Do you HAVE to ask your nonprofit board?
I was listening to a personal finance podcast the other day. My favorite one right now is Ramit Sethi's podcast here. He interviews couples about how they manage (and fight about, disagree about, stress over) their finances. The other day he was talking about ‘the number’. You know, the highest dollar amount you each can spend without asking your partner…so interesting!
I love his podcast because it’s all about money mindset and money rules….and that’s where there’s TONS of overlap with my work.
These episodes totally resonate with me because I see multi-million dollar organizations who don’t have ‘the number’.
You know, the number you can spend without asking your board.
And when you don’t…here’s what I see:
🥺 The ED or CEO hand-cuffed when it comes to spending
🥺 Stress and guilt over asking for anything that wasn’t in the budget
🥺 No ability to respond or invest in a growth opportunity when it comes your way
The other day I asked a prospective client how much authority she had when it came to budget variance…she had no answer.
Another client? She has a 3-5% budget variance she can work with.
Pause and do that math.
Leaders - You’ve got to know ‘the number’. It’s larger than you think. And then, you must be empowered to spend it if a need or opportunity comes your way.
🎯 You need ‘the number’ so you can efficiently run the business/nonprofit. I’m not saying go hog-wild. But, if you are going to the board for every $5,000, $10,000, or $20,000 decision, how will you ever get anything done?
Don't be handcuffed by your budget. It may be the thing that's keeping you from growing.
To your success,
Sherry
Whenever you’re ready, here are THREE things you can do next:
👣 Follow me on LinkedIn and subscribe to my podcast, The Business Behind Fundraising // I give away insider info every week - the same lessons I teach my clients about what they can do to attract larger gen-ops dollars and add 7-figures+ to their bottom line.
📝 Read my WHITEPAPER to see what’s keep you from having enough gen-ops funding each year // You’ll learn THE BIG FUNDRAISING SECRET that keeps nonprofits from securing money for programs AND infrastructure initiatives in their strategic plans. Here to get it.
📈 Work with me to put your organization on a 2X - 10X revenue trajectory // If you’re already raising millions and want to start securing larger amounts of gen-ops dollars you can apply to work with me here.
