Something we can always count on in life is change. While planning for the future is a useful exercise to help shape your charity’s decision-making, strict plans are asking to be ruined. The charity sector is constantly changing. We’ve all seen what a sudden shift can look like and how it can affect us.
However, across many industries – including the charity sector – time and resources are still being wasted trying to avoid the inevitable. Trying to avoid the changes that are always lurking around the corner. That’s not the way, we think. Here are some simple ways your charity shop can better embrace the exciting world of change.
The simplest way to stay abreast of any massive industry shifts is to stay up to date with the technology. At this point, after a rough pandemic, we wouldn’t be surprised if the focus is on making any investment worth its value.
So how does that factor into your tech choices? Are you looking for the solutions that let you take advantage of as many sources of revenue as possible? For example, you might want something that works seamlessly with your online store (if you have one). Or it might allow you to secure as much Gift Aid revenue as possible by streamlining the sign-up process.
These kinds of features make all the difference. If it’s not about money, then it can be about productivity. What solutions will allow your team to pick up any new software with ease? Or allow your head office staff to access need-to-know info at any team, even on the go?
We just briefly mentioned it, but it’s worth a point all of its own: diversifying your revenue streams. There’s no knowing if we’ll ever see another lockdown. But if we do, are you prepared for it? What lessons did you learn from 2020? There’s value in exploring what other opportunities are out there.
Let’s look at The British Heart Foundation (BHF) as an example. During COVID, they decided to reform their online retail services. As a result, in 2020, they saw a 12% increase in eBay sales. A more robust, online sales process means the charity bounced back quickly from its pandemic losses and is in a stronger position to embrace online markets in the future.
Not every charity has the size and reach of BHF, but what can you take from their situation? Do you have an online store people can use? If there was a lockdown, do you have a click-and-collect system to make sure people can still shop with you even if they can’t enter the store?
Diverse businesses are stronger businesses. The more you can spread your revenue across a number of independent streams, the more likely you are to bounce back from any unforeseen challenges or industry shifts.
Creating a one-, five-, or ten-year plan can be great for brainstorming innovative new ideas and opportunities. You do want to look to the future. But don’t forget about the short-term. Change is how the charity sector will continue to thrive and give back to all the incredible causes it supports.
Isn’t it time your charity embraces it?
Nisyst’s HMRC-recognised CHARiotWeb empowers your charity to always stay one step ahead of the curve. With innovative functionalities to add as you grow, including online sales, and harnessing the power of technology to streamline your day-to-day operation, we’re here to help you. If you’d like to find out more, get in touch today on 01204 706 000.