Brace for Impact: 7 Ways to Protect Your Nonprofit During a Recession

Every news outlet is talking about it, a recession. However, not many are talking about what a nonprofit leader can do to prepare their organizations. In this episode, Michael shares his 7 actions nonprofit leaders can take to prepare their organizations for a recession.

 

Timestamps:

00:45 - Introduction

01:00 - Michael’s 7 tips for nonprofit leaders to prepare for a recession

02:15 - Plan and Prepare

04:05 - Be open with your stakeholders

04:55 - Align expenses with new revenue projections

06:25 - Prepare for staff reductions

08:45 - Review and update your budget

09:53 - Diversity revenue streams

10:30 - Build relationships with community partners

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