Understanding the “Why” in Mega Gift Fundraising
In the world of fundraising, asking for a mega gift is both an art and a science. It requires careful planning, deep understanding, and, most importantly, a readiness to truly dig into the “Why” behind your donor’s response. Whether the answer is “Yes,” “No,” or “Maybe So,” your ability to uncover the underlying reasons can make all the difference in building a lasting, impactful partnership. Step #8: What to Do When the Donor Says “No” Let’s face it—getting a “No” is never easy. But it’s important to remember that a “No” isn’t the end; it’s an opportunity. The first step is to express gratitude. Thank your donor for their honesty and for not wasting anyone’s time with a proposal that wasn’t a fit. Next, dig deeper. As the late, great Bill Sturtevant advised, ask the donor: “Is it the project, the amount, or the timing?” These three areas cover most reasons a donor might decline. By understanding the specifics, you can address concerns or pivot to a different approach that better aligns with their priorities. Here are some probing questions you might ask: “Is this a timing issue? Would you prefer to revisit this in a few months?” “Are there other problems you’re more passionate about addressing right now?” “Is there a smaller piece of this problem that we could tackle first?” By leaning into the donor’s passion, you can uncover new avenues for collaboration and ensure that their interests are at the heart of your strategy. Step #9: What to Do When the Donor Says “Maybe So” A “Maybe So” is a sign of interest, but it also signals hesitation. Your goal is to understand the reasons behind their uncertainty and work to overcome any objections. Start by asking: “What excites you about addressing this issue?” “What concerns do you have about moving forward?” These questions can help you identify areas where the donor feels confident and areas where they need more assurance. From there, you can suggest small, easy steps that build trust and demonstrate your commitment to their goals. For example, propose collaborating on a vision statement that encapsulates what they want to achieve. This not only provides clarity but also ensures that everyone involved is aligned with the donor’s intentions. Step #10: What to Do When the Donor Says “Yes” A “Yes” is what we all hope for, but it’s important not to rush into next steps without fully understanding the “Why” behind it. Take a moment to celebrate this decision—it’s a significant step towards creating real impact. Ask the donor: “What makes you excited about moving forward?” “How would you like to proceed from here?” By clarifying their motivations, you can ensure that the next steps align with their expectations and that you’re both on the same page. This is also the time to start co-creating the plan, setting expectations, and outlining the specific steps you’ll take together. The Importance of Understanding the “Why” No matter the response, your ability to dig into the “Why” behind a donor’s answer is crucial. It’s this understanding that allows you to build a strong, lasting partnership and to craft a proposal that truly resonates with their values and aspirations.
Urgency and Momentum: A Fundraiser’s Two Best Friends
In the world of fundraising, there are two powerful forces that can make or break your campaign: urgency and momentum. These forces are not just buzzwords; they are the catalysts that can drive your fundraising efforts from good to great. As we continue our series on the 14 Steps of Successful Mega Gift Fundraising, let’s explore how you can harness these forces to achieve your fundraising goals. Step #11: Ready to Make the Ask? Here’s What to Do After weeks of planning, you’ve co-created a proposal with your donor. You’ve identified a big problem and crafted a compelling solution. Now it’s time to make the ask. But how do you go about it? The key is to approach the ask with confidence and clarity. Here’s a simple approach: Ask for Permission: Begin by asking the donor if they’re ready to review the proposal. This keeps the conversation collaborative and ensures the donor is prepared to consider your request. Example: “Mrs. Smith, we’ve worked together to develop a plan that addresses your top priority: solving X. I believe we’re now ready to put this into a proposal for your consideration. Do you feel like we’re in a spot for our team to present this to you?” Build Enthusiasm: Remember, your energy sets the tone. Show your passion for the project and make it clear why you’re excited. This enthusiasm can be contagious, encouraging the donor to share in your excitement. Tip: Use language that reflects your genuine excitement, such as, “Can you see why we’re so excited by this plan?” Create an Experience: When presenting the proposal, don’t just hand it over. Create an experience that shows the impact the donor’s gift will have. This could be a site visit, a special event, or a presentation that brings the proposal to life. Tip: Tailor the experience to the project. For example, if the project involves education reform, consider presenting the proposal in a classroom setting. Step #12: Handling a “No” with Grace Not every ask will result in a “Yes.” But a “No” isn’t the end of the road. It’s an opportunity to understand the donor’s concerns and refine your approach. Understand the