“Have you created your strategic plan?”
A friend asked me this question and I realized that I didn’t think it was an important task for me to complete…at the moment. I’ve been told by others that I could create a strategic plan later on.
I waved it off and never thought about it until she asked. She shared her opinions on the importance of having a strategic plan and how it would help guide the direction of my business. When I started my business, I had a ton of ideas and strategies that I wanted to implement to help other Black female nonprofit leaders.
However, it instantly dawned on me that I needed to sit down and create a strategic plan to maintain focus. I preach all the time that you need to establish a strategic plan for your nonprofit organization, while at the same time…
…I am overlooking the importance of creating a plan for my own company – don’t side-eye me! Lol.
This kick in the rear end forced me to get my ish together and create my strategic plan. As much as I couldn’t admit it to myself, I knew that businesses require direction just as much as nonprofit organizations.
Entering the Nonprofit Space
Entering the nonprofit space, you will become a business-minded professional who understands the importance of using entrepreneurial strategies. And one of those strategies includes mapping out a plan.
I explained in a previous post, What You Need To Do To Start A Nonprofit, how clueless I was in my nonprofit development journey and the things I would have done differently.
I didn’t know what a strategic plan was nor did I understand the importance of creating one for my organization. It took me unlearning a few things I was taught to fully embrace an entrepreneurial mindset of what nonprofit development should be.
When you create a strategic plan for your organization, it will help you to gather the following information:
- The purpose of your organization
- Why your organization exists
- Vision for your organization
- Core values
- Long-term and short-term goals with action tasks
I am sure you think that you will probably never use this document after you create it. I will tell you that is far from the truth! This document won’t become a piece of history that you will never look at again. Your strategic plan will become the map you will use to help your organization reach sustainability. If you don’t take any other advice, I would encourage you to create a strategic plan.
Feeling around in the dark and not establishing important tasks needed to reach your goals will hinder the growth of your organization. So…in this post, I am going to share what you need to create a strategic plan for your organization.
In your organization’s strategic plan, it should contain the following things:
1. Overview of your niche
In a previous post, I discuss the importance of taking a peek into your organization’s niche. Researching information related to your niche will help you to gather valuable intel on the area of focus on a global and national scale. This will help you to paint a picture of what the sector looks like today. You can gather reports from NPResearch.org to aid in your research.
2. Vision & Mission Statement
I have learned that many people get confused with these two terms. Your mission statement is a part of the rib that is taken from the statement describing your organization’s purpose. The mission statement should state who you serve and what you do for your target audience. On the other hand, the vision statement will give the image of your organization’s future. This statement should focus on your target audience. Make sure you describe the aftermath of your audience participating in the programs and services your organization provides.
3. Core Values & Organizational Structure
The structure of your organization will be heavily influenced by the core values. Your organization’s structure should consist of roles that your organization foresees having in the future (or currently). When you take the time to write down these roles, you increase the likelihood that you will be able to identify the best individuals for your organization during the recruitment process. These individuals should be chosen based on the values of your organization. The core values should describe the heart of your organization.
4. SWOT and SCTEEPL Analysis
Competition is something that doesn’t go away just because you have started a nonprofit organization. Understanding your competition and how your organization can stand out will help you to obtain success in the industry. A SWOT and SCTEEPL analysis will allow you to identify your organization’s internal and external advantages & disadvantages.
5. Target Audience
Understanding your target audience will help you to focus on their problems and the value of your organization in their lives. You must take the chance to define your stakeholders and go beyond demographics. Gathering data and statistics on your target audience’s needs and points is great information to have in the beginning. Over time, you will want to consistently ask questions to the individuals your organization serves to establish an internal data collection system.
6. Long-term and Short-term Goals
What are your goals for the next 6 months, 12 months, and 5 years? This is a great place, in your strategic plan, to make strategic decisions with your organization. Measuring certain components of your organization will ensure that your nonprofit never plateaus and becomes stagnant.
7. Marketing Strategy
Getting the right eyes on your organization takes time AND effort. Creating a targeted marketing strategy will help you to target your ideal audience quickly. In your marketing plan, you should talk about what you will do to market your organization and how you will do it.
8. Fundraising Strategy
You are managing and operating a nonprofit organization, right? So…you need money to fulfill your mission. Having a clear plan of action on how you will raise and obtain money is important. By creating a fundraising strategy, you can give yourself financial goals that you would like to achieve over time.
Whew! That is a lot of information, but what I am telling you is important. This information will help you to streamline the operations of your organization with a clear path to success.
No more guessing games, confusion, and running around on Google trying to find strategies you can try. By focusing on your organization, you don’t have to worry about comparing your nonprofit to others. You will know that you are implementing the right strategies because you understand the purpose, mission, goals, and audience attached to your organization. If you need a template to get started, check out our strategic plan template here!
Are you ready to create your strategic plan?