Tag: #ATlanta Business Coach

6 Places to Get Your Voice Heard

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Have you ever attended a keynote and been moved? Watched a Ted Talk over and over? Liked and shared a social media post that was powerful?

You have a voice, too, and you can be empowered to share it with others. All of us have the power to be influential, whether in the digital world or the real one.

Here are 6 places to get your voice heard and spark change.

1. Your Blog

Blogs may have started with moms sharing their experiences, but they’ve become a vital part of business. In fact, many people make money sharing their expertise on their own blog and industry, such as travel.

If you have a blog, start sharing your thoughts and ideas. If you don’t, get started! This is a great way to get your voice heard and establish yourself as an authority. It may take time, but it’s worth the payoff.

2. Email

Despite the rise of other types of marketing, email is still an effective way to share content with an audience and capture their attention. You can begin with a newsletter that comes out once a month, or a few times a month, to build your audience.

3. YouTube

Video is a persuasive medium that many have leveraged for success. Whatever your business venture or cause, just about anyone can create professional videos or promos to share on YouTube. The cleverer and more creative the idea, the more traction you’re likely to receive, but don’t be afraid to just jump into it.

4. Social Media

Social media is incredibly powerful. From politicians to brands to influencers, just about everyone is using social media to connect with others and share ideas and opinions, and you can do the same.

Major platforms like Twitter, Facebook, and Instagram are excellent places to start, but you could also share your expertise on platforms like Quora and Reddit. People often use these platforms to ask questions or seek discussions within certain industries or topics, and that’s your time to shine.

5. Publications

Most publications accept pitches from writers to feature in their upcoming issues. With the rise of digital publications, you have more opportunity than ever before to get a feature article with the right pitch and audience.

Pitching takes time, however. You may not get published at the first try, or the second, or even the 10th, but keep going! Eventually, you’ll find the right fit for your article. And even if you’re rejected once, don’t be afraid to pitch again in the future! Maybe your article is a good fit, but not for right now.

6. Local Venues

Similar to pitching publications, you may be able to book local speaking engagements at small venues. Like publications, venues typically have a long lead time and specific guidelines and requirements for speakers.

You may need to approach a dozen different venues before you get booked, but that’s just part of the process. Don’t get discouraged! Keep trying.

Get Professional Coaching

Learning how to channel and share your voice isn’t easy, but you have plenty of outlets to be heard. The most important thing is having the confidence in yourself, and coaching from an expert like Allison Todd can help! Work with Allison Todd directly!

Should You Quit Your 9-5 to Work on Your Business Full Time? Here’s How to Know When It’s Time to Make the Move

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Hustling at your 9-5 job while trying to get your business up and running is no easy task. At first, you may be so excited that you don’t notice the toll it’s taking on you. But over time, the long hours and stress will build, and as the months or years go by, you may feel like something has to give.

Holding onto both your full-time job and your business is a great strategy to ensure that you’re financially protected while you wait for the business to become profitable. That’s meant to be a short-term strategy, however, not a sustainable option in the long term.

Eventually, you will need to choose between your full-time job and your business. Knowing when is key to both your security and the security of your business.

When to Quit Your Job

We’ve all heard stories of entrepreneurs who quit their job one day and their business took off, making them practical overnight millionaires. Though it happens, that’s extremely rare. The more likely course is quitting too soon and ending up with no cash flow, or waiting too long and burning out.

Here are the signs you should quit your job:

You Have Good Income

There are suggestions for how much you should make or what percentage of your full-time salary before you can quit your 9-5. This guideline is helpful, but it’s not ideal for every situation.

If you’re making more money than you need to at this point with your full-time job. If that’s the case, you don’t need to wait until you’re making a certain percentage of it. Maybe half is enough for you to live comfortably for a while.

Consider how much your business really needs to bring in for you to feel comfortable. Are you willing to sacrifice anything to make this decision more feasible, like a streaming entertainment subscription, happy hours with friends, or that Sunday football package? Are you willing to prepare more meals at home, even if you’ve had a long and tiring day?

The answer and decision are yours and yours alone. No matter how much you make or think you can live on, it’s important to plan it out to make sure there are no surprises.

