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Hi! Thank you for joining, my name is Laurent Sevigny and Im the CEO and co-founder of QRius Pay and Lead Strategist at QRius Consulting. In this video were going to explore why nonprofits need to rethink the business plan. Were going to look at four common mistakes nonprofits make when creating business plans, and what you can do to avoid them. If youve been in the nonprofit world long enough, youve likely heard or read about somebody saying that nonprofits should be run like a business, and sure, generally, thats a good philosophy to have. A business isnt viable if its expenses always exceed its revenue, and the same logic applies to nonprofits as well. Your revenue streams, like fundraising, should cover your operational expenses. Theres also a lot nonprofits can learn from tried and proven management practices from the for-profit sector. However, there are limitations to this thinking. Non-profits are not businesses, and they require their own
