Innovation is a hot topic in the for-profit business world but coming up with novel approaches to longstanding issues is just as important in the not-for-profit sector. Both NFPs and profitable businesses are being pushed by governments and other stakeholders to do more with fewer resources, and each sector can learn from one another to find new ways to become more efficient and effective.

Does Your NFP Have What It Takes to Drive Innovation?

If you want to be able to create genuine impact, then you must embrace change within your organisation! It takes a special “atmosphere” to be able to stimulate the development of new ideas.

Your leadership must take the actual lead and re-invent your organisation’s culture so that it supports greater openness and diverse perspectives. To create and implement creative solutions, NFPs must first embrace greater risk-taking.

Finding a new way to generate more support for your NFP could be as simple as asking yourself just when was the last time that your nonprofit did something different?

Changing Things Up

Has your NFP’s growth stalled? Why not look to the business world for inspiration to help your nonprofit reinvent its strategy and drive higher growth?

Self-Funding

Tired of continually scrambling for donations and other sources of funding? One area that many nonprofits traditionally overlook is self-funding. If your nonprofit is continually struggling to find the monies to build capacity and grow, consider selling products or services that align with your nonprofit’s mission.

Join the Party to Increase Your NFP’s Access to Resources

In the corporate world, it’s not that unusual to see one or more companies form alliances to help one another accomplish similar goals by sharing the expertise of their personnel, equipment and other resources. By cooperating with one another, each entity can achieve more, and use fewer resources in the process.

This strategy is just now gaining popularity in the not-for-profit sector. To increase your NFP’s impact, consider a partnership or other mutual aid agreement with one or more third-parties to help you reduce costs, and offer a greater number, and quality, of services to your beneficiaries.

Embrace Big Data to Discover Needs and Improve Quality

For decades, profitable companies have been using big data to gain more insight into consumers so that they can develop new products and services that their customers actually desire. NFPs can create more relevant marketing campaigns and services by automating the process of data collection across all their platforms and activities so that they can learn more about their service beneficiaries, volunteers and donors. They can then use this information to improve their results in several areas.

For example, in addition to improving marketing results, and volunteer satisfaction, NFPs can use big data to discover megatrends as well as changing tides on their local level. This information can help nonprofits uncover the true impact of their programs, giving them insight into ways they can offer more useful services that are customised to meet their beneficiaries’ actual needs.

How innovative is your nonprofit? Are you encouraging your team to step out of their comfort zone and look at long-standing problems in a new way? Are you ready to embrace new ways of doing things to drive continuous improvement? Don’t let fear of the unknown hold your nonprofit back from opportunities to create more good in the world!