28 Aug

How a partnership with the private sector can boost your nonprofit’s profile

By The Axis Commercial Lines Team on

Axis_Blog_How-a-partnership-with-the-private-sector-can-boost-your-nonprofits-profile

“There is nothing in business today that provides as much economic and social benefit, on as many levels, to as many stakeholders, as a strategic partnership between any combination of the nonprofit, for-profit, education and government sectors when focused on the greater good. Nothing else comes even close.” Bruce Burtch

Many for-profit organizations are beginning to realize that there is a massive benefit to be gleaned from a partnership with a nonprofit. Not only could it result in increased marketing and sales efforts, it could also serve as a tool to attract and retain employees, increase brand loyalty, motivate employees, and attract new business partnerships.

They’re great for nonprofits as well. By joining forces with a corporate partner, nonprofits can tap into a source of funds, as well as organizational firepower, increase brand exposure, increase the range of services, save admin costs, and increase credibility.

But any partnership should be considered carefully and approached strategically. Here are a few things to check off your list before you formalize an agreement.

Make sure they're a good fit

Does the organization match your vision and mission? Do your organizations’ values align? Are you trying to reach a new demographic that this organization can access? Make sure you have a clear idea of why you’re partnering.

Make a plan, and write it down

Sketch out what you think your role in the partnership will be, and what the organizaton’s role will be. Include timelines, roles, and responsibilities. This will ensure clarity and accountability.

Keep the dialogue going

Hopefully you’ve clearly articulated and signed off of the details of a campaign. That’s a great start, but make sure you’re executing in tandem. Work with your counterparts and set up regular calls or meetings to keep everyone up to speed, and make sure everyone is working together.

Read more about nonprofit risk management.

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