Enhancing Organisational Strategy and Financial Planning focuses on improving a community and volunteer sector organisation's efficiency and sustainability through strategic analysis and financial forecasting. This strategy begins with a SWOT analysis to identify strengths, such as skilled volunteers, and weaknesses, like limited funding, by gathering insights from both internal and external stakeholders. For example, assessing threats like changes in government policies helps in making informed decisions.
Developing an income forecast involves reviewing historical financial data to set realistic income goals and exploring new revenue sources like grants and fundraising events. Engaging a financial advisor to create multiple forecast scenarios ensures adaptability to changing market conditions.
Increasing community engagement and volunteering is crucial. Designing outreach programs and hosting events can enhance community ties while developing volunteer recruitment strategies ensures diverse participation. Recognising and training volunteers further strengthens this initiative.
The strategies
⛳️ Strategy 1: Conduct SWOT Analysis
- Form a small team to lead the SWOT analysis process
- Identify key internal stakeholders to gather insights on strengths and weaknesses
- Engage with external stakeholders and partners for feedback on opportunities and threats
- Compile and categorise data collected from various sources
- Analyse strengths such as skilled volunteers and strong community ties
- Evaluate weaknesses such as limited funding or volunteer retention issues
- Identify opportunities for expansion or collaboration with other organisations
- Assess potential threats like changes in government policy or economic downturns
- Summarise the findings in a detailed report for stakeholder review
- Develop actionable recommendations based on the SWOT analysis
⛳️ Strategy 2: Develop an Income Forecast
- Review previous financial statements to identify consistent revenue streams
- Set realistic income goals based on historical data and market conditions
- Research potential new income sources such as grants, donations, or fundraising events
- Engage a financial advisor to assist in forecasting future income
- Create multiple forecast scenarios (conservative, moderate, optimistic)
- Develop a timeline for expected cash flow based on projected income
- Implement tracking mechanisms for monitoring income against the forecast
- Adjust budgetary allocations based on forecasted income projections
- Regularly review and update the income forecast as new data becomes available
- Present income forecast and analysis to key stakeholders for feedback and approval
⛳️ Strategy 3: Increase Community Engagement and Volunteering
- Design and launch a community outreach programme to raise awareness
- Develop volunteer recruitment strategies targeting diverse demographics
- Host community events to engage local residents and stakeholders
- Provide training and development sessions for volunteers
- Implement a recognition programme to reward and retain volunteers
- Partner with local businesses and schools to increase volunteer involvement
- Utilise social media platforms to engage with a broader audience
- Send regular newsletters to keep the community informed and involved
- Evaluate the impact of volunteer activities through regular assessments
- Collect and analyse community feedback to refine engagement strategies
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
