Every news outlet is talking about it, a recession. However, not many are talking about what a nonprofit leader can do to prepare their organizations. In this episode, Michael shares his 7 actions nonprofit leaders can take to prepare their organizations for a recession.
Timestamps:
00:45 – Introduction
01:00 – Michael’s 7 tips for nonprofit leaders to prepare for a recession
02:15 – Plan and Prepare
04:05 – Be open with your stakeholders
04:55 – Align expenses with new revenue projections
06:25 – Prepare for staff reductions
08:45 – Review and update your budget
09:53 – Diversity revenue streams
10:30 – Build relationships with community partners
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