The Importance of Writing a Business Plan for your Nonprofit

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Image via lucycrystal.com.

Via @bplan

If you think that only profit generating businesses should have a proper business plan, you are wrong. Non-profits, with their unique setup, do need a business plan if you are to be successful in your efforts to make a difference, whatever your cause.

Many founders of non-profit organizations barely bother to register their NPO, much less take the time to compile a business plan. However, having a business plan will give you the opportunity to get an overall view of the exact direction your non-profit is moving in. You can clearly envision your goals, target your weaknesses and get a realistic idea of your donor base.

Generally a business plan includes the following information [BPlan]

  • Executive summary
  • Objectives
  • Mission
  • Keys to success
  • Organization summary
  • Services
  • Market Analysis Summary
  • Strategy and Implementation Summary
  • Management Summary
  • Financial Plan

As you can see it provides important details that one so often overlook, especially when you want to establish a non-profit.

Having a written business plan will give your NPO a head start and can guarantee long-term success; even if you don’t think it is necessary.

Benefits, amongst others are:

  • Sponsors will take you more seriously. When asking for a grant, you need to make the right impression and a properly compiled business plan shows off your professional approach to your non-profit.
  • Should you apply for a loan; the bank will be more generous and willing to approve the financial assistance requested if you can provide your business plan.
  • Donors in general will appreciate your attention to detail and will be more likely to offer their funds or services to help your cause

Compiling a business plan need not be a difficult, time consuming process.

Bplans.com provides a variety of business plan samples for every conceivable type of business or non-profit you may have in mind. You can download your choice and use it as example to write your own.

Alternatively follow the link on Bplan’s pages and try out LivePlan. With LivePlan you can create your own business plan online.

Whether you are an established NPO or just starting out, you can benefit from writing a proper business plan for your organization. It is NEVER too late to introduce an air of professionalism into your org.

Start now. Click here to visit Bplan and compile your business plan.

SOURCE:

BPLANS.  Free Non-Profit Sample Business Plans.  [Web:] www.bplans.com  [Date of Access:] Oct 13, 2016.

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