A woman’s decision to start her own business may come from a variety of reasons: the desire to be in control of her own life, the wish to have a flexible schedule, or the need to make a personal vision come true. Today, we see an amazing rise in the number of self-employed women – a 33 percent increase.
A conservative view on gender roles and duties still represents a major obstacle in a huge part of the world when it comes to female entrepreneurship. However, women’s business empowerment significantly contributes to economic well-being, and governments recognize and support the need for female entrepreneurship.
Today, it is a great time to become a female entrepreneur. Before starting your own business, consider founding a nonprofit organization as one the best solutions. That way, you will be able to meet both your own and your community’s needs – you’ll work on solving some important social issues and create new jobs at the same time.
It’s not easy, though. It takes vision, dedication, courage and a smart business plan. Read on to get some tips about starting your own nonprofit organization. Implement them and make a difference in your society!
There are 4 groups of nonprofit organizations: educational, religious, scientific and charitable. Approximately 50 percent of registered nonprofit organizations are tax-exempt charities. All these organizations have one thing in common – they take the profit they make and put it back into their causes and missions. Women`s Global Empowerment Fund, Action Against Hunger or Mater Foundation and their Mater Prize Homes draw are just a couple of fine examples of charitable nonprofit organizations.
We have already said that being passionate about your work is a good way to succeed. In order to do so – clarify your objectives and choose the ones which really suit your interests and knowledge. Then, these objectives will evolve into your organization’s mission which will define what you are going to do and what group of people is going to benefit from it.
Be very concise and clear in the defining so the donors and interested parties can get a clear picture of your business.
The most important thing your organization needs is a good team. Hire experienced mentors, advisors, board members and other experts with adequate skills and knowledge. The line of work that you do will define the set of skills and experience needed for the job.
Usually, you’ll need someone with a lot of knowledge of strategy, marketing and law. You don’t have to pay a lawyer – contact your country’s bar association and see if they can provide you with some free help.
Your board members should be people with a good reputation and rich experience in their field of work, whatever it is. The donors will be more likely to give money to organizations which have reputable members on their boards.
You will also need a good public relations strategy. PR and social media are key in achieving success, raising your organization’s visibility and funds. Make sure to have at least one person in the team that is specialized in this sort of work.
In order to succeed, you need to have a good fundraising strategy – this is crucial for the survival of your business. It would be wise to previously test it, along with the whole business model (identifying products, customers, funding, activities, etc.). Your earned income may be enough, but it’s good to have diverse funding streams.
Have in mind that there are nonprofit organizations that are mostly funded by donors. It is important to hire a person who has lots of expertise in this field of work and knows how to get grants from donors. Build a donor base, explore grants, attract new donors by throwing fundraising events (raffles, sales, parties, etc.) and seek local sponsors that will support your ideas.
At the beginning, your organization will probably have to rely on its own resources. Also, finding small, initial “seed” funds is important to get your organization going. To get to the big projects at all – you have to start with the small ones, with a modest budget on your hands. If your business plan is well designed, you will soon start earning money and begin making smaller investments.
Some donors and programs are intended for early stage ideas and young organizations, so make sure to apply for all the local and national grants that are suitable for your organization’s experience.