Steadman & Associates Business Strategy, Inc. | 3020 Prosperity Church Road, #161 | Charlotte, NC 28269 | (980) 205-4814
What is the difference between nonprofit and for profit organizations?
"The difference between the words "surplus" and "profit." Without an adequate supply of money, nonprofits cannot readily survive funding lapses, unforeseen events, or service expansion. In today's nonprofit world, more than ever, there needs to be a clear understanding of the concept:
"NO VALUE, NO MONEY. NO MONEY, NO MISSION."
The ability of a business to fulfill its mission is directly related to value. While the mission may differ from for profits, in a competitive marketplace, the viability and sustainability of nonprofits depends on one thing; the creation and maintenance of value.
Unfortunately, this reality escapes many in the nonprofit community."
- Kenneth Steadman, Founder and CEO,
Steadman & Associates
Business Strategy, Inc.
"Why is the world's richest man, Warren Buffet, committing more than $30 billion of his personal fortune to the philanthropic foundation of the world's second richest man, Bill Gates?
The reason Buffet committed—nay, will invest—more than $30 billion to the Bill and Melinda Gates Foundation over the coming years is because the Gateses are not running a nonprofit charity.They're managing a transparent, evidence-based, philanthropic organization that understands the value of operating in a businesslike manner.
As a result, over the years the Gates Foundation has earned a solid brand reputation for achieving and reporting results, which Buffet respects, values—and wants his philanthropic legacy to be a part of! Yet this concept still eludes many nonprofits"
- Larry Checco,
the ability to see where you are and where you want to be.
Val-ue: [vall yoo]
the perceived difference between benefit received and cost expended
focusing your efforts on what you do best.
Com-pe-ti-tion: [kompe tish'n]
doing a better job at meeting your client's need than the