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r/Entrepreneur•
Drop_

Nonprofit idea - not sure where to start

Hi r/entrepreneur sub. I want to start by saying I stumbled upon this place after googling Tai Lopez, and I've stayed since.

I was inspired to think about starting my own business, and I've come up with what I think is a really great idea and is something that will actually be doing good in the world.

But I realized that I have no idea how to start. Typical questions I have been asking myself that I don't know how to answer:

  • How much money will I need to start?
  • How long will it take a developer to help me build an online presence?
  • How do I navigate the legal waters of the highly and tightly regulated industry I'm looking at?
  • How to get my idea "out there" to all the different groups of people that need to be involved for it to work?

Are there any resources or books, or even just a list of things I should do in order to get my ducks in a row? Specifically tailored to non profits?

All I have now is a rough/evolving business plan and a dream.

I feel like for the first time in my life I have a truly great idea, and I'm just incredibly overwhelmed at what seems to be a sheer cliff of everything I need to know and get together. But I want to say thank you, r/entrepreneur for being around. This sub is really amazing.

Posted Jun 4, 2015, 11:46 PM UTC

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iLikeSmBiz•

Starting a nonprofit depends heavily on your state. Here's a great resource on how to handle the state and IRS registrations.

Also, finding good co-founders (people who are experienced and share your vision) will help you, as their connections, money, and ideas should give your nonprofit a kickstart.

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Drop_OP•

Thank you so much for this resource and the advice. This is exactly the type of stuff I need most! It is an incredibly comprehensive and informative resource.

Now, if only finding good co-founders were as easy.

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bizzbuzzbang•

How are you going to pay the bills? Grants? Foundations? Individual donations?

How much money you need is easy ... project your non-profit's budget for 3 years. If that's past your abilities right now, do some googling / youtube about it.

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Drop_OP•

Yeah I'm not really sure on funding because I don't know how to estimate what the budget will be across 3 years. Is there any resource that can help wrap my head around that type of estimate?

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bizzbuzzbang•

Google entrepreneur 3 year projection and take a look at the results.

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[deleted]•

[deleted]

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ncont•

I suggest you ignore Tai Lopez.

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Drop_OP•

Yeah I do, but I saw his ad and wanted to know what he was about .

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bworthington3•

So a simple suggestion: Start with the first step.

Validate your idea. If you are able to, pitch offering your service for free to an organization that may already work with your target market.

This will accomplish 2 things: 1 - Validation of the feasibility of your idea 2 - You'll be able to gain valuable feedback and pivot/evolve accordingly.

A trap many of us, myself included, fall into, is waiting until everything is PERFECT to launch. Until you go live, you will never achieve perfection in a theoretical environment.

Rubber to the pavement will teach you far more than online research.

Best of luck.

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Drop_OP•

Thanks, I have plans to talk with several people who will be integral financial pieces (a target market) for what I want to start to see if it's something they would be interested in.

Unfortunately it's not something I can really "offer" until I have it up and running. So I really need to get my development ducks in a row before I really start pitching it everywhere.

I realize I also have to get my legal ducks in a row as well, because if I'm missing something I think I could get royally screwed.

I definitely won't wait until everything is perfect, though. And I'll do all the hard research (pavement pounding and interviewing people) first.

Thanks.

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halfercode•

How do I navigate the legal waters ... ?

What country are you in? Legal compliance issues greatly from one country to another.

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