My Mom, Her Book, and Me! (The Book Development Process)

My business, Moksha Media, has a subsidiary component called Omniversal Publishing. It had been quite a while since I worked with a client to publish a book...that is until, last year. My mom certainly did not forget that I was in the business, and when she announced to me at the end of 2014 that she was writing a book, she naturally called on me to help out! I was excited and overjoyed. But I also knew that we were in for a BIG JOB! Both she and I welcomed the challenge, and over the last year, we learned so much from one another as we diligently worked to develop her book.

THE RESULT..."Metaphors of Faith, Words of a Praying Woman" is now available for purchase! You may purchase the book directly from her website, patsybazile.com. And we are excited about doing some great book promotion work in 2016! Thank you in advance for your support!

Anyhow, although this blog post is about my embarkation on a book editing, typesetting, cover illustration, and publishing adventure with my mom, it also explains the whole book production process. So if you are interested in writing your own book, read up!

Content Development

The first thing we had to get under our belts was what the book would be about. So early last year, my mom firmly established the fact that she wanted her book to be inspirational. She also wanted it to capture Christian life lessons that anyone could learn from. For the content development portion of the project, which I think is the MOST IMPORTANT part of any book production project, my mom was in full control. She prayed, meditated, and searched her soul for the initial set of words that would serve as the raw material for her book.

Writing a book can be a difficult process. But in the beginning, if you are honest about the scope of the task that lies before you, then the easier it will be to complete it. My mom and I both agreed that the process would be “organic.” As her publisher, I respected and admired her creative process as she prayed, meditated, and patiently allowed her creative writing skills to burst directly from the pit of her soul. The content dvelopment process is different for everyone, but it should be as authentic as possible.

As time went on, my mother sent her short stories to me. We discussed them, and we both ensured that her main points shined through every story. We also went through several revisions until we settled on final versions of the content in preparation for typesetting.

Book Title Development

We all know that titles of works of art are ALWAYS important. For us, we wanted to make sure that the title of the book captured exactly what the book was about. However, it was also very important to me that people know how close to my mother’s heart this book is. The title had to be precise and personal. It also had to be welcoming. Because the book makes heavy use of symbolic and allegorical language, “Metaphors of Faith” was perfect! But my mother’s faith is strong, so the book title had to convey this point immediately as well. "Words of a Praying Woman" was a natural sub-title. No matter how artistic, clever, unique, unorthodox a book may be, I suggest that the book title remains accurate and catchy.

ISBN, Bar Code, and Library of Congress Number

For any book that will be sold in major distribution channels such as Amazon, Barnes & Noble, brick-and-mortor stores, etc., an International Standard Book Number (ISBN) will be needed. ISBN designators are used by readers and buyers to find books. They are also essential for sales to bookstores, online retailers, and listings in databases and directories throughout national and global markets. The ISBN should be accompanied by a bar code. Obviously, the bar code will allow scanning of the book by retailers. A Library of Congress number is not required for books, but I always suggest that authors get one for every book that they produce. It is used as an index number for cataloging books in the Library of Congress database that libraries may use to generate card catalog entries for their holdings. The database is available to most libraries online. For my mom's book, "Metaphors of Faith, Words of a Praying Woman," we got all three, the ISBN, bar code, and Library of Congress number.

Book Cover Development

The task of book cover development can be owned by either the author or the publisher. But I am biased with the opinion that this task should be owned by the publisher. Some literary artists prefer to drive this task with their own vision. However, graphic designers or book publishers tend to derive design concepts that appeal to the general public for maximum consumer impact. In our case, my mom allowed me to have total creative control to design her book cover based on the content that we finalized. Thus, I developed a design that aligns with a particular story in her book, “What Would the Lion Do?” It’s a must-read chapter in the book that will resonate with anyone. Additionally, I made heavy use of blue hues on the cover to bring about feelings of tranquility, relaxation, sincerity, and peace to onlookers. For any cover design, I suggest that authors always think of the consumer first. Think of what will attract potential readers to your book. Make your personal interest an afterthought.

