Starting A Nonprofit Basics: A Business Plan

Starting a Non Profit Denver COHere is what you need to know about your business plan when starting a nonprofit.   

When you start a business, you likely have a lot of ideas floating around in your head. By creating a business plan, you can capture all of your thoughts in one cohesive vision for your organization. As a nonprofit, a business plan is particularly important because it presents the canvas across which you can paint both your logistics and the impact you hope to make. Here’s a quick look at the different aspects your nonprofit business plan should include.

  • Executive Summary: Here, put your mission statement, describe your needs for board of directors and staff, summarize your market research, name your sources of funding, and list the services or products you’ll be offering.
  • Services/Products: Describe the product or service your nonprofit will be offering and how you envision that product or service impacting your community or the world. Explain why your product or service is necessary.
  • Operations: Name your business location, write out your organizational chart include profiles for the most important staff roles, delve into your plans for marketing and sales, and write out plans to handle inventory, equipment, etc.
  • Financials: Explain how your nonprofit will be funded. List investors, loans, and grants on which you will rely to pay your staff’s salaries. Create an annual budget that outlines anticipated revenue and expenses, showing that you have enough money coming in to cover the cost of running your nonprofit.

As you start your nonprofit, it’s important you get the right business insurance for it. With the right coverage, you can rest easy knowing that you have a financial buffer against unforeseen expenses. To talk to the Colorado nonprofit insurance experts, contact Colorado Nonprofit Insurance Agency in Denver today.