September 19, 2002 | Read Time: 1 minute
Venture Forth: the Essential Guide to Starting a Moneymaking Business in Your Nonprofit Organization
by Rolfe Larson
This guide lays out steps for nonprofit groups that want to start a business, and shows them how to use skills and techniques from the corporate world.
Rolfe Larson, president of a consulting firm in St. Paul, Minn., starts with an in-depth look at business ventures run by nonprofit groups, explaining benefits for the organization involved, such as improved finances and increased visibility. On the flip side, he explains how business ventures, by nature, may clash with an organization’s culture or values, and may be difficult to finance.
Mr. Larson explains how to select a project leader and staff members who will determine a plan and secure support for the venture. Other steps described include the “venture audit,” a process through which a nonprofit organization can assess its entrepreneurial capabilities and staff members can brainstorm and screen ideas for business, and the “quick market test,” which involves conducting research to determine whether a project is feasible. The last step involves taking all information gathered and coming up with a business plan for operations, staffing, marketing, and financing.
Appendices include worksheets, a sample financial plan, and a list of Internet resources.
Publisher: Amherst H. Wilder Foundation, 919 Lafond Avenue, St. Paul, Minn. 55104-2108; (651) 659-6024 or (800) 274-6024; fax (651) 642-2061; books@wilder.org; http://www.wilder.org; 256 pages; $30; I.S.B.N. 0-940069-24-5.
