Category: The Ask

Knowing When NOT to Ask

Posted by on in Fundraising, Stewardship, The Ask, UncategorizedLeave a comment
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Photo by Mwabonje on Pexels.com

Most would argue that in fundraising the million dollar question is when to ask. I’m not disagreeing, but I propose that the billion dollar question is knowing when NOT to ask. I know, I know – fundraising is about raising money and you can’t possibly raise money without asking – but you can strengthen the foundation for a future ask by waiting and just not asking.

Let me share two scenarios when you should NOT ask – feel free to use these examples when dealing with a board member or fellow team member who just can’t help themselves.

But, everyone is already here…
An organization had spent money to have a stewardship event – an opportunity to thank their generous donors for all they’ve given and share the successes their donations had made possible. The development team understood this, but the organization’s leadership was having a really hard time just enjoying the evening and sharing appreciation. “One little ask won’t hurt, there won’t be any pressure for them to give.” But, one little ask would change the whole mood of the room. The donors had been asked to attend as a thank you. In the end the development team won – no ask was made. Would someone have made a gift? It’s possible. But, they might not have made the next gift and they probably would have said no to the next invitation. You have to remember and be comfortable in knowing there are times that stewardship is what matters and knowing when that time is can be invaluable.

But, we have other/new stuff that needs support…
I was working with an organization who was preparing a stewardship e-mail to update their donors on how their Give Day gifts had been used to change lives. Give Days offer a unique opportunity to get new donors, but keeping them engaged and turning them into continued supporters can be tricky. The nonprofit asked, “Can we talk about the exciting things we have coming up that we’ll need them to support?” The answer – no. No, just thank them and tell the story of how their gift changed the world. The news about what comes next can come in later communications. For at least one communication, focus on showing them the impact they made and how grateful you and your constituents are for their support.

According to Penelope Burk’s research, 80% of donors say that a prompt meaningful thank you and additional communication that explains how the donation was used would convince them to make a second gift to an organization. Her research also tells us that 65% of first time donors don’t make a second gift – seems like the lack of follow up and stewardship could be the problem.

Donors need to know that we appreciate them for the gifts they’ve already made and they will never know that if we ask every time we see them. I challenge you to step back and make sure you know when to ask, and possibly even more important know when NOT to ask.

Don’t Say “No” for Your Prospect

Posted by on in Communications, Fundraising, The Ask, UncategorizedLeave a comment
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Who could say “no” to this face at Satchel’s Last Resort? 

Me: “Let’s brainstorm on who might invest in your social enterprise startup capital.”

NPO: “We should ask Mrs. Brown. She’s a great prospect for this. But then again, now isn’t a good time for her because she has moved recently. And, she makes a generous gift to our golf tournament. And, she might not like this because she is passionate about our mission and this is a business enterprise. So let’s not put Mrs. Brown on the list.”

This is a common conversation when I start working with the nonprofit organizations who are part of the Margin Mission Ignition initiative of The Patterson Foundation. I guide them through the process of making a prospect list for their new social enterprise. These prospects will be cultivated and if they indicate an interest, they will be asked to make a donation to invest in the business enterprise.

Too often, the staff and volunteer members of the team come up with great prospects but then talk themselves out of cultivating them for one reason (excuse) or another. In other words, they are deciding “no” for the prospect before they’ve even talked to them about the innovative and mission-sustaining business enterprise.

It’s not our job to say no for the prospect.

So what is our job? I’m glad you asked, because I’ve got some ideas:

  • It’s our job to talk to everyone we encounter about this exciting venture. I like to borrow the concept original to Gail Perry in “Fired Up Fundraising…”: the board should be sneezing. If your organization is embarking on a business planning process for an earned income venture, you should be talking to everyone you know about it. Picture sneezing and spreading your message all around – yes, I too was grossed by the visual at first.
  • It’s our job to share our enthusiasm. Creating an earned income strategy is an exciting undertaking and that should be shared with the people inside and outside your organization. It’s an opportunity to create a mission-sustaining income stream. What supporter wouldn’t want to know the organization they love will be sustained for years to come?
  • It’s our job to cast the vision. Business planning is a forward-looking process. Your organization has given it a lot of thought and it is part of a larger vision for the future of your nonprofit. Don’t keep all that to yourselves. Share it with those who are passionate about your cause.
  • It’s our job to invite them to be a part of the life-changing work of your nonprofit. Many times we are so close to the work of our organization that we forget that every day we are saving lives, changing lives and making our communities better places to live. When we ask for an investment in the business enterprise, we are inviting the donor to be part of that life-changing work.

