May 29, 2020 | Video
Outsourcing: The Game-Changing Solution for Nonprofits
As an Eide Bailly Resourcefullness Award winner, the Frank Lloyd Wright Foundation (FLWF) has exhibited efficiency in their processes and found sustainability for their organization by thinking outside the box. From their success, we can learn how outsourcing can be a key factor in an organization’s ability to maximize profits while maintaining a small staff.
The Frank Lloyd Wright Foundation makes it their mission to preserve the two estates of Frank Lloyd Wright, one being his laboratory in Arizona—a National Historical Landmark—and the other his childhood home in Wisconsin. Their organization aims to inspire society through an understanding of Frank Lloyd Wright’s ideas, architecture and design. They wish to preserve Wright’s work and provide a meaningful experience of it while educating the public on his architectural principles. Additionally, they use Wright’s work to promote STEAM education for youth.
Frank Lloyd Wright Foundation
Built-in Market Research with Print-on-Demand
What makes the Frank Lloyd Wright Foundation worthy of a Resourcefullness Award is their use of third-party print-on-demand websites to create their products. Wright was famous for his stunning designs and patterns, which the organization has used to offer a wide range of souvenirs, jewelry, house decor and other items. From cell phone cases to scarves, the FLWF is able to make official licensed designs while keeping their overhead low. By outsourcing production, market research gets intrinsically built into the process. This not only keeps costs down but has the added benefit of reducing waste, since only the items being sold are the ones being created. The FLWF can provide the best-selling, most popular product designs to people all over the world, not just those who physically visit the Wright estates. Outsourcing production allows the Frank Lloyd Wright Foundation to achieve sustainable year-round revenue with higher customer satisfaction.
What Processes Can You Outsource to Keep Costs Down?
For nonprofits looking for ways they can increase their margins while having a small staff and limited storage spaces, outsourcing can be a game changer. If your organization creates products to sell, then a print-on-demand partner could be an excellent choice. However, other processes can be outsourced as well, including bookkeeping services, payroll and even the role of CFO.
Do you know the difference between a CFO, controller and bookkeeper? Each role contributes to the success of your business in different ways
In order to make your business dreams a reality, it’s important to make sense of the numbers, so you can understand where you’re at and how to get where you’d like to be. Outsourcing critical business functions can help with that understanding as well as free up your time to focus on other aspects of your business. We offer a variety of packages to help you explore the options that make the most sense for your organization. Contact us today to get started.
Our Resourcefullness Awards honor nonprofits implementing creative and sustainable revenue generating initiatives.