Is Your Non-Profit Ready
Entrepreneurial Training Institute
…….for Social Enterprise? NJ Economic Development
Authority www.njeda.com
(609) 292-9279 eti@njeda.com/E
New Jersey Economic Development Authority (EDA)
Assessment Tool
The Entrepreneurial Training Institute (ETI) offers an innovative program which trains 501(c)3 non-profit organizations in socia
entrepreneurship (SE). The organization begins with the goal of relying less on grant funding over the long term and maintaining
the mission and building capacity. The SE concept is based on a profit-generating small business. The steps to sustainability
include a feasible business idea, market analysis and plan, board commitment, dedicated staff, financial and organization strength
with equity. ETI will assist your organization to focus on the business idea, financial readiness, and creation of a quality business
plan with the opportunity for financing. The following questions will help the organization begin to develop a strategy. Starting,
running and growing a business takes a significant time and financial commitment. The more “yes” answers you select, the more
prepared your organization will be for success in ETI and in the SE business. Please note, should you register for ETI, the completed
Assessment Tool is required for the first meeting.
Instructions:
Enter your responses by placing an "X" in the appropriate box.
This tool has been created in Microsoft Excel to accept your responses and automatically calculate and graph your results. To
enter your responses, simply select the cell, enter an "x" and hit “enter.” In the event you want to go back and change your
response, select the cell, enter the new response and hit “enter.”
Business Idea
How can your organization be sure that the idea can translate into a successful business?
YES
1. Can your organization clearly and concisely explain the vision for the business and why and how it will
succeed? Does the idea fit with your mission?
2. Does the product/service solve a customer problem/need?
3. Does the product/service have a competitive advantage – something that will help your
company stand out from all the others?
4. Has your organization identified your target customers?
5. Has your organization identified the ways you will make your service/product known to your customers?
6. Has your organization identified the costs of making your company known in the marketplace?
7. Does your organization understand the key success factors for your business - what it will take to be
successful?
8. Does your organization know who your key competitors are?
9. Has your organization assessed the strengths and weaknesses of your key competitors and developed
tactics to differentiate yourself?
10. Has your organization identified the potential risks of this particular business opportunity and
developed a game plan to address those risks?
BUSINESS IDEA TOTALS
@2005 Entrepreneurial Training Institute 1
Is Your Non-Profit Ready
Entrepreneurial Training Institute
…….for Social Enterprise? NJ Economic Development
Authority www.njeda.com
(609) 292-9279 eti@njeda.com/E
New Jersey Economic Development Authority (EDA)
Financial
Does the organization have, or can it obtain, the resources necessary to start and grow a successful business?
YES
1. Does your organization know what it will cost to make/deliver your product/service?
2. Does your organization know what you will charge for your product/service?
3. Is the amount of potential profit worth the investment/risk? Does it benefit the organization's mission?
4. Does your organization know what staff (managerial and operational) needed to run the business?
5. Has your organization established with certainty that your target customers will pay your suggested
price for your product or service?
6. Is the size of your potential market sufficient to produce a profit?
7. Does your organization understand the basics of finance and accounting?
8. Is your organization financially prepared to cover the parent organization's expenses without drawing a
profit while the business is starting?
9. Is the organization prepared to commit the organization's assets to secure financing, if needed?
10. Are the board members willing and able to pledge personal assets as collateral for a business loan, if
needed?
FINANCIAL TOTALS
Organization
Does the staff and the Board possess the characteristics to support a social entrepreneurial venture?
YES
1. Can your organization identify how the skills and experience in the staff and Board will make this
business successful?
2. Is there commitment to develop a business strategy?
3. Does the organization understand the demands and sacrifices necessary when starting a new
business? for a 2-year start-up period?
4. Has your organization created a budget, accounting for expenses at the start and until profitable? What
if the business is not profitable, but breaks even AND sustains the mission?
5. Does the social entrepreneurial venture fit with the organization's culture and mission?
6. Is the dedicated staff committed, motivated and capable of working independently?
7. Will the organization tolerate the risk for this venture?
8. Is the dedicated staff capable of multi-tasking and do they have a high energy level which can be
maintained over a long time?
