Starting and operating a nonprofit organization can be a challenging task especially for first-time doers. For your nonprofit venture to be successful, it may require some careful planning and execution steps just like an ordinary profit-making business. Most nonprofit ventures share many characteristics with other profit enterprises, of which is the need for formulating a good business plan.
Reasons for creating a non-profit business plan
It could be a donor, sponsor or some source of external funding requiring you to have a business plan. Whichever the reason is needing you to make one, your business plan for your nonprofit should be a successful venture. The following are some of the important key points to consider in your business plan.
The business purpose
It includes the reason for writing the business plan and the parties expected to be involved in reading and executing it. It is an excellent way to bring up a management system and bringing your boards team to work towards the organization goal.
Business need assessment
A nonprofit company performs needs analysis for the project. The need assessment is targeted at creating focus in the team and creating a common goal. It also helps in formulating financial plans for the organization. With proper market analysis, one ensures that the business is solving some problem in its venture.
An executive summary of your business plan
It should feature first on the front of the business plan yet last to be written. It is a brief overview of the whole business plan highlighting all important parts of the project. It is what a donor maybe or an interested party may peruse through to issue for funding. It summarizes the whole business plan into a short written segment easy to create the entire perspective at a glance.
Your products and services
Write about your free organization or nonprofit product offer(s) and its intention on the target. Details may include its specialty and what makes it great. In this section, you might be interested in bringing into attention your previous achievements, current products and services and future products you are yet to implement. Here you can highlight on your ventures strengths and weaknesses.