Objection: Ask the donor why they’re hesitant. Is it the program, the amount, or the timing? Understanding the root of the objection allows you to address it directly. Tip: Use this question to guide the conversation: “Is it the program, the amount, or the timing?” Don’t Pivot Away: It’s tempting to avoid discussing the objection, but doing so can undermine the trust you’ve built. Instead, engage in a thoughtful conversation about their concerns. This shows that you value their perspective and are committed to finding a solution. Learn and Adapt: Every “No” is an opportunity to learn. Use the feedback to refine your proposal or approach. This iterative process can lead to a stronger, more compelling ask in the future. Step #13: When the Donor Says “Yes” When a donor says “Yes,” it’s time to celebrate—but that’s just the beginning. Here’s how to proceed: Celebrate the Decision: Recognize the significance of the donor’s commitment. This isn’t just about thanking them; it’s about celebrating the impact their gift will have. Understand the Motivation: Ask the donor why they said “Yes.” This helps you understand what resonated with them and can guide future engagement. Document the Agreement: Formalize the commitment with a gift agreement. This ensures clarity and sets the stage for long-term collaboration. Focus on Impact: Continue to emphasize the impact the donor’s gift will have. This keeps the donor engaged and reinforces the importance of their contribution. Building Momentum and Creating Urgency Throughout the fundraising process, urgency and momentum are your best allies. Here’s how to keep these forces at play: Urgency: Keep the focus on the immediate need for action. Highlight the consequences of inaction and the opportunity to make a significant impact now. Momentum: Build on every success, no matter how small. Use regular updates, personal engagement, and creative presentations to maintain momentum and keep the donor excited about the project.
Gratitude and Stewardship: The Recipe for Successful Fundraising
It’s the perfect time to reflect on the importance of gratitude and stewardship in fundraising. These two elements, when combined effectively, can make all the difference in nurturing long-term relationships with your donors. But what does it really mean to practice gratitude and stewardship in the context of fundraising? And how can you apply these principles to ensure that your organization continues to thrive? Gratitude: The Foundation of Your Donor Relationships First and foremost, it all starts with gratitude. Being genuinely thankful for your donors’ contributions is more than just good manners—it’s the foundation of a lasting relationship. Donors need to feel that their support is not only appreciated but also impactful. A simple thank you can go a long way, but it’s important to go beyond that. Personalize your gratitude. Let donors know specifically how their gift is making a difference. Whether it’s through a personalized letter, a video message, or a special recognition event, showing appreciation in a meaningful way can deepen the connection between your donors and your mission. Stewardship: The Key to Long-Term Success Gratitude is the beginning, but stewardship is what turns a one-time donation into a lasting partnership. Stewardship goes beyond just saying thank you—it’s about ensuring that your donors feel involved and invested in the success of your organization. Michael Lanzara, a colleague and expert in Mega Gift fundraising, emphasizes that true stewardship involves continuing the partnership you’ve built with your donors. It’s not just about reporting back; it’s about keeping the donor engaged and involved in the project they’ve supported. For example, if a donor has contributed to a specific program, invite them to be part of the ongoing development of that program. Keep them informed about progress, challenges, and successes. By doing so, you’re not just reporting on the impact of their gift—you’re inviting them to be a co-creator of the solution. The Power of Partnership One of the key insights shared by Mike is that donors who make significant contributions don’t want to just walk away after writing a check. They’re investing in the mission because they believe in it, and they want to see it succeed. This is where stewardship becomes a powerful tool. Mike shared a story about a donor who made a significant gift to support education. The donor didn’t just provide financial support; he also brought his expertise in marketing and innovation to the table. This not only enhanced the program but also gave the donor a deeper sense of involvement and satisfaction. By involving donors in this way, you’re not just ensuring the success of your programs—you’re also building a strong, lasting relationship that can lead to future support. Experiment and Engage Stewardship isn’t one-size-fits-all. It’s important to experiment with different ways to keep your donors engaged. Maybe it’s through regular updates, exclusive events, or opportunities to volunteer. The key is to find what resonates with each donor and to keep them actively involved. Remember, stewardship is about more than just financial contributions. It’s about building a partnership where both the organization and the donor work together towards a common goal. And when done right, it’s a win-win for everyone.
