|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dear “Revenue Generation” Colleague, Some organizations look beyond traditional fundraising activities and by exploring revenue generation activities – i.e., fees for service/products, creating a for profit business endeavor, etc. The majority of revenue generation initiatives tie their ventures to the mission of the related social profit according to a recent study performed by the Yale School of Management. Nonprofit organizations can experience bottom-line benefit and serve their constituents at the same time. A successful for profit venture can have a positive impact on an organization’s reputation, mission, service delivery, self-sufficiency and its ability to attract and retain donors and staff. Read the stories below to determine if starting a profit-making business has some potential for your program:
Do
you have questions about revenue generation and your program? Contact
us through LEADline@CampaignConsultation.com.
Learn if Revenue Generation is a Fit for Your Program Nonprofit managers may not imagine themselves as profit-making entrepreneurs. Running a business is challenging and often risky. If you can answer “yes” to all the questions below, your organization may have the key ingredients to pursuing earned revenue successfully.
If you answer “true” to any of the questions below, an earned revenue venture is riskier. Ventures are likely to be a poor fit for your organization right now. What steps can you take now to build capacity within your organization and recruit supporters for entrepreneurial activity?
Tips on Starting a Profit Making Endeavor If your program is a candidate for a revenue generation initiative, incorporate the discipline of careful thought and planning. Research will help you learn how to write a comprehensive business plan, assemble adequate start-up funding, select appropriate legal advice, etc. Click here for more resources and directional support. A Revenue Generation Success Story Click this link to read the success story of how youth in Indian Country established and run a dynamic revenue generation initiative in a remote area of Utah, where the poverty rate is more than 40%. Let us know Does your organization run a profit making business, or do you have insights to share about running a business along with your nonprofit? Contact
us at LEADline@CampaignConsultation.com Thank you for your interest in On-The-Go eTA. We encourage you to send this and other issues of OTG eTA to friends and colleagues who would benefit from the information. Also, if you’re on information-overload, you may request email removal. Otherwise OTG e-TA will be back soon with another edition.
| IN
THIS ISSUE:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
     |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Details from above: Tips on Starting a Profit Making Endeavor (Cont.)
The
Story of… Although initially wanting to earn enough money to go to the movies, Native American youth living in San Juan County, Utah, widened their business plan focus to include earning income to purchase bicycles, computers, printers, phones and internet service for other young people in need of transportation both by land and air. After much research, the children chose to start a chocolate business that involved making native design chocolates. Lickity Split Chocolate Studio, LLC, a profit-making limited liability corporation was formed. Parents were asked to be company owners and family and other community members provide support in meeting heavy production demands. All of the profits of the business go to the Lickity Split kids. The program benefits from the help of good community/Tribal support, a few volunteers, and a dedicated VISTA worker. The youth are able to participate in Lickity Split only if they sustain a grade point average of at least 2.5. To assist in achieving academic success, each Lickity Split kid has a computer to help with schoolwork and community volunteers tutor each student two days per week. In addition to growing academically, the kids are becoming competent business professionals. They manage the business on Fridays after school and on Saturdays. They are on the board, make key decisions and help develop policy. They create new products, make customer contacts, conduct staff meetings, attend trade shows, speak at conferences around the country, and even balance the company books. They can calculate the cost of labor, materials and overhead. The company is growing. The business has been strongly supported by tribes across the nation. The Jicarilla Apache Tribe has asked the kids to set up a branch of their business at their headquarters in New Mexico and they have acquired a retail store on Main Street in Blanding, Utah that will open in November. There are plans to open a café in the near future. The youth will be using their expertise to train adults to make chocolate and to run a business. The community supports the business and the business provides much needed economic support in the community. Recently the kids were recognized at a national economic summit conference held by the National Center for American Indian Enterprise Development and received the Youth Entrepreneur of the Year Award presented by the U.S. Small Business Administration. To learn more about the company and take a look at their products, go to www.lickitysplitchocolate.com.
The National ASK (Awareness, Skills, Knowledge) to Sustain Institute, sponsored by Corporation for National and Community Service, provided by Campaign Consultation, Inc. 1998, 2002 The CNCS Resources Now! National Institute, sponsored by Corporation for National and Community Service, provided by Campaign Consultation, Inc. 2005-07. Enterprising Nonprofits: Revenue Generation in the Nonprofit Sector. Cynthia W. Massarsky and Samantha L. Beinhacker, Yale School of Management-The Goldman Sachs Foundation Partnership on Nonprofit Ventures
Learning Products and Services
Let us know by contacting us through LEADline@CampaignConsultation.com
|
|||||||||||||||||||