Need to Fundraise? Plan Ahead
The whole process of fundraising can be overwhelming for any party that wishes to do so, particularly if they haven’t planned. Fundraising for organizations is much easier with a well-executed plan to avoid guesswork, misappropriation, and last-minute rush. If you need to fundraise, plan ahead.
A Fundraising Plan is a Foundation for Success
Whether you are an individual or a group of individuals, and regardless of the amount of money you want to raise, fundraising without a plan can turn into a nightmare.
Not having a plan can lead to total failure, or at best, you might not raise as much as you expected. You might also want to extend your fundraising activity to include other agencies and organizations.
Given this, you’ll need ample time to devise a fundraising program that brings more money and guarantees the success of other fundraising activities you might conduct in the future. A fundraising plan is meant to give you the necessary details so that you may determine and focus on the areas that matter.
What Constitutes a Fundraising Plan?
A fundraising plan basically constitutes the following major elements:
- Raw materials
- Project executors
- Follow up strategy
Goals for Planning Ahead
Devising a fundraising plan starts with a solid understanding of all elements that you hope to achieve. Fundraising for organizations is particularly complex because it calls for more explicit goals.
Some guiding questions that can help you maneuver through this step include:
- What amount do you hope to achieve?
- By what date do you hope to have achieved your target?
- How many donors do you target for the activity?
- How will you contact the donors?
- What fundraising strategies can help you retain donors for the future?
Depending on your needs, have a specific target on the amount you approximate to serve your purpose. The target amount should guide you into determining the number of donors and the time with which the target might be achieved.
If you forget to add anything to the goal list or if you want to adjust anything, you can always revise the plan. There’s no limit to the number of times you should revise your goals; do it until you’re satisfied.
Remember that your goals must be SMART: Specific, Measurable, Achievable, Realistic, and Time-bound.
How do you want to raise money? Will you be selling candy, candles, or anything else that you’ve seen others try? The major secret to this step is to find products that best suit customers’ needs. You might also want to fundraise with fast-moving products, which are used on an almost daily basis.
Take an example of laundry detergent. Ultimately every person or every household uses a detergent for their laundry. And even if you’re targeting support from other organizations, you’ll find that they also use laundry detergent.
Another factor that you need to consider is the cost of the products you’ll be using. Sure enough, you don’t want to consume most, or all the fundraising proceeds when paying for the products used. It would be great if you can also get the product in bulk or rather in wholesale as it will help to further reduce the costs.
Sometimes it’s possible to fundraise on your own, but other times it becomes necessary to seek a helping hand. The services of a professional by far outweigh do-it-yourself services.
A professional will help from the initial step of planning the fundraiser to the execution of the project. They’ll employ professional strategies to make your supporters look forward to the next fundraiser. Professionals also have a broader network of options when it comes to finding supporters. They can easily access foundation or government grants, and other groups that might be demanding to pursue as an individual.
Attaining your fundraising target should not be the end of your journey. Following up with the supporters is perhaps as equally important as the fundraising activity itself.
Have a plan in place to thank your supporters for their time and contributions. You can either call them over the phone or send them emails to thank them. Either way, ensure that the messages sound genuine.
Supporters will feel valued and feel that their contribution was appreciated. Following up will also help to maintain a cordial relationship with the supporters going forward.
Fundraising can be challenging and at the same time easy, depending on how you approach it. Maybe the reason you’re struggling with your fundraising is that you didn’t have a concrete execution plan.
You can always trust uScore Fundraising in such related activities. We guarantee you a 100% score on your fundraising goals.