Nissan is the first month in the Jewish calendar and can also serve as a great time for you to begin your fiscal year. To that end, it is a great time to set new revenue goals for your nonprofit. Following is a step-by-step guide that will help you set a realistic goal – and actually reach it!
Before you begin, remember that a proper goal is specific, measurable and time-based.
Start by choosing your number.
Pick a number for your revenue goal. Don’t worry about it being doable, just start with what you want to achieve.
How do you know if that goal is realistic?
All you need is a simple spreadsheet (contact us at: info@strandconsulting.net and we’ll be happy to send you a sample):
- Column 1: How do you bring in money? Is it just donation or do you sell something?
- Column 2: Price per unit. What is your average income generated per donation (can break this down to small/medium/large)? Per sale?
- Column 3: Quantity. How many donations/sales do you expect to get this year?.
- Column 4: Revenue. Multiply columns 2 & 3 to get the total revenue per category.
Now, you’ve got your total amount of income you can realistically generate in what is left of 2019. Does it match your original goal? If yes, good for you! Go for it!
If not, you’ll have to rethink how you’re going to bring in more money through different fundraising activities or other saleable items – or you may need to change your goal! Keep moving numbers around until they match.
If you need help figuring out your numbers, give us a shout at 213-787-7263.
Wishing you a Chag Kasher V’Sameach!
Estie Rand is an internationally acclaimed lecturer and business consultant specializing in helping small business owners and nonprofits bring in more money with less headache. She can be reached at estie@strandconsulting.net for all your business and nonprofit related questions in areas of marketing, profitability, growth strategies and more.
