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Hi! Thank you for joining, my name is Laurent Sevigny and I'm the CEO and co-founder of QRius Pay and Lead Strategist at QRius Consulting. In this video we're going to explore why nonprofits need to rethink the business plan. We're going to look at four common mistakes nonprofits make when creating business plans, and what you can do to avoid them. If you've been in the nonprofit world long enough, you've likely heard or read about somebody saying that nonprofits should be "run like a business", and sure, generally, that's a good philosophy to have. A business isn't 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. There's 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 ow...