When we decide “no” for a prospect, two bad things happen. First the prospect misses the opportunity to be a part of the amazing work of our nonprofit. Second, our nonprofit misses out on much-needed financial support. Next time you find yourself thinking of all the reasons a prospect might not support your nonprofit – STOP. You’ll be glad you did and surprised how contagious your enthusiasm can be.

A quick note: this blog was written for The Patterson Foundation’s blog. If you’ve never read it, you should. It’s loaded with great information.

Mind Your Manners (and Other Practical Tips for Calling a Prospective Funder)

Posted by on in Donor Relations, Foundation Giving, Major Gifts, Nonprofit Sector, The Ask1 Comment
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Photo by Negative Space on Pexels.com

Calling a prospective funder shouldn’t just be another phone call to quickly check off your to-do list. At the point of actually picking up the phone, you should be confident the funder is open to your communication (Call Me… Maybe: Determining If You Should Call a Foundation Prospect) and have spent time researching and preparing to make the call (Wait, Don’t Just Pick Up the Phone). Now (and hopefully only now) is the time to actually make the call.

Remember – this is not just any old call. This call could be the beginning or the beginning of the end of a great relationship with a funder for your organization.

Here are tips to make the most of the call.

Be Ready to Talk Now or Later

When you make the initial phone call, you may or may not get through. Be ready for either scenario. First, if you get through to the funder and they say, “Let’s talk now” be ready to go. This does not happen often, but you have to be ready for it every time. Conversely, if you get voice mail or talk to a gatekeeper, be ready to explain why you are calling and make an appointment to connect at a later time.

Location, Location, Location

One wonderful benefit of our modern, connected world is our ability to conduct business from anywhere – coffee shops, sporting events, and conferences. This however is not one of those times. Find a quiet, private place and make sure those around you know that you are not to be interrupted for the duration of the call.

Be Prompt and Respectful of Their Time

Place the call on time and be respectful of the time allowed for the call. If you asked the funder for 20 minutes, stick to that. When the allotted time has passed, you can ask if they are able to keep going, but be prepared for them to say “no” and conclude the call.

Smile!

This might sound silly for a phone call, but it really matters. If you smile while you are talking, it will show in your voice. Practice this on a family member if you are skeptical. The smile in your voice projects a positive attitude and shows your enthusiasm.

Be Enthusiastic

Avoid the trap of being “all business” and not letting your passion come through during the conversation. Make an effort to find the inspiration that you need. Consider a photo of the ultimate beneficiary of the mission – that might be an animal that will be rescued or a child that will be educated.

Manners Matter

You’re building a relationship and first impressions matter. Remember the little things:

• say please and thank you,
• don’t interrupt,
• listen carefully to their answers,
• speak in a clear voice.

Take Good Notes

This conversation is where you can ask for answers and clarification to the questions left unanswered by your research. As you ask your questions, take good notes. Make note of any questions the funder has of you and be sure to record any promises you make or any information you need to provide following the conversation. If you are asked a question you can’t answer, don’t panic and just be honest. Explain why you don’t have that information and offer to find out and follow up as soon as you can.

Ask for Clarity

If you are asked a question you don’t understand, speak up and ask for clarification. The nonprofit sector is filled with jargon and the funder might use terms you haven’t heard before, ask for a definition. Sometimes we are afraid to admit we don’t understand something for fear of making a bad impression. It’s much better to understand than to answer incorrectly on the application when the funder feels they told you what they wanted.

Finish Strong

As you conclude the conversation, review anything you promised to provide and confirm your next steps. Hopefully, you have determined that they will consider your grant application so confirm the deadline. If you determine that a grant application is not appropriate, restate any follow-up action that is appropriate. No matter the outcome of the call, thank them for taking the time to talk to you.

Follow Up

A thank you/nice to meet you note is always appropriate to send after a call. If the funder requested information be sure to follow up and provide it within the agreed upon timeline. If someone else has the information, contact them immediately and confirm that the deadline is appropriate.

