Ten tips for the time-conscious fundraiser
September 5, 1994; Canadian FundRaiser
It may be a cliche, but the saying that "time is money" is especially true for fundraisers. Here are ten tips reprinted from the September issue of Fund Raising Management.
- Since 99 per cent of the funds come from one per cent of the donor base, target the big gift.
- Seek three or four-year pledges for small donations. To make this work, determine how your small gift activity can lead to major gifts and provide publicity.
- A good planned giving officer can raise at least 35 per cent of your goal. If your organization does not make planned giving a priority by the turn of the century, it will be effectively out of fundraising.
- Every hour you dedicate to planning will save you four hours in fundraising activities. If you fail to plan, plan to fail.
- Be ruthless in determining what you can and cannot do. The competition for priority number one is incredible; no task is worthy of a last-place finish.
- Gift closings are enhanced by as much as a factor of ten for every hour you spend on a project. The premature solicitation of a donor wastes your time, your volunteers' time, and your prospect's time and patience.
- Don't be afraid to talk about money; after all it's your job. Educating your prospects about the fiscal challenges is your obligation.
- New relationships are high costs and low return. Make sure you exhaust all avenues with previous donors before you reach out to new relationships.
- Thank your donor seven times before asking for the next gift. Appreciation is critical; short-shrift your donor and there will be no follow-up gift.
- Watch out for quicksand. Limit the use of special events. Recognize that special events can use up an inordinate amount of time and yield very little in donations, as well as cultivation. Don't overdo it.
