Finding Your Courage for Fundraising: Raise a $1 Million Gift

If I could wave a magic wand and change one thing about most fundraisers, it would be to give them courage. Courage can be transformational.

It takes courage to take bigger risks in fundraising. And many of those bigger risks are well worth taking.

Do You Have the Courage to Raise a $1 Million Gift?

It’s the start of a new year. With that, I want to encourage you to take more risks and think bigger this year. What might change the trajectory of your fundraising?

For example, what would it mean to your nonprofit if you raised your first $1 million gift?

What could you do right now, this month — on this very day — to increase the likelihood of you soliciting and receiving a $1 million gift later this year?

Planning — How to Craft a Dream into Reality

While raising your first $1 million gift may seem like an impossible dream, every accomplishment begins as a dream. It’s planning, action, and follow-through that determine whether a dream will find its footing in the real world.

You can’t possibly raise $1 million if you don’t focus on the right prospects. So where should you start?

• Start by researching and discussing who the $1 million prospects are in your community.
• Have you had that conversation at your nonprofit as a team?
• What about speaking with your board members?

Take a little time each week in January to research and identify as many $1 million prospects in your community as possible. Set up the meetings at your nonprofit. Don’t be afraid to get the ball rolling!

Change Your Mindset: Assume You CAN

This year, I want you to assume you will raise a $1 million gift. When you internalize that dream and work on it from the standpoint that you cannot fail, you WILL take the necessary action steps to turn that dream into reality.

Conversely, if you assume you won’t raise a $1 million gift, the dream ends there. You certainly won’t take the steps and actions necessary to raise that large of a gift.

How About the Courage to Raise 50% More than Last Year?

It takes vision, courage, and action to raise more money. So let’s look at another, similar example.

What if you could raise 50% more than you did last year? What would have to happen for you do accomplish that?

Let’s say your annual fund raised $1 million last year. Next year you want a 50% increase, which would be an additional $500k.

5 Ways to Raise an Additional $500k this Year

Let’s list the ways you could raise an additional $500k this year.

1. One gift of $500K
2. Two gifts of $250k each
3. Three gifts: $250, $150, and $50K
4. Four gifts: $250, $100, $100, and $50k
5. Five gifts: five gifts of $100k each

While I capped our list at five, your options are nearly endless. That said, the reality is that you would really only need five or so additional major gifts to raise 50% more than you raised last year.

Do the calculation for what a 50% increase would look like at your organization. Then, commit to making it happen — give your dream wings!

Have the Courage to Make Bold Asks

Courage in fundraising begins with asking for what you truly need. Most fundraisers hesitate to make bold asks because they fear rejection or alienating donors.

It’s important not to settle for safe requests. If your case is compelling and you’ve done your research, take calculated risks and ask for what you need.

• What if you had the courage to ask more individuals for gifts?
• What if you had the courage to ask for larger gifts each time you asked?
• What if you had the courage to pick up the phone and ask for more meetings?

Think about what a difference any of these things would make in your fundraising results.

Courageous fundraising involves looking beyond what you do now. Don’t let fear of failure hold you back. Instead, embrace the possibility that you will do something truly great.

Be Bold — You CAN Make it Happen

Whether you’re itching to raise your first $1 million gift or to raise 50% more than you raised last year, only you have the power to make it happen. So, make a goal this year to meet with ten high-impact donors and ask them for significant gifts. There are individuals in your community who could make a big difference. Your job is to find them and start a dialogue.

You may not have a magic wand, but you do have the power to be more courageous and make real change at your organization. You’re the fundraiser!

As the saying goes, “No risk, no reward.” Make bold asks and adopt a can-do mindset. The gifts will follow.