Relationships are the bedrock of fundraising. Often it’s who you know that determines whether you reach your goals. Trying to raise money without developing relationships with donors is one of the common fundraising mistakes.
Not only do you need to focus on finding donors who will support your vision for a project, it’s equally important to know how to cultivate relationships so people will want to donate to your cause.
It’s important to work hard at getting others excited about your idea so they want to support you. Engaging anyone and everyone with your idea is a key to success. Instead of directly requesting funding, simply tell people about your project and ask for their advice. Let your enthusiasm and passion show. People enjoy being part of a fun, intriguing project so don’t be surprised if you receive donation, sponsorship, and endorsement offers when you present your idea in a way that really moves others.
After receiving interest in funding your project, it’s important to prove your credibility to donors so they feel comfortable investing in you. Most donors are extremely savvy in business, so if you ask for more money than necessary they’re not going to trust you. Be sure to have a solid business plan in place so you can show them exactly how you will use their money. Knowing exactly where their investment will go makes people more willing to donate, as they want to ensure their funds won’t go to waste.
Fundraising mistakes can keep you from getting the money you need. Help your idea get the financial support it deserves by familiarizing yourself with these 10 common fundraising mistakes to avoid unknowingly making them yourself:
It’s important to have a strong pitch prepared you can present to donors at any time. This allows them to see that you’re both well-prepared and have a clear vision for their gift ─ two highly valued features. While you’re not expected to have every aspect of your plan ironed out, knowing what you’re doing and why it matters demonstrates a solid foundation.
Definitely do your best to present your idea to donors, but know when enough is enough. Don’t waste your time trying to push unwilling people to make a donation. Instead, focus your efforts on finding your next prospect to engage and build a relationship with.
Courses such as fundraising and grant strategies can help anyone working with nonprofits increase their effectiveness. That, along with other valuable courses, is included in an executive certificate in Transformational Nonprofit Leadership program available 100% online.
I am taking Principles of Leading Transformational Nonprofits and have enjoyed Dr. Ricke-Kiely's interactive online teaching style. Our virtual classes have been absolutely amazing. The classroom included tech support as well as classmates from other parts of the country. Dr. Ricke-Kiely's knowledge, experience and subject matter expertise were outstanding. Her ability to reference the other recorded lectures and bring them into our virtual lectures made things really come together. This course is a must for anyone in nonprofit leadership.