Valuetainment - Episode 258： What Startup Entrepreneurs Can Learn from Non-Profit Organizations

00:00:00.000 30 seconds, one time for the underdog, ignition sequence start, let me see you put em up, reach

00:00:09.220 the sky, turn the stars up above, cause it's one time for the underdog, one time for the

00:00:16.220 underdog.

00:00:17.220 I'm Patrick Medebi, your host of Valuetainment, and today we're going to talk about what entrepreneurs

00:00:20.500 and executives actually can learn from non-profit organizations.

00:00:24.740 This past week, I visited Toronto, Canada, and then I went to Jacksonville and Fort Lauderdale

00:00:30.280 and San Francisco, and during that trip, I was visiting several other entrepreneurs, startup

00:00:36.200 entrepreneurs, business owners, and a question was brought up, question was brought up, is

00:00:41.200 it harder to run a non-profit or is it harder to run a profit organization?

00:00:45.480 I asked the question this, a person who runs a non-profit, if we took them and we planted

00:00:52.220 them in a profit, would that person do better than a person who's been in profit all day

00:00:57.300 long going into a non-profit?

00:00:58.760 Let me explain to you why.

00:01:00.280 There is a lot we can learn from non-profit organizations, especially startup entrepreneurs, lots to be

00:01:05.260 learned from non-profit organizations.

00:01:06.680 I came up with six, there was a lot of points, but six main points I came up with on what we

00:01:12.300 as startup entrepreneurs can learn from different non-profit organizations, leaders who lead non-profit

00:01:17.600 organizations.

00:01:18.180 First one is this, if you're around a leader of a non-profit organization, they cannot help

00:01:23.740 but talk about their cause and the purpose of their non-profit all the time.

00:01:28.960 There is no way in the world you can be around a non-profit organization leader, anybody, and

00:01:35.300 have them not talk about their cause.

00:01:37.320 Sometimes, you know, profit entrepreneurs, they're going to talk about profits, they're

00:01:41.140 going to talk about business, they're going to talk about their revenues, the numbers.

00:01:44.100 A non-profit knows what gets you to get the funding is you have to constantly talk about

00:01:51.880 your purpose and your cause.

00:01:53.300 Sometimes startup entrepreneurs talk too much about the business, the how-to, not enough

00:01:57.440 about the bigger picture.

00:01:58.620 There's a lot to be learned there from what non-profits do no matter who they talk to.

00:02:02.400 Second thing about non-profits that's very unique that we can all learn from as a startup

00:02:06.340 entrepreneurs is, because they work with volunteers every day, they're constantly having volunteers

00:02:14.280 that come, they end up becoming very, very good teachers of teaching the basics.

00:02:19.940 Reason why is because in the corporate world, you're going to train somebody, you don't need

00:02:24.520 to teach them that thing anymore, they're already good at it.

00:02:26.600 Then you have to teach them something else, and then something else, and then they're set.

00:02:29.900 They could stay with you doing the same thing for the next 5, 10, 15, 20 years.

00:02:33.180 That's not the case with non-profits.

00:02:35.080 Non-profits are dealing with 10, 20, 30, 40, 50, 100, 200, 300, 400, 500,000, 2,000,

00:02:39.880 volunteers.

00:02:41.460 So they're always teaching the basics.

00:02:42.900 So here's how you say this, here's how you fold this, here's how you do this.

00:02:45.900 So non-profit organization leaders become very good teachers, because they're always teaching

00:02:51.160 when they're dealing with volunteers, and they become very good at teaching new people.

00:02:55.720 Startup entrepreneurs can learn a lot about that on what they do.

00:03:00.020 The next thing, what non-profits do.

00:03:01.480 Sometimes startup entrepreneurs, we tend to, you know, success comes, and in the family,

00:03:08.100 friends, people say, you know, I'm doing this, I'm running a business, I'm running this, I'm

00:03:12.200 running that, and more people start hyping you up, and you start really thinking you're

00:03:17.860 there, and compared to other people you may be there, but you're not there yet.

