Involve Investors in Future Planning
When it comes to strategies for raising money, let's start with what we know. We know that philanthropists are investors: their curiosity in gift-giving is around how impactful gifts will be and how support will be used to generate important outcomes. We also know that this all boils down to what the future has in store.
So, it begs a good question: what does the future have in store? The strategic vision that an organization sets become the fundraising arm's "case for support" so we must understand how this vision was set, why the areas identified are most important, and where sustainability fits into the plan. Visions are only as good as the ability to fund them, so it's important to involve our external constituents in these conversations. I often ask my internal-team clients, "who, besides you all, thought that this plan was the right one?" It's becoming increasingly challenging to expect our potential key stakeholders to be sold an idea without having been even a small part of the process to determine what the idea is.
One of the most valuable things prospects and donors can offer us is tough and thoughtful questions about our strategic plan; nonprofits grow from the involvement of business women and men whose experiences in other industries can influence our ability to be successful. If we are offering prospects a seat at the table, we are both leveraging their knowledge to grow ourselves while actively engaging them. It's a win-win. But it also means that we must truly be open to their feedback. It is a regular occurrence amongst nonprofit organizations to either A) create a strategic plan in a vacuum and feel surprised by constituents' disinterest in supporting it, or B) involve constituents in a visioning process to be sure they feel included without a real appetite for feedback and an openness to change. It's impossible to incorporate everyone's opinion, and once there are too many, you may be losing control over the process -- but when you ask 4 to 10 individuals for their thoughts, it should be because you trust them, they know you, and they are pretty likely to invest in you.
"Vision" is synonymous with the future in this case, and it is incredibly important because it is setting the course for how an organization will generate outcomes, grow, and protect against risk. Philanthropists are wondering how plans will balance realistic or attainable goals with some bold, fresh ideas. Don't hide your problems. Talk about your current roadblocks when you lay out your plans for the future so you are proactively communicating to investors how you will protect against those very challenges. For many, this will boil down to sustainability. Think about how lines of revenue are diversified through more or different ticket sales, increased enrollment, or tenants in your building, combined with an endowment that's generating flexible, spendable money annually. When we are honest about our opportunities for solid growth, we stand the chance to be helped and supported.