Typesetting

Once the book cover design was complete, I started the process of typesetting the finalized content for production. Nowadays, typesetting is made easy by a lot of online publishing houses. But I have found that creative control is often limited by many of them. Their easy set-up options leave end users stuck with particular fonts, page sizes, and graphical embellishments. I use Adobe InDesign, which allows me to creatively influence every aspect of what the content will look like in the book. I can then send my production file, with embedded details, to my book printing vendor of choice which is Lightning Source.

Book Production

So as discussed above, the major aspects of producing a book includes the following:

  • Content Development
  • Book Title Development
  • Acquisition of ISBN, Bar Code, and Library of Congress Number
  • Book Cover Development
  • Typesetting

But the final step is book printing. There are thousands of book printing companies out there, but Lightning Source allows me to control both the book production and book distribution processes for getting my published books into the hands of buyers. I could go on on about the nitty gritty details of what it takes to develop a book, but I only wanted to scratch the surface with this post. I hope this post helps other aspiring author’s out there. Working with my mom has been awesome! And all of the work that we have done has been amazing. As you can see we have been very busy, but it was all worth it. “Metaphors of Faith, Words of a Praying Woman” is a wonderful work of literary art that my mother has offered to the world! Thank God I was here to help make her dream a reality via Omniversal Publishing House. We welcome your support. And please visit my mom’s website at PATSYBAZILE.COM. There you will find details about the book, and feel free to read excerpts!

Until next time!

XOXO

D

Brought to you by:
Daymond E. Lavine
of daymondco.com

Oh, No! It’s Raining. Let’s Postpone…

So last weekend, despite the fact that the clouds were grey, the rain poured, and the roads were slick, I still managed to stick to a pretty rigorous entrepreneurial schedule! My in-person business meetings were still handled without a glitch, and most of my business tasks were completed to my satisfaction. Yet, I could not help but think about how we as entrepreneurs sometimes limit ourselves because of excuses.

In the past, I recall having some fledgling business dealings that didn’t seem to be important to some of the potential business associates I was attempting to forge relationships with. I remember how I used to be gung-ho about getting some new venture or business opportunity off the ground, but the other person found an excuse for postponing or canceling the meeting. In many cases I recall THE WEATHER being one of those excuses. Whether this excuse was truly a valid one or not, I may never know. But I will say that I sometimes wondered if something was wrong with me because I strongly criticized the other person for not being as passionate about a business opportunity as I was.

Was I being too hard on the other person? Was I pushing myself too hard for a potential joint venture that wasn’t even well-defined? After all, if a working relationship isn’t fleshed out yet, or it does not generate any income at the moment, then why worry about it so much?

Well, I’ll tell you why. All successful businesses that exist today began with a concept. After the concept was born, supporters began to carry it forward…without pay, only on the whims of a dream and the will to make something great! And all great things require sacrifice. Surely, if you are truly dedicated to a project, and there’s a little rain on the roads, then you grab your umbrella, drive cautiously, and making it to your business meeting to accomplish something wonderful! Now as for snow, hurricanes, typhoons, and great floods…well, those are a different story. But even then, telecoms may still suffice LOL.

Don’t let coordination with other folks or businesses stand in the way of your entrepreneurial goals.

If excuses offered by other people cause you to push out your deadlines for accomplishing your goals, then find other ways to get your tasks done! Listen to what the universe is telling you. The most important resource you have at your disposal is the power of now. MOVE TODAY despite any obstacles you encounter…even the weather!

Go Get’em!

XOXO

D

Brought to you by:
Daymond E. Lavine
of daymondco.com

Be a "HOT" Catch for Business Associates...

Don’t you hear it all the time? Is chivalry going out of the door? Does anyone offer common courtesy anymore? Do people care about formalities these days? And if you are one of those people who do care, do you practice what you preach?

