Business Planning: Identifying Your Nonprofit’s Niche
“I caution you to make sure you know who else is out there doing a similar thing.”
This program was presented in collaboration with NYTAP (New York Technical Assistance Providers).
Many nonprofits are looking to develop earned income streams in a mission-centric way, either through social enterprises or profitable programs. Our presenters, Molly Penn and Deborah Flood from Penn Flood Consulting, start at the beginning by exploring the difference between a strategic plan and a business plan, and then walking through the elements of a sound business plan. Learn how to:
- assess and define the market for a business line
- quantify the market in terms of size, segmentation, etc.
- contextualize the market in terms of strategic business drivers or factors that determine stakeholders’ priorities and needs
The presentation also offers an overview on doing a competitor analysis, building a marketing plan, and developing financial projections associated with each of these components.