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Is Your Feasibility Study Feasible?
The Necessity for Being Prepared for Your Campaign Preparation...

After a feasibility study has concluded, we often suggest that a non-profit might want to take some time before starting the formal campaign to tie up any administrative "loose-ends" uncovered as a result of the study. And then, of course, there are the times we suggest moving ahead immediately, only to find out later that the feasibility study actually was the phase in need of prep time. You see, even with the most promising of feasibility study results, non-profits still could be more effective by taking an honest and open-minded look at their operations before commencing a study. Consider the following examples:

1. Prospect/donor database research   Too many times when asking a group for a list of prospects/donors that they would like us to interview, we learn that some key people never appeared on the list. How does this happen? The reason is two-fold— assumptions and oversight. There is nothing wrong with using this period as a cultivation technique to some new prospects who you would like to see more involved. However, if you're banking on 20 new uncultivated prospects to give you the answers needed in a study to justify a campaign, you'll only be disappointed. Conversely, by failing to properly research the background of your interview candidates, the right questions may never be asked—such as the availability of a family foundation or corporate matching gifts.

2. Timing   In today's fundraising climate, it appears that in any given week any number of charitable appeals could be conflicting. So understanding that a study is going to mean a handful more letters in mailboxes and numerous phone messages left, plan accordingly. Requests for time—whether they're made via mail or phone—are easily forgotten or misplaced when they're sandwiched between an annual appeal call and a charity auction invite.

3. Know your goals!   Hands down, the biggest unnecessary hurdle we face is when we start a feasibility study and the first two weeks of prospect interviews are pushed back because the projected campaign goals still aren't finalized. Remember, this is a chance to show people your long-range vision—your prospects and donors will let you know the items they're willing to support now, and the ones they might be interested in supporting 10 years from now. Before you start the feasibility study, those goals should be identified, agreed upon, and ready to be promoted. From that point, you'll learn soon enough which ideas are supported and which are not.

4. Planned giving only works with a plan   More and more, questions about estate gifts have been showing up on feasibility studies. Yet, what good are those questions if the organization isn't prepared or ready to pursue or accept those gifts? As for the charities that have a sophisticated planned giving program in place, a feasibility study is a perfect opportunity to promote such options. Consult with your legal advisors, financial planners, and board of directors to ensure that you have the means and tools necessary to promote, request, and accept the various types of planned gifts—and then use the study to zero in on them.

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