Venture Forth! The Essential Guide to Starting a Moneymaking Business in Your Nonprofit
Organization
By Rolfe Larson; 256 pages; published by the Amherst H. Wilder Foundation
For many nonprofits, keeping things running smoothly and effectively is a
full-time job. So, the thought of adding a for-profit venture to the mix might
seem like madness. However, some organizations have discovered that operating
a related business is a viable, and often profitable, way to generate more
revenue for their mission. It might sound too good to be true, but it can
be done, and Venture Forth! is the perfect guide to take you through
the process. With twenty years of experience as a venture manager and consultant
for nonprofit organizations, Rolfe Larson offers a practical step-by-step
approach that will assist groups in deciding whether a business venture fits
into their organization, and which proposed businesses are feasible.
The book is broken down into seven steps, taking the nonprofit from the initial planning stage - suggesting the idea of a for-profit venture to the board - right through to preparing the business plan. Areas covered include conducting a venture audit to identify core competencies and core customers, brainstorming and screening venture ideas, doing feasibility market research, and preparing a financial analysis. Throughout the book there are helpful tips, real-life case studies, task checklists, and timelines to keep organizations on track during the whole process. Also included are blank worksheets that can be filled out during each step, and which together form the bulk of the business plan.
Larson's knowledge and expertise, coupled with the many useful features of
this guide, make it an indispensable resource for nonprofit managers and board
members who are considering a business venture. Organizations that already
operate a for-profit business will also find the steps useful for evaluating,
expanding, or improving their current offerings. While nothing can guarantee
the success of your venture, the honest and realistic approach in this book
will ensure that you start off on the right foot.
Buy the book:
Canada: buy through Amazon.ca: CDN$46.91
International: buy through Amazon.com: US$30.00
