Have you ever asked yourself, “What would I do if I could not fail?”
I find that question incredibly inspiring. The question has led me to:
- Write a book (three, actually)
- Give keynote speeches
- Run 5K races
- Build successful businesses
Don’t think incrementally — think BIG! What have you got to lose?
Think BIG, but Also Think Differently
Instead of trying to increase your fundraising by an incremental five percent, what if you could double your fundraising this year? Actually, what you really want to double is your impact. THAT should be your goal. Doubling the impact should be your mindset.
Let me share an important fundraising secret:
It doesn’t matter if you come up short.
For example:
| Scenario A | Scenario B |
|---|---|
| Current Fundraising: $1M | Current Fundraising: $1M |
| Goal: Increase 5% ($50K) | Goal: Increase by 100% ($1M) |
| You surpass your goal and raise $1,065,000 | You miss your goal by a lot and raise $1,400,000 |
The better outcome is obvious.
In other words, it’s time to start thinking about your fundraising differently.
Take the “Double Your Fundraising” Challenge
I officially challenge you to double your fundraising in the next 12 months.
Let’s assume you raise one million dollars currently. So, in the next twelve months, your goal becomes raising two million. What would need to change to raise an additional one million dollars?
Will you raise an additional:
- Gift of $1 Million
- Two gifts of $500K
- Ten gifts of $100K
Asking these questions will help inspire discussion and lead to important questions such as:
- Who are the philanthropists in our community?
- Who are they connected to?
- What are they passionate about?
- What could we do to get connected to those people?
- Do we have a project and a case for support that’s worthy of a million dollars?
- What could we do that would inspire a $1M gift?
Raising more money isn’t simply about raising money for the sake of money. It’s about helping more people; expanding your programs and services. You probably won’t double your fundraising unless you expand your vision. That takes creativity and leadership.
A Plan to Double Your Fundraising
To double your fundraising in the next twelve months, what would you need to do differently? What would need to happen at your organization? The steps below provide a solid framework for you to proceed.
Months 1-6:
- Run a list of your largest and most loyal donors. Ask two wealth screening companies to do a sample screen on the top 50 names to help you identify which might be your best prospects.
- Develop a strong case for support (this is not a brochure, but a set of ideas about why people should give). Start with a simple bulleted Word document.
- Identify leadership level donors in your community. Determine who at your organization has a connection to those people on your list.
- Create outreach and cultivation plans for each person on your list. Be thoughtful about asking for their advice regarding your case for support and how they might think about increasing your impact.
Months 7-12:
- Continue to engage those who seem interested and willing. Invite them for a tour. Introduce them to other members of your leadership team. Ask them to join a committee.
- Create a simple gift range chart with no more than ten gifts. For a $1M goal, you might have one gift of $500K, three gifts of $100K, and four gifts of $50.
- Ask each prospect to consider a leadership level gift.
Final step: Let me know how it goes.
Getting Your Wheels Turning
Gifts of this size will not come from cash flow or people’s checkbooks. Think in terms of assets — including retirement funds, stock portfolios, property, and bequests.
You might ask for gifts of this size to be pledged over two to three years.
Start in your Boardroom
Begin with current and past board members. Don’t make assumptions about what they have or don’t have. You don’t know until you ask. Remember, your goal doesn’t have to be to raise $1 Million — it can be to double your annual fund (however you define that).
Will you take the “Double Your Fundraising” Challenge? Let me know in the comments below by saying, “I’m in!”
I’m in!
I’m in!