Are All Your Eggs in One Basket? Diversifying your revenue streams
This pandemic has been a stress test for many non-profits. The biggest threat to the future of a non-profit in times like this is the lack of multiple funding streams for a non-profit. Today, those organizations that rely heavily on events, or corporate and government funding, are struggling. And non-profits that only rely on direct-response to bring in the majority of their revenue are reeling. Why? Because having a diverse array of funding streams, especially those who promote individual donor giving, will help you get through economic downturns. And as you know, we’re in a massive downturn at the moment. In this podcast episode, Richard and Jeff discuss why you need to diversify your funding, how to detect where you’re hurting, and how to create a plan to change it.
