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8 Essential Steps to Starting a Non-Profit OrganizationDid you know that there are over 1.5 million non-profits in operation in the U.S. which accounts for a staggering 8.11% of all wages paid in the U.S. (Source: National Center for Charitable Statistics).

If you are passionate about a cause and can find a like-minded group of people to help you share the significant responsibilities of operating a non-profit, then the philanthropic and entrepreneurial rewards can be significant – if you know what you are doing.

Starting a non-profit is very similar to starting a for-profit business – and requires a solid understanding of business planning, tax law, marketing, financing options and leadership.

Here is a basic checklist for how to start a non-profit organization (NPO), while ensuring you pay attention to important legal and regulatory processes:

1. Define Your Mission

To ensure that everyone is singing off the same hymn sheet, it’s critical that you define your mission statement, (i.e. the purpose of your non-profit and the need it addresses) early on in the start-up phase. At the same time, realize that it will evolve over time as other stakeholders take shape and provide input – so keep your mission statement reasonably high level for now.

To read the full, original article click on this link: 8 Essential Steps to Starting a Non-Profit Organization | Small Business Trends