You Have Savings

If you have a robust savings account and emergency fund from your full-time job, you may have enough to be confident in quitting to pursue your business full-time.

Remember, some businesses and industries take longer to launch, have greater startup costs, or have a longer period before they become profitable. It doesn’t mean they’ll fail, but simply that you may need to wait longer before they generate a return.

If your savings account isn’t quite there yet, think about how much more you want to have before you’ll feel comfortable quitting. Then, consider whether you could put a bit more away each pay to reach that goal.

You Have a Plan

Going full-time with your business and leaving a stable 9-5 can seem exciting, but you still have responsibilities. Make a plan and establish your budgets before you make any rash decisions.

Though it may not be as fun as some dramatic exit from your job, having a plan in place ensures security and sustainability. Your story may not prompt anyone to make a movie about your dramatic path to success, either, but you’re more likely to succeed in a way that counts.

Are You Ready?

Quitting and going full-time with your business is a huge leap. Fortunately, with some planning and financial security, you can make your dream a reality in the smartest and most practical way possible.

Looking to get your business from startup to successful? Work with Allison directly!

Should You Hire Your Family? Let’s Settle the Debate

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Hiring family. Some people swear by it, and build entire businesses upon it. For others, it’s an absolute no-no and a fast-track to drama and problems.

Whether your business is a startup or a large organization, there’s no doubt that the possibility of hiring family members will come up at some point. So, should you hire your family? The answer isn’t quite so simple.

Advantages and Disadvantages of Hiring Family

There can be many advantages to hiring family members. They’re less risky than strangers since you know them, and if you have a good relationship, it can make the day-to-day more fun and interesting. Family members are also more likely to be invested in your business’s success.

Hiring family comes with significant disadvantages as well, however. Family members can expect special allowances or privileges that a regular employee wouldn’t, and they may treat you the same in the workplace as they do at home. If you’re the boss, that could be a problem.

In addition, some people won’t work with family because issues at work could spill over at home, and vice versa, and may permanently impact the relationship. For example, think of how your next holiday gathering may go if you had to fire your nephew or aunt.

 

Is Family a Good Fit for Your Business?

As mentioned, there are a lot of advantages to hiring family. If you have family members who are a good fit for your company culture and genuinely good workers, hiring them may be the best thing you could do for your business.

Be sure to consider all the factors you’d consider with a regular candidate, however, such as qualifications, values, experience, stability, and skills. This isn’t a favor or an impulse – it’s a fit for both parties.

If you believe your family member is a good fit, that can be a huge asset for your business. Don’t just hire family to do someone a favor, or just for the sake of making it a “family business.” Someone not invested in the position or well suited for it won’t serve your business in the long run.

Another thing to consider is the potential impact hiring family can have on other employees. It’s vital that you treat family like any other employee to avoid any conflict. You may want to have a nepotism policy in place to protect you and your family member from any issues of favoritism.

 

Tips for Working with Family

If you do decide to bring family members into your business, you can keep the working and personal relationships strong and separated. Here are some tips:

 

Keep it professional.

  • No matter how close you may be out of work, address each other professionally in the workplace.

 

Show respect.

  • Family members should always show respect appropriate for their position at the company, even if the dynamic is different in the family. For example, your uncle may be a perceived authority figure in normal life, but if you’re his boss at work, he should treat you like a boss.

 

Keep work at work.

  • One of the biggest challenges is keeping professional and personal lives separate when you work with family. Vow to keep work at work and home at home, so you can maintain your previous relationship dynamic outside of the office.

 

Looking for Business Support?

Navigating the ins and outs of business can be challenging. Whether you need help with hiring, growing and scaling, or other aspects of your business, a professional coach can help. Work with Allison Todd directly and set your business up for success! 

Is Work-Life Balance Actually Possible When You Own a Business?

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Starting a business brings a lot of responsibilities and tasks that can quickly eat up your time. If you’re starting a business while also balancing home and family time, or a full-time job, it may seem impossible to get any true work-life balance.

Is it possible? Can you achieve work-life balance while owning and running a business?

Yes! It takes some changes to how you approach work, but you can make it happen! Here’s how.

