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Think Out of Box

Think Out of Box

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Published by: varun_nayak_1 on Nov 15, 2013
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SPONSORED BY THE NATIONAL COUNCIL OF YOUNG ISRAEL TOURO GRADUATE SCHOOL OF BUSINESS THE JEWISH PRESS DECEMBER 18, 2008

Entrepreneurship – the result of a disciplined,
systematic process of applying creativity and innovation to the needs and opportunities in the marketplace. Entrepreneurs connect their creative ideas with the purposeful action and structure of a business. APPLICATION: Find Creative ways of Fund Raising 1

One who creates a new approach to fund raising in the face of risk and uncertainty for the purpose of achieving revenue and growth by identifying opportunities and assembling the necessary resources to capitalize on them. .

13. 15. 9. 25. 28. 4. independence Imagination Perceptiveness Tolerance for ambiguity Aggressiveness Capacity for enjoyment Honesty. machinery. 29. 6. thoroughness Cooperativeness Profit orientation Ability to learn from mistakes Sense of power Pleasant personality Egotism Courage. knowledge of product. 2. 12. diligence Resourcefulness Ability to take calculated risks Dynamism. 21. 31. market. 18. integrity 3 . 3. 14. technology Creativity Ability influence others Ability to get along well with people Initiative Flexibility Intelligence 16. 17. 8. 7. 30. 20.1. 19. Confidence Perseverance. 11. 22. 10. leadership Optimism Need to achieve Versatility. 26. 23. determination Energy. 5. 27. 24. Responsibility Foresight Accuracy.

The opportunity to: Create your own programs Make a difference Maximize your $$$$ potential Reap impressive fundraising results Contribute to the community and to be recognized for your efforts Do what you enjoy and to have fun at it 4 .

Myth 1: Entrepreneurs Are Doers. Not Thinkers Myth 2: Entrepreneurs Are Born. Not Made Myth 3: Entrepreneurs Are Always Inventors Myth 4: Entrepreneurs Are Academic and Social Misfits Myth 5: Entrepreneurs Must Fit the “Profile” Myth 6: All Entrepreneurs Need Is Money Myth 7: All Entrepreneurs Need Is Luck Myth 8: Ignorance Is Bliss For Entrepreneurs Myth 9: Entrepreneurs Seek Success But Experience High Failure Rates Myth 10: Entrepreneurs Are Extreme Risk Takers (Gamblers) 5 .

Know your institutional goals in depth (budget) Develop a long range solid strategy Identify and manage financial resources Understand financial cash flow Learn to manage people effectively Keep in tune with program timeliness 6 .

YES! By overcoming paradigms and by suspending conventional thinking long enough to consider new and different alternatives! 7 .

1. “Naah.” “It’s not in the budget. but if you did that…. 6. 12. 4. 10. 11.” That doesn’t sound too practical.” “Can’t” (said with head shake & air of finality) “That’s the dumbest thing I ever heard.” “Yeah.” 8 . 7.” (poses unlikely disaster cause) “We already tried that-years ago. 8. 9.” Where do you get these weird ideas?” “Let’s get back to reality. 3.” “We’ve done all right so far. 2. why do we need that?” “I don’t see anything wrong with the way we’re doing it now. 5.” “We’ve never done anything like that before.

Focusing on “being logical” Blindly following the rules Constantly being practical Viewing play as frivolous Searching for the one “right” answer (and be different) 9 .

Becoming overly specialized Avoiding ambiguity Fearing looking foolish Fearing mistakes and failure Believing that “I’m not creative” 10 .

Is there a new way to do it? Can you borrow or adapt it? Can you give it a new twist? Do you merely need more of the same? Less of the same? 11 .

Is there a substitute? Can you rearrange the parts? What if you do just the opposite? Can you combine ideas? Can you put it to other uses? 12 .

but if executed would revolutionize your fundraising? 13 .What else could you make from this? Are there other fundraising opportunities for it? Can you reverse it? Can you rearrange it? What idea seems impossible.

rather than Discovers problems and avenues finding. is more interested in ends Is capable of extended detail work Has little tolerance for routine work Is sensitive to group cohesion and Has little or no need for consensus. methodical Approaches tasks from unusual approach angles Is concerned with solving. cooperation often is insensitive to others 14 .ADAPTOR INNOVATOR Employs disciplined. problems of solutions Attempts to refine current practices Questions basic assumptions related to current practices Tends to be mean oriented Has little regard for means. precise.

Talk with congregants Look for uses for your institution’s products or services in other markets Reward creativity Develop procedure to capture ideas 15 .

especially those in completely different markets Recognize the creative power of mistakes 16 .Allow yourself to be creative Give your mind fresh input every day Observe the products and services of other institutions.

” Make the group as diverse as possible. Limit the session to 40 to 60 minutes.Brainstorming ◦ Goal is to create a large quantity of novel and imaginative ideas. Organizational position is irrelevant. Keep the group small – “Two pizza rule. 17 . Take a field trip. Have a well-defined problem. but don’t reveal it ahead of time. Appoint a recorder.

Encourage all ideas from the team. Throw logic out the window. 18 .” Dare to imagine the unreasonable. Forbid criticism. Encourage idea “hitch-hiking.Use a seating pattern that encourages interaction. Shoot for quantity of ideas over quality of ideas.

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Collect data on these targets. Enhance your fundraising by giving prospective donors information about their goals and how you will use funds.Identify your best donor targets.a chance to improve your services and quality. Encourage complaints and then fix them! Calculate long-term value of donors so you know which ones are most desirable (and most profitable).” Make sure your institution’s product and service quality will astonish your customers 19 .“just-in-time marketing. Know what your prospect’s giving cycle is and time your fundraising efforts to coincide with it . linking their identities to their congregation activities See non-givers reluctance for what it is . never passing up the opportunity to get their names.

Is it really a better solution? Will it work? Is there a need for it? If so.Validate the idea as accurate and useful. what is the best application of this idea in our fundraising agenda? ◦ Does this fundraising event or activity fit into our core competencies? ◦ How much will it cost to establish and maintain? ◦ Can we make it appear to be reasonable and fulfilling? ◦ ◦ ◦ ◦ 20 .

entertain. Don’t just sell.Answers key congregant question: “What’s in it for me?” Consider intangible or psychological benefits as well as tangible ones. Find a niche and fill it. Strive to be Unique Can I try some of your painkiller? -Get well soon 21 .

Raising money takes time and effort. 22 . 4. Creativity counts.1. 2. the key is knowing where to look. The money is out there. Entrepreneurs have to be as creative in their searches for funds as they are in developing their ideas. Choosing the right sources of fundraising is a decision that will influence your institution for a lifetime. 3.

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