Working for a nonprofit may not be the career goal of most MBAs. However, Melbourne entrepreneur Jude Newton says it should be. Here’s a closer look at his argument, as recently reported by BusinessBecause.
From Finance to Philanthropy
After first working in finance for the National Australia Branch, Jude Newton decided to pursue an MBA. But he also used his time in business school to do something else: Along with four friends, he co-founded Third Man Up, a non-profit company that raises funds for charities by organizing social and sporting events aimed at supporting the wellbeing of Australia’s youth.
“We understand that it’s not easy growing up, and it’s important to have the right support around you,” he says. “That’s why we’re backing these charities, to help out our current generation, and any future generations to come.”
Why It Matters
According to Newton, the skills he and his partners bring to the table are essential. “A lot of charities that we have come across currently rely too heavily on government grants, which makes forecasting and planning difficult. These companies need to act more like for-profit businesses in order to bring in more revenue, which can only be done by those with a strong business acumen.”
Furthermore, Newton says, many charities fall short of their goals due to public misperceptions about whether they’re dollars are actually going to the cause or to administrative costs. “There is also a lack of awareness of such conditions, and people are less likely to seek help. This is a stigma that we are hoping to change through the events that we host.”
For MBAs looking for professional growth, meanwhile, working at a nonprofit is a win-win -- especially when it comes to developing leadership skills. “[Starting Third Man Up] assisted me a lot with thinking holistically, and helped me work with different people in the group, learning to adapt to how to operate.”