"Which is more difficult to run: a for-profit business or a nonprofit of equal size?"
by Chataun Denis on 08/12/10
One of my fellow colleagues posed a question in one of the Linked-In groups of which I am a member. She asked "Which is more difficult to run: a for-profit business or a nonprofit of equal size?"
My response was that, "I don't know that I would say that a nonprofit is more difficult to run than a for-profit. I see them both as the same, with the exception of the tax deduction benefit. Any social based business should have as one of its primary goals the making of profit. If the business, whether for profit or not, doesn't have money to deliver the service, then the point is mute anyway. I think a balance of "hard skills" which I'll define here as the effective use of traditional business principles, and soft skills, the passion to want to make a difference, make the perfect storm of possibilities, a social enterprise. I know it's easier said than done, but if it's your life's purpose, as someone said in a previous post, it'll all work itself out." What do you all think? One of my fellow colleagues posed a question in one of the Linked-In groups of which I am a member. She asked "Which is more difficult to run: a for-profit business or a nonprofit of equal size?"
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