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Startups and Nonprofits

What are startups and nonprofits?

Although different in principle, this type of project goes beyond creating an item or product but requires its innovators to develop its service thoroughly and network and connect with others extensively. 

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With the ideas one has and the ambition to see it come to fruition, even at the risk of failure, startups address a disparity in the market and provide a innovative, unique, and modern solution, product, or service to fit the gap. There are many key components that make a startup work and succeed. Naming a few, your collaborative team and their responsibilities, your customers and their satisfaction with your product/service and your support, and your partners who help provide resources that you require to manage your venture. Have a vision for how you will start out, who you will reach out to, and what the future has, whether that will be expansion and / or adaption. 

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Nonprofits follow along the lines of developing a service however have a focus on servicing the community it is part of. It also may be dedicated to supporting or donating to other charitable organization that align with their principles and morals. The necessity for collaboration, responsibility, dedication, and communication are still principle for success of the nonprofit.

 

While similar in their management and creation, both nonprofits and startups are unique and require differentiated yet similar elements that lead to the success of their missions. The idea of nonprofits versus startups becomes a question of What can you do to make a difference vs What can you do to stand out to customers. 

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Scroll down to find out more about some of the essential elements of both startups and nonprofits!

Startup Elements - Target Audience, Adaptability, Marketability

Nonprofit Elements - Purpose and Mission Sustainability, Leadership and Memberhsip

Creating a Startup

Startups are hard to create and have the most chance at failure. But being an entrepreneur requires you to be provocative, ambitious and brave. These downsides do not scare the best entrepreneurs away but rather encourage them to preserve through hard times and failures. 

Robotics Engineers

Making a startup will take more than just ambition and perseverance and have a wide scope of areas they also must address. Below, the Innobitious platform will go over the most essential factors of successful startups and provide thought-provoking questions to help you consider how best to begin your startup. 

Target Audience

Selling a good or service is impossible unless there are people, customers, who are interested and willing to pay the price you set for such an item. They want the best benefit for each dollar of spent and it is your job as the entrepreneur to make sure your product is what your customer needs and possibly more. It is essential that you know who you are talking to and that you and understand their point of view. 

Shopping For Snacks

Questions to consider about your customers...

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How are you and your product better than your competitors?

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What are you customer's goals when purchasing/using your good or service and how will it fit into their livelihood?

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What prevents customer from being about to purchase or utilize your product fully?

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How will be able to create a connection with your customer?

Adaptability

It is critically important that a startup has a plan for the future; they are just getting started!  But you can't only think about and plan for your initial success because the future of your product is not guaranteed unless you are continuously provocative and update-to-date in your work. You can picture and map out your road to successful relatively easily but being about to adapt and change accordingly and for the better is what sets success apart from a one good day. Do not look forward to just one day of success, expect more out of yourself, your devotion, and your efforts.

Stock Market Graph

Questions to consider about your future...

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What will you do after you succeed, how will you expand and grow?

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If it comes down to it, how adaptable and easily changeable will your business model your team, affiliates, or partners be when it no longer is suitable for the current market situation?

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How well do you understand how your customer's needs change in the future?

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Is your business revenue diverse and/or flexible?

Marketability 

A business without customers has no business at all, literally. Being able to put you and your business in the public should only be considered a bare minimum when presenting yourself to possible customers. Your delivery, your appeal, your resonance, your relatability; all factors that must be considered and attempted at to secure customers. Your business is your brand and it is your brand that you hope our customers remember and repeat.   

Media Advertisement

Question to consider when presenting appeal to potential customers...

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What unique values are associated with your product and how can you develop those values?

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What is the best way to reach your target audience (socials, advertisement, etc...)?

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How do you communicate the advantages your goods/services provide?

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How will you receive and access feedback and develop your business around such to improve and adapt?

Creating a Nonprofit

Nonprofits are dedicated to service of a community or group of need. Their services can come in many different ways of supporting social causes including charity, education, public benefit, advocacy, and even religion. These are just a few targets nonprofits can aim towards but any beneficial cause to service and community can be under the umbrella of nonprofit service.

Charity Volunteers

Care, passion, and commitment lead to a nonprofit's degree of impact, no matter what community they aim to support. Innobitious's key elements for nonprofits are written below. Explore them and consider our thought-provoking questions to help you create an organization recognizable for their commitment to service and community.

Purpose and Mission

Nonprofits are known to start for an ideal. That ideal must be concrete, clear, and directional and be a guideline for your nonprofit's activities and initiatives. The purpose and mission will be the main elements people who support you will be encouraged, motivated, and driven by. Aim to foster change in your community, improve the life of those in your community, and create harmony in your community.

Image by Carl Heyerdahl

Questions to consider about your purpose...

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Why do certain inequalities exist and where do they stem from?

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Why is it important that your nonprofit exists?

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How do you address a certain social issue uniquely?

Sustainability 

A lasting and impactful nonprofit must have its purpose and target clearly defined and be able to work towards contributing to a solution to a substantial issue in society. Sustainability for a nonprofit addresses two different issues: one being the funding for its activities and two being the amount of consistent philanthropic and voluntary work committed. In reality, the issue you hope to address are impossible to solve in a day's work. 

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Questions to consider about your consistency of charity...

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How accessible are your program's benefits to encourage more volunteer work or funding?

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What are the goals of your supports / donors and how well can you align your purpose with theirs?

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How will you show gratitude and  fidelity to those who support you?

Leadership and Membership

Nonprofits rely on the support of volunteers and philanthropists; it is hard to manage and impact a community with a single person. Leaders may need to find a team to help them manage activities and events but more importantly, leaders must inspire members to work for their cause. Members also play an important role and the appreciation for their support must also be shown. Inspire consistency and prolonged support through admirable leadership. 

Public Speaker

Questions to consider when inspiring and leading others...

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How will you engage members and stand out to new comers?

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How will you present yourself to those who come out to help your initiative?

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What solutions do you have to allow more people support your initiative?

Marketability
Sustainability
Purpose and Mission
Adaptability
Target Audience
Leadership and Membership
Nonprofit Navigator
Startup Navigator
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