20 Ways Your Nonprofit Can Spend Extra Revenue
- Pay your staff what they are really worth.
- Upgrade your computers and technology to enhance productivity.
- Get out of debt.
- Augment programs paid with government contracts that barely cover costs.
- Invest in professional development.
- Hire a new staff member or two.
- Create a new program.
- Have energy and creativity to innovate a service that generates predictable earned revenue.
- Expand to a new market.
- Invest in a marketing strategy.
- Invest in an organizational strategy.
- Invest in resources needed to launch a new strategy or marketing strategy.
- Attend industry conferences.
- Build thought leadership.
- Create or expand your reserves to 6 to 12 months’ worth.
- Upgrade your office.
- Hire a graphic designer.
- Invest in video production and visual assets.
- Update your organization’s branding.
- Invest more deeply in programs so that your constituents benefit even more.
- Bonus: Leave a legacy for my organization.
Reread this list. Then add to it.
What will you do with surplus revenue?
Did you find this article valuable? Save the date—December 5, 2019—and join my colleague Karen Eber Davis and me for Breaking Through the Million Dollar Glass Ceiling, an online, interactive webinar. We’ll show you how to crash through the impediments that are stopping you from achieving your desired revenue goals.
Just imagine what you would do if you crashed through your glass ceiling and had profits to play with.
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