00:03:22.260 And that ego prevents you from asking for help.

00:03:26.140 So we no longer want to ask for help, or sometimes even new rookie startup entrepreneurs don't

00:03:31.820 like to ask other people for help, because you're not supposed to ask anybody for help.

00:03:36.260 Well, anybody who runs a non-profit organization, they are always asking people for help.

00:03:40.700 Hey, Mary, do you mind helping us out about this?

00:03:42.580 Hey, John, do you have a couple minutes?

00:03:44.120 Yes.

00:03:44.760 Hey, I just need your help.

00:03:45.880 Do you mind if you help us out for this project?

00:03:47.620 Please, if you could really help us out, we would definitely appreciate it.

00:03:50.520 Oh, definitely, what can I help you out?

00:03:51.680 We needed three people who can come out and help us put these things up.

00:03:54.860 No problem.

00:03:55.540 I'll send three people over.

00:03:56.800 Hey, Jackie, look, we need your help.

00:03:58.420 Can you help us out?

00:03:59.460 We're looking for somebody who can help us.

00:04:01.640 Bring an AV team.

00:04:02.540 We just don't have a budget for it.

00:04:03.860 Can you bring somebody or something?

00:04:05.240 They're always good at asking for help.

00:04:07.000 Sometimes startup entrepreneurs, they think they don't have the right to ask for help, and

00:04:11.440 you can always ask for help.

00:04:12.800 When you're smaller, you've got to ask a lot of people for help.

00:04:15.380 When you're getting, you've got to ask a lot of people for help, and sometimes it's

00:04:18.560 a reciprocal.

00:04:19.200 You're giving help to another person to partner up with.

00:04:22.400 Here's another thing nonprofit organizations do very well that startup entrepreneurs can

00:04:27.180 learn from.

00:04:27.620 They're very good at stretching the money.

00:04:29.880 They're very, very good at stretching the money.

00:04:31.960 They can put a $20,000 event together with $1,000.

00:04:36.240 A startup entrepreneur sometimes tends to put a $20,000 event together with $50,000.

00:04:42.140 Does that make sense?

00:04:42.700 Sometimes a nonprofit stretches the money.

00:04:45.880 How can we work over here?

00:04:47.380 How can we do something about this part?

00:04:49.260 What can we do to get volunteers in this part?

00:04:51.360 Who can we get that can help out with this part?

00:04:53.360 At the beginning stages of a company, being an entrepreneur yourself, you're attacked with

00:04:57.000 money.

00:04:57.320 You can't spend a lot of money on a lot of different things.

00:04:59.080 You need help as much as possible to figure out how you can stretch $2,000, $3,000, $4,000,

00:05:07.740 because you don't yet have capital of $400,000, $4 million, or $40 million to be able to do

00:05:13.220 the bigger things.

00:05:13.920 You need to learn how to work with the $4,000 or $40,000 to stretch it.

00:05:17.940 Nonprofits are very, very good at breaking it down and trying to get it to be as tight

00:05:22.600 as possible.

00:05:23.340 Here's another thing that nonprofit organizations leaders do very good at.

00:05:27.340 They eventually, because they ask so many people for help and get rejected, because they ask

00:05:32.960 so many people to raise money with and they get rejected, because every day they're told

00:05:37.580 to know, guess what they become immune to?

00:05:40.300 They become immune to rejection.

00:05:42.020 It doesn't bother them no more.

00:05:43.760 Because to run a nonprofit, you cannot run a healthy nonprofit without being rejected

00:05:50.300 every single day.

00:05:52.940 Whether you're running a church, whether you're running a nonprofit organization for a cause,

00:05:57.340 and it doesn't matter.

00:05:58.920 So many people will regularly say no to you.

00:06:02.300 So many people will constantly say no to you, and you still got to be able to learn how

00:06:06.260 to deal with it.

00:06:07.020 And then last but not least, nonprofit organizations, they see a lot of people come and they see

00:06:12.080 a lot of people go.