Do You Have a Dream? The Power of Bold Vision in Fundraising
I want to ask you a question: Do you have a dream? A Big Hairy Audacious Goal (BHAG) that drives you and your organization forward? A BHAG is more than just a lofty ambition. It’s a powerful vision that rallies people around a cause, inspires action, and leads to meaningful change. Today, I want to share two stories that illustrate the power of bold vision and challenge you to think about your own BHAG as you embark on this new year. Dr. Sidney Farber’s Bold Vision: Finding a Cure for Cancer In the late 1940s, the Variety Club of New England was touring Boston Children’s Hospital, looking for worthy recipients of their fundraising efforts. When they asked a doctor what he might do with a special contribution, his answer was practical: “I need a new microscope.” But Dr. Sidney Farber, a dedicated pathologist working nearby, had a much bigger vision. He didn’t just want a new piece of equipment—he wanted to find a cure for cancer. With the Variety Club’s funding, Dr. Farber founded the Children’s Cancer Research Foundation, which would later become the Dana-Farber Cancer Institute. Today, it’s one of the world’s leading cancer research centers, funded in part by the Jimmy Fund. Dr. Farber’s bold vision—to find a cure for cancer—wasn’t just about incremental progress; it was about making a significant impact on the lives of countless people. And that’s the kind of vision that attracts support and drives change. Dr. Martin Luther King’s Dream: A Vision for America Another story that shows the power of vision is that of Dr. Martin Luther King Jr. On August 28, 1963, during the March on Washington, Dr. King was set to deliver a speech that would become one of the most famous in history. As Dr. King began his prepared remarks, gospel singer Mahalia Jackson called out from the crowd, “Tell ‘em about the dream, Martin! Tell ‘em about the dream!” That simple prompt led Dr. King to push aside his notes and speak from his heart about his dream for America—a dream of equality, justice, and freedom for all. His “I Have a Dream” speech became a defining moment in the Civil Rights Movement and inspired millions around the world. Dr. King’s dream was not just a hope for incremental change; it was a vision for a transformed society. It was bold, audacious, and it continues to resonate to this day. What’s Your BHAG? I challenge you to think about your own BHAG. What bold vision will you pursue this year? How can you inspire others to join you in making a meaningful difference? People don’t want to give money away—they want to invest in bold, exciting, and inspiring ventures. They want to be part of something bigger than themselves, something that will leave a lasting impact. This year, let’s commit to going big. Let’s embrace the bold vision of leaders like Dr. Sidney Farber and Dr. Martin Luther King Jr. Let’s dream big dreams and work tirelessly to turn them into reality. Share Your Vision If you have a BHAG in mind, I’d love to hear about it. Sharing your vision is the first step in turning it into action. Together, we can make this year of bold leadership and transformative impact.
