Begin with the End in Mind: The Importance of Making Decisions BEFORE You Start - Rich Haddad | Ep 21
Mar 13, 2024
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Learn from Rich Haddad about the importance of self-awareness and making decisions before starting a project. Understand community needs, grantmaking, and successful nonprofit strategies. Discover the power of pre-decisions to reduce decision fatigue and strengthen communities through financial stewardship.
Developing self-awareness is crucial for finding purpose.
Pre-decision making reduces decision fatigue and informs habits.
Understanding community needs requires engaging diverse groups.
Deep dives
Making pre-decisions reduces stress
Building principles and pre-deciding on key aspects of life can reduce decision overload and inform habits, disciplines, and decision-making processes. This approach can help in managing daily choices effectively and lead to a more structured and stress-free life.
Rich Hadad's role at K21 Health Foundation
As the head of the K21 Health Foundation, Rich Hadad oversees the management of funds from the proceeds of a local nonprofit hospital sale. With a background in corporate finance and a focus on financial planning, Rich's role involves investing wisely to sustainably give away funds in perpetuity in support of local health needs and opportunities.
The importance of being a good steward of funds
Rich Hadad emphasizes the importance of responsible fund stewardship in his role. The foundation is dedicated to giving money away wisely and efficiently managing its assets to ensure continual contributions to the community. Being a good steward involves making informed decisions in fund allocation and upholding the mission set by the original donors.
Engagement and impact in the community
Rich Hadad highlights the significance of engaging with the community and making a positive impact. Through grants and contributions, the foundation supports various projects, such as funding a new YMCA and fostering collaboration among health nonprofits. By investing in meaningful projects and maintaining strong community relationships, the foundation aims to address essential health needs in the region.
Finding purpose and inspiration through self-awareness
Rich Hadad shares insights on self-awareness and finding purpose through identifying personal motivations and interests. Reflecting on experiences and understanding intrinsic drives can guide individuals towards impactful roles and contributions in their communities. By aligning passions with opportunities that resonate emotionally, individuals can strive for fulfilling and purpose-driven endeavors.
This episode gives insight into the world of nonprofit leadership and strategic philanthropy through a conversation with Rich Haddad, who has stewarded over $80 million at the K21 Health Foundation for the past 17 years. Rich discusses the importance of self-awareness and pre-decision making in finding purpose and maintaining discipline. He also shares strategies for effectively understanding community needs, making grants, fundraising, and guiding nonprofit organizations to maximize their impact. Listeners will gain perspective on strengthening communities through financial stewardship, engagement, and the power of pre-decisions.
Takeaways:
Developing self-awareness of one's strengths, gifts, and motivations is important for finding purpose and fulfillment.
Pre-deciding aspects of one's life can reduce decision fatigue and help inform habits and discipline.
Understanding a community's needs requires looking beyond one's own experiences to engage diverse groups.
Defining goals and parameters in advance helps make grantmaking and decision-making more consistent and objective.
Building a strong board and engaging the community are important for nonprofit success.
Financial stewardship, when paired with engagement, can help strengthen communities in meaningful ways over the long term.
Resources:
Joe's Kids - A children's therapy clinic in Warsaw, Indiana that Rich has supported over 10 years
K21 Health Foundation - The private foundation that Rich has led for 17 years in Kosciusko County, IN
