Gold digger or superhero?
Sarah Brown looks at the income source mix and suggests a strategic approach to funding
The accepted wisdom for commercial businesses is you can either reduce your costs or sell more products / inventory to address financial shortfalls. For charities it is more complex. Even the language is difficult; generating more income tends to mean earned income and does it mean surplus? As well as the need to fulfil a mission that is not defined by money, there are at least 22 general channels used to attract money for charities, which can be grouped under four headings:
Author: Sarah Brown
Sarah Brown runs inspire2aspier, a strategic consultancy specialising in helping charities develop effective practical strategies and plans that will make them secure in the long term. She has senior experience in commercial new product development and marketing and has developed a range of tools.
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