7-Figure Fundraising

View Original

7 Steps for 7-Figure Fundraising

See this content in the original post

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)

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)

5. Make a Compelling Pitch (23:06)

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:

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.