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I -- welcome back to foxnews.com.
Alive I'm Laura -- taking you through this thirty minutes of business news and and all that stuff that goes along with that of how to run a great business and and get some good tips for you joining me here -- we have another guest introduce you to -- gala the managing partner of the opus group you can find him on Twitter at the Gallo from.
And we encourage you to follow him get some good tips and Gregory or -- is here to talk -- about how to sustain and grow a non profit.
Now as we know a lot of a lot of Americans work for various nonprofits and organizations.
Or who are involved in.
Charities and groups and obviously very -- a lot of people involved with that so we want to talk to about.
The tips and advice you have for nonprofits.
And how to really sustain and grow this economy because it seems like it could be.
A real challenge it's absolutely challenge no question thank you for having fun way out.
I think the most important thing is not to be afraid to take risks -- you have to sit back and look at what your objective is as a nonprofit.
Non profits because they they draw so much donated time they -- -- do and carry forward what they -- the last year cassettes and easy way right.
But -- sustain something long term you have to think outside the box set back.
Think about what risk you can take to help sustain and grow that nonprofit organization I -- -- -- look at what we've got into Hoboken Italian festival over the years.
Fourteen years ago we did something.
Was almost blasphemy at the time which was change in the location -- and how we gonna find you how they wanted to find the new location.
So you put the message out and over time it was success.
Now we have to talking points appears some bullet points if you will about how to sustain -- -- nonprofit you talked about.
Does not being afraid to take -- And -- could go over some of these other highlights for us well and one of the things we have -- power of partnerships.
Like a business you have to know what you skill sets are what you're good -- What you're not -- that you have to either outsource apartment with somebody else whether it be a corporation -- -- -- -- business and we've at the hello an Italian -- -- a great job important local businesses and in Hoboken.
As an example.
And when those call -- bakery very successful.
I -- -- they're really time flying -- -- got a big on hand vessel does that happen could only Soledad I thought what we pointer with salmon and an effort -- can always at the events and it's worked out very well to win win right.
But how do you go up on the partnership's -- that's probably a challenge for some people who may not have entered into this world.
Absolutely and -- one of the other part of the outsourcing you wanna be able to partner with.
PR firms they help make contacts sponsors corporate sponsors.
These all help you make those introductions make those partnerships and again and grows over time doesn't happen one day right happens over time -- we have more of those talking point so wanna go over so people -- get some good tips from you must get one of the great things about a nonprofit.
Is you really can look at it as a business.
You look at your revenues -- you diversified.
Or your revenues profitable to have high margins if they don't why are you sustaining those revenues why not outsource that to another group.
You look at your expenses the same way or we being efficient -- again -- non profit to Hoboken is nine -- are human resource expenses zero.
Who's -- that's a very lean expense but we look -- on the other expenses we have.
You look can we do better here and at the end of the day you want -- look at your fixed costs again as an outdoor festival.
You look at whether or something you can't control right so if you have bad weather what have you done to control your expenses so that -- at the end of the day you don't break.
Rank and it does that mean insurance because I currently have an outdoor wedding we had to -- Wedding insurance absolutely part of the equation is -- event insurance and wanted to show you protect against disaster.
A one of the things -- talked about the past is -- beekeeper nonprofits is cost containment.
-- talking about this as well and controlling expenses.
The all these tips that you have brought to us really tie -- to the event that you're planning and Hoboken next month.
We want to talk about that and also give you the website to check out -- you know what we're talking about here the Hoboken Italian festival dot com.
That really lays out just give us and another brief overview.
Well it's a traditional Italian festival.
-- and kind fees have been going on for hundreds and hundreds of years the first Italian -- involved with our festival because in Italy and thirteen 99.
That's over 600 years ago.
And obviously in order to sustain that you've gotten involved frank and as part of the evolution United States are -- -- 86 years ago.
And fourteen years ago we changed locations.
Along the way we've anything's like pizza eating contests and can only conference great song confidant and great entertainment and great food at all works and of course with a with a -- focus on family.
Right all right then again the web site is Hoboken Italian festival a dot com Gregory -- managing partner of opus group.
You want to tell people how to find you.
Act Gallo Gregory that's -- a best.
And Hoboken giant -- Twitter account is Hoboken -- -- the -- Italy.
Fast are excellent thank you for being with us -- -- -- -- -- a lot thank you very much except straight Boehner.
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