When you prepare a budget, do you ever budget for #innovation? Do you think you need to? Well, we think you should. Having space to experiment and fail and holding yourself accountable to pursuing innovation are two critical building blocks to innovation. Having an infrastructure that allows you to do both will allow you to innovate.
Today’s Fast Build Friday topic is using your budget to strengthen your infrastructure. Nic discusses the reason why having an innovation line in your budget is integral to strengthening your infrastructure and creating transformational outcomes.
If you plan to give your grantees space to fail towards transformation or create new ways to amplify the voices of the communities you’re trying to pull from the margins, you need an innovation line in your budget.
Do you have an innovation line item in your budget? How do you create space to innovate and measure your progress? Let us know in the comments!
You can watch Episode 27 below.