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Franchises

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.
- Guest Writer
Opinions expressed by Entrepreneur contributors are their own.
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.

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