{"id":16069,"date":"2021-12-27T09:50:00","date_gmt":"2021-12-27T14:50:00","guid":{"rendered":"https:\/\/www.grantwatch.com\/grantnews\/?p=16069"},"modified":"2022-12-20T02:25:27","modified_gmt":"2022-12-20T07:25:27","slug":"national-write-a-business-plan-month","status":"publish","type":"post","link":"https:\/\/www.grantwatch.com\/grantnews\/national-write-a-business-plan-month\/","title":{"rendered":"8 Tips for National Write a Business Plan Month"},"content":{"rendered":"\n

National Write a Business Plan Month in December encourages anyone thinking about starting a business, including a nonprofit, to start with a plan. Have you ever thought about starting your own business or nonprofit but are not sure about what steps to take? If you are not quite sure how to put together a business plan, you are not alone. It takes a bit of time and hard work, but if it is done right, it is an amazing tool. <\/p>\n\n\n\n

8 Essential Elements of a Great Business Plan<\/strong>:<\/h4>\n\n\n\n
  1. Executive Summary<\/strong>–\u00a0This included your business\u2019s profile, mission, and how you plan to get there.<\/li>
  2. Market Analysis-\u00a0<\/strong>This part involves thorough research on the industry of your business. It\u2019s the quantitative and qualitative assessment of your market.<\/li>
  3. Company Description-\u00a0<\/strong>Explains what your company does, your target audience and what differentiates you from others. <\/li>
  4. Management and Organization<\/strong>–\u00a0Discuss who is in charge, how many employees you wish to have, and the basic workflow.<\/li>
  5. Marketing and Sales<\/strong>–\u00a0How do you plan to promote your business and make sales?<\/li>
  6. Services and\/or Products<\/strong>– Talk about what you\u2019re selling or what services you offer, and who they will benefit. Go into detail about these products or services.<\/li>
  7. Request for Funding<\/strong>– When requesting funding, mention how you plan to access those funds.<\/li>
  8. Financial Projections<\/strong>–\u00a0In this section, provide financial projections for 3-5 years. How much you plan to spend, earn, and what your profit is expected to be.<\/li><\/ol>\n\n\n\n

    Business plans help to assist businesses (small and large), so they can stay organized, prepared, and have a company that runs smoothly. Every business needs a business plan. It is a great step in the right direction when it comes to creating your own company. Whether you want it to be your livelihood or just a side gig, putting together a well-researched and detailed business plan will make your life a whole lot easier in the weeks to come.<\/p>\n\n\n\n

    What Kind of Business Is a Nonprofit?<\/strong><\/h4>\n\n\n\n

    A non-profit business, also known as a not-for-profit organization, is a tax-exempt organization formed for religious, charitable, literary, artistic, scientific, or educational purposes. It is an incorporated business from which its shareholders or trustees do not benefit financially.<\/p>\n\n\n\n

    A nonprofit organization exists to provide a particular service to the community. The word “nonprofit” refers to a type of business \u2014 one which is under rule that forbids the distribution of profits to owners. Your nonprofit organization also needs a business plan if you plan to secure support of any kind, be it monetary, in-kind, or even just support from volunteers. You need a business plan in order to convey your nonprofit’s purpose and goals.<\/p>\n\n\n\n

    Startup Funding<\/strong><\/h4>\n\n\n\n

    You may have heard about startup funding – and yes, it is available. However, it is only for specific industries in specific locations. View the current funding available to startups<\/a><\/strong> and entrepreneurs<\/a><\/strong> on GrantWatch.com<\/a>. <\/p>\n\n\n\n

    If you are not already an active MemberPlus+ user with GrantWatch, you will need to purchase a subscription<\/a> in order to view the full grant details, including the eligibility criteria and RFP application link. >> Click here to learn about the free trial<\/a> that is available.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    National Write a Business Plan Month in December encourages anyone thinking about starting a business, including a nonprofit, to start<\/p>\n","protected":false},"author":20,"featured_media":16072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sb_is_suggestion_mode":false,"_sb_show_suggestion_boards":false,"_sb_suggestion_history":"","_sb_update_block_changes":"","_is_real_time_mode":false,"_realtime_collaborators":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[138,147],"tags":[],"class_list":["post-16069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-latest"],"yoast_head":"\nWe 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You just need to know where to\u2026","rel":"","context":"In "Latest"","block_context":{"text":"Latest","link":"https:\/\/www.grantwatch.com\/grantnews\/latest\/"},"img":{"alt_text":"How-do-I-start-a-nonprofit-with-little-money","src":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2023\/07\/How-do-I-start-a-nonprofit-with-little-money-V2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2023\/07\/How-do-I-start-a-nonprofit-with-little-money-V2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2023\/07\/How-do-I-start-a-nonprofit-with-little-money-V2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.grantwatch.com\/grantnews\/wp-content\/uploads\/2023\/07\/How-do-I-start-a-nonprofit-with-little-money-V2.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":27513,"url":"https:\/\/www.grantwatch.com\/grantnews\/what-are-7-common-startup-costs-for-nonprofits\/","url_meta":{"origin":16069,"position":3},"title":"What Are 7 Common Startup Costs for Nonprofits?","author":"Mel","date":"May 30, 2023","format":false,"excerpt":"Are you or someone you know considering taking the plunge to start a nonprofit? 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This is a question we often hear from folks just starting out with their nonprofits. The answer, of course, is yes. Even if you're running a nonprofit, you still need a solid, working business plan. 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