Reflect on the Big Picture

If you’re struggling with your work-life balance, or lack thereof, the first step is to give yourself some distance and reflect on the big picture.

For many business owners, this reflection only happens when something significant happens, such as a death or the birth of a child, but it doesn’t have to take such a big upheaval.

Consider your sources of stress or dissatisfaction. How are the circumstances affecting your performance? Your happiness with your work or personal life? How are your priorities? What are you giving up pursuing your business goals?

Once you have a clear picture, you can take concrete steps to change them.

Delegate Wherever Possible

Small business owners are go-getters, which is great for getting a business off the ground, but not so great for taking on way too much. For many, the idea that “if I want something done right, I have to do it myself” can quickly take over.

Delegating can free up a lot of time, provided you can relinquish some control. Remember, it’s a choice to continue doing tasks that could be outsourced or delegated to someone else. This not only impacts your work-life balance, but as your business grows, it will pull you away from mission-critical tasks.

Take More Time Off

I know, easier said than done. But taking the appropriate time off is essential to keeping your wellbeing and work-life balance intact. Otherwise, you can quickly find yourself working every day and losing a sense of satisfaction with your life.

One helpful way to ensure you get the time you need is with a four-day workweek. With this approach, you can still be productive and make money with just four days, and you’ll be able to devote more time to personal responsibilities and leisure.

Set Rigid Hours

One of the ways business owners can get too caught up in their business is by keeping a flexible schedule. For traditional employees, they typically have set shifts, so they can manage their personal time.

When you own a business, it’s too easy to work 10, 12, or 14 hours without realizing how much time you’re really putting into it. You try to get “just one more thing” done in the day, and before you know it, you’ve worked far beyond a normal workday.

Start by setting a clear time that you begin and end your workday, even if you’re working from home. Remember, more time isn’t necessarily more productive time, and you’d be better served by sticking to a set schedule and forcing yourself to manage your time effectively.

Find Your Work-Life Balance

No one said running a business was easy. In fact, business owners typically work more and longer days than a comparable employee, but it doesn’t have to be that way. With some tweaks, you can find your work-life balance and still run a successful and profitable business.

Are you looking for some guidance with your business from a professional coach? Work with Allison Todd directly and see how you can reach your business goals!

Contractors vs. Full-Time: The Small Business Guide

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One of the most effective ways to scale your business is to grow your team. But that can be a difficult undertaking with several considerations before you even start taking applications or interviewing contractors. 

The Difference

A freelance contractor works for you independently and covers taxes on their own. An employee is an in-house team member that answers to you. You’re responsible for reporting their earnings to the IRS. 

You hire a contractor as a 1099 employee after the terms and scope of services provided are agreed upon, as well as the cost. In this role, you will not have control over their process, pricing, or working hours, unless these were stipulated in the agreement. 

This category would include:

  • – Freelancers
  • – Consultants
  • – Temp-to-hire
  • – Agencies

 

A W2 employee is usually a long-term arrangement where you provide consistent direction and supervision. You dictate their hours, their job expectations, and pay. For a W2 employee, you may also have to offer other benefits or insurance.

There is also no competition for their time. A contractor will have other clients and projects in the works that require their attention, whereas an employee is someone you don’t have to share. 

The Cost

Independent contractors typically get paid with a flat fee for any services rendered or deliverables provided. This is usually determined in contract negotiations prior to any work taking place. 

With a contractor, you’re paying for their talent and expertise. While you’re in control of your overall project, they will play a more collaborative role, like a consultant. As a business owner in their own right, consider them a partner in your business, not an underling.

For a W2 employee, you can pay an hourly wage or salary that fits within your budget. Talent that is interested in that pay scale will apply and may or may not negotiate pay. Keep in mind that when you hire a W2 employee, you will also have to cover any benefits, 401K, as well as cover tax payments.

Contractors will typically cost you more upfront with deposits and initial fees, whereas employees will require very little upfront but could cost you more over time. 

The Bottom Line

What do you want most out of this new team member? Do you want total control over their schedule? Are you looking for someone you can train up who will buy into your company culture and mission? 

