Why You Should Approach Philanthropy Like A Business Exec
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Transcript of Why You Should Approach Philanthropy Like A Business Exec
JEFF GREENSTEIN
PHILANTHROPY
BUSINESS EXEC
WHY YOU SHOULD APPROACH
LIKE A
Many successful philanthropiesoperate very much like a businessenterprise with an organizational
structure, core values and mission, andshort-term and long-term goals.
Retaining the option to expandis a common practice forbusiness executives.
Starting small and testing differentinitiatives is prudent in the short-term
but there should be a constant focus onhow the operations can scale to achieve
greater impact once the model is proven.
The success of a business isdirectly linked to the quality
and talent of their team and theculture they operate within.
Attracthe r
o
Encoumentaand emsolid f
Attracting, engaging and retainingthe right people is critical in any
organization, business orphilanthropic.
Encouraging a collaborative teammentality between board memberand employees can help to create asolid foundation for the charitable
organization to grow.
ess isualityand the
within.
Philanthropic organizations should be treatedlike a business in that the basics of efficientoperations are critical to long term stability
and future growth.
Consider how the organization is managing itsmoney so you aren’t donating to a cause that
may not end up using the money wisely.
Examine how much of the actual capital donatedultimately makes it to the underlying beneficiaries
You’ll need anentrepreneurial spirit to
identify the root causes ofthe targeted problems thephilanthropy is addressing
in order to come up witheffective long-term
solutions.
Throwing money at aproblem is a short-term
solution
Every successful businessexecutive appreciates the
value in developing a strategicand tactical plan and thenrelentlessly focusing on it.
Approaching philanthropy like a businessexecutive can help you make choices that
will have the most impact in thecommunity, and possibly beyond.
GREENSTEINFAMILYFOUNDATION.ORG
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