Every arts and cultural organisation needs to fundraise to generate income. Our top fundraisers are in high demand and everyone responsible for fundraising is under pressure to perform. But while fundraising is essential, how many arts organisations put as much attention into reducing costs?
A sustainable approach
Cost reduction should not be about cutting services or staff, but about sustaining them. However, having a full-time cost-management specialist on the books is a luxury few can afford. The responsibility to improve efficiency usually falls to staff who are already overloaded with more than enough duties.
With little time and short-term goals, this often leads to superficial exercises. Adopting an approach to work with just the cheapest suppliers may seem logical, but it fails to consider a wide variety of additional factors contributing to the overall situation such as supplier loyalty, quality and convenience.