Do you want exclusive access to their attention and talents? Are you hoping this person can wear multiple hats to take even more tasks off your plate? If you can afford all of the incidentals that come with an in-house employee, this may be the best path.

Or are you more interested in saving on hiring costs and benefits? Do you need more flexibility with short-term contracts? Is your need more immediate, and you don’t have time to train someone? 

If you’re not sure what you need or who to bring on, let’s chat! Helping entrepreneurs scale their businesses is my sweet spot! Book a consultation!

6 Things You Absolutely Need to Have in Your Contracts

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Contracts are legal agreements between two or more parties. But just because something is called a contract doesn’t mean it’s legally binding, nor does it mean that all parties involved are equally protected.

All contracts must have several essential elements to be enforced in court. Contracts may be missing a few elements and still be legally enforceable, but you’ll still want them in there to be safe.

Here are 6 things you absolutely need to have in your contracts.

1. Capacity

Contractual capacity is an individual’s ability to enter into an enforceable contract. Just because someone can sign a document doesn’t make it legal.

There are a few classes of people who may not be considered legally capable of entering a contract, including minors, people with mental disabilities, and intoxicated people.

If a person without contractual capacity enters an agreement, it becomes voidable, meaning that that party can end the contract at any time.

2. The Offer

The offer is the statement of terms and conditions to which the person making the offer is bound. This clearly expresses the willingness to abide by the terms of the contract, which are binding as soon as the other party accepts.

For example, if you have a dog-walking business, your offer would include a promise to walk someone’s dog in exchange for compensation from the owner, the offeree.

3. Acceptance

The acceptance of an offer expresses the willingness to abide by the terms and conditions of the contract.

Three things must occur for an acceptance to be valid:

  • – The offeree knows the offer
  • – The offeree has intent to accept the offer
  • – The acceptance is expressed as an agreement to the conditions of the offer

4. Legality

The contract’s legality refers to whether the terms and conditions are consistent with the law. If the subject of the agreement isn’t legal, the contract won’t be valid.

For example, you can enter into a contract to pay someone for a legal service, but not to perform illegal services or sell illegal goods. No matter the contents of the contract, it won’t be valid and enforceable in court if the subject itself is not legal.

5. Consideration

Both parties entering into a contract must offer something of value that makes the other want to agree to it. This could be money, goods, the completion of an action, or the act of refraining from an action.

If there’s no exchange of money, the parties should ensure that the court would see the trade as valuable.

6. Mutuality

Also known as the meeting of the minds, mutuality states that both parties must be bound to perform the obligations stated in the contract. If that doesn’t happen, the law will rule that neither party is legally bound to the contract. Both parties need to be bound to the contract, or neither is bound to the contract.

Ready to Sign on the Dotted Line?

Legally binding contracts are complicated. Before you make an agreement, make sure your contract covers the 6 key elements of a contract.

Need more guidance with your business contracts from an experienced business coach? Work with Allison Todd directly! 

Break the Cycle of Toxic Productivity with Self-Love 

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With our always-on, always-available, fake-it-til-you-make-it hustle culture, there’s glory in being the workaholic, the go-getter, the workhorse.

We’ve normalized hustle culture, made it so that if you’re not always rushing, busy, and stressed, you’re not trying hard enough. Always go the extra mile.

Answer an email late in the evening? Sure! Put in extra hours on the weekend? No worries, you didn’t have plans anyway.

That’s not glory. That’s a fast-track to burnout and toxic productivity.

Being stressed and overworked is a toxic mindset skewed positive to keep you pushing harder and harder. But once you recognize it, you can prioritize self-love and break the toxic cycle.

What Is Toxic Productivity?

In recent years, our culture has been about the hustle and the grind. The “first-in, last-out” type is the one who gets the promotion.

The shift to hybrid and remote work only worsened this mindset. The boundaries between our work lives and our personal lives blurred more and more. Our phones and laptops are always on, we’re always available – and expected to be.

It’s difficult to turn the notifications off, especially with no physical separation between work and home. Our home office, couch, recliner, or even our beds may have become the new workspace, so of course we can’t just turn our work minds off.  

With no rest, no downtime, and no boundaries, we can’t enjoy our free time or focus on self-care and self-reflection. We may prioritize a project over date night, our child’s sports game or recital, or our own sleep.

