5 - Develop and Execute a Revenue Source Plan - Building Multiple Revenue Sources

Develop and Execute a Revenue Source Plan

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Once you have reached the fourth step of the revenue development process, you have conducted a number of exercises and activities encouraging you to brainstorm and evaluate your current capacity, as well as your goals for the future. In step four, you will formally capture your plans for implementation in an executable revenue source plan. A revenue source plan includes five parts: selection of revenue source, plan objectives, adjustments to systems, schedule, and summary of costs.

Develop meaningful and measurable plan objectives.

Your statement of objectives should be a simple statement of what you want to accomplish by when. It will detail not only the dollars you expect to raise but any additional goals you identified in step one of the revenue development process. Plan objectives are best stated with a measurable output by a specific date. Example objectives could include:

Acquire 1,000 new names by January
Reactivate 1,000 lapsed supporters by year-end
Raise $50,000 at a 4:1 return on investment not to exceed a $12,000 level of investment this fall

Understand the impact of your revenue source plan.

Your revenue source plan has the potential to impact countless areas of your organization, from accounting, to registration and reporting. Reference the systems area summary to analyze how the different revenue systems could potentially impact your organization's systems and procedures.

Document your revenue source plan.

Download the revenue source plan template. This document includes fields to capture five areas of your revenue plan, including plan objectives, selection of revenue source, summary of costs, adjustments to systems, and schedule.

Reference the template as you review the activity to the right.

Complete a revenue source plan.

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