The funding community is smaller and more connected that most people think. So while it’s true that if you know one funder, you know one funder – they also talk and a good impression on one can translate to introductions and a good reputation among many funders. Taking the time to do your research about the funder’s process; researching what you can on your own while preparing; and making the most of your time while on the call can make a big difference not only on this particular opportunity but perhaps even more opportunities in the future.

Wait, Don’t Just Pick Up the Phone

Posted by on in Donor Relations, Foundation Giving, Fundraising, Major Gifts, The Ask1 Comment
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Photo by Pixabay on Pexels.com

 

So, you have decided to move forward with a call to a prospective foundation funder (after considering this information we shared in our last post, Call Me… Maybe: Determining If You Should Call a Foundation Prospect).

The most important thing to remember: the contact you make with a potential funder can make or break your grant application before you write a single word.

That being said, prepare and prepare some more. Do your research on the funder and the person to whom you will be speaking. Think of this as you would a job interview. Just as you present your best self during an interview – for this conversation, you want to do the same for your organization. Here are five things to consider during your preparation.

Only Ask Questions You Couldn’t Find Through Research

Before you make a call, seek to find the answers to your questions using the funder’s website and third-party sites like GuideStar. If you use a phone call or meeting to ask questions that you could have answered with a little research, you will have wasted the funder’s time. That will make a terrible impression and likely have a negative effect on any future grant applications.

Anticipate Objections

After doing your research, think of possible objections the funder might have to considering a grant request from your organization. I once met with a funder who assured me he would never fund an organization as large as mine. I quickly explained that the program actually benefited grass roots organizations that were the sweet spot for this funder. I was only ready for that because I had done my research and anticipated the objection.

Make the Most of Your Time

Go into this conversation knowing that this could be the only time you talk to the funder. Never think, “I’ll ask that next time” because there might not be a next time. Prepare thinking, “this might be my only shot” and make the most of your time while being respectful of their time.

Prepare an Elevator Speech

Don’t wing it. Even if you are good at extemporaneous speaking, this is not the time. Prepare a two-minute elevator speech that summarizes your organization and your request. End with, “Does this sound like something in which your foundation would have an interest in learning more about through a written proposal?” Once you ask the question, stop and listen carefully to their answer.

Practice

After preparing but before dialing: practice. Find someone outside your organization and practice your questions and elevator speech. Use a stopwatch and make sure you are getting it done in the time allotted.

This may seem like a lot of work to make a phone call, but you only get one chance to make a first impression. This could be the start of a long and worthy relationship for your organization – that alone makes it worth the effort.

Next time, we’ll talk about actually making the call and how to make the best impression possible in a short amount of time.

Call Me… Maybe: Determining If You Should Call a Foundation Prospect

Posted by on in Donor Relations, Foundation Giving, Major Gifts, Nonprofit Sector, The Ask1 Comment
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Photo by Pixabay on Pexels.com

To contact or not to contact? That’s the million-dollar question (okay, let’s be realistic – the $40,000 question). You’ve identified a new private foundation that might fund your organization, so you want to make contact with them right away and tell them all the ways your organization is a great investment opportunity for them. Now’s the time to stop and make sure it’s the right thing to do.

Raising money from private foundations certainly has some things in common with other types of fundraising, but there are some major differences. One major difference is whether or not to contact a funder before submitting a grant application. The three steps below will help you determine the best course of action before you pick up the phone.

Before deciding to contact a prospective funder, determine if calling them is an appropriate option. You should consider these scenarios before picking up the phone.

When Not to Approach

  • They Ask You Not To
    If the funder has specific instructions not to contact before applying, don’t! Each funder has their own specific process for receiving applications. Research the funder to determine if they are open to discussing your application before its submission.
  • You’re Not a Match
    Don’t approach the funder if your project does not meet the criteria they have for funding. For instance, you might be within their program specifics but outside their geographic boundaries. Or your request for general operating support or capital campaign funding does not fit their type of giving.
  • They Have a Letter Of Intent/Introduction Process
    In the vast majority of cases, if a funder has a Letter of Introduction or Letter of Intent process, they want that process to be the initial contact. Be considerate of the funder in this case. An LOI is a fairly simple document that will most often give the funder an opportunity to learn more about your organization than through a phone call. Be respectful of the funder’s time by making the LOI your first inquiry.