Productivity is important, for sure, but it can be detrimental if it consumes our lives. If we think work is more important than anything else, to the point that we can’t relax and enjoy our families, hobbies, or time relaxing on our own, that’s when productivity builds to burnout.

Balance, rest, and self-love are vital to true productivity. If you’re running on fumes or struggling with concentration and focus, are you truly productive? Is the work you’re doing the best quality it can be?

Probably not. You can’t pour from an empty cup.

My Struggle with Toxic Productivity

“Love what you do, and you’ll never work a day in your life.”

We’ve all heard some variation on this quote, implying that if you’re passionate about what you do, it’ll never feel like work. You can’t get overworked, stressed, or burned out doing what you love, right? Wrong!

I was nearly claimed by my own toxic productivity. I worked all the time. It was easier to be productive.

Then COVID-19 hit. The lockdowns, stillness, and the claustrophobia of the pandemic made me feel like I had to move faster, produce twice as much, and push toward my ultimate goal.

I was buried in toxic productivity without realizing it – only to be buried by the bad news avalanche.

It was time to reconnect and recharge, focus a little on me. Time for a reset.

How to Overcome Toxic Productivity

The most important tool for overcoming toxic productivity is knowing how to recognize it.

Are you always focused on work – always checking email, even during time with your family or friends?

Are you checking or answering communications during off-hours, such as nights and weekends?

Are you measuring your self-worth through your work? Is excelling at your job or career the most important thing to you?

Are you missing out on quality time with your family, friends, pets, or hobbies in order to work?

Are you using work as a way to escape difficult life situations, such as a significant death or conflict with your partner?

If you answered “yes” to any of these, you may be struggling with toxic productivity.

Fortunately, you can break the cycle of overworking.

Take an Extended Recess from Work Responsibilities

If you’ve been going and going, it’s time to take a break. Taking time away from work responsibilities to focus on fun and passions is important at any time, but it’s even more important after the tumult of the past two years.

We experienced a collective trauma together during the COVID-19 pandemic. It’s time to take a moment to breathe, reflect, and shift the focus back to yourself for a bit.

Spend time recharging and reconnecting. Feed your soul, reflect, and reset. Rediscover a lost hobby, or take up a new one.

Go for a walk or a drive with no destination in mind. Lie in the grass and watch the clouds. Do the least productive things you can think of to give your mind and body a rest.

However you choose to spend your time, it’s important that it’s about what you want, not the professional you, but the personal you – the multifaceted you. Close your laptop, turn off your phone, and just enjoy.

Over time, you’ll get used to unplugging and enjoy some much-needed time for yourself.

Prioritize Work-Life Balance

Even if you work from home, you need clear boundaries between work time and private time. You can set a work schedule for yourself, much like office hours, or designate time slots when you can be productive that work around your family’s schedule.

Whichever you choose, it’s important to stick to your schedule. Adjust as needed but be disciplined in your work time and your personal time.

During your personal time, do the things you enjoy. Practice your hobby, spend time with family, cook yourself a meal, watch your favorite television show, meditate, or do whatever makes you happy. When you return to work, you’ll be refreshed and ready to go.

Create a Self-Love Box

We all need reminders to develop healthy habits, and the self-love box is just that. Having a self-love box on hand can reinforce the message and give you tools to prioritize you.

Drawing from my experience as a confidence and business coach, I put together a self-love box that has all the tools and resources you need to love you greater! I’m always telling clients to create flashcards for their niche, and now I’ve taken that idea 10 steps further to build the ultimate toolkit to end your toxic productivity.

End the Toxic Cycle with Self-Love

Toxic productivity can sneak up on you, but when you know what to look for, you can promote better work-life balance and unplug to unleash your true productivity.

Are you struggling with your career or business? Let’s chat! Schedule a discovery call with me!

3 Things to Automate in Your Business Right Now

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Those menial, tedious tasks you hate doing every day? Automate. The technology to make your life so much easier is out there! You will boost your productivity and relieve yourself from the pressure of all the “to-dos” that you don’t really have to do. 

Let’s review my top 3 things you should automate in your business right now!

