Are you ready to start a new nonprofit? You may have the right motives to do so. But you also need to have practical skills. If you’ve never done anything like this before, it’s a good idea to get all the aid and counsel you can from the experts. Here are 5 things you need to know before you start a nonprofit.
1. Make Sure You Put in the Research
Before you start a nonprofit 501(c)3, make sure that you put in the research. You need to know exactly what kind of niche you desire to fill. You will also need to be sure of the kind of people that you want to work with. It also helps to know exactly what kind of structure you want your nonprofit to follow.
2. You Need to Emphasize Your Values
Another important thing to keep in mind is that you will always need to put your values first. With all of the time, effort, and expense that it takes to start up a strong nonprofit, you may get caught up in the process of building your foundation. A sense of mission creep is the danger that could all too easily set in at this point.
You will need to stay strong and focused on your goal. Whatever the reason for starting your nonprofit may have been, you need to always keep it uppermost in mind. This will help you sail easily through a lot of red tapes and waiting. These are the side effects that are bound to come as you navigate through this start-up period.
3. Choose the Best Name for Your Nonprofit
The next thing you will need to do is choose a name for your new nonprofit. This needs to be a name that accurately and expressively states the goal that you have in mind. It needs to be short, snappy, and effective. The more it meets these criteria, the more easily it will be to remember. Keep it straight to the point and memorable.
Make sure to check the national domain registry in order to be certain that your name isn’t already in use or being reserved for use by someone else. This will save you a good deal of wasted effort, embarrassment, and potential legal action. The name that you do choose should be original, catchy, and reflective of the goals you have.
4. Name the Members of Your Board
The next thing that you will need to do is name all of the members to your nonprofit board. These are the people who will help you launch and then run your nonprofit. You need to be very careful about whom you name to your board. They should be experienced in all of the various aspects of a nonprofit organization.
The members of your board will help sustain you through rough times. They will also help you to capitalize on the good breaks that come your way. Most of all, your board members will help you to stay focused on achieving the goal that you have set for yourself. They will be the ones you rely on to help you reach even greater heights.
5. Identify Your Sources of Potential Revenue
The last thing you will need to keep in mind is to make sure to always be on the lookout for sources of potential revenue. These could come from a wide variety of areas.
Your potential sources of revenue could be state and Federal government grants. They could also take the form of donations from private individuals or companies. You can also take in a fair amount of revenue from the fees that you charge for various services you offer to your contributors.
The Time to Build Your Nonprofit is Now
Now that you have a better idea of what to keep in mind as you build your nonprofit, the time to get started is now. This is a process that can be as long and tedious as it will be exciting and rewarding. You will need to keep your eyes on the end result. This will be the prize that awaits you when you finally succeed at meeting your goal.