What can you do today? Time to effect change!
Understandably you and your finance team will be extremely busy at present due to the pandemonium around the Covid-19 outbreak. With team members self-isolating it is more apparent than ever that doing more with less is vital.
Once the dust settles and you have a minute to breath, then you will no doubt have a minute to evaluate the madness. This is were this article will assist you, this is merely a framework to help you evaluate and evolve and manage more effectively.
Here are some areas that Not For Profit organisations can address right now as part of their Crisis Management approach.
- Stabilise your team. Regular contact with your team will alleviate any fears or concerns and raise morale especially when working remotely. Set clear goals and have your team striving to achieve them. Utilise different forms of technology to engage, at Solutions we are loving Teams but have Whatsapp in order to keep our spirits up.
- Dialogue with donors. Start organising conversations with your larger donors as this pandemic is going to increase demand for the services you offer. Larger donors have greater financial stability and thus will be better equipped to provide further support.
- Financial Management. Evaluate your financial management situation. Are you in a position to preserve cash as this can then be utilised if or when there is a reduction in donations? Build a contingency plan as we do not have any real indication as to the end of this pandemic.
- Marketing and PR optimisation to drive donor engagement. Drive awareness as to your mission and how you intend to provide aid or support to those being hit hardest at present. Use social media, across all streams. Linkedin, Facebook, Instagram and Twitter. Look at streamlining this social media content management, look at Hootsuite.
- Evaluate Current Programmes. Hoping you have an easy means to evaluate and compare the programmes which you run, if not look at options for later in the year (such as Sage Intacct). Establish changes or trends, look at financial investment versus the programme benefits.
- Additional Grant availability. Are you looking to provide assistance related to the pandemic? If so, there maybe additional funding that may apply.
- Additional Revenue streams from fundraisers. Utilise the social media streams to drive additional revenues. Use teams to drive awareness, create events and virtual gatherings.
It is a time to evolve, adapt and innovate. After we have weathered the storm I think (hope) organisations will start to adapt for the long term. I am hoping organisations see the benefit in working remotely, collaboration over different platforms and a drive for greater operational rigour throughout the organisation. I would urge any NFP to evaluate Sage Intacct, with over 14,000 clients globally and over a third are NFP’s!
Want to learn more about our products? Check out our articles:
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Don’t let your business suffer during the crisis