7 Steps for 7-Figure Fundraising
In this episode we look at what are the key steps for growing your fundraising.
1. Ask Donors Only Once a Year (1:22)
This is how major donors organize their giving
Match your ask to their timetable
Don’t nickel and dime your major donors by asking them for a big donation and later asking them for smaller donations or sponsorships.
2. Treat Donors Like Partners (5:05)
Poverty versus the Partnership Mindset
What does treating a partner look like
How to create a great thank you letter: 5-Sentence Thank You Letter
Creating a 100 day plan for new donors, see Episode #35 - How to Never Lose a Donor
3. Add a Few New Partner Donors Each Year (12:00)
You don’t need hundreds of new donors. A few can go a long way
Focus on warm leads
Referrals - ask your donors for only one referral
Script to use: "Is there one person, who is like you, that I should talk to about supporting our work?"
Referrals have some of the highest close and retention rates for new donors
4. Have a Big Vision (17:49)
Why is this important?
If you are trying to figure out your Big Vision
Think about 1 year first
Then 2, then 3
5. Make a Compelling Pitch (23:06)
Nonprofits are complicated and do lots of great things, but sometimes it's hard to explain everything
How to talk about your work and make it memorable
Watch an overview video of our 8-Step Pitch Template
6. Execute on the Big Vision (30:17)
Execution is just as important as a big vision
Build trust with execution - show you are doing what you say
Books on building systems for execution:
Traction by Gino Wickman
4 Disciplines of Execution by Chris McChesney and Sean Covey
7. Staff with Fundraising Specialist (33:04)
Connector - the person who reaches out to prospects and works on securing a first meeting.
Closer - the person who meets with donors and makes the ask
Cultivator - the person who manages the donor relationship throughout the year, ensuring they are getting a 5-star experience from the nonprofit.