10/18/2016 0 Comments
Nonprofits thrive and depend heavily on individual giving. A strategic plan can help improve and expand resources for your agency. The strategic plan should do just what it says – plan out the strategy for your nonprofit.
A strategic plan is more than a business plan, which includes - company description, market trends, and competitors. The strategic plan is the way you will attack and take action on where the agency is to where you want it to be. The strategic plan outlines potential partnerships with those in a similar industry that fill the gap of service your agency does not provide. Involve your millennial staff, volunteers, or junior/advisory board. Let them take part and include them in developing the strategic plan.
For instance, if you are the local food pantry and those in need of items must come on site to collect food and there is a local meals on wheels that delivers food to families in need - a partnership can develop where you can continue to provide food to your group as well as get meals to immobile individuals or those lacking transportation. Include these potential partnerships in your strategic plan. It is a plan of attack to form these partnerships to provide excellent service to your target group. Millennials can highlight an area where a need is great to help your agency come up with a plan to serve a need in the community.
So how does a business or marketing plan differ from a strategic plan? A business plan lists company description and marketing trends. A strategic plan discusses what specific activities your firm will tackle over the first 6 -12 months up to 5 years to market the services so that all staff, board members, and executives are on the same page.
In this table, you will see components of both a business plan and a strategic plan to better understand the difference. As with any given plan, they vary. But here’s an outline of the two side by side:
Strategic plans are for agencies that want to grow. Millennials are attracted to growing, thriving, life-changing experiences for themselves or people that your agency serves. Unlike a business plan you’re not just building a case for the viability of your firm but you’re proving that you not only want to grow but have a strategy laid out for the next 5 years on how your nonprofit will continue to flourish. Stakeholders are most serious about organizations that have a strategic plan than those that do not. Millennial engagement does not always have to be a social media strategy; your nonprofit can begin creating long-term relationships with the next generation while including them and partnering with them on the strategic plan.
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