How do you balance the need for innovation and impact with the constraints of funding and resources?

2 Diversify your funding

The second step is to diversify your funding sources and strategies. Relying on one or a few donors can limit your flexibility, creativity, and autonomy. Seek out different types of funding, such as grants, donations, sponsorships, partnerships, crowdfunding, social enterprise, or earned income. Each type of funding has its own advantages and disadvantages, so weigh them carefully and choose the ones that best suit your innovation and impact goals. For example, grants can provide large amounts of funding for specific projects or programs, but they can also be restrictive, time-consuming, and uncertain. Donations can be more flexible and unrestricted, but they can also be unpredictable, dependent on donor loyalty, and costly to acquire. Partnerships can leverage the strengths and resources of other organizations, but they can also entail coordination, compromise, and accountability challenges.

4 Collaborate and network

The fourth step is to collaborate and network with other actors in your field or sector. Innovation and impact are not achieved in isolation, but in collaboration and coordination with others. You can benefit from the knowledge, experience, resources, and influence of other non-profit organizations, social enterprises, foundations, government agencies, academic institutions, or private sector companies. You can collaborate and network with them in various ways, such as sharing information, best practices, lessons learned, challenges, and opportunities; joining coalitions, alliances, or networks; participating in events, workshops, or conferences; or forming partnerships, joint ventures, or consortia. By collaborating and networking with others, you can increase your innovation and impact potential, as well as your credibility, visibility, and sustainability.

5 Balance and prioritize

The fifth step is to balance and prioritize your innovation and impact activities with your funding and resource constraints. You cannot do everything at once or for everyone. You have to make choices and trade-offs based on your mission, vision, values, and goals. You have to prioritize the most important and urgent problems you want to solve, the most effective and efficient solutions you want to offer, and the most relevant and reachable beneficiaries you want to serve. You also have to balance the short-term and long-term implications of your innovation and impact efforts. You have to consider the immediate and direct effects of your activities, as well as the long-term and systemic changes you want to create.

6 Celebrate and appreciate

The sixth step is to celebrate and appreciate your innovation and impact achievements, as well as your funding and resource contributions. You have to acknowledge and recognize the hard work, dedication, and passion of your staff, volunteers, donors, partners, and beneficiaries. You have to celebrate the successes, milestones, and stories of your innovation and impact efforts. You have to appreciate the challenges, failures, and learnings of your funding and resource constraints. You have to foster a sense of gratitude, pride, and purpose in your organization. You have to inspire and motivate yourself and others to continue striving for innovation and impact.