When it comes to your business partners, I DON’T ADVISE DATING THEM ROMANTICALLY LOL. You are asking for a world of trouble if you do. BUT, as you attempt to build your business and formulate new BUSINESS relationships, I urge you to pay close attention to your own actions while you critique those of others. HUMILITY and SOFT SKILLS go a long way in business. However, with the onslaught of technology, hard and fast instant messaging, emails, and conversation by any means other than actual voice, we sometimes forget to check ourselves and our egos as we strive to do business.

As an entrepreneur, leave the “Big Head” at home.

So...picture yourself sitting at the dinner table, waiting for your blind date to arrive. You’re on edge, and you are fully alert. When your date arrives, you begin inspecting them from head to toe. When they begin to talk, you listen intently to every word they speak. You are "interviewing" them for the future, whether you want to admit it or not!

It's not much different with business...

Arrogance is a huge turn off when it comes to formulating a business relationship with anyone. For your first meeting, make sure that you have prepared for various conversational topics. You should not intentionally set out to dominate any conversation that you plan to have with a potential client or business partner. However, you can definitely "steer" any conversation based on major points that you have identified for your first meeting with anyone. Whether it’s a person that you are selling a product or service to, or a business partner that you are seeking to work with, big egos can impede progress. Keep that closely checked. The last thing people want to hear is, “I’m this, and I’m that…” or “I’m doing this, and I’m doing that, and then some more…”

Here is the reason why: If you are already doing everything, then why are we meeting??? There is no room for me in a world where, apparently, I am not needed. Sometimes, entrepreneurs are tempted to shamelessly toot their own horns because they think this impresses potential clients or business partners. But think again. This behavior is not attractive to other hard-working individuals who have important things to do as well. And if you as an entrepreneur only impress individuals who have nothing to contribute except blind admiration, then how can you become better than what you already are? Discuss real topics and achievements during your business meetings. And also, listen to the achievements of your potential business associates as well. This will set you up to accomplish marvelous things in the future with folks who will help your business grow and thrive in the midst of change and innovation.

When egos are toned down, and authentic growth and innovation is discussed by both sides of a transaction with different points of view, GREAT THINGS HAPPEN!

Tone: Are you using your “sexy” voice, “fake” voice, or “real” voice?

Salacious seduction or phony facades! BEWARE! These are always red flags to new customers and business partners. In most cases, people can tell when they are being oversold or faked out!

Okay, so let me bring you back to that dinner table in the restaurant. Remember that blind date I mentioned earlier? So you meet them, and they exude cool confidence, NOT ARROGANCE...just the way you like it. So now, the conversation thickens.

Have you noticed how some people go into this weird mode of operation while they put on a low provocative voice, or maybe some odd seductive fake accent to cover up who they really are?

Yeppers. The same thing happens in business. People will often try to beguile those they are seeking to squander out of money, products, or services. When you enter any business transaction, try to enter the working relationship with only your best intentions in mind and at heart. BUT...DON’T DO THIS BLINDLY OR HAPHAZARDLY. Although you will be bringing your best intentions forward, you will also need to monitor whether or not the customer or potential business partner is doing the same thing. If you are a customer, it doesn’t hurt for you to ask a service or product provider for a rundown of whatever it is they offer. If you are considering entering a business relationship with someone, ask them for their credentials and solid history of professional service. And whether you are doing the asking or the answering, by all means, BE “REAL” AND AUTHENTIC IN YOUR DELIVERY. Ultimately, this will pay off. You will also learn in some cases that you simply cannot fulfill the needs of everyone. It is impossible for you to work with everyone who approaches you. Use the power of DISCERNMENT and INTUITION. You only have yourself to blame later if you ignore these very basic instincts.

Your goals are great. Mine are too…SO LISTEN.

So you and your blind date seem to be hitting it off! The conversation is spectacular. They smile, have a sense of humor, and seem to be giving you some much needed “realness” on the dating scene. You two have been conversing in the warm, dark restaurant for almost two hours. So now it’s time to answer a few mind-probing questions, like, “What do you want out of life? And how does that line up with my goals and aspirations?”

