Do you have the ‘right’ relationships as part of your accounting for nonprofits?
We’re not talking about knowing the ‘right’ people – the smart people, the rich donors, or those who can provide services to your nonprofit, although such relationships are, of course, important.
Instead, we’re talking about a wide circle of relationships that provides feedback, including contrary feedback, a rich resource of new ideas, and the ability to introduce you to people beyond the scope of your existing work.
The right relationships are those that broaden your horizons, expand your work, and help you reach into new areas to improve, build, and develop.
Let’s take a look at the concept of relationships and how the ‘right’ relationships build your nonprofit’s work.
The Current Echo Chamber
If you’re like the majority of people, your connections on social media tend to fall into three camps: business associates, family, and friends. It’s the rare person who reaches outside of their immediate circle and seeks to connect with others.
Unfortunately, such a narrow circle of connections leads to the ‘echo chamber’ effect. People we know in daily life tend to reflect similar values and ideas back to us rather than confront and challenge us.
When you browse through your connections, if everyone in your immediate circle is connected somehow, or you spend a great deal of time with them daily, then you aren’t reaching out to people from whom you can learn. You’ve fallen into the echo chamber – and it’s time to climb out!
The Value of New Connections
It’s natural for people to be drawn to others with similar likes, dislikes, and interests. That’s how we initially learned to make friends, and similar interests bring people together over hobbies, social gatherings, church functions, and other places to meet people.
The problem with connections who share so many interests is that you never leave your comfort zone. If everyone in your immediate circle of friends is connected, there’s no one new who can reach outside and connect you to new networks of people.
New connections can help you…
- Open doors: Looking to connect with a specific donor? Seeking to broaden the geographic area in which you currently work? People in your network may be able to introduce you to the right donors, help you find good places to spread your nonprofit’s work, and expand into new areas. When you move outside of your existing network, new opportunities may be just around the corner.
- Seek new perspectives: When you meet new people, their viewpoints may contradict yours, but if you’re open to discussion they can help you see and understand new perspectives. This may give rise to a new way of looking at a project or different way of viewing the world.
- Find new vendors: Connections are a great source of information to find new vendors, consultants, and partners for your nonprofit. They may also be a good resource to check references on vendors you are considering for work.
- Hire new people: Another great way that a wider, different circle of associates can help you is by sharing job openings with their network to help you find the perfect employees for open positions. Many positions are filled today via word of mouth rather than through classified ads. Finding someone through your network has the added advantage of a personal recommendation from an associate, too.
Relationships matter. Even in today’s increasingly internet-driven world, where we often Skype, tweet, and comment rather than sit down over a cup of coffee with someone, relationships broker trust, enhance your knowledge, and help you and others in this world. Build the ‘right’ relationships by seeking new people with whom to connect, share, and network.
Beck & Company: Accounting for Nonprofit Success
If you struggle with your accounting for nonprofits, Beck & Company can help. We are a CPA and business advisory firm dedicated to the nonprofit sector. Our many years of experience can help you update your financial compliance or handle all types of accounting for nonprofits. Please contact Beck & Company today for further details.