ELON MUSK’S 10 STEPS GUIDE TO WRITING A NONPROFIT BUSINESS PLAN

 

Elon Musk’s Guide For Nonprofit Business Plan

 

Space X, Tesla, Boring, Neuralink…

The mastermind behind these corporate giants – Elon Musk, surprisingly had no written business plan for the dropped bombshells. But with a little luck, endurance, and strategic planning in his head, he succeeded. Indeed, luck plays a far greater role in the success of a business than we ever realise, but we cannot leave too much to the fortune’s wheel.

Consequently, if you have got a big idea and you want to get your nonprofit business started right away… Not so fast! You need a nicely written nonprofit business plan. Believe it or not, it is nearly impossible to gain momentum without comprehensive planning and preparation. However, if you have mastered the skills, you can then break the rules… sometimes!

Although Elon Musk is not a big fan of business plans – but to mark new milestones, he has put forward a step by step business writing guide to help you craft a strong plan.

So, before setting your fingers to the keyboard, let’s take a walk through the most important aspects of tackling the entire writing process – with pretty clear explanations along the way.

First and foremost, let’s start with the definition of a business plan.

Nonprofit Business Plan is the Narrative of Your Success

A business plan for a nonprofit is exactly similar to that of a profit-making company!

Think of a business plan as a story (it will help someone make sense who is not intimately familiar with a not for profit organisation); it clearly defines how the company will generate revenue and the capital structure. Above all, how will the company manage expenses with the inevitable change in the internal and external environment?

The plan addresses the everyday cost needed to operate the organisation and the expenses specific to the nonprofit’s unique programs and activities. Another important aspect of a nonprofit business plan is the competitive analysis that describes what other entities offering similar services have contrasting. Simply put, a business plan sets the stage for ultimate success of the business.

Hence, before soliciting donors and printing out flyers, take the time to learn how to draft a well-researched business plan.

1.      It is Not about Money Every Time

It is absolute central to Elon’s attitude to business. He was of the view that money does not matter every time. Before establishing Tesla and SpaceX, he was unsure how much money he would make out of it. Similar is the case with nonprofit organisations – here, enthusiasm and passion can easily get you so far. Hence, while preparing a business plan for such an organisation, don’t forget to mention the charitable purposes you will spend the gathered money on.

It is the only way to facilitate fundraising…

2.      Mind Your Audience

Indeed, not everyone who reads the business plan will be as knowledgeable and experienced as you are. Therefore, avoid using acronyms, jargon, complex phrases, or unfamiliar words which are difficult to comprehend. Write in simpler terms that your audience can grasp… it must be easy to skim, too.

Composite words and longer sentences will make your readers get off the track.

3.      Keep It Real

For a nonprofit business plan, avoid presenting cumbersome and outdated documents created just for the heck of it. Remember, don’t just come up with random stuff because donators or funders demand it. Make sure to conduct thorough research before drafting a business plan as it builds credibility and trust while compelling potential supporters to invest.

It is an invaluable tool for your organisation.

4.      Divide Sections Clearly

If you are still confused, refer to any business writing guide…

The easiest way to divide sections while making them attractive is to use headings. Whether you are making a short business plan or detailed, ensure to create separate pages for every section and define it clearly considering your objectives. However, if your previous section finishes in the middle of the page – don’t just keep going. Start next section from the next page.

It gives readers a break to process…

• Clearly Outline Your Plan

Before writing up anything – make an outline. Outlining your business plan will make it pretty easier for you to get done with this daunting task. Once you know what details need to be put in, you will identify what data or information is required to complete the nonprofit business plan. Bear in mind; you might need to find data from the past few years.

Crystallise your objective and track down the finances…

• Present the Data Aesthetically

When laying out data and figures in your plan, don’t forget to add graphs and charts… this makes your statistics interesting. You must have heard a picture is worth a thousand words –  intruding the audience to read the complete document. While supporting reading comprehension, data presented visually makes it easier for the readers to understand. Not just this, it keeps them involved. Once you have drafted the business plan, don’t just keep it on your desk as a decoration piece.

Revise and improve it…

• Use Positive Tone

Usually, nonprofit organisations exist today present the darker side of life, but you don’t have to be a trickster to get funds for your business. If your mission is to end hunger, go into depth on your plan and define how you will fight it. Besides, if you want to help struggling single mothers, clearly state your intent.

Position yourself as a solution to a problem…

• Keep The Formatting Simple

Think back on when we were in college – we used to keep things simple. Similarly, simple formatting will make your nonprofit business plan easy to read and captivating. To be precise, you can use 12-pt. Font while sticking to Arial or Times New Roman. Moreover, leave one inch on both sides with double spaces lines – it creates white space that makes it look less overwhelming.

• Hire A Copyreader

Without a second thought, even the best writers need another pair of eyes.

Before finalising your document, get it checked thoroughly for bad grammar or spelling errors that may hurt the credibility. Moreover, when you are involved in writing a long text, it is hard to see your blunders.

So, hire an editor or ask a few people to proofread your written work.

• Do Not Hesitate To Think Big

Certainly, it is the key to success…

One of the striking aspects of Elon’s companies is how audacious they are. Hence, if you want to be successful, experience the magic of thinking big. Do not restrict yourself; clearly define your objectives while mentioning core business activities. Even if you believe, you have a futuristic fantasy – just give it a shot.

A business writing guide can work wonders in this matter…

Final Thoughts!

The first big battle that most charity organisations need to conquer before saving the world is their nonprofit business plan. Before indulging in business activities, even Elon Musk had a concrete and clear vision. Without direction, you may spend a lot of your precious time floundering.

Hence, the best way to ensure your success is to have a clear pathway to achieving milestones. Keep in mind, a well-researched business plan aligned with your vision can attract major donors while getting other potential investors on board.

Now that you are keenly aware of how to write a perfect business plan, you can see it does not have to be deadly or dull. But if you still think you need help – writers working at Bizplanss can help in completing your roadmap to success.