The relationship between nonprofit and for-profit businesses is an important one. Partnerships between the two companies have created vast amounts of community service and social good throughout the areas in which they operate. When looking for a business to partner with, you will want to make sure that you are asking the right questions and gathering the right information. The beginning of a Nonprofit-Corporate partnership is a crucial part in sustaining a long-lasting partnership. This article will highlight key points that businesses should address before they agree to form a partnership.
Know Your Stuff
Jumping into a Nonprofit-Corporate sponsorship is an exciting feat for both parties. Both companies are looking to expand their impact of social good in a certain type of way. The very first thing you should know about your potential partner company is what kind of impact are they looking to have. One company’s Corporate Social Responsibility (CSR) may be different than others, and it is crucial to understand how the company is trying to conduct itself. Make sure that your expectations line up with your partner company so you both can begin to work towards similar goals and have the most effective impact. This level of research should be completed before any kinds of communication has been exchanged.
Once you have found a partner company that aligns with your goals, the next step is to open up means of communication on as many levels as possible. The start of a Nonprofit-Corporate Partnership should pave the way for how you and your partner company will be communicating moving forward. Create benchmarks for shared goals, schedule consistent check-ins with the appropriate staff about the progress that has been made. Identify and plan for upcoming events that align with your shared goals. Keeping communication open and transparent will help both of your companies benefit from the partnership in the long-run.
Nonprofit-Corporate Partnerships have effectively offered a substantial amount of social good to their communities and surrounding areas. A beneficial partnership between these two kinds of companies can last a long time and have lasting effects for years. Understanding both sides of the coin is essential for creating those long-lasting relationships. Understanding why Corporations want to give back is the key. When the expectations on both sides are laid out clearly, there is no telling how much good this kind of partnership can do.