01 Pause and research
At this point I would like to add a caveat – I do not really like the term fundraising. For me, it seems like a cupcake sale on a Friday afternoon, or some raffle tickets on sale for a new school bus. Sure, it still holds some relevance, however, I believe that we have evolved significantly to view fundraising as a more strategic process; as much an art as it is a science. Organisations have adapted the titles of their resource builders to include business development officers, stakeholder management, resource mobilization officers, and advancement specialists. I personally like calling it partnerships and engagements, simply because I am a partnership practitioner, and everyday I see the benefits of positioning oneself to seek more than a transactional relationship, but rather as someone who is prepared to look for shared valued opportunities. I am certain it does something in the mind of a prospective partner who in reading your email, finds comfort in knowing that both parties can express their needs and wants equally in a possible engagement. Getting the basics right in your fundraising strategy document or whatever you may choose to call it – is an important step in a vital resource that guides the organisation to and through how organisational funding will be raised in the short and long term. Here are three useful tips to help you start putting your fundraising strategy together.
Before you begin putting ink to paper in pulling your strategy together, pause and research. This is my number one tip! Simply, what this means is you need to collect as much information as possible regarding your organisation and its financial position. Usually, organisations have strategy sessions where a lot of rich fundraising information can be gathered – however some organisations do not have these sessions and just hit the ground running. Either way, information is gold. What is this information that is needed and why is it important? Such information gathering should include detail on the planned organisational budget for the year. This will help you determine a fundraising target. More crucial questions to ask and answer include: Where are the shortfalls in funding for the current year? Does it lie within a specific programme or general costs? What is the operational costs vs programme costs? How many of your current donors will be retained? How many of your donor’s contracts end? Single year vs multiple year grants? Are there any special events or campaigns being planned? Will we be adding a new programme? Have they been accounted for in the budget? Just be curious and gather as much of the 'low down' as possible.
“I personally like calling it partnerships and engagements, simply because I am a partnership practitioner and I see the benefits everyday of positioning oneself to not just wanting a transactional relationship, but someone who is prepared to look for shared value opportunities.”
48 | Collective Action Magazine
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