|
Welcome to Vantage Business Support & Insurance Services
VANTAGE has been servicing the nonprofit industry for over 35 years. Over the years we have accumulated much knowledge, contacts and experience in helping to establish nonprofits and help them grow. As such, we will be publishing a semimonthly newsletter geared toward providing nonprofits with the latest news, products, and guidelines to assist in their success and growth. Please feel free to comment and/or request topics that are important to you for us to research.
Thank you for being a part of the VANTAGE family.
|
|
Please view our products list in the right sidebar.
This is just a sampling of what we feel would be important to you. We have much more to offer. If you have any questions or need more information please contact us at 877-886-8277 or click the link below.
CONTACT A VANTAGE PROFESSIONAL |
|
What is a Business Plan and Why Do I Need One for My Nonprofit?
 Nonprofits have a lot in common with a business, and managers of both must understand and follow a lot of the same practices. One of those is to have a business plan.
A business plan for a for-profit entity usually includes the following:
* Executive Summary. This explains very concisely and clearly what the business does or will do.
* Products/Services. What will be sold or what services provided? Who is the market? Why should your market use you rather than someone else?
* Strategy. How are you going to sell your product or service. How will you market it? How will you keep track of clients/customers? How will you grow the business?
* Operations. Where will your business be located? Will you make your products or purchase them from wholesalers? Will you lease or buy equipment? Hire employees? Partner with other businesses? How will you handle distribution? Inventory? How will you market your business?
* Financials. Where will you get the money to start your business? Will you pay yourself a salary? How will you pay for employees? What are your costs and income?
A business plan for a nonprofit organization might be set up like this:
* Executive Summary. Include a mission statement, description of the board of directors, types and number of employees needed, location and where services will be provided, description of those services, funding sources, summary of market research you may have conducted.
* Services or Products to be offered. Description of service or product, what problem do they address? What the objectives are for the services.
* Results of your needs analysis. Explain the documented need for your service or explain a new need you will address. Who else provides this service or a similar one? Who are your clients...who will you be helping? Where are they located? How many are there?
* Organization & Management. How will you organize? Create an organizational chart. Develop staff profiles for the major players such as the CEO and the program manager.
* Marketing and Sales Strategies. How do you plan to communicate to your target audience. Include an advertising plan and a PR plan.
* Financials. Where will you get the money for the startup? Grants, loans, fees? Prepare an annual budget showing revenue and expenses.
You can see how similar these plans are. You will need a business plan for your nonprofit to show to donors or foundations that may fund you, to potential board members so they know what they are getting into, and the plan can serve as a compass for your organization so that you don't get off track. A business plan is a living document and can grow and change as your organization grows, becomes more sophisticated and takes on additional challenges.
SOURCE: Joanne Fritz |
|
DISCLAIMER OF LIABILITY
Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
|
|
|
|
Nonprofit Products
|
VANTAGE has a wide range of products designed to sustain nonprofit success and growth. These products include:
Health Insurance Exchange
Group Medical
Group Dental / Vision
Business Liability
Directors & Officers
Errors & Omissions
Sexual Misconduct
Workers' Compensation
Employee Theft
Crime
Commercial Auto
Umbrella
Property
Product Liability
Start-up Assistance
Grant Request Preparation
Business Formation
Legal Assistance
Human Resources
Marketing
Business Planning
|
|
