Is Earned-Income Venturing Right for My Organization?
Every nonprofit has its own unique qualities and characteristics,
and not all are suited to the rigors of the open market. However,
unless a nonprofit explores the possibilities, it will never know
if an earned-income venture is a viable fund development course
or not. There are three very basic business parameters that an
organization can use to begin to question their readiness. We
will be using these
parameters as a basic premise in the evaluations that follow:
Money: It takes money to make money.
Markets: Central to any business is the creation of
a product or service for sale.
Management: Most small business ventures fail due to
poor management.
Earned
Income Venturing
Every nonprofit has its own unique qualities and characteristics,
and not all are suited to the rigors of the open market. However,
unless a nonprofit explores the possibilities, it will never know
if an earned-income venture is a viable fund development course
or not. There are three very basic business parameters that an
organization can use to begin to question their readiness. We
will be using these
parameters as a basic premise in the evaluations that follow: 