What is your dream when it comes to entrepreneurship? Is it to amass a certain amount of wealth by a certain age? Seeing your dream of owning your own business come to fruition? Is it to offer the public something so different and extraordinary that it could change the world? Whatever your reasoning is, we all have unique passions and motivators that make us choose this advantageous path.
For some, it’s creating and establishing something that gives back to their community or to a cause that is close to their heart. What I am referring to is nonprofit entrepreneurship. This is a unique realm to the world of entrepreneurship because when it comes to any nonprofit, big monetary goals are usually not as possible in comparison to running a corporation or business. This is because when a corporation makes extravagant profits, the owners and shareholders are the recipients of it. Whereas in comparison to a nonprofit cooperation, funds are placed back into the organization to give back to the betterment of the public or the cause it stands for.
The actual definition of a nonprofit is, “not making or conducted primarily to make a profit.” Many charities are considered nonprofits, where their sole purpose is to raise funds for a cause that is related to issues that are currently affecting our society. Nonprofit entrepreneurship is a business organization that serves some public purpose. Nonprofit corporations, contrary to their name, can make a profit but can’t be designed primarily for profit-making.
So why choose this route of entrepreneurship? What are the positives of running a company where funds aren’t always guaranteed if one is dependent on people believing in your cause? While some states may allow being exempt from employment taxes in being nonprofit, it’s more than just those aspects that make nonprofit entrepreneurship a great option for those interested in both opportunities. Let’s delve into some reasons why taking this route in entrepreneurship can be beneficial, not only for you but also for the overall greater good in the world.
Helps bring to light an issue we never knew existed
I cannot tell you how many times I have been surprised by the issues that are affecting our society. I have been amazed at the charities out there whose mission and sole focus is to help grow awareness, support those who are directly affected by tragedy, or help by directly solving the issue at hand.
Causes are also multi-faceted – such as cancer awareness, mental health, or various diseases. Just because there are many nonprofits out there that work to fight cancer, doesn’t mean you should think that yours is any less worthy. Your organization could help families whose loved ones are fighting cancer, or maybe you want to solely focus on combating a certain type of cancer. The opportunities are more endless and welcome in the nonprofit entrepreneurship realm.
Competition can be powerful when combined
Some of you may think that if people donate to one cause, then it’s one less donation towards yours. However, when nonprofits work together, they can succinctly bring together their followings to help make one powerful impact. As writer Jennifer Chandler says, “When that same nonprofit collaborates with another entity, their two spheres of influence combined can expand their ability to advance their shared goals and their individual missions…”
This shared experience can help grow awareness between the two organizations, but also create a collective approach to the issue you are combating. Chandler continues in her piece, “…the upside of collaboration can be enormously positive for moving an agenda forward, mobilizing stakeholders, or simply increasing a nonprofit’s ability to influence a greater number of people.”
The nonprofit world is also more accepting of supporting other nonprofits and lifting each other up to succeed. After all, if the end goal is to help make the world a better place, then it’s hard to get upset over that.
The world needs to see more good right now
This is the understatement of the year, especially when it comes to 2020. However, when it comes to nonprofits, they are usually a bipartisan topic among the public. Most people would agree that many nonprofits work for the betterment of a community, and come with very little controversy attached to them. While some people may not share the passion you may have for a cause, it doesn’t mean that they wouldn’t help support it. Being a part of an organization works for the “good” of society is not only uplifting but also makes you realize that money isn’t the answer when it comes to happiness.
Volunteering is an essential tool you can utilize
I know people who are looking for something meaningful to do, without the pressure of having a set schedule or time commitments to worry about. That is why many people will volunteer their time to help a local nonprofit. The work is not only meaningful to them, but it also helps you get more work done without the worry of extra overhead that needs to be accounted for. That is why asking for volunteers to help with certain tasks is nothing to fret over. Many people are looking to help out in a positive way that means more than making a few extra dollars.
Altruism is good for the soul
While money is a necessary part of life, it isn’t what always makes us the happiest. When you work in the nonprofit world, there is a feeling you get that seems to makes you whole. It is almost as if your heart becomes complete in a way that a corporate world cannot fulfill. This isn’t to say that nonprofits don’t have their ups and downs either (believe me, they do), however, when you see the overall good a nonprofit does, then it really makes leaping into the nonprofit entrepreneur sector all the more worth it in the end.
Hopefully, this helped inspire your desire to take on the entrepreneurship world in a way you never thought possible. Maybe you always had that dream of doing something on your own, but never knew what you could do. While I am here to say that anything is possible, and I’m always cheering those on who want to make the world a better place than they found it.