- Start a business, any business. And act quickly! Get on the social enterprise bandwagon. You can’t rely just on fundraising anymore.
- Invest in pet projects of your key leaders and split the profits with them.
- Sell all kinds of merchandise with your name and logo if you can’t think of anything else. That always works.
- Come up with cool things to sell to millennials and focus all your marketing efforts on reaching them.
- Remember you’ll always have a competitive advantage in any business over a for-profit business because, as a nonprofit, you’re more trustworthy and you’re tax-exempt. UBIT? Nonsense. Nobody pays that.
- Go big or go home; invest whatever you can in the new business venture even if you have to deplete your reserves. You can’t win if you don’t play the game. But see #7 and #8 for places where you can save.
- Keep the staffing costs down by using your existing staff to run the new venture. No matter how busy they are, they’ll learn to manage. They always do.
- Keep professional fees low by using self-help books, volunteers, and, if you have to use professionals, the most inexpensive professionals you can find (they're all the same).
- Have your executive director make it his or her priority to get the new venture off the ground. Use revenues-based bonuses to get your E.D. motivated.
- Look for partnerships with any for-profits that will donate a part of its sales to your organization in exchange for some publicity. That's just free money.
Editor's Disclaimer: At the risk of offending Screwtape, always consider the source of any tips before relying on them.
