If you are already established in business, and are thinking of taking your expertise into greater things, then it can be a great way to boost your portfolio and expertise. But if you consider something that would be a pretty significant career transition, such as moving from business for profit, to then philanthropy and nonprofit work, you will want to have a clear idea of what you are getting yourself into. Otherwise, it can all come as a bit of a surprise and a big adjustment as you go about your daily business.
Many business leaders choose to make the change to a nonprofit role, such as a philanthropist and businesswoman like Belinda Stronach. It can be a way to use their skills, leadership expertise, and experience, but hone them into other channels. For many who make this move, it can be daunting and even a little awkward at times, as they get to grips with their new role. And you might seem surprised by that fact. But in reality, the differences between the business world and the nonprofit world are quite different. So it shouldn’t come as a surprise that it takes some adjusting and getting used to.
So if this sounds like you, and you have things running in business as you’re used to, and want to take things to another level, then here are some things to consider before you leave the private sector.
From Making Money To Asking For It
When you’re working in business in the private sector, then one of the things that you can do is to throw money at a problem or even at a person if you want to keep them working for you, for example. But in the nonprofit world, this is something that is different. And in fact, it can be seen as a little shallow. You have to be way more resourceful, and be more of a steward of the resources that you do have, as money is a lot more limited.
Different Reward System
One of the reasons that you might have chosen nonprofit work is because you are a little less motivated by money than by the aim. A lot of your team might feel the same in fact, and that can dramatically change how the workplace works. You have people there because they want to be, not because of their financial reward. So as a result, you have to think about managing a team like that, and thinking about the reward systems and thinking about what works for them and what makes them tick.
Accountability and Results
In your business, there is some accountability and things like metrics that are built in and understood by the whole team. The thing in business will be making a profit, winning an account, and getting better sales or numbers than before. But the thing is, at most nonprofits, there are things like lives being changed, which are much harder things to record. And to get people to back you or give you funds, then you have to show off the proof that can be hard to show when it is a difficult metric.