Ep 11 I So You Want To Start A Non-Profit? The Hard Truths, Big Wins & First Steps

If you were starting a nonprofit from scratch, what would be your first move?In the latest episode of the Raimy and Bini Podcast, we walk through how we would each approach starting a brand new organization. (Bini even put together a chat-gpt-fueled advisory committee that guided him throughout the process.)We talk about the pros and cons (well, mostly cons) of starting a nonprofit and the different ways to think about the business side of things.We ask questions like:Should you focus on service provision first, or lock down your financials?How do you analyze similar organizations in your space?Is competition a threat or an advantage?What metrics actually tell you if you're succeeding?What are the fundamental differences between starting a nonprofit vs. a for-profit business?What type of person (and with what background) is best suited to start a new organization?This episode covers a lot of ground—perfect for newcomers and grizzled veterans alike.--------------------Good of the Week:Raimy: His Accountant! (Yes, you read that right!!!)Bini: Dana Snyder and the Monthly Giving SummitFind Dana here: https://positiveequation.com/----------------------------Chapters:00:00 Introduction and Feedback on Previous Episodes02:33 The Importance of Guest Contributions05:15 Gratitude and Positive Experiences08:12 Monthly Giving Summit Insights10:58 Starting a Nonprofit: Challenges and Considerations13:43 Identifying Needs and Competition in Nonprofits16:30 Understanding the Nonprofit Landscape19:21 The Complexity of Nonprofit Funding21:47 Differentiating Between Service Recipients and Donors24:31 Exploring Alternatives to Starting a Nonprofit27:28 Social Enterprises vs. Nonprofits28:56 The Purpose of Nonprofits: Results Over Existence33:13 Generational Shifts in Nonprofit Leadership38:09 Funding Fundamentals: Identifying Financial Support44:17 Metrics and Impact: Measuring Success48:33 Building a Supportive Board: The Importance of Community52:08 Fiscal Sponsorship: A Pathway to Nonprofit Launch55:54 First Steps: Crafting a 90-Day Plan for Success