Enhancing Your Revenue Stream
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The document discusses ways to enhance revenue streams for organizations by evaluating diverse sources such as fundraising, sponsorships, and partnerships. It emphasizes the importance of understanding core competencies, stakeholder networks, and developing a strong value proposition to attract revenue. Additionally, it highlights the need for a business plan to navigate legal and financial implications associated with new revenue methods.
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Enhancing Your Revenue Stream
- 1. Enhancing Your Revenue Stream Institute for Organization Management Victoria G. Axelrod Principal Axelrod Becker Consulting www.axelrodbecker.com 7/31/06
- 2. Learning Objectives Evaluate Various Avenues to Bring Revenue into the Organization Examine New Sources of Revenue: Fund-Raise, Sponsor, Partner, Collaborate Earned Income Address Financial and Legal Implications with different Revenue Streams
- 4. Business Strategy Who are you? Who is in Your Network? Who is on your board? Who are your constituents? Stakeholder Network? Where are you going – Strategic Intent Time frame, Milestones, Outcomes Core Competencies – what are you good at Resources
- 5. Business Strategy 4 “Cs” Context Customers Constraints Competencies
- 6. What are Your Core Competencies? End Products/Services Core Products/Services Core Competencies Earned Income opportunities can be found on any of these three levels.
- 7. Value Proposition Clear statement of what the customer receives. Strong value propositions deliver tangible results like: Increased revenues Faster time to market Decreased costs Improved operational efficiency Increased market share Decreased employee turnover Improved customer retention levels
- 8. Value Proposition 2.0 Co-creation with customers – Think: Amazon eBay Lego iTunes Procter & Gamble “prosumers” – producer and consumer
- 9. What Can You Create with Your Network? The network creates the content You provide the infra-structure Monetize the experience: - License - Fee for Service - Franchise - Sponsor - Partner - Foundation Funder
- 10. Current Revenue Stream Is this the Right Mix for Your Strategy?
- 11. Why Should I Partner with You? Criteria from Both Parties - Brand development - Value Added Services/Special Products - Market Industry Niche - Customer or Constituent Base - Financial Gain Evaluation of Success Separation Clause
- 12. Business Plan A business plan - detailed road map you need to have for each venture. Plan categories help you quickly determine go or no go.
- 13. Legal & Financial Options Establish for-profit entity Remain as nonprofit
- 14. References and Resources Jody Blazek Unrelated Business Income: A Primer , National Center for Nonprofit Boards, July/Aug 1999. Alan R. Andreasen "Profits for Nonprofits: Find a Corporate Partner," Harvard Business Review , Volume 24, #6, pp. 47, Nov-Dec 1996 Brad Caftel "Business ventures for nonprofits: finding the right legal structure," Grantsmanship Center Magazine , Winter 1997. Reviews the pros and cons of creating a separate for-profit subsidiary when a nonprofit starts a business venture. Community Wealth Ventures, Inc., and Powell Goldstein Frazer & Murphy LLP. Legal and Tax Structures: An Introduction for Entrepreneurial Nonprofit Organizations , Washington, DC, 2002. www.ventures.yale.edu
- 16. References and Resources Securing Your Organization's Future: A Complete Guide to Fundraising Strategies (Paperback) by Michael Seltzer The Future of Competition: Co-Creating Unique Value with Customers (Hardcover) by C. K. Prahalad , Venkat Ramaswamy The Hidden Power of Social Networks: Understanding How Work Really Gets Done in Organizations (Hardcover) by Robert L. Cross , Andrew Parker , Rob Cross Alliance Advantage: The Art of Creating Value Through Partnering (Hardcover) by Yves L. Doz , Gary Hamel
- 17. Summary Evaluate Various Avenues to Bring Revenue into the Organization Examine New Sources of Revenue: Fund-Raise, Sponsor, Partner, Collaborate Earned Income Address Financial and Legal Implications with different Revenue Streams
- 18. Thank You! Contact [email_address] 212-369-2885
Editor's Notes
- #2: Welcome every one. Introduce self. This is a group of all chambers of commerce folks. Ask them to give a brief intro to what their position in the chamber is and its size by staff and revenue. This is important for discussion of various revenue options and who you can network with for ideas. Note on flipchart.