The “new normal” for strategic planning engages the staff and board in defining strategy, committing to measurable goals, approving strategic objectives as well as practical and realistic implementation plans, and on an ongoing basis revisiting the strategies as the organization's internal and external environment changes. For information and assistance with strategic planning, contact your state association of nonprofits.
Why should nonprofit organizations plan? (BoardSource)
At the start-up phase and periodically during the ongoing life-cycle of a nonprofit, boards and staff may want to engage in “business planning” as an exercise to analyzes the anticipated financial support needed to fulfill its strategic plan and remain sustainable.
Nonprofits with a business plan that anticipates potential fluctuations in revenue are generally better able to weather the storms of economic upheaval. The following business planning resources offer strategies nonprofits can use to reduce their susceptibility to the negative impact of economic downturns.
Additionally, some nonprofit business plans address risk management (What if the planned activities fail or the environment changes dramatically? What is your Plan B?)
Are you ready for the sudden loss of revenues or your nonprofit’s inability to conduct programs because of a weather disaster or other unexpected reason?
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