Home › Forums › 4. Implement Section Discussion (Feb 20 to Mar 5) › sustained revenue – won’t be by quick money
- This topic has 4 replies, 3 voices, and was last updated 4 days, 23 hours ago by Judy Evans.
March 8, 2023 at 11:09 am #3447Louise LeslieParticipant
I’ve read a few of the posts on this forum and I feel that I’m a bit of an outlier in that my goal isn’t to make quick money. I also find myself questioning if my business is a hobby – and so to show that it isn’t one – I felt I needed to demonstrate that it can generate a sustained revenue – and not become reliant on grants. This is what led me to this course with a focus on a new business stream of selling my services/product to tour operators/Provincial Parks/museums – vice workshops for teachers. What I have on my side is a bit of time since my products won’t have to be marketed until the 2024 tourist season. I missed the boat for this year, but there’s still lots of work ahead to market and sell my prototype products. As I’ve done in the past few years, I’ll apply for a grant (maybe the last time?) to cover my production expenses so I’m not spending my own money.
The course has forced me to think deeper and wider, to reach out to people to ask questions and get feedback, to make me better prepared, and utlimately lead me to being successful with this new business stream!March 9, 2023 at 7:48 am #3449Erin MelnychukModerator
Thanks for sharing this, Louise! Every business has its own journey. Some businesses scale quickly and others grow more organically. What stands out to me in your comments is that, perhaps, by even trying on the business hat, has allowed you to think differently about what’s possible… and there’s inherent value in that experience. There’s so many nonprofits out there that can benefit from learning to think like businesses do. And actually the opposite is true too… many businesses can learn a lot about how nonprofits think. Trying on different perspectives will always unlock new approaches and new ways of thinking.
Erin.March 12, 2023 at 9:05 pm #3452Judy EvansKeymaster
Louise and Erin,
As you are discussing, the intersection of nonprofit values when applied to a business can create amazing benefits and visa versa.
Going back to our personal and business ‘why’ is powerful and keeps us focused. Never lose sight of your personal ‘WHY”.
JudyMarch 17, 2023 at 8:24 am #3457Louise LeslieParticipant
Erin and Judy, thank you for your comments. If I could go the nonprofit direction, I would; but when I looked into it there were so many constraints with respect to governance. The requirement to have a board of at least 5 people was the show stopper for me. The grant I have relied on to run my teachers’ workshops is only for nonprofit organizations. So the way I got around this was to set up a MOU of sorts with a nonprofit to receive the grant and then I then invoice the nonprofit organization to pay for my services/products. It seems like a very backwards way to do business, but at least now I have an arrangement to work through this – which, by the way, is a first for this nonprofit organization.
I’m leading a field trip next week for some college students and so I reached out to this same nonprofit to support my expenses since they have a grant for outreach that doesn’t require me to be nonprofit. Again, this was another first for them – since they have only supported academics and government employees! They vaguely stated that this was a one-time offer, but I don’t see how they cannot support me again if I meet the criteria – that’ll be another conversation for later. I like being a trail blazer! It’s my personal WHY that keeps me pushing the envelope.
I’ll be in touch again when I’m back from my overseas RnR!! Happy St Patties Day.
LouiseMarch 17, 2023 at 9:30 pm #3459Judy EvansKeymaster
Enjoy your trip!
What benefits are you providing the nonprofit? Let’s explore this.
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