On the business tip, this translates to, “How do you plan on meeting the mission and purposes of your business? And how does what you plan to do help my business?”

This is when things begin to get really interesting! It is the time when you realize that you have found this great new client or business partner who will challenge and propel the success of your joint venture. Or, it is the moment you realize very early on that you cannot successfully work with this potential client or customer. Call it quits while it is still early!

When one person in the business transaction has goals that overshadow those of the other person involved, the relationship is bound to suffer. If one person believes that it is his way or the highway, and no concessions are made to figure out how the other person’s goals will complement his own, then the relationship will not last! Period!

If you really want to work with someone, then take the time to get to learn more about them and their business model. If people want to work with you, then make sure that they complement your business rhythm and goals for continued success or expansion over time.

Do We Need a Pre-Nup?

You’re off to a beautiful relationship, but don’t get too excited. All relationships should have defined terms. Before you get that marriage license, make sure you know what you’re getting into. Also, you might want to think about having a pre-nup in place if you have cold feet about "putting a ring on it."

In business, we call this a BUSINESS CONTRACT.

You know that you are entertaining "real" business relationships when individuals and organizations are willing to execute contractual documents with you. So DON’T BE AFRAID OF DOCUMENTATION. If you plan on doing business with people, then be prepared to draft up business documentation for them as well.

If you are faced with informal business arrangements, essentially promises built on words during conversations or arrangements coordinated via fly-by-night emails, AND YOU ACCEPT THEM, then don’t be alarmed when something doesn’t happen as expected. However, if you adequately scrutinize and appropriately question every business opportunity you have at your disposal, AND ASK FOR THE PAPERS that go along with them, you will quickly be able filter which business relationships are right for you. Do not commit yourself to anything that is not built on a solid foundation!

In conclusion...

I hope this blog post helps you to re-evaluate all of your business relationships going forward. I’m on a mission to usher in some old fashion chivalry when it comes to all of my business relationships. And I hope that you are too! Follow me as you continue to work your magic with your business ventures!

As Always, my best!

Go Get’em Go-Getters!

XOXO

D

Brought to you by:
Daymond E. Lavine
of daymondco.com

Friendships, Acceptance, and the Spiritual Connection

Don’t worry. I know the title of this blog may scare some readers off, but this will not be a “preachy” post. I PROMISE!

I saw some Facebook content about a week ago, and I noticed how one of my FBFs expressed some concern about how another friend (not my FBF) posted reasons for not being able to make it to other peoples’ events and special occasions. The individual stated that he or she has familial priorities, kids, or just may not feel like participating because of how tiring life can be. Now, even though I think that the person was perhaps a little rude with his or her delivery of the blog announcement, I actually understood and “accepted” this point of view. I just read the blog post, and thought to myself, “Okay.” Then, I kept it moving. But, I still felt sorry for my FBF, because there was obviously some level of disappointment. Stuff like this happens all the time. And I think we all just have to learn to accept people where they are. I’m not saying be stupid and let them walk all over you. I’m just saying accept them. That means you do your thing, you let them do theirs, and you thoroughly enjoy moments when you and your friend can share common ground whenever and wherever possible! Friendships should not be forced.


My hardships are few and far between, and most of my struggles these days have become internal… primarily centered about how I see myself and my future developing. I have managed to reach a stage in my life where I experience next to no drama, and I don’t have huge altercations with any of my friends and acquaintances. But still, as with the situation above, I sometimes find myself being a bystander to many incidents involving my friends having altercations with their other friends. Generally, as they speak, I become quiet. I don’t get quiet because I have nothing to say. I get quiet because I want to hear and truly listen to what they have to say. Whenever possible, I also try to listen for key phrases that might suggest they want my opinion about the situation. I don’t stop there however. I go one step further and pay attention to their body language. Thus, if they want my input, I will definitely know it. If not, I will know that as well. In most cases, I have found that most people just want to be heard. They want someone to validate the fact that their feelings have been hurt. Or perhaps they had an opinion about a situation that was not communicated to the other party. Therefore, confiding in someone else about it helps them to cope with the unresolved issue. And I accept that!

