Business plans are significant for corporations and charities because they describe your organisation, your activities or even a specific project or campaign. This plan will help your team set goals, execute programs, manage finances, be aware of the risks and understand your market better to get a social and financial return.
For charities, you may need to develop a business fund if you’re trying to secure funding, building a new organisation or if you’re beginning to trade in an existing organisation. Doing this will help you execute your business ideas and help you achieve your charity’s objectives.
However, some organisations aren’t sure how to start creating their business plan or feel quite intimidated about the framework. Fortunately, you can opt to purchase business plan writing services to ensure that you’re formulating the right strategy and taking the necessary steps to create an effective plan.
If you’re starting to build a business plan, keep reading. This article is our ultimate guide to help you create a business plan for your charity. Let’s get to it!
1. Summarise the key points of your business plan
Before creating a more detailed plan, it’s best to make a summary of your overall business plan. You want to do this because some people, such as potential investors or partners, may only have time to read key points. For this reason, make sure your facts are clear, concise and packed with relevant information.
2. Fully describe your organisation
One of the essential parts of a business plan is the description of your organisation. When creating a business plan, ensure that you give details about your organisation and what you intend to do.
Usually, organisations include their vision, mission, values, and goals in the business plans to help clients understand who they are. Additionally, you want to have your organisation’s history, the current state of your team, legal status and the services you offer.
3. Show that you understand your market
An effective charity business plan shows clients that you have an understanding of your market and that you’re taking the necessary steps to deal with your market’s issues.
Ideally, you’ll want to describe your beneficiaries, stakeholders and donors in this section. Besides that, you’ll want to include data from your market research and analyses that will help your organisation move forward and hit your goals.
4. State your operational plans and the team behind your organisation
Another important element you need to include in your plan is to give your clients an overview of the operations of your organisation and team who helps run it.
This section could include the resources you use to run your business, your employees, partners and suppliers, equipment, legal documents, insurance and more.
When you talk about the people who are part of your organisation, ensure to include the biographies of your management team, trustees and an overview of any changes in your management’s structure.
5. Think about your social return
Besides the financial return, which could include your cash flow forecasts and income, you also want to include your organisation’s impact on the community, which is your social return.
This section gives a detailed description of the changes you want to make in your community, what and how you’ll measure your impact and your techniques in spreading the word.
6. Be transparent
When creating a business plan for charity, you must remain transparent and acknowledge the risks involved while executing your project.
These risks could include governance risks, external risks, compliance risks, financial risks and operational risks. After mentioning these risks, include ways on how you plan to manage and mitigate these risks and the effects it could have on your organisation.
Thankfully, if you purchase business plan writing services, a team can help you identify areas in your organisation that may be quite risky and help you develop remedies and actions.
Creating a business plan can be quite daunting at first, but if you work with an expert team who offers business plan writing services, you’ll be able to present your plan with full confidence, hit your goals and eventually help your community and cause.
Whether you’re a small business, a startup business, a nonprofit organisation or a global company, you’ll need a well-crafted and effective business plan to help you stand out in a competitive market. If you’re having trouble developing one, Business Plan Writers UK can help you. We offer business plan writing services, provide advice and even help source funding. Learn more about our services and give us a call today!