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Stop Spending Money on These Six Things
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Nonprofit leaders, are you wasting money on unnecessary things? I know this sounds like a harsh question, but it’s so important to evaluate. It’s something I see all the time with many of the nonprofits my team and I work with. That’s why, in this episode, I dive into the six main things nonprofits need to stop spending money on and what you can do instead.
I’m sharing strategies for evaluating your budget and how you’re allocating precious resources. Plus, a different way of thinking about these expenses and how you can take a new approach. For example, instead of chasing shiny objects and trying to do every new marketing strategy you see other nonprofits doing, do what you know works for your organization. That’s just one of the many different strategies I break down in this episode. Tune in to hear them all!
Read the podcast transcript here.
Episode Summary
In this episode, you’ll learn strategies for identifying the things your organization needs to stop spending money on, including:
Assessing how effective your programs and initiatives are (1:50)
Staying focused on marketing strategies that work for your nonprofit (4:30)
Using technology efficiently (5:45)
Being strategic about fundraising expenses (8:00)
Conducting thorough executive compensation reviews (12:10)
Evaluating board meeting and travel expenses (15:55)
Teasers
“Not all expenses are bad. We are not talking about this because we are trying to get expenses as low as possible.”
“I don't want to just do things because this is the way that we've always done it. I want to do things because we know that we're going to get the return that we are aiming for.”
“We need to be much more strategic with what we are spending money on.”
Resources
The Best Tools for an Efficient & Prosperous Nonprofit: https://100degreesconsulting.com/tools/
Keep up to date with the podcast: @100degreesconsulting
Follow Stephanie on Instagram: @stephanie.skry/
Connect with Stephanie on LinkedIn: https://www.linkedin.com/in/stephanieskryzowski/
Visit the podcast page: https://100degreesconsulting.com/stop-wasting-money
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