#1 Client Onboarding

Different from welcome emails, this is your internal process. It’s something you can create and set up once but use again and again. 

Using a productivity management system to send contracts, welcome packets, questionnaires, and client portal information automatically saves you time and puts the client at ease that you have it all together! It also ensures that everything is accomplished as quickly as possible, and nothing is ever missed. 

My Favorite Productivity Management Systems:

  • – Monday.com
  • – Airtable
  • – Asana
  • – Trello
  • – Zapier 

#2 Welcome Emails 

Did you know welcome emails usually have the highest open rates? These emails are your first access to direct contact with a potential client and are extremely valuable. Use them to engage with the lead and ask how they liked your resource. 

Using your CRM or email management system, set up welcome emails to fire off after a new contact is received and drip out over the following days and weeks. This keeps you at the top of their inbox while your name is fresh on their mind.

Leverage these notes to further establish who you are, what you do, and why they should care by providing practical, tangible value in their inbox. Slowly introduce other ways to connect with you and your higher-ticket offers. 

#3 Social Media Content

Automating content production can reduce the pressure on you or your team to be creative every day at the optimal posting time. While the content still has to be physically created or curated, there are tools and software platforms that help you automate the process. 

You can batch create your social media text and graphics using the free tool, Canva. If you run out of ideas, scroll through the feed of your ideal client or competitors and see what they’re engaged with. Use this to fuel your creation! 

Pre-made content calendars are also a dime a dozen, but apps like PostDeck also offer daily prompts and conversation starters to essentially generate content for you. 

When you’re ready to publish, upload your content to a platform like Sprout Social, Buffer, or Later. These services help you schedule content out for the week or even the month so you can “set it and forget it” and focus on engagement. 

Consider implementing Facebook’s “out of office” auto-responder for after-hours to connect with anyone who may reach out. Or, set up a chatbot to keep the conversation going and assist potential leads. 

Work Smarter, Not Harder!

Automation can be tech-heavy upfront, but the payoff is literally buying you more time! If you’re overwhelmed by manual processes and need support and encouragement to confidently make good business decisions, let’s talk! Book a consultation with me!

5 Ways Business Women Can Avoid Burnout

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As busy businesswoman, it’s hard for us to take a step back and put ourselves first. IT’s especially difficult when also faced with other demands on your time, such as children and family. 

Burnout is often hard to pinpoint or acknowledge. In a post-pandemic world, many of you may be running on autopilot because your cup is empty and dry. This leads to unaddressed trauma, unresolved emotions, and burnout that leaks into other areas of our lives.

Here are my top tips for avoiding burnout in your business and in your life. 

#1 Regularly Take A Well-Deserved Break

This one shouldn’t be surprising, but I know firsthand that when you have a jam-packed schedule, it feels impossible. Friend, you have to schedule time off intentionally. You have to choose yourself.

Block out time for a break on your calendar as if it were an incredibly important meeting that you cannot miss. This time should be at least 30 minutes to an hour every week or bi-weekly if that’s not possible. 

Sit outside and meditate in the fresh air, lay down and listen to an audiobook to rest your eyes, or go for a walk. Choose any relaxing or leisurely activity you enjoy. 

#2 Delegate

In order to preserve as much energy as possible, it’s essential to delegate tasks you don’t have to do yourself. This is the best use of your time and skills. 

Determine the tasks you’re weak in or that you simply don’t enjoy. What are the time-consuming little things that drive you crazy every week? What projects never quite turn out how you like, and you wish they were better? 

Assign these to your team or a virtual assistant who can ease the burden on your time and your energy. 

#3 Say No With Conviction

Burnout often shows up when you’re trying too hard to multitask on too many projects and are overwhelmed. Even the top performers in your industry, or any industry, must prioritize their time and manage projects efficiently. 

When new projects spring up, it’s ok to say no if it will help you avoid burnout. This is true for any stage of your career. Whether you work for someone else or own your own company, you need to focus on what matters. 

#4 Learn To Unplug

Unfortunately, most working women still perform as if we have something to prove. We take on projects that drag into the night and eat up our weekends. We miss out on things we value to “stay on top.”

