Five Strategies for Creating Organizational Abundance During Times of Economic Crisis

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Sponsored by the National Council on Aging and
IlluminAge
Healthy Aging Briefing Series
Five Strategies for Creating Organizational
Abundance During Times of Economic Crisis
WELCOME
This session will begin promptly at 130pm
ESTPlease mute your phonePersonal introductions
are not necessaryThe moderator will be on the
line shortly
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Five Strategies for Creating Organizational
Abundance During Times of Economic Crisis

• Jim Firman
• President CEO
• National Council on Aging
• May 2009

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• "Out of clutter, find simplicity.
• From discord, find harmony.
• In the muddle of difficulty, lies opportunity.
• Albert Einstein

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Strategy 1

• Believe in
• abundance
• and
• act accordingly!

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Economics of Scarcity
Wealth Resources
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Economics of Abundance
Wealth Resources X TechnologyN
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Creating Abundance

• Implications
• for the
• Aging Network

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Eight Potential Sources of Millions and Billions
for Aging Service Organizations

• Consumer disposable income
• Consumer assets
• Planned giving
• Medicare Medicaid
• Corporations
• Foundation and government grants
• Other organizations
• Older adults

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Strategy 2 Know and Live Your Hedgehog Concept
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The Three Circles of the Hedgehog

• What are you deeply passionate about?
• What are you the best in the world at?
• What drives your resource engine?

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NCOAs Hedgehog
What are we PASSIONATE about?
Improving the lives of older Americans,
especially those who are disadvantaged and/or
vulnerable

• Collaborative Leadership
• Advocacy
• Innovation

Maximizing value for funders and stakeholders
What can we be BEST in the world at (in the U.S,
in the field of aging)?
What DRIVES our RESOURCE engine?
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NCOAs Strategy for Capitalizing on the
Stimulus Package

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Strategy 3

• Get out of the business of providing services and
  programs
• Get into the business of producing and selling
  outcomes

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US Federal Spending in Billions, 2006
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Strategy 4

• Intensively develop your organizations
  non-monetary resources

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Three Primary Resources of Non-Profit
Organizations

• Money
• Time of Stakeholders
• Brand

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Strategy 5

• Make surgical cuts, not across-the-board cuts or
  freezes.

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Peter Drucker said

• Failure to abandon is the biggest mistake that
  non-profit organizations make.

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Five strategies for thriving during the economic
crisis

• Believe in abundance and act accordingly
• Know your Hedgehog and stick to it
• Focus on impact and outcomes
• Proactively develop your non-monetary resources
• Make surgical cuts, not across-the-board cuts or
  freezes.

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Carpe Diem!

• A crisis can be a great opportunity for
  transformation and progress

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QUESTIONS?
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Now and for the next few days, Dr. Firman will
lead an online talk in the Senior Center Forum
on NCOAs Crossroads Community www.ncoacrossroads.
org Please join us to learn even more and
share your ideas on this topic, and to ask Dr.
Firman your questions. To participate, Go to
Crossroads at www.ncoacrossroads.org Log in
with your email address Enter this password
Seniors We look forward to talking with you!