What To Do After You Get a Feasibility Study Report
You receive a feasibility study report from a firm and know now that you're headed for a campaign. Exciting! But now what?
The report should serve as a roadmap, recommending a timeline and monetary goal that make sense, meaning the silent phase very well may organically begin once you review the report (if not before, and if not later should you have some work to take care of during a pause). This means it's time to intentionally cultivate, putting genuine relationship-building at the forefront.
-The final report should outline the largest solicitations to make first with great strategies, and then a path toward the rest. Perhaps there's a chance to leverage one gift, or a proposed challenge.
-You need to secure meetings with those who were interviewed:
Thank them for having participated and emphasize how meaningful their contributions were to where you're headed next.
Offer an update on the findings including the general recommendations made by the firm on the campaign goal, timeline, and allocation of support.
Continue the qualification / cultivation in this meeting (the first you secure after the report has been delivered!) so you're clear on where to take the relationship next. Consultants may have gathered a lot of information on their philanthropic priorities and affinity for your organization, but now you can connect this to very personal, deliberate next-steps.
If getting the meeting and navigating an in-person conversation feels tricky because people are busy, their jobs / careers are intimidating, or you're not sure what to say, don't forget that your greatest asset is the ability to ask questions. We can only truly qualify people as prospective major gift donors if we know what they care about, and then build relationships accordingly!
Where have you been involved and what was the experience like? Where else do you tend to give? Is your spouse especially passionate about any causes or organizations? What types of outcomes does your family like to drive with giving? Tell me about your business. How long have you been in these offices, they're beautiful! When your grandfather started this company, what was he trying to accomplish? How'd you end up in tech / law school / med school? Where do you spend time in the summer? Have you always gone to Aspen or is that something you started recently?
When in doubt, the ol' AI app is your friend to help prep. Ask it for interesting things you should know ahead of a meeting on behalf of a nonprofit with a hedge fund manager in Boston by equipping you with some notable headlines in that sector. This information can make you even more confident in navigating a conversation where you should do less talking than more!
Get those meetings and lead with gratitude — then curiosity. You've got this!
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Meg George is the co-founder and president of George Philanthropy Group, a consultancy that focuses on helping nonprofits prepare and execute on significant campaigns, and guides families on strategic yet meaningful gift-giving. She writes and speaks on philanthropy across the country, with a special interest in sharing best practices in major gift programs and supporting the next-gen in their mission-centric gift-giving. As an advocate for introducing philanthropy at a young age, she authored the children’s book about generosity, What’s Philanthropy to Philomena? Meg and her firm’s co-founder (and husband) Phil reside in West Palm Beach with their two children. More on Meg’s book can be found along with other personal essays on megtgeorge.com.
