What is it exactly and how could it benefit our nonprofit organization?
What are some examples of earned revenue?
- Assets. Something you own, produce, or generate that can be monetized. These could be hard assets, such as real estate, products, or even waste, or soft assets, such as a service or intellectual property.
- Points of Leverage. Opportunities for earned revenue may arise from a new collaboration. Another point of leverage may come directly from your mission, such as by selling a service to a new audience or creating a social enterprise. Think Girl Scout Cookies.
- Marketing Mojo. Sheer creativity and marketing may inspire other earned revenue sources. Corporate sponsorship, events, tours, trips, membership, and merchandise are all sources of earned revenue.
What are the risks and other considerations?
What are the costs of earning revenue? How long does it take to make that expense worthwhile?
How does an organization get its board and staff engaged?
How can staff at organizations that are already so over worked and stressed take on creating a new business along with their other work?
Will this preclude me from accessing other funding streams?
Is it worth the time and effort compared to writing grant proposals?
Can we hire an outside entity to earn revenue for us and how do we go about it?
How could we get started developing earned revenue?
What is the best strategy for an organization to continue to receive earned revenue from the same source annually?
- Purchase the webinar recording of From Money Pit to Moneymaker: The Nonprofit Executive Guide to Earned Income by clicking here.
- Download the complete Guide to Earned Revenue, click here. It’s free.