The Non-Profit Times recently blogged about "Entrepreneurial Nonprofits" and it got me thinking: People running a non-profit and starting a company really share a lot of the same challenges (although they perhaps have some different reading material.)

These are the four "entrepreurial" principles espoused by the article:

• Any institution that aspires to be entrepreneurial must maintain a financially sound base of operations. This means balanced or surplus budgets and diversification of revenue sources.
• The nonprofit must be driven by its mission and focused on its accomplishments. A well-articulated and understood mission helps to define programmatic choice and guide the allocation of scarce resources.
• There must be a certain brand of leadership. The top of the organization must exhibit an upbeat, can-do attitude. Leaders must see opportunities, not problems. They demonstrate a sense of humor, a sense of perspective and a resilience that enables them to face setbacks without seeming defeated.
• The organization must be externally focused. It must be shaped to better serve customers or suppliers or partners. Doing so means that executives within institutions begin to see themselves as others see them.

Sound familiar? These are exactly what we've been talking about here at Ascendant as key principles for non-profit management, regardless of the size of the company. You must be externally focused, mission-driven, have a balanced management system, and upbeat leadership.

• Telescope or a Microscope: How do you focus on a problem? (August 18, 2010)