Interesting way to put things. I suppose the membership idea includes businesses that serve insured people or entities. Medical practices, certain trades that deal with accidents/disasters have a gap to mind as you put it. But an entity that exists to solve a compelling community problem could be either a for-profit or a not-for-profit. Investors/donors who believe in the mission will contribute because they want to be part of the solution. But usually, donors act out of heartfelt sympathy for the cause while investors act out of a strong belief in the potential ROI. Of course, donors are solicited constantly. Investors? Much less frequently as those served (or their proxies, e.g. insurance companies) pick up the slack. Still, non-profits could benefit from more sound management practices while for-profits could benefit from a more relational approach to the community they serve. Great topic. Great insight.
Thanks for reading, Trenton. When organizations recognize that the point of what they do is to deliver value, they can choose the model that will allow them to secure the resources they need to fund their work with the least amount of distraction.
Interesting way to put things. I suppose the membership idea includes businesses that serve insured people or entities. Medical practices, certain trades that deal with accidents/disasters have a gap to mind as you put it. But an entity that exists to solve a compelling community problem could be either a for-profit or a not-for-profit. Investors/donors who believe in the mission will contribute because they want to be part of the solution. But usually, donors act out of heartfelt sympathy for the cause while investors act out of a strong belief in the potential ROI. Of course, donors are solicited constantly. Investors? Much less frequently as those served (or their proxies, e.g. insurance companies) pick up the slack. Still, non-profits could benefit from more sound management practices while for-profits could benefit from a more relational approach to the community they serve. Great topic. Great insight.
Thanks for reading, Trenton. When organizations recognize that the point of what they do is to deliver value, they can choose the model that will allow them to secure the resources they need to fund their work with the least amount of distraction.