As explored in Part 1 of this 2-part series, small to mid-sized organizations are uniquely capable of creating a sense of community, even family. This is what people yearn for. And it gives you a secret advantage when it comes to nurturing the relationships essential to developing and sustaining a strong mid-level and major gifts…
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If you’re a small to medium-sized organization or movement, especially if you’re local, you’ve got an unfair advantage over your larger compatriots in the social benefit sector. Perhaps you’ve never loed at it this way. Perhaps you fret about not being able to compete with the behemoths. Perhaps you’ve been waiting to hire a major…
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A couple of years ago I wrote about 4 Strategies to Listen so Others Will Talk, noting the secret to building authentic relationships is to use your two ears and one mouth in that proportion.
It’s a good start, but there’s more.
You can’t just listen passively.
Active listening, supported by powerful, succinct, to-the-point generative questions – that’s what will draw you and your donor (or anyone with whom you’re in relationship) closer together.
But not all active listening is created equal. And you may think you’re actively listening, when really you’ve listened for a hot minute; then gone down your own rabbit hole of reality.
In that rabbit hole, you become the narrator. It thus becomes your story, not the donor’s.
Uh, oh.
Today we’ll explore how to draw your donor out so you truly hear their voice and sense their emotions, not your own.
This is something I value, as an outsider looking in.
I’m not good at it.
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On will makers are everywhere you lo these days. From FreeWill, Rocket Lawyer, Trust & Will and GivingDocs to the comprehensive LegacyPlanner, it feels like everyone is offering their own version. And sometimes it seems like they all just appeared overnight, too. But the truth is, the industry has been around for decades — both…
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Have you ever wondered how major donors think about philanthropy?
To a large extent, they think about it the same way as anyone else. They just have more money.
It’s good to remember major donors are, first and foremost, just people.
And like all human beings, they are on a continual quest for meaning. It’s the existential search to be all that one can be.
And you can help them!
You (as executive management, development staff or board member) are a facilitator of philanthropy. Your organization exists, in part, to facilitate your donor’s quest for meaning and teach the joy of giving. To do this effectively, you must be attuned to your donors. And, since the wealthy have the ability to make a larger impact when it comes to furthering your mission, you especially must be attuned to these folks.
NOTE: I am not suggesting you eschew small gift fundraising. All gifts are important, and some of your smaller donors will likely engage in other critically important ways as well. They may become ambassadors, advocates, inlfuencers, volunteers and even legacy donors. You never want to put all your eggs in one basket. At the same time, it’s smart to develop a strategy to unlock giving from those who have potential to make transformative gifts.
In the past I’ve looked at six major donor philanthropic triggers. You need to know about these things, because if you can key into any of them you’ll have a strong basis for pursuing a major gift from the prospect whom you’re approaching:
Today I’d like to review six more things you should be on the lookout for; then I’ll suggest four strategies to help you enter into your prospective donors’ worlds so you can make a win/win match – one that will help your major donors simultaneously help your cause and themselves.
Coincidentally, I found a back issue of Lifestyles Magazine from 2008 (yes, I’m a bit of a hoarder) and was struck by some of what the publication had to say—a veritable peek inside the minds of major donors. There’s a clue right in the way Lifestyles (now out of publication) describes their mission (highlights are mine):
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“If you don’t know where you’re going, any road will take you there” – Lewis Carroll This is actually a paraphrase of an exchange between Alice and the Cheshire Cat in Alice’s Adventures in Wonderland. I use it often to encourage people to develop and stick to a plan. Lewis Carroll, on the other hand,…
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When you’re not aware you’re making a mistake, it’s hard to avoid it.
So let’s get curious. I’m going to ask you to close your eyes for a minute to imagine a donor you’ve been wanting to ask for a major gift. I’m going to ask you to visualize a space where you’re meeting. Put them in your office, their home, a café or even a Zoom screen. Choose what’s comfortable, and where you think you’d be most likely to meet with this donor within the next month or so.
Okay… do you have your donor and your meeting space in mind? Excellent!
Now, before closing your eyes, commit to visualizing these four things:
Okay, are you ready to close your eyes? Even if this feels a little weird, why not give it a try?
EXERCISE: You can do this by yourself, but it works better if you do it in a pair. Find a co-worker, friend or family member to prompt you to close your eyes and take a few deep breaths. Notice if you’re holding tension anywhere in your body. Relax those areas (forehead; neck; shoulders; hands; belly; thighs; calves; feet). Now have them ask you the following questions:
(1) Pick a donor to meet with.
(2) Pick your meeting space.
(3) Pick an additional person to support you in the room (e.g., program director; subject matter expert; volunteer; executive director; board member; other donor). Describe who they are, and how it feels having them there.
(4) Open the conversation. What are you saying to them? What are they saying back? What’s their body language? Are their eyes lighting up? Are they smiling? Leaning forward? Play this scenario out just a bit, until you get to a place of comfort or discomfort.
Then open your eyes.
What felt comfortable to you? Uncomfortable? Did it feel more comfortable and pleasant than you may have imagined?
Smiling people, committed to the same cause, hanging out in a comfortable space together…. from such a space can come many good things.
Take a few minutes to journal some answers to those questions. I guarantee this will help you shift the energy for the next time you move into this space – in real time – with a donor.
It’s not fatal; you can correct it. But first you have to recognize it happened!
Mistakes in major donor conversations generally arise when you don’t know enough about the donor, or vice-versa. That’s why there are two kinds of major donor visits:
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You don’t just roll out of bed one day, randomly go visit a major donor prospect and ask for a random amount. At least not without a boatload of advance preparation. Right?
It’s a lot smarter to begin at the beginning.
And then take it step by step from there.
According to a plan.
A plan to secure BIG gifts for you BIG mission.
It’s always a great time to review what you can do to get yourself and your solicitors (staff and volunteers) ready to make win/win matches between your organization and your prospective major donor/investors.
Ready for some A, B, C’s?
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In my last article, It’s Fundraising Malpractice Not to Build Future Reserves, I introduced the subject of having both an organizational checking and savings account so you don’t risk going belly up when people rely on you. I talked about building a case for endowment and bringing your board on board. Then I tried to…
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Just like it’s prudent for individuals to have both a checking and savings account, it’s prudent for nonprofits to have both operating funds and endowment reserves.
Living paycheck to paycheck is less than ideal, especially when constituents rely on you for services that really matter. Seriously ask yourself:
If your answer to any of these questions is affirmative, you’re living on quicksand. When you’re not actively safeguarding your future, you’re robbing your community of precious resources.
Does this sound like a prudent, caring way for your nonprofit to behave?
Not if you see yourself as a community.
Without caring, you’re just a zip code or a building, not a community.
Make this the year you demonstrate your caring by planting seeds for future harvests.
You can’t care for people, animals, places, things or values without nourishment and fuel. As a recipient of philanthropy, it’s your job to steward the resources others give so you’ll be there for the community when they need you most.
You fail.
Your community fails too.
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