What’s Your BHAG? Turning Big Ideas into Bold Action
Have you ever heard of a “BHAG”? It stands for Big Hairy Audacious Goal—a concept introduced by Jim Collins and Jerry Porras in their book Built to Last: Successful Habits of Visionary Companies. A BHAG is not just any goal; it’s a clear and compelling long-term objective that’s so bold it inspires everyone around you to rally behind it. In the world of fundraising and leadership, having a BHAG can be a game-changer. It’s the difference between aiming for incremental progress and striving for transformative impact. Why BHAGs Matter Generous donors, especially in today’s world, are looking for more than just good causes—they’re seeking visionary leaders with bold dreams. They want to be part of something big, something that makes a significant difference. Think about Dr. Sidney Farber, the founder of the Dana-Farber Cancer Institute. His BHAG wasn’t just to buy new equipment or fund research; he promised to find a cure for cancer. That bold vision is why the Dana-Farber Cancer Institute raises nearly $2 billion annually and is recognized as one of the world’s top cancer hospitals. So, what’s your BHAG? How are you positioning your organization to make a big, audacious impact? A Real-Life Example: The Power of Visionary Leadership Let me introduce you to Dario Paya, a visionary leader from Chile. I’ve had the privilege of knowing Dario since 1992, and his story is a powerful example of what a BHAG can do. Dario was mentored by Jaime Guzman, a constitutional law professor and a political maverick in Chile. Guzman’s BHAG was to bring freedom to Chile and empower the poorest in society. He believed that true leadership required not just addressing the needs of the poor but empowering them through personal responsibility and freedom. After Guzman was tragically assassinated by far-left terrorists in 1991, Dario and others picked up where Guzman left off. They continued to build on his vision, focusing on leadership identification and training. Dario understood that to achieve their BHAG, they needed to invest in the next generation of leaders. Training the Next Generation Dario’s approach to leadership training is both innovative and intense. For example, the #LeadershipChallenge program he runs in Chile is designed to be emotionally engaging and competitive, pushing participants to their limits. The goal isn’t just to train—it’s to ensure participants learn how to win for their ideas. By focusing on short-term goals, teamwork, and competition, Dario’s program creates an environment where learning is both challenging and rewarding. And the results speak for themselves: many of the program’s graduates have gone on to become cabinet ministers, political leaders, and influencers in Chile and beyond. What’s Your BHAG? Dario Paya’s story is a testament to the power of a BHAG. It’s not just about having a big idea—it’s about putting that idea into action, inspiring others, and creating lasting impact. So, what’s your BHAG? How are you working to turn your bold vision into reality? Whether it’s leading a movement, transforming your community, or solving a significant societal problem, now is the time to think big and aim high. The world needs visionary leaders more than ever. Your BHAG could be the key to inspiring others to join you in making a real difference.
Are You Coming to the Rescue? Positioning Your Nonprofit for Success
In a world that often feels overwhelmed by troubles, the nonprofits that thrive are those that offer hope – a lifeline that donors are eager to grasp. This idea, shared by fundraising expert Mal Warwick, underscores a vital principle: when you present your cause as a solution to a pressing problem, your donors will respond. But how do you position your organization as the answer to your donors’ concerns? The answer lies in a powerful framework we’ve been discussing: the Problem-Solution approach. The Problem-Solution Framework: A Quick Recap Let’s explore the steps to introduce your Big, Hairy, Audacious Goal (BHAG) to potential donors. The journey begins with identifying and articulating a problem that resonates with your audience: What’s the problem you’re working to address? Is the problem relevant to your donors’ lives? How does it threaten their personal well-being or their family’s future? Once you’ve established the problem, the next step is to present your solution: What is your proposed solution to the problem? This step is critical. As fundraising pioneer Richard Viguerie emphasizes, it all boils down to one question: “What problem do you want to solve, and how do you propose solving it?” Positioning Your Solution But here’s where it gets even more interesting. It’s not enough to simply have a solution – you need to position your solution in a way that makes it stand out. That’s where Jack Trout’s concept of positioning comes into play. Trout, an advertising legend, introduced the idea that in a crowded marketplace, the key to success is to carve out a unique space – a position that your organization alone can own. What is your unique category? When someone thinks of your cause, what do you want them to associate with it? For instance, consider the enduring connection between Budweiser and its iconic Clydesdale horses. When you think of one, you think of the other. Similarly, when you think of Arnold Schwarzenegger, his distinctive personality and brand immediately come to mind. This is the kind of connection you want to create between your solution and your audience. Why Positioning Matters In every communication you send – whether it’s a fundraising letter, an email, or a program update – your goal should be to stand out. In a world where your audience is bombarded with information and distractions, you need to cut through the noise. As Jack Trout warned, there’s more choice than ever before, but less time. Your message needs to grab attention and hold it. This is where Viguerie’s Four Horsemen of Marketing – positioning, differentiation, benefit, and brand – come into play. These elements are your tools for ensuring that your solution isn’t just another voice in the crowd but the voice your donors want to listen to. The Challenge of Standing Out It’s a tough reality, but one worth acknowledging: what’s important to you and your team may not be as important to your donors. They’re busy, just like you. And they’re looking for reasons not to engage with your message. So how do you ensure they do? You make your problem their problem. You position your solution as the only solution. And you differentiate yourself so clearly that they can’t help but take notice.
