Ask Entrepreneur

How can I switch to the non-profit sector?

I have a business that I'm no longer interested in running and wish to start a non-profit business. What will be the cost and how do I go about starting it up? I will incorporate in the near future.
A lot of people in for-profit enterprises are looking at the non-profit sector nowadays based on the current economic climate, but you need to look at your non-profit venture the same way you would look at a for-profit venture. The only difference is that instead of increasing your revenues, you are looking to increase donations.

You still need to see if your idea is a good fit in the marketplace, if there is a need for your idea, and you need to have a plan to generate donations, as well as a plan for delivering your service to your audience, or client.

We’ve recently developed a new initiative called Coaching for a Cause, designed specifically to help non-profits think, plan and act more like for-profit businesses.

Why? Because unless you develop a "for-profit" mindset--no matter what type of "business" you are in--you won't be successful, or as successful as you could be.

Share Your Thoughts

Today's Editor's Picks

About ASK ENTREPRENEUR

Ask Entrepreneur is a question-and-answer forum for and by the Entrepreneur.com community. Send in your burning business question, or comment on someone else's now. Have a Question? Ask Now

Topics (over 1000+ answers)

Ask Entrepreneur Q&A Hangouts

Google + Hangout With Shark Tank
Google + Hangout With Jason Falls
Google + Hangout With Angela Jia Kim
Google + Hangout With Grant Cardone

ASK Quick Tips