October 16, 2017

10 things I know about ... being a nonprofit executive

Johnson is the chief development officer for Oak Hill CDC. Reach her at mjohnson@oakhillcdc.org.

Goldman Sachs 10,000 Small Business was an eye-opening experience for me. For expanding small businesses, the program provides an intensive growth planning program, which includes online courses and two intensive training weeks at Babson College.

10) The passion and creativity entrepreneurs have is contagious.

9) You, yourself, are a commodity. Your ideas and commitment are worth more than everything else combined.

8) Market segmentation is key to competing in any market.

7) Forecasting growth and funding is critical. You cannot embark on a journey seeing a need or having an idea without forecasting.

6) Even though leaders were there to make profit, they cared deeply about their staff, and in their small businesses, treated them as family.

5) If you don't plan it, and it happens, it didn't happen.

4) You must always look at what is making money and what is losing you money. Critical decisions can be hard, but they are necessary.

3) Numbers (accounting, ratios and money) scare everyone.

2) Finding your niche, whatever you do, is key to success. Creeping in on new business products or programs (or mission creep) is not productive for business.

1) Even though entrepreneurs do not work in a nonprofit, most of their ideas and businesses give back directly to the community and helped solve community issues.

Comments

Type your comment here:

Today's Poll Should life sciences companies do more to promote women into executive positions? <>
ADVERTISEMENTS
Most Popular on Facebook
Most Popular on Twitter
Copyright 2017 New England Business Media