12 Jun Knowing the Community You Serve: A Non Profit Approach to Business
Since The Good Doctors work with both businesses and non profit organizations, we have to navigate between the two seemingly disparate worlds to serve all our clients. In reflecting on some of the major issues facing our potential clients, we have realized there are striking similarities between running non profits and for profit organizations.
Though for profit businesses are usually driven by their ability to maintain a profit, there business model still requires them to consider the specifics of the market (local and global) that they inhabit. Similarly, to non profit organizations they are reliant on a symbiotic relationship with the communities they serve to stay in business.
Non profit organizations are usually driven by the needs of their community. In identifying an area for improvement, from health services and social welfare, to potable drinking water or internet access, non-profits advocate for the local community needs, and work to improve conditions for their consumer base. Here at Abbey Research we feel that taking this approach to serving the community and applying to a business model, is a surefire way to ensure business longevity and customer satisfaction.
Businesses cannot start nor thrive without the support of their customers, yet thousands of businesses and organizations around the world fail to recognize that their treatment of customer needs correlates directly to long-term success in the market. Likewise, recognizing that different socio-economic, geographic, and demographic factors in each locality impact your ability to do business is a vital component in a managing a productive and successful business plan.
In approaching the development of for profit business with a non profit sense of community, owners will foster a sense of community within their consumer base. Considering a more holistic approach to productivity and profit allows companies to find a successful model through ensuring they are meeting the needs of the individual and the overall industry. Businesses become a lasting part of any community through learning about their customers, and adjusting their business approaches to meet their specific needs.
Imagine the impact that people could have within their communities, if they not only shaped their business approach to serve the community, but actually promoted volunteerism within their employees. Working with and for local communities can only serve to build a stronger bond, increasing not only profit shares but community strength and integrity. Want to learn more about how business approaches and philosophies? Please don’t hesitate to get in touch!