00:06:13.260 They see a lot of people come and help out for a few months and they're gone.

00:06:15.760 Another person comes and another person comes and another person comes.

00:06:18.940 And eventually, they find the right leaders within a nonprofit that buy into the cause because

00:06:24.540 they can't stop talking about it.

00:06:26.160 That eventually, that person who was a volunteer, they get promoted to a leader.

00:06:30.500 They get promoted to somebody who wants to run, maybe a director, maybe a person that's

00:06:34.860 managing different parts of the nonprofit because their heart's now in it.

00:06:38.300 Then they become leaders.

00:06:39.720 But they don't emotionally get attached to somebody coming in and somebody leaving.

00:06:43.080 And I sometimes see entrepreneurs, you know, that guy, he was going to come, I thought

00:06:46.440 he was going to do this and he left.

00:06:48.140 Oh, this is why my business is not going to work.

00:06:50.320 You're too attached to one person.

00:06:52.320 Nonprofits, they appreciate it.

00:06:53.520 Great.

00:06:53.840 You came.

00:06:54.620 We learned.

00:06:55.200 You gave some time.

00:06:56.040 It helped out and you move on.

00:06:57.640 And when you think about those things and you think about what nonprofit organizations,

00:07:01.780 leaders do, I would tell you, if you know locally any nonprofits that do very well

00:07:06.780 and you're an entrepreneur, take them out to lunch.

00:07:09.860 Treat them out to lunch.

00:07:10.740 That's my suggestion to you.

00:07:11.860 Treat them out to lunch for one hour.

00:07:13.720 Ask them questions.

00:07:14.920 Questions such as, how do you ask for help?

00:07:17.360 How do you raise money when you ask people to voluntarily give $1,000, $2,000?

00:07:22.760 How do you do it?

00:07:24.060 How do you get people to volunteer their time to help you out?

00:07:26.780 How do you go through having such a thick skin where it doesn't bother you?

00:07:30.440 You would be amazed how much you will learn from somebody who's a leader running a nonprofit

00:07:35.080 as a startup entrepreneur.

00:07:37.220 It'll uptake your business to a whole different level.

00:07:39.440 Thanks, everybody, for listening.

00:07:40.980 And by the way, if you haven't already subscribed to Valuetainment on iTunes, please do so.

00:07:45.580 Give us a five-star.

00:07:46.980 Write a review if you haven't already.

00:07:48.460 And if you have any questions for me that you may have, you can always find me on Snapchat,

00:07:52.560 Instagram, Facebook, or YouTube.

00:07:54.380 Just search my name, PatrickVidDavid.

00:07:56.420 And I actually do respond back when you snap me or send me a message on Instagram.

00:08:01.420 With that being said, have a great day today.

00:08:03.140 Take care, everybody.

00:08:03.860 Bye-bye.

00:08:04.120 Bye-bye.

00:08:04.880 Bye-bye.

00:08:09.580 Bye.

00:08:09.860 Bye-bye.

00:08:10.500 Bye.

00:08:10.820 Bye.

00:08:11.660 Bye.

00:08:12.800 Awesome life.

00:08:15.940 Bye.

00:08:16.260 Bye.

00:08:17.440 Bye.

00:08:18.240 Bye.

00:08:21.600 Bye.

00:08:22.280 Bye.

00:08:23.740 Bye.

00:08:24.280 Bye.

00:08:24.620 Bye.

00:08:25.260 Bye.

00:08:25.840 Bye.

00:08:26.080 Bye.

00:08:27.600 Bye.

00:08:28.140 Bye.

00:08:28.420 Bye.

00:08:29.240 Bye.

00:08:29.640 Bye.

00:08:29.780 Bye.

00:08:30.580 Bye.

00:08:30.780 Bye.

00:08:30.800 Bye.

00:08:31.820 Hey, bye.

00:08:31.980 Bye.

00:08:32.540 Bye.

Valuetainment - January 30, 2019

Episode 258： What Startup Entrepreneurs Can Learn from Non-Profit Organizations

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