482. A Deep Dive into Nonprofit Mergers and Acquisitions - Danielle Steer

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Overview

Meet Danielle. She has supported 77 Minnesota-based companies that have created 405 jobs and raised $20M+ in funding since 2018💰 She recently led Lunar Startups, Minneapolis-St. Paul’s first early-stage accelerator for Black, Indigenous, People of Color, LGBTQ, women and non-binary founders, to be successfully acquired by ConnectUP! Institute which was formerly a “competitor” of Lunar’s. She’s taking us on a deep dive into the world of nonprofit mergers and acquisitions🤝 This isn’t just a last-ditch effort when an organization has exhausted all other options. She’s sharing the strategy behind her acquisition decision, its immediate benefits to Lunar's communities and offering insights for nonprofit leaders navigating economic volatility. With a strategic approach, a nonprofit merger is an innovative approach to delivering more streamlined services AND funding vehicles to the community📈

💡Learn

An overview of nonprofit mergers + acquisitions
The value of strategic planning
Solutions to streamline resources

Today’s Guest

Danielle Steer, Founding Executive Director, Lunar Startups + Managing Partner, Tundra Ventures

“The wisdom is in your body, the wisdom is there.”

— Danielle Steer

Episode Transcript

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Episode Highlights

Danielle’s story and journey to where she is today (5:00)
Lunar x ConnectUP! Merger (20:00)
Strategic Planning (44:00)
A powerful moment of philanthropy in Danielle’s life (45:00)
Danielle’s One Good Thing: Is there a better way? (49:15)
How to connect with Danielle (50:55)

POWERFUL QUOTES

The reality is we will all be better off when more women have financial independence, and when women are controlling more capital." -Danielle

"If you need money, ask for advice. It's a very effective strategy." -Danielle

"We have to be responsive in this economy, which is changing rapidly. We need to think about our long-term sustainability, the wellness of our staff, and the wellness of our entrepreneurs." -Danielle

"The reality is, so many nonprofits get started because the other folks in town were not doing the things that I thought were necessary. But eventually, we would have to come together in terms of shared alignment or mission." -Danielle

"Your job as an entrepreneur is to collect noes and then use those noes as learning for how to get to yes. Every no is a step closer to a yes." -Danielle

"If you're a development person or an executive director, your job is to collect 'noes' and then use those 'noes' as learning for how to get to 'yes.' Every 'no' is a step closer to a 'yes.'" -Danielle

"The wisdom is in your body, the wisdom is there.” -Danielle

"You can never accomplish as much as you think you can in a year, but you can do so much more in 10 years than you'd ever dream possible." -Jon

"I believe in the statement, 'I am enough,' but I always believe there's a better way." -Danielle