Getting Grants and Financial Resources: Creating a Business Plan
Learn how a business plan will increase your likelihood of success and should convince potential supporters that the current leadership can carry out the plan.
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WHAT'S THE CONNECTION BETWEEN BUSINESS AND COMMUNITY DEVELOPMENT?
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WHAT'S A BUSINESS PLAN?
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WHY SHOULD YOU MAKE A BUSINESS PLAN?
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WHEN SHOULD YOU MAKE A BUSINESS PLAN?
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HOW DO YOU MAKE A BUSINESS PLAN?
WHAT'S THE CONNECTION BETWEEN BUSINESS AND COMMUNITY DEVELOPMENT?
Although your primary goal is improving the community rather than making a profit, "business" can still be important to your work. Even non-profit organizations need resources to sustain their work, and business operations can be a good way to acquire those necessary resources.
Your business operations usually involve the things you sell. Those "things" can be products - actual goods - or they can be serviced. Below are some examples of each.
ProductsServices
Books, or bookletsChild care
Crafts (homemade)Food delivery (from supermarkets)
Flower seeds, or flower gardening/landscaping, yardwork
Greeting cardsHousing, or space rentals
T-shirtsRecreational programs/camps
But is it ethical for us to sell products and services?
Yes, if it is done honestly, openly, and fairly. What is sold should be of high quality and good value, fairly advertised and delivered as stated.
And selling products and services can be more than ethically permissible. It can be the ethically responsible thing to do if you are selling something that people need, and that will actually help them.
And is it legal?
Yes, in a great number of cases. Here's a key fact:
A nonprofit group can make a profit. Of course, the selling of products and services must comply with local laws and regulations. It's up to you to know what those laws and regulations are where you live.
Does this mean all nonprofit groups should go into business?
No, not necessarily. There are other ways to pay expenses and to ensure your financial sustainability. Among them are grants, fund-raisers, membership dues, and in-kind support. Your decision about going into business should depend upon what funding you need, what you have on hand, what funding options are available to you, and what your prospects for success are in each case.
To plan for your overall financial sustainability requires an overall financial plan, and if business operations are part of what sustains you, then you will also need a business plan.
WHAT IS A BUSINESS PLAN?
A business plan is a written document that describes in detail what kind of business you intend to operate, how you intend to operate it, and why you believe it will succeed. It is backed with logical, factual and financial documentation.
WHY SHOULD YOU HAVE A BUSINESS PLAN?
- Setting your thoughts down on paper, and forming a plan, will clarify your own thinking
- Your business plan will raise confidence in your business ventures among members of your own group and among potential outside backers
- A business plan will increase your likelihood of business success
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