In April 2020, Microsoft CEO Satya Nadella observed, “We have seen two years’ worth of digital transformation in two months” and the results of those investments will persist long after the crisis.
The pandemic is accelerating how nonprofits adapt to structural trends, both new and existing. While temporary trends such as transitioning from in-person events to virtual fundraisers have emerged, prudent leaders are adjusting how their organization can evaluate growth opportunities and reposition themselves to emerge from the global pandemic with a business model aligned for the future.
Before reallocating your capital, evaluate your growth opportunities and sketch out how you will modify your business model to take advantage of structural changes.
Below, we’ve outlined a process for adapting your nonprofit’s business model to the new reality. It starts with understanding how changes in behavioral habits will likely grow or contract as a result of the pandemic.