If you've decided to start a non-profit organization, you've picked the right time. Non-profits are a thriving industry. However, because the industry is thriving, you'll have a lot of competition, especially in the beginning. That's why it's crucial that you hit the ground running as soon as you've formed your non-profit. Here are four steps you need to take now that you're planning to start your first non-profit.
Start With a Sound Executive Summary
When it comes to non-profits, the most important thing you can do is start with a sound executive summary. Your executive summary lays the groundwork for your entire organization. However, you don't need it to be as detailed as your business plan will be. Instead, think of your business plan as your first introduction to future investors. You want to have the meat and potatoes of what your organization stands for, how you plan to help the community, what you expect from your investors, and what they can expect in return.
Identify the Services You'll Provide
While you're preparing for the start-up of your non-profit, you need to identify all the services you'll provide. As you work to identify the services you'll provide, consider also the products you'll provide as well. These items will include those marketable items that you can use for fund-raising efforts.
Know Your Competition
If you're going to be starting a non-profit in your community, you need to know your competition. Spend some time investigating other non-profits in your area. This will allow you to determine if you're starting a non-profit that will become part of an already saturated market. The last thing you want to do is start a non-profit with built-in competition. If you do find that the market is already saturated, consider choosing a different non-profit, or put a new twist on your organization.
Have a Marketing Plan in Place
Once you have the details listed above worked out, you'll need to come up with a strong marketing plan. This plan should include all the details of everything you'll need to run your non-profit. First, you'll need to determine where you plan to locate your office. This information will help you lock down operational costs associated with rent, utilities and other expenses. Second, identify the initial supplies and inventory you'll need for your start-up. Finally, you'll need to identify your staffing needs. This should include your paid staff, as well as any volunteer staff you plan to utilize.
Now that you're planning your first non-profit, use the tips provided here to get things running smoothly. To avoid complications along the way, be sure to consult with an attorney service, like Legal For Good PLLC. They can help you avoid complications that may threaten the stability of your new non-profit.