The first piece of advice is to anticipate financing the start-up of your company with personal funds. It's highly likely that you won't be awarded grant funding during your first two years in business. The days of getting a grant simply because you have a great idea are long gone. Today, funders want to see two years of measurable outcomes before they even consider your application. Businesses start and fail every day. If you can prove that your company has longevity, can generate a surplus, and can make a positive difference then you're a excellent candidate for a grant award.   

The second piece of advice is to write a business plan. The cliché if you fail to plan, you plan to fail is very true, especially for nonprofits. As a registered tax exempt organization you must operate within certain IRS tax laws. Not only is the business plan a way to help you stay compliant, it details your plans for recruiting partners, board members, donors, and volunteers.  It is the document that describes the course of action to reach your goals. Trying to manage this information in your head is a recipe for mental illness. To read the full article, click here.
 

Chataun R. Denis