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Fundraising the SMART Way. Predictable, Consistent Income Growth for Your Charity + Website. The AFP/Wiley Fund Development Series

  • ID: 2708373
  • Book
  • April 2014
  • Region: Global
  • 272 Pages
  • John Wiley and Sons Ltd
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Start a fundraising revolution within your organization

A part of the acclaimed AFP Fund Development Series, Fundraising the SMART Way + Website describes in detail a formal methodology that provides the management controls so sorely needed to acquire and sustain funding in a significantly more rational, objective, and productive manner. These techniques don′t merely fix problems; they also open the door to innovation. This book is about revolutionizing the fundraising function through the classic elements and disciplines of performance, or as its often called, process management. Author Ellen Bristol built on the successful foundations of Six Sigma and LEAN methodologies to create The SMART Way , a set of business rules, guidelines, performance metrics, and other management controls that provide measurable improvements in sales profitability. Her system is now fundamentally changing the way nonprofits and other organizations approach fundraising.

The SMART Way model establishes two critical components that tend to be ignored, overlooked, or under–valued. When you can document and quantify these two components, capture data against them, and then cross–reference the data, you will be far more capable of maintaining high levels of productivity, management control, visibility, and accountability for all engaged in the fundraising effort, including peer solicitors and even donors themselves. Here are the two critical components:

  • The Ideal–Funder Profile: a benchmark for each category of funder (donor, grant maker, corporate giver) that lists factual, quantitative characteristics of your ideal funder; qualitative or values–based characteristics; and the danger signs that suggest that some donors, assuming you were to win them over, may cost more than they are worth. A complex benchmark of this nature provides clear guidelines about which donors justify the most investment of time and effort, and which do not. In the SMART Way model, we call such profiles Scorecards.
  • The Donor Moves: milestones that locate the gift/grant opportunity in the pipeline based on the donor′s giving process, rather than your team′s getting process. Virtually all gifts and grants evolve through a short, predictable, unvarying series of milestones that provide effective performance indicators, both leading and trailing.

Fundraising the SMART Way + Website will teach you to wrap your organizational arms and minds around the persistently stormy nature of the fund–development climate, and how to prevent tsunamis, hurricanes, and tornados in favor of balmy breezes and warm climes, a fund development world where what you want to happen, happens.

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Preface xi

Acknowledgments xv

Introduction Why We Need a Fundraising Revolution 1

Fundraising the SMART WayTM 4

How It Works 5

Results from the Leaky Bucket Study 6

Statistics from the Leaky Bucket Assessment 8

The Four Laws of Performance Management 11

Target: Consistent, Predictable Income Growth 14

Effective Fundraising as Competitive Advantage 16

Adopting the SMART Way Model 19

PART ONE Which Funders Are Right for You? 21

CHAPTER 1 The Context for Fund Development 25

What Should It Cost to Achieve Your Mission? 26

Analyzing the True Cost of Your Mission 30

Your Opportunity Risk Factor: The Real Value of Your Time 31

What Makes Your Best Funders Best ? 34

Your Unique Value Proposition: The Value in Value–Added 36

What We Covered 42

What You Can Do 42

CHAPTER 2 Funder Selection Strategies 45

Why Your Best Funders Support You 47

The Exchange of Value 55

Applying the Exchange of Value 59

What We Covered 60

What You Can Do 61

CHAPTER 3 Building Your SMART Way Prospect Scorecard 63

Nine Scorecard Principles 66

Crafting Scorecard Statements 72

Scoring the Prospect 80

Scorecard as Management Control 82

What We Covered 84

What You Can Do 85

CHAPTER 4 The Scorecard as a Management Control Device 87

Using the Scorecard to Manage the Fundraising Process 88

Validating the Scorecard 89

The Suggested Probing Questions 92

Developing Your Questions 96

Field–Test the Scorecard 101

The Control Part 105

What We Covered 106

What You Can Do 106

PART TWO Defining the Fund Development Process 109

CHAPTER 5 The Fund Development Pipeline 113

Pipeline Basics 114

The SMART Way Pipeline Revolution 116

Process Management for Nonprofits: A Primer 117

Moves Management versus the SMART Way 118

Eliminate Process Boundaries or Add Them? 120

Development Drivers 127

What We Covered 129

What You Can Do 129

CHAPTER 6 Setting Performance Targets 131

Everything You Ever Wanted to Know about Continuous Improvement 132

Assigning Targets 135

Good Targets, Bad Targets 139

Move Zero Targets 141

Performance Targets and the SMART Way Scorecard 145

Targets for Development Drivers 149

What We Covered 150

What You Can Do 151

PART THREE Implementing Fundraising the SMART Way 153

CHAPTER 7 Reporting and Leading for Better Results 157

Leadership 101 158

First, There is a Mountain . . . 159

Vertical versus Horizontal Reporting 159

SMART Way Reports 163

Enlightened Leadership Practices 166

Tracking Donor Move Targets 171

Reading the Story the Numbers Tell You 173

What We Covered 174

What You Can Do 174

CHAPTER 8 The Breakthrough: Continuous Improvement 177

The Plan–Do–Check–Act Cycle 178

Root–Cause Analysis Done Right 179

What We Covered 200

What You Can Do 201

CHAPTER 9 Applying SMART Way Methods to Mass–Market Fundraising 203

Selling to Major Accounts versus Transactional Selling 204

The Majors versus the Minors 206

To Find Donors, Stop Looking 208

Mass–Market and Target–Market Fundraising 214

SMART Way Management Controls 216

What We Covered 218

What You Can Do 218

CHAPTER 10 Radical Thinking about the Fