Starting a non-profit is no easy feat, but there are a few key tactics to remember when you’re getting started with the journey. As long as you stay committed to the process and implement these tips, you’ll be able to help many people through the work you do with your non-profit.
1. Find a cause.
Going into the non-profit sector is truly a selfless work. It’s beautiful to have the desire to help others. However, there needs to be a cause. Figure out what the burden on your heart is. Once you’re clear about the gap you want to fill and the people you’d like to serve, do research to find out more about the needs. Do research to find out about the other non-profits that are working to fill the same gap. Take notes of what they’re doing that works. Also, it’s good to strategize and figure out what will make your company unique.
2. Strategize income streams.
A non-profit is definitely different from a for-profit company. However, it is so important to find solid income streams. Most successful non-profit companies are intentional about creating income streams. When television personalities want to bring awareness to a specific cause, they’ll sometimes create movies or throw fundraising galas to raise the money. You can invite different business professionals and colleagues to become donors. Businessmen like John F. Malloy have been honoured as donors at different non-profit events. When you develop partnerships with powerful people like John Malloy Victaulic, this is the chance the widen the net and help more people with your non-profit’s efforts.
3. Get a board of directors.
Take inventory of the people in your life. Think about any of your colleagues who are astute in business. When you’re creating a board, make sure that you look at creating one that’s well-rounded. If your non-profit focuses on helping children in inner-city schools, you might want to consider asking a few teachers to be on the board. It would be wise to have a few social workers and a lawyer on the board as well. When many people think about a board of directors, they think of CEOs and financial analysts. While these fields have people who can help you, you want to consider different perspectives from people in other fields as well.
4. Get registered.
Make sure that you fill out the proper paperwork and file the right information that your state requires. It’s always best to make sure that your business is properly registered and recognized so that when you want to conduct business, you’re doing so in a way that’s completely legitimate and protected.
5. Create a written plan.
Consider what the daily operations will look like if this non-profit is a soup kitchen. If the non-profit gives out care packages on a monthly basis, consider where you’d store the goods. It’s so important to consider the little details of operations that many people tend to overlook. Once you consider these issues, you’ll be able to adequately do research.
6. Practice transparency.
Whether the company is for-profit or not, it’s always best to get into the habit of practising transparency. When you’re developing a non-profit where a lot of people will donate, donors want to know that their money is going to the right places. In many circumstances, people have developed a significant level of mistrust in non-profits because a lot of the money gets mishandled. It’s either that it gets mishandled or it goes toward covering overhead costs instead of going toward the actual work. You can be transparent by releasing quarterly reports and publicizing the financials of the company.