Greater productivity is unlocked while you work only when you completely unplug when you’re not. Turn off your notifications and delete apps from your phone if you have to. Resist the urge to “check-in” after hours. 

#5 Get Compassionate Support and Accountability

I help businesswomen like you everyday to grow through burnout without sacrificing their careers or business. It’s my job! I love it, and I’m not ashamed to say I excel at it. If you’d like to take advantage of compassionate support and avoid burnout, let’s chat! Schedule with me here!

Mitigating the Impact of Inflation on Fundraising

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Everyone is seeing the impact of inflation, from a trip to the grocery store to monthly utility bills. In the past year, inflation amounted to 7.9% — the fastest pace since 1982 – according to the Bureau of Labor Statistics.  

Inflation isn’t likely to resolve anytime soon, especially with the increasing energy costs due to Russia’s invasion of Ukraine.

This is especially troubling for nonprofits. Many charitable organizations receive a significant amount of funding at the fiscal year’s end – June 30 – and the budget implications are only just now obvious.

Nonprofit leaders need to navigate uncertainty and position the valuable work as critical, regardless of what economic indicators show.

What Is Inflation?

The simple definition of inflation is that it’s a sustained upward movement in the price of goods and services in an economy. If all else stays constant, this reflects a loss of purchasing power for a currency. It takes more currency units to buy the same goods and services.

Simply put, your money doesn’t go as far. You can’t buy as many groceries or essentials for the same amount as you did previously.

Many consumers associate inflation with the rise of a few key goods or services, such as oil or the real estate industry. but inflation is only present when the overall price of goods and services is increasing across the board.

When inflation increases faster than wages, it leads to a decrease in purchasing power that causes people to put up more money to buy necessities, but getting less for it. For the average consumer, this can create financial strain and reduced discretionary spending.

The problem here is that many people don’t understand what inflation really is. They believe the prices are increasing, when that’s not what’s happening. The value of each dollar is declining.

Why the distinction? If people believe that it’s prices, not dollars, donors may unknowingly reduce the value of their donations because they don’t regard inflation as the reduced value of money.

They’re not deliberately giving less – they’re accidentally giving less because they’re failing to recognize the diminished purchasing power of their donations.

Even if inflation were to return to its previous levels, it would take time before we see the effects of that. With the end of the year approaching quickly, fundraisers need to take a proactive approach to combat the effects.

Plan Ahead in Thinking, Giving, and Strategy

Donors want to make a difference – that’s why they donate. They’re not trying to decrease their gift, but they just don’t appreciate that it doesn’t have the same purchasing power.

We can’t expect them to know this on their own, however. They can be politely reminded that inflation affects nonprofits, too, and the cost of staffing, supplies, services, and more. It also impacts the lives nonprofits serve – if it’s this difficult for the people who can pay, imagine what it does for those who can’t?

Bottom line – we need more money to make the same impact. We need to ensure donors understand the need for the work and how the dynamics of the world impact it. Donors want to hear stories about those served by their donations, and how, so highlight some of your top stories.

If possible, show metrics of how donations allow impact. Whether the nonprofit is focused on food security, education, literacy, clean water, or support for families, showing the metrics ensures that donors know the impact of their investment – and why it matters if money doesn’t go as far.

How Can We Help?

External pressures like inflation can be a big catalyst for creativity and collaboration. How can we, as community leaders, partners, and corporations, plan ahead and be proactive in our efforts?

The simple solution is to increase the gift to account for inflation and ensure that nonprofits have equivalent purchasing power. But writing a check isn’t the only thing we can do.

Inflation not only decreases what can be done with the donations, but increases the costs for the nonprofits. Volunteering helps nonprofits do more with less, reducing the burden and ensuring that help goes where it’s needed.

Finally, there’s advocacy. You can spread the word about the efforts of nonprofits and encourage others to get involved. Whether they offer monetary gifts, volunteer their time, or spread the word themselves, it all makes a difference. 

Let’s Talk About It!

I’ve had wonderful conversations with innovative leaders ready to grow their community and “put their back in it.” I’d love to talk to other leaders and business owners who feel the same. Schedule a 15-Minute Discovery with me and let’s get started!