Thanks to Jeff Wilcox and Third Sector Company!
As part of MAMSSM’s curriculum, our various community partners come in to give us their insights on their careers. This week, we had the opportunity to sit down with Jeff Wilcox to get an in depth look at his role in the non-profit sector. Jeff is the president and CEO of The Third Sector Company, Inc.
MAMSSM strives to give students many insights into the extraordinary ways a business can do social and environmental good for the community. Many of us may go on to pursue careers in non-profits. Jeff provided us with a well-rounded approach to identify the strengths of businesses in this sector. He stressed to us that it is important to separate the word “non-profit” from the actual context of the business. This has become a blanket term that is now more associated with businesses being against profit than ones who are concerned with helping others thrive.
“The non-profit should really be referred to as a social benefit corporation, one that seeks to develop the strengths of people,” Jeff said. He elaborated on what a business model for a non-profit business should include. This model must be one that incorporates a relatively standard business model with a logic model and ethics. The intersection of these produces the purpose of the business. Every business should begin with a common set of values amongst its contributors. These values should reflect a mission. This mission should address why the business exists. A solid business model must also reflect goals for success, pathways to achieve success through strategy, and the development of leadership among all contributors.
Our brown bag sessions are just another way that our program fosters relationships with our community partners and each other. We are looking forward to more time with Jeff Wilcox and others as our year progresses!