organization can present significant funding opportunities to have your donors and partners double down to help you become more financially secure. This takes being willing to have personal and individual conversations with donors. Presenting the specific challenges facing your organization can be a significant motivator for major donor giving. Do not underestimate the power of sharing knowledge and truth to help your organization be financially sustainable. Sometimes crisis can be a powerful motivator for change and organizational growth. Significant opportunities exist for organizations to join forces, merge, go virtual, and recreate their business model while also staying true to their mission.
Market instability. There have been incredible wins made on the stock market, in crypto currency, and real estate. There is discussion that significant market decline is possible in the near future. This is widely debated and not agreed upon. But what we know for sure is market instability is a driving force to encourage investors to take money off the table. With such sales comes significant tax liability that can be offset by making donations. Have an outreach plan that can put your organization in front of investors. These individuals with newfound wealth are an amazing network to tap into. Partnering and advertising with financial trading and crypto systems can reap amazing benefits. Also, if you are not set up to accept bitcoin and crypto currency you should be immediate rectifying this. If you wait, you will likely miss your opportunity when a funder is seeking to give through these alternate means. It takes time to set this up and you do not want to miss your window!
The power of now. Allowing organizational structure to limit your success is a big mistake and one of the leading causes of declining organizational impact. Now is the time to educate your board on the importance of the organization evolving and capitalizing on the shifting employment and market forces. Organizations that limit their thinking and confine their decisions and operations to past historic process will never grow in scale. Building an impactful, creative, experienced and positive board is extremely important. Also, creating a positive culture for your employees to thrive by removing roadblocks is extremely important. Now is the time to invest in your organization’s future and leverage the new business demands.
This nonprofit blog editorial is provided by Foundation List. The information herein is not legal advice nor specific strategy advice for your organization. This information is provided as a learning tool for the nonprofit sector. Any strategic direction or path should be carefully reviewed to ensure it is viable for your organization or business model. We additional highly suggest hiring a fundraising or organizational development consultant to ensure your organization is set for success!