Steier Tips

Strategies for Success: The Tortoise and the Hare

Let’s face it, when it comes to nonprofits’ budgets, there is tremendous pressure to make monthly, quarterly and yearly goals. Your staff, volunteers and clients not only expect it, but they need your organization to remain financially healthy, in order to continue providing necessary services.

In that pressure and haste, regardless of whether you are in an annual appeal or in a capital campaign, it is easy to open your database and dive into solicitation mode with your potential donors. While personal, face-to-face solicitation is always the most effective means to raise money, sometimes taking off the track shoes (hare) and softly applying the brakes (tortoise) will help you raise more money in the short and long term.

Donor evaluation is a great tool for analyzing your donors’ potential and ability, but what about their “readiness?” Nonprofits can spend so much time trying to get in front of everyone, that they’re not spending enough time preparing for:

     • those who are ready to give
     • those who need more time in cultivation

Strict timelines help every organization set and accomplish goals but realistically setting those timelines is important. Some donors need more education, attention and time in order to truly make a significant gift. If you rush the process, the resulting gift could be a fraction of its potential. So when conducting donor evaluation, consider not only the potential to give but the timing needed to realize the gift.

Concentrate on those who are ready and able to give first, in order to maximize your resources. Then set up a communications and cultivation plan to personally meet with other donors to begin the education process, explaining the needs of the organization and stress the benefits that will be derived by achieving your goals. Most donors want to partner with you to aide your cause. Developing a partnership requires willingness and continued dialogue by both parties. Once a common goal and passion are shared, a natural bond is created and can be cultivated in the form of financial support.

Some races require speed. Others require a consistent, more prolonged effort. Knowing the difference will change your development strategy and ultimately the ability of your donors to financially support your organization

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Other Steier Tips articles:

Ask Amounts
Creative Campaigning
Getting Read
Development Doldrums
Getting to Goal
Selling the Mission
Preparing for the Feasibility Study
Volunteer Involvement
Striking Out in a Campaign
New Year's Resolution
Preparing for Campaigns
Past Donors
Strategies for Success: Job Descriptions
Strategies for Success: Leadership Recruitment
Strategies for Success: Successful Donor Evaluations
Strategies for Success: Solicitation Training
Strategies for Success: Communications
Strategies for Success: Efficient and Effective Databases
Strategies for Success: Thanking Your Volunteers and Donors
Tax Provision a Great Benefit for Donors
"Challenge" Your Campaign
Hosted Events in Capital Campaigns
Are You Ready for a Capital Campaign?
The Importance of Personally Visiting Foundations
Make Summer Special
Post Campaign Strategy
Continuous Cultivation
Staying in Front of "Seasonal" Donors
Assessing Your Organization's Year-End Giving Program
Differences Between Development Audit and Capital Campaign
Identifying the Right Leaders
Campaign Communications
Assessing Your Organization's Campaign Readiness
Recruiting and Training Volunteers
The Magic Words
Donor Evaluation - Setting the Request Amount
Consistency in your Development Efforts
Keeping Your Donors Involved
Keeping the Excitement Alive
The Ask
The Importance of Hosted Events
Back to the Future
The Internet: Taking Advantage of the New Normal
The Importance of Recognizing Your Donors
Getting Off to a Good Start: The Importance of the Feasibility Study
Volunteer Training

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