Triple Bottom Line: How to Raise More Money & Drive More Impact

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Most business leaders focus on the bottom line—the one that measures a company’s profits.

But there’s another bottom line you should be focusing on and that is the triple bottom line—the one that measures a company’s impact.

In this episode, host Stephen King shares some tips on how you can raise more money and drive more impact in an organization.

Whether you’re involved in a nonprofit or know someone who is, you’ll find value in listening – because for-profit businesses should be run like the best nonprofit organizations, and vice versa.

Steve explains:

  • How to beef up an individual giving program
  • Why you should implement donor impact statements
  • Why you should convert your annual donors to monthly givers

Download our Nonprofit Ebook to help you raise more money and stay on the lookout for our On-Demand Webinar:

For more episodes like this one, find us on Apple Podcasts, Spotify, or our website. 

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And if you can show them the tangible result of what that hundred dollars per month is going to buy, the outcomes that's going to happen. You're going to get higher average gift, you're going to get more frequent giving and you're going to solve your cash flow problems. You're listening to path to profit, a podcast looking at business growth from every angle possible. If you're looking to hear stories of success and failure, lessons learned from leaders that have grown and scaled their businesses, you've come to the right place. Let's get into the show. Traditionally, business leaders focus on the usual bottom line, the one that reflects the company's profits. However, there is another bottom line that you should be focusing on, the triple bottom line. The triple bottom line framework looks at the impact that a company has on the world, including how do they give back. Many business owners give back by being on the boards of...

...nonprofits or making contributions to organizations they care about. As we enter the giving season, the topic of this episode is a Snippet from our recent nonprofit Webinar. Five steps to run better, grow faster and raise more money. Whether you're involved in a nonprofit or know someone who is, you'll find value in listening to this episode, because for profit should be run like the best nonprofit businesses and vice versa. The thing that really gets me exciting is when accounting can help you raise more money. One of the things that fascinates me is when most of our nonprofit clients, when they first come in, I look at their guide star reports and you can see that most organizations get most of their money from foundations and government grants, when in fact that eighty percent of all given, according to giving USA, the two thousand and twenty report just came out, eighty percent of donations come from people. Yet most organizations development officers are not focused on individual givers. Only three percent of giving in the...

United States comes from events, five percent comes from corporations and only twelve percent comes from foundations in government. And once you know the outcomes that help you further your mission the most and you know the cost and the revenue and the cost per outcome, now you can start to build up your personal solicitation program, your individual giving program. You can raise more money if you can show them the program effectiveness, because donors want to know how their money is being spent, and so we suggest to use what they call donor impact statements. It's a way to get your numbers, to tell your story in an interesting way. You can look in the say okay, for if you contribute fifteen thousand dollars a year, here's what we're going to do with this. Leans in the torture revolution, support survivor support coalition in Washington. But by being able to go and see he wanted to be able to hire a pace worker, a lawyer to help coordinate the work of volunteer pro Bono attorneys. And there was a when you add up the cost of the base salary, which...

...is about fifty five to sixty five thousand, plus the benefits, plus the allocation of the overhead and the executive director story, it's a hundred thousand dollar position. By going to the next donor he went to, he's able to say, they said, what would you do if you've got some more money, that I would hire this volunteer case worker to be able to coordinate the work of twenty five lawyers, because each of them could handle twenty cases. And now I'd be able to handle five hundred more refugee applications. You've taken something that's hard to conceptualize and showing it as a tangible result. By in contributing a hundredzero dollars, we're going to be able to handle five hundred more cases. Now what you want to do is take that annual cost and break it down per month, which we're going to talk about monthly giving in a second. You also want to be able to do it take it down her day, because then you're able to really show the donors the tangible results. There are OI at the village learning center. This example showed you the cost...

...per day to serve one villager and it describes what the money's used for in the impact of their donation. And the way you do this, if you use unit economics, you're able to show the cost per month, per day and the impact that it has. And what we suggest here is this is one thing we did an Amastan international who's really worked convert your annual donors to monthly givers. Asked your annual divers to drop the last zero to giving you a thousand dollars, drought the last zero it's a hundred dollars, and ask them to give that each month. Now you've just increased the amount that they're giving you by twenty percent and if you can show them the tangible result of what that hundred dollars per month is going to buy, the outcomes that's going to happen. You're going to get higher average gift, you're going to get more frequent giving and you're going to solve your cash flow problems, because that's one thing every nonprofit has. You get most of your money comes at year...

...and you got a spring event, maybe a golf outing in the summer and in between it's really difficult. And what's really great about all this monthly giving program is it's so easy right now with the technology, to automated without having to pay a credit card fee, to step an automatic ach and then you can email or write a letter to your donors every month show them pictures and stories of how you gave them, how their money made it difference in the world. This has a really big impact. So what's been the result of all that's well, the village learning center is now a five million dollar organization with over a hundred and seventy five clients. The Fort Ben Women shelter has gotten increased their revenue because they were able to get donors to show the cost of the vocational trainer and the behavioral support to let them raise more money to create more outcome and will chairs with warriors, as we mention double they're grant from one foundation, from seventy, five hundred and fifty, because they had...

...the ability to show what the tent Bos all thank you for joining us on this nonprofit episode of the path to profits podcast. For a good blog on the triple bottom line, visit the link in the description of this episode to sign up for our next nonprofit Webinar and here the full five steps. visit the link in the description of this episode to register. Growth Force is the smart back office solution that CEOS need for better financial management of their business, delivering a level of reliability, consistency and expertise that is typically reserved for mid market companies. From advanced bookkeeping, management, accounting, controller and advisory services, growth force provides dedicated teams and cloud based technology that becomes a scalable solution for your business. We meet you where you are. To learn more, visit growth forcecom. You've been listening to path to profit. To ensure that you never miss an episode, subscribe to the show in your favorite podcast player.

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