Are you a nonprofit leader concerned about the impact of rising levels of inflation on your organization? In this episode, we will share 7 quick tips to help you prepare for and manage the effects of inflation.
First, it's important to understand what inflation is and how it can affect your organization. Inflation is a general increase in prices and fall in the purchasing value of money. It can occur when the supply of money increases faster than the demand for goods and services, leading to a decrease in the value of money.
Listen to this episode and we will provide you with 7 quick and actionable items you can use to prepare for rising levels of inflation in less than 10 minutes!
Timestamps:
00:00 - Introduction
01:50 - Podcast Starts
02:00 - #1 - Talk to your leadership team
02:35 - #2 - Educate your staff
03:04 - #3 - Scrutinize your expenses to eliminate waste
04:10 - #4 - Consider a budget adjustment
05:20 - #5 - Start to track your funding sources
05:58 - #6 - Explore an earlier launch of a fundraising campaign
06:35 - #7 - If you have earned income, raise your prices
07:22 - Conclusion
08:15 - Honor your mission
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