Acceptance: That is a powerful word. Believe me; once you begin looking beyond the normalcy of all that you typically experience—or think that you experience—each day, you will accept everything for what it is. That includes your friends.

So now, let me define “spirituality” in the context of this blog post before I generate any confusion for you.

In my own words, I describe spirituality as that portion of reality and universal consciousness—permeating our very existence both physically and mentally—that we cannot fully experience or examine by our mortal point of view and basic sensory perceptions. We can only experience a portion of spirituality through our higher forms of perception, i.e. emotion and thought. Once we begin to proactively (not reactively) utilize the powerful potential inherent to those abilities to understand our friends, we then grow to appreciate them for who they are and where they are in life. We take note of their unique qualities, characteristics, and energy levels. Then, a true connection forms. The connection is so strong that we don’t need to talk to them every day or be with them all the time to be thankful for them. However, when we do connect with them, it is as if they have always been there with us all along!

It is this “spiritual connection,” or lack thereof in some cases, that has helped me tremendously in recent years. Have you ever heard the phrases “go with your gut [feeling]” or “use the spirit of discernment”? These expressions exist because we all know that people can experience the world in inexplicable ways. These are often spiritual experiences!

So how does all of this connect to your experience with your friends? Well, use your “higher self” to accept people where they are. Period. I guarantee that you will have a much better experience of the people around you each day. As far as your friends are concerned, there will be no reason for you to get upset with them if you truly “know” them and can forecast their behavior. And because you will have already accepted them, you will be better prepared for them to come back into your life after major upsets when THEY have learned to accept you and your behavior as well. Acceptance is a wonderful thing. Through acceptance, do you realize that you can actually learn to rejoice in agreeing to disagree with others? Try it!

When spirituality enters the equation, friendship becomes easy. However, also keep in mind that spirituality can also reveal when friendships are not meant to be. Have you ever met someone, and immediately felt as if something wasn’t right? Maybe you have had a long-lasting friendship, but then you begin to notice that your friend is now draining your energy, literally sucking the life out of you. You then begin maintaining a disturbing friendship to your own detriment. You have to let it go! There is nothing wrong with that. You’re “higher self” is simply saying, “Get out of this situation!”

There is sooooo much more that I can blog about on this topic, but I’m deciding to stop it here. Besides, I think this is just enough information for you to positively impact your relationships with people going forward. There is no need for arguments or remorse, unless you want more of the same negative drama in your life. Don’t fall victim to attracting negative energy to yourself. Instead, focus on reflection, self-improvement, and spiritual growth! These actions exist along a path of enlightenment, and you will surely benefit from them.


As always, go get ‘em, Go-Getters!
Au revoir!
Brought to you by:
Daymond E. Lavine
of daymondco.com

Reasons Why Black Businesses Fail In 12 Months

I ran across a very interesting article today. On the HBCUbuzz.com website, I found this article entitled, “12 Reasons Why Black Businesses Fail Within The First 12 Months.”

Here are the subtitles for those 12 Reasons:

  • Too Many Alphas & No Betas
  • No Research
  • Insufficient Funds
  • Failure to Adapt
  • Family Member, Not Business Partner
  • No Consistent Vision
  • Failure to Diversity Our Products
  • No Experience
  • Failure to Provide Good Customer Service
  • Failure to Market Online
  • Lack of Leadership
  • Lack of Followership

If you want detailed information regarding the way the article spins these 12 reasons, read it here: http://hbcubuzz.com/12-reasons-black-businesses-fail-within-first-12-months/.

All of the reasons above are extremely important to cover as you set out to start your own business. But I would also encourage you to delve deeply into how you can actually solve these problems. This article does a great job saying what’s wrong, BUT NOT HOW TO FIX IT.

