Most people prefer “doing” to “planning”. Be aware, a great idea is not enough to start any business. Your foundation team, potential clients, members, donors and staff members will raise important questions and you will have to deliver the convincing answers in order to get them into your boat. Your business plan is the compilation of these convincing answers - once established it will serve you in many important situations!
Do a complete written business plan before you go ahead with starting-up your institution. After having gone through the very important reflection process, your business plan will be the backbone of your operations. You need to review it regularly - at least once a year!
Note 1 Why business planning is a “must”
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It is the leading guide to help the foundation team to raise and answer the right questions |
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It is the convincing argument to potential donors & members why they should support you |
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It is the illustration of your professionalism and know-how to any potential client or supporter |
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It is the basis information for any fundraising proposal/document |
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It is the basis for financial management of the institution |
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It is the attachment to audit or donor reports |
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It is the strategic direction for staff & volunteers |