Why is it that some companies flourish while others remain stagnant? My experience in the nonprofit sector has taught me that organizational success is intentional. It requires careful planning, organized thinking, and intense collaboration. In order to remain competitive in today’s nonprofit market, corporations must continually evaluate their effectiveness in carrying out their mission.
As an Executive Coach I have witnessed first hand some of the secrets to building a successful nonprofit corporation. I have seen companies fail in areas that are critical to their success and have had the privilege of helping them restructure, reorganize, and realign themselves as a top provider in their field.
Here are some of their secrets to success……READY?
1. STRATEGIC THINKING– If a company is going to excel it must master the art of careful planning. Every major policy and practice with a potential for major impact should be well thought out and judiciously implemented. When it comes to the success of a corporation there is little room for risk. Leaders must be strategic in how they use their resources, expand their services, and plan for financial disaster. Always seek guidance from the experts and prepare for potential threats by developing strong contingency plans. Remember: You are never too great or too big to crumble! TAKE YOUR TIME.
2. TREAT EMPLOYEES AS INVESTORS– Your staff are your greatest asset. Treat them as such! Executives often become so preoccupied with regulatory affairs and bottom lines they forget to nurture the relationships they have with their employees. Take the time to get to know your team-meet with them regularly, understand their vision for the company, and most importantly, make them feel valuable! Whether you recognize it or not, they are instrumental in building your company’s brand and will play a key role in your expansion efforts. Remember: people will go above and beyond for a company that gives them a reason to invest in its’ mission.
3. FOCUS ON TRAINING AND DEVELOPMENT– Successful companies know the value of skill acquisition. They invest in their staff and regard professional development as a priority. They have higher employee retention rates and are more likely to meet regulatory standards. Often, Executives will vote to cut costs in this area but support a decision to allocate funds for “Taco Tuesdays” at the office. Sounds ridiculous doesn’t it? Now is the time to reevaluate your budgets and do what is necessary to invest in your team’s education. Remember: Training and Development is not a luxury-it is a necessity. Allocate these funds early on and watch your organization rise to the top!
4. COLLABORATION! COLLABORATION!– Non profit organization rely heavily on relationships. If your corporation is to be regarded as a top competitor it must learn to make friends. Many companies have failed in this area because they are greedy. They hold on to their resources and form a corporate bubble around them in order to shield themselves from the “others.” I have news for you-isolation leads to destruction. Corporate partnerships are instrumental in the non profit arena for the simple reason that they create opportunities for growth. Just as no one individual has all the knowledge in the world, no one company has all the answers. Reach out to your competitors and learn from them. You may be surprised by what you have to offer one another…
5. STRONG DOCUMENTATION– Successful nonprofit organizations have perfected the art of documentation. They develop policies and procedures for this practice and recognize the benefits of maintaining accurate records. Sure, helping the poor and treating the mentally ill is great but do not forget that you are still a BUSINESS! Train your staff properly and always lead by example. Successful nonprofits set standards for documentation and in doing so, experience fewer financial set backs and legal ramifications. Remember: if you don’t write it down it didn’t happen!
Successful corporations know the value of excelling in these 5 areas. They set themselves apart by investing in their employees and developing practices which promote organizational excellence!
If your company is ready for a fresh start email me at email@example.com to begin your Executive Coaching journey!