If I had to pick my top reasons from the list above for why black businesses fail within the first 12 months, I would choose the following six: 1, 2, 3, 6, 9, 11.

A. Too Many Alphas & No Betas

I have seen this time and time again, even in my own collaborative efforts with others. It seems that everyone wants to be the top dog, but in most cases, those who want the power aren’t willing to do what it takes to have the power. Starting a business is not easy. There are a lot of nitty gritty odd and tedious jobs that need to be done while setting up a business. Documents have to be filed, supplies and equipment need to be purchased, plans need to be drafted and updated, offices need to be set up and cleaned, etc. It’s great to be able to bark orders or tell people what you want or desire, but do you really know what it takes to get there? Until you can fully grasp what is needed to run your business, you will never know the total extent of the risks involved with maintaining your business success.

In order to avoid this business failure, I suggest drafting a business plan, either high level or low level. Your business plan will help you understand all of the necessary steps involved with getting your business going. After you develop the plan, be prepared to be able to work ANY task identified in the business plan. NOTHING in your business plan should seem as if it is BENEATH YOU. If you know how to do it, then you can easily explain it to someone else or backfill them when some unforeseen event comes up.

B. No Research

I have often witnessed people wanting to start a business because they saw someone else do something similar and become successful at it. The new entrepreneur then thinks, “Well, if they can do it, I can do it too!” They excitedly run off and try to start a business with no solid foundation or know-how. BIG MISTAKE.

Before you start any business, you should definitely research your field of endeavor. I encourage you to do this because you not only want to know what it takes to be successful, you also want to know if you’re going to actually LIKE or LOVE what it is you will be doing. When you decide to become an entrepreneur, you have also decided to sacrifice your time and effort for building a business from the ground up. Pursuing something that you actually like will help you to persevere.

C. Insufficient Funds

This is a no-brainer. Of course it takes money to make money. But developing your business plan should help you with this one. Once you get your business plan done, you then need to start piecing together a budget. One of two things will happen. You will either be able to afford all of the items identified in your business plan, or only a few of them. After you find out exactly what it is that you can afford to get your business off the ground, add a timeline for accomplishments to your business plan. For items that you cannot afford, push them to a subsequent phase of development for your business. All great things take time to build or accomplish!

D. No Consistent Vision

Again, this problem can be resolved by having a business plan in place. Your business plan should contain your vision. Every step performed in accordance to your business plan should align with your vision statements. Many people get caught up with chasing trends in the industry or keeping up with the Jones’. Although it is great to know what other people in your industry are doing, you should always keep in mind that it is your UNIQUE VISION that will set you apart from everyone else. Stick to your vision unless it is absolutely necessary to modify your vision to avoid future business risks.

E. Failure to Provide Good Customer Service

You would think that everyone tries to do their best to ensure new clients become repeat clients. But this is not always the case with many new businesses. Many new entrepreneurs become overwhelmed and burnt out in the first year of their business. They quickly learn that starting a business entails much more work than they had anticipated. Because stress levels are high and energy is low, new entrepreneurs sometimes forget to harness their soft skills. They may begin to stop offering kind, inviting words to their clients and customers. They may also send the wrong messages to their customers by using negative body language. The ONLY way to avoid this risk is to always monitor your body language and communication with your clients and customers. You should ask for feedback as well. Use all customer feedback to your advantage and do not get offended if objective comments are made that you do not agree with. Simply learn from them, and then improve your customer service skills.

F. Lack of Leadership

The minute you decide to become an entrepreneur, you have also decided to become a leader in your field of endeavor. But do you really know what it means to be a leader??? The best leaders are people who know how to lead as well as follow. Great leaders are not only prepared for good times with the business, they know how to handle bad times as well! They demonstrate calmness, smarts, and finesse in times of adversity. Having to deal with business needs and crises on an everyday basis can be extremely challenging, but you have got prepare yourself to be a great leader if you want to be a successful entrepreneur. The best way to do this is to find mentors or other business leaders who demonstrate superb leadership skills. Meet with them if you can to learn from them. You will want to know the path they took to become such excellent leaders. If you cannot meet with, simply monitory their actions and demeanors. Try to emulate them, using your own style of course, whenever you can.