Acts of Kindness and the Power of a Well-Crafted Offer
Remember Aesop’s fable, The Lion and the Mouse? It’s a timeless story that teaches us how acts of kindness can come full circle in unexpected ways. But what if I told you this simple fable also holds a profound lesson for us in the world of fundraising? Let’s explore this idea through a real-life story that recently made headlines. It all began with an early morning flight in 2020 when Dr. Ruth Gottesman and Dr. Philip Ozuah found themselves seated next to each other. Their conversation sparked a connection that would later result in one of the largest charitable donations in recent memory. The Lion, the Mouse, and a $1 Billion Gift As The New York Times recounted in a recent article, Dr. Gottesman and Dr. Ozuah shared stories of their childhoods, their careers, and their mutual commitment to helping children and families in need. This connection deepened over time, particularly when Dr. Ozuah went out of his way to care for Dr. Gottesman and her husband during the early days of the COVID-19 pandemic. Fast forward to December 2023, when Dr. Gottesman approached Dr. Ozuah with an offer of her own—a $1 billion gift to cover all future tuition costs for students at the Albert Einstein College of Medicine. Her motivation? To ensure that new doctors could begin their careers without the burden of crushing debt, and to broaden access to medical education for those who couldn’t otherwise afford it. This act of generosity wasn’t just about the money. It was about solving a problem that Dr. Gottesman saw as critical: the financial barriers that prevent talented individuals from pursuing medical careers. It was also about honoring a relationship built on trust and shared values. The Power of a Well-Crafted Offer So what does this story teach us about crafting the perfect offer in fundraising? Your offer is the benefit you promise to your prospective donors in exchange for their support. It’s the value proposition that convinces them to contribute to your cause. But as Dr. Gottesman’s story illustrates, the most compelling offers are those that address a real and pressing problem. In her case, the problem was the financial burden of medical education. The solution? A transformative gift that would eliminate that burden for future students. This offer was powerful not just because of the dollar amount, but because it was tied to a deep understanding of the needs and values of the donor. Crafting Your Offer: Three Key Steps As you take your Big, Hairy, Audacious Goal (BHAG) into the donor marketplace, remember these three critical steps: Identify the Problem: What issue are you addressing? Ensure it’s a problem your prospective donors care about. Propose a Solution: How will your organization solve this problem? Your solution should be clear, actionable, and compelling. Craft Your Offer: What benefits will your donor receive in exchange for their support? Make sure your offer is aligned with their values and the impact they want to make. By following these steps, you can create an offer that resonates with your donors and inspires them to take action. Looking Ahead: The Most Important Element of Your Fundraising Pitch As we continue to explore how to bring your BHAG to life, we’ll dive into the three essential components of any fundraising pitch: your offer, your creative, and your list. And next week, we’ll reveal which of these is the most important of all. Until then, remember that acts of kindness, like those shown by Dr. Ozuah, can build the trust and relationships that lead to transformative gifts.
