Nonprofits are businesses, too

business plan (Photo credit: Wikipedia)

It's not exactly a popular notion, but it's true. Nonprofits are different, yes, but they are also like any other business. Money comes in and money goes out and it must be managed in between. Missions are essential to both, though maximizing value for owners applies only to one. They are also both dependent on their people.

The truth is, though, many

people who come to run nonprofits are more engaged by the mission of the organization than the day-to-day needs of the operation. Finding good people to fill in where they lack essential skills is critical for any leader and it's especially important at a nonprofit. Regardless, the business operations can't wait.

At the top of the list of needs is a solid business plan to guide the operation and identify where additional attention must be paid. We will examine how to develop this business plan in my next blog.