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In this video, Laurent Sevigny, CEO and co-founder of QRius Pay, discusses the need for nonprofits to rethink their business plans. He identifies four common mistakes nonprofits make when creating these plans and offers guidance on how to avoid them. Sevigny emphasizes the importance of running nonprofits with a business mindset, noting that just like businesses, nonprofits must ensure their revenue streams cover operational expenses. While he acknowledges that nonprofits can benefit from management practices used in the for-profit sector, he also highlights the unique challenges nonprofits face, asserting that they are fundamentally different from traditional businesses.