Don’t become a victim of any of the failures above. Be proactive about the success of your business. Most importantly share this information with other black business owners that you know. The more that everyone understands the common issues that we all face makes for the more we can work together to overcome them!

Let’s get it, My Go-Getters!

XO

Brought to you by:
Daymond E. Lavine
of daymondco.com

Should I Start a Nonprofit Business?

I was recently asked this question (see title) by a good friend and colleague of mine who is doing some wonderful things in a nearby city! At that point, I was suddenly reminded of all the things that should be considered if someone wants to start a charity! So, now I’m happy to share with you how I think this question needs to be approached.

If you have the goal of starting a nonprofit business, then one of your fundamental questions should be, “What benefit will I be providing to my target demographic?”

Keep in mind that the benefit you will be providing can be either a good, a service, or the combination of both. Once you identify that benefit, you need to figure out if it lends itself to being a charitable benefit or a retail benefit. This is where things get a little tougher.

What I often notice, when people branch out to create nonprofit organizations, is that they sometimes pursue them unnecessarily. What do I mean by this? Well, there are a lot of efforts that don’t require nonprofit status (501c3 identification by the IRS) to achieve the mission and purpose of the new business. In fact, partnerships can be formed with already-existent nonprofit organizations in a lot of cases! Nonprofit organizations can “loan” you their nonprofit status to launch mutually beneficial charitable efforts. Contact me, and I can explain that later.

Nonprofit organizations exist because they are not easily funded by conventional means. These businesses have missions that require outside funding because the consumers of their benefits do not have the resources to purchase them. Thus, nonprofit businesses step in and get the funding necessary to develop and provide benefits for their target consumer groups. Meanwhile, donors are kind enough to donate, and they get TAX WRITE-OFF BENEFITS! See how that works? Everything has balance, and everyone does something in return for something else…

How does the for-profit business compare?

Well, for-profit businesses provide benefits (goods and services) to target demographic groups that can purchase them. Additionally, for-profit businesses have the conventional means (primarily shareholder equity or bank loans and grants) to purchase resources to develop and provide their benefits.

What’s next after you identify your target consumer group?

A hundred more questions! For instance, consider the thought that you may want to provide benefits to an underprivileged consumer group, but another organization has already covered that need. Well, why would you even want to compete? Maybe the need is not covered as well as it should be by the already-existent business, or maybe you have absolutely no chance of competing at all. I can’t help you with that one; your further analysis has to reveal your chances for success.

For the sake of simplicity, I’m going to sum up this blog post by offering some cases for which you SHOULD NOT start a nonprofit business, as well as some cases for which you SHOULD:
The DON’Ts

DON’T START a nonprofit business if you cannot identify a target group that is not currently being adequately served by another charitable business.

DON’T START a nonprofit business—out of haste—because you think it is a good idea; yet, you do not know the facts about the scope of need of your target consumer group (and how you can uniquely benefit that target group).

DON’T START a nonprofit business with a “get rich” plan in mind. Nonprofits are, well, NONPROFIT LOL. As a matter of fact, the rule-of-thumb estimate for nonprofit overhead budget allocation is 25% or less. This percentage allows nonprofits to receive higher ratings from donors when they are compared to other similar nonprofit businesses with higher operating expenses.

The DOs

DO START a nonprofit business if you are servicing a target group with a need that is unfunded through conventional means in society.

DO START a nonprofit business if there are target donors (individuals, businesses, and/or corporations) who are willing to give to your cause, and all you have to do is ask!

DO START a nonprofit business if you are passionate about the cause, and you know that the world will be a better place because you (as well as your supporters and champions) have a unique vision that must be realized!

Until next time, Go-Getters!
Adios!
Brought to you by:
Daymond E. Lavine
of daymondco.com

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