Mentorship & Bringing the Entrepreneurial Mindset to Your Nonprofit
Show Notes:
In this episode of 7-Figure Fundraising, host Trevor Bragdon interviews Donnie Wilson, President of the Midland Institute for Entrepreneurship. He has worked for both nonprofit and for-profit organizations, including his business Elastec, one of the largest manufacturers of pollution control products. Together they discuss how Donnie uses his entrepreneurial experiences and mentorship to grow a nonprofit and leads others to do the same.
How the CEO Program Empowers Teenagers
To begin, Donnie shares the details about his nonprofit, Midland Institute for Entrepreneurship. Midland Institute works with communities to teach teenagers entrepreneurial skills. Within the organization, Donnie has created a program called CEO (Creating Entrepreneurial Opportunities). CEO works with community leaders to build advisory boards and raise funds for the organization. These funds go toward the work of teenagers' entrepreneurship, which includes guest speakers, business visits, business clothing, and an exhibit of the teenagers’ business plans.
Donnie shares a success story of a 17-year-old entrepreneur and the skills he gained while at CEO. Donnie knows multiple stories of teens that are now making six figures with the program. He also loves the stories of kids that are less successful in school that learn skills and niches to achieve in the business world. He states that straight-A students sometimes have a harder time in the CEO program because there isn’t a clear-cut path with questions and answers.
There are many lessons and steps within the CEO program. The first lesson the students learn is how to shake a donor’s hand. The donors are highly engaged with students and their communication is necessary. The students also learn how businesses are an integral part of the community and the complexities of running a business. The failure and success stories of community entrepreneurs create invaluable lessons for the teens as well. The students work in a team environment and require a self-starter mentality. Failure is a large part of the student entrepreneur learning process as well.
Lessons Learned about Nonprofits from the For-Profit Sector
Donnie worked many years in the for-profit sector and now applies similar tools to his nonprofit work. He knew he had a skill for team building, which was necessary when he joined Midland Institute for Entrepreneurship. Sales, marketing, and production are both a part of the for-profit and nonprofit business. He discusses the differences in quality over quantity within a nonprofit. At first, Donnie had a difficult time learning how to sell a nonprofit to donors. With the lesson from 7-Figure Fundraising, he learned how to accept the fact that donors may leave. Donnie now believes wealthier people are always giving toward an organization and they could lose an opportunity to give to a great nonprofit if he did not ask. Being a donor himself, Donnie now has a greater understanding of giving, which has changed how Donnie speaks with his donors. 7-Figure Fundraising also taught Donnie how to know and understand his donor before speaking to them.
Growing Through Both Mentorship & Mentoring
Donnie is now a mentor to many people and teens in the entrepreneurial industry. However, he first had to learn the importance of a mentor through his own life experiences. He believes connections and guidance are two of the most important pieces of growing a business. He understands self-improvement is critical before building and mentoring a team. Through his experiences and failures in business, Donnie knows the right questions to pinpoint key business problems. Donnie defines mentoring as teaching a path you have already walked. While it is easy to forget past experiences, Donnie enjoys being reminded of the problems he has solved in his own journey. He also believes in making his mentees feel comfortable and cared for by asking them questions about themselves. ‘What is the biggest challenge?’ and ‘what keeps you up at night?’ are two personal questions Donnie uses as a springboard for conversation. Likewise, Trevor and Donnie agree that warm introductions and conversations are a great way to find business guidance and perspectives from mentors as well.
To close, Donnie gives final recommendations for other growing nonprofits. He has read many books, but 7-Figure Fundraising has been one of the best aids for raising funds and growing donors. With Donnie's great business model and experience, he only required a few changes to the approach of gaining donors.
Key Takeaways:
00:25 - Trevor Bragdon introduces Donnie Wilson, President of the Midland Institute for Entrepreneurship.
01:18 - Donnie shares the details about his non-profit, Midland Institute for Entrepreneurship and the CEO program.
05:53 - Donnie shares success stories and entrepreneurial skills students have gained while in the CEO program.
12:20 - How CEO program helps students learn through both failure and success.
19:37 - Donnie explains what he learned in his for-profit career that has helped in his nonprofit career.
28:45 - Trevor and Donnie talk about how many big donors want to give and partner with nonprofits.
31:29 - Being a donor has changed how Donnie speaks to and understands his donors.
35:50 - Donnie discussed how he mentors his staff and his philosophy on mentorship.
43:13 - Donnie talks about how often he meets with his mentees.
45:57 - He believes in the importance of making his mentees feel comfortable and cared for by asking personal questions.
49:36 - Trevor and Donnie agree on the importance of finding guidance and different perspectives from mentors.
55:00 - To close, Donnie gives final recommendations for other growing nonprofits.
Learn more about the Midland Institute for Entrepreneurs.
Learn more about the CEO program at the Midland Institute for Entrepreneurs.
Connect with Donnie Wilsonon LinkedIn.