This may seem like overly simple advice, but many times in our enthusiasm for our cause we overlook the obvious.

When Approaching is Okay

  • They Accept Calls
    As you do your funder research, pay attention to how they accept contact. Some funders are open to phone calls, some will have meetings, while others do not allow any contact before an application. If they state that they are willing, then you are safe to reach out.
  • You Are Connected
    Foundations are staffed by people and people have connections. When you have identified a potential funder, review the list of their staff and board members. Show the list to your organization’s board members to see if they have any connections. If you identify a connection, ask them to reach out on behalf of your organization or to make an introduction.
  • You Have Specific Questions
    Just because a funder will accept calls, don’t make the assumption that you should make the call. Only make the initial outreach if you are prepared and have specific questions. After you carefully review their published materials and their website, determine what additional information you need from them to complete your application. When you call, you want to make the best impression – so be prepared.

If you attempt to contact a potential funder and are not able to reach them or don’t receive a return phone call, take that as their way of saying, “we don’t want to have a conversation with you until you submit an application.”

Next time we’ll discuss what to do if you decide to move forward with making a call and share tips for preparing.

Crash In Turn One of a Major Gift Cultivation

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“Crash in turn one” – that’s one of those phrases that no race fan wants to hear. At this year’s 99th running of the Indianapolis 500, it was a crash in turn one of lap one. That means that after spending the month of May getting ready, the 500 mile race was over for one team after less than one mile of driving. This brings to mind a famous quote, “You can’t win the Indianapolis 500 on the first lap but you can lose it.” The whole race is about patience. That has to be hard for drivers who are going 200+ miles an hour. But it’s a long race and in order to lead the last lap you have to get through the first lap.

This philosophy also applies to major gift fundraising. Major gifts can’t be raised the first time you meet a prospect but they can certainly be lost. If you make a misstep on that first meeting, you will never gain the trust of your prospect and never find yourself at the finish line: a major gift. Here’s what a major gift cultivation “crash” looks like:

  • too much talking about yourself or your organization and not enough listening to your prospect,
  • making it all about raising money and not looking for ways to engage the prospect in your organization’s mission,
  • asking too soon.

If there were an announcer in my career, I think that I would have heard those disappointing words a time or two: “Sara Leonard has worked hard to get this meeting and engage this prospect but she has crashed in turn one.” Fortunately I learned from those mistakes. Has this happened to you?

A Lesson About The Ask

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Image: BN.com
Image: BN.com

My then ten year-old daughter asked to go to Barnes and Noble on a school night after we had gone out to eat. Her younger brother’s baseball game was the impetus for the dinner out so we were already behind schedule for homework, baths and bedtime. My answer was “no.” When I asked if she thought I’d say yes, she admitted she knew the answer would be “no” but asked anyway just to be sure.

Does that sound like something we may do with our donors sometimes? We are pretty sure it’s the wrong ask but we do it anyway. What makes it the wrong ask? It could be the wrong project, the wrong amount, the wrong time for the donor.

So why do we go ahead with the wrong ask? Often it is the pressing needs of our organizations. We are doing good work. There are people to help, animals to save, diseases to fight. While all of this is very important, we can’t put it ahead of the donor.

By spending time on cultivation and creating the right proposal – we move closer to a yes. When we go ahead with the wrong ask, it will be a bad experience for the donor, for us and ultimately for our nonprofit’s mission.

Cultivation – by getting to know the prospective donor, we learn more about when the time will be right for them to make a gift. We learn where their passions lie and can work together to find the best fit for them in our organizations.

Creating the proposal – by carefully crafting a proposal, whether it’s formal or informal, we paint a picture of how this prospect can join us in making the world a better place.

My daughter knows that some nights I will happily go to Barnes & Noble. It has coffee, books, we see friends. What’s not to love? That was the proposal and she knew it had a shot with me. But she also knows that on a school night, we have to get home and don’t have spare time for browsing through a bookstore sipping lattes. But she chose to ask when she knew the answer would be no because she put her needs as the top priority. Since she was only ten, we can’t fully blame her. As development professionals we know better.

Search for the place where the prospect’s values and passion intersect with the mission of the organization. When you find that intersection, ask. You will get the answer you want – YES!

Originally posted on the Nonprofit Leadership Center of Tampa Bay blog.