9. Can the organization be decisive in the face of incomplete information?
10. Is the organization passionate about the business idea?
ORGANIZATION TOTALS
@2005 Entrepreneurial Training Institute 2
Is Your Non-Profit Ready
Entrepreneurial Training Institute
…….for Social Enterprise? NJ Economic Development
Authority www.njeda.com
(609) 292-9279 eti@njeda.com/E
New Jersey Economic Development Authority (EDA)
OVERALL ASSESSMENT RESULTS
1.2
1
0.8
0.6
0.4
0.2
0
BUSINESS IDEA TOTALS FINANCIAL TOTALS ORGANIZATION TOTALS OVERALL ASSESSMENT
YES
BUSINESS IDEA TOTAL
FINANCIAL TOTAL
ORGANIZATION TOTAL
OVERALL ASSESSMENT
Interpreting The Organization's Results
25-30:
Your organization is well on its way to entrepreneurial success. Review each
category and see what you can do to address your “no” answers. Use the
Entrepreneurial Action Plan on page 4 to identify and record your goals. ETI can
help you further translate your ideas into a plan for a successful business.
15-24: Your organization has some work to do in order to prepare for success. Look at
the categories and see where you selected the most “no” answers. Consider
what your organization can do to make those responses “yes.” Use the
Entrepreneurial Action Plan on page 4 to identify and record goals and actions.
ETI resources may provide the structured assistance needed to transform your
SE ideas into a plan for a successful SE business.
14 and below:
Consider whether an entrepreneurial venture is right for your organization at this
time. Review each category to determine where to concentrate your
organization's efforts should you decide to move forward. Do you need to be
more financially prepared before taking the leap? Do you need to focus on a
different business opportunity than the one currently in mind? Is a social
entrepreneurial venture as profit-generating small business right for your
organization? Contact ETI when better prepared.
@2005 Entrepreneurial Training Institute 3
Is Your Non-Profit Ready
Entrepreneurial Training Institute
…….for Social Enterprise? NJ Economic Development
Authority www.njeda.com
(609) 292-9279 eti@njeda.com/E
New Jersey Economic Development Authority (EDA)
Entrepreneurial Action Plan
Challenge Action Plan Completion Date
Use this column to identify the
Use this column to identify actions to address these Set a target date for
current challenges your
challenges. completing the goal
organizatin faces.
Business Challenges
Organization Challenges
Financial Challenges
@2005 Entrepreneurial Training Institute 4
Entrepreneurial Training Institute
NJ Economic Development
Authority www.njeda.com
(609) 292-9279 eti@njeda.com/ETI
an innovative program which trains 501(c)3 non-profit organizations in social
h the goal of relying less on grant funding over the long term and maintaining
s based on a profit-generating small business. The steps to sustainability
plan, board commitment, dedicated staff, financial and organization strength
us on the business idea, financial readiness, and creation of a quality business
ing questions will help the organization begin to develop a strategy. Starting,
me and financial commitment. The more “yes” answers you select, the more
I and in the SE business. Please note, should you register for ETI, the completed
ept your responses and automatically calculate and graph your results. To
"x" and hit “enter.” In the event you want to go back and change your
hit “enter.”
NO
@2005 Entrepreneurial Training Institute 5
Entrepreneurial Training Institute
NJ Economic Development
Authority www.njeda.com
(609) 292-9279 eti@njeda.com/ETI
he resources necessary to start and grow a successful business?
NO
racteristics to support a social entrepreneurial venture?
NO
@2005 Entrepreneurial Training Institute 6
Entrepreneurial Training Institute
NJ Economic Development
Authority www.njeda.com
(609) 292-9279 eti@njeda.com/ETI
ALL ASSESSMENT RESULTS
NO
@2005 Entrepreneurial Training Institute 7
Entrepreneurial Training Institute
NJ Economic Development
Authority www.njeda.com
(609) 292-9279 eti@njeda.com/ETI
Completion Date
Set a target date for
completing the goal
@2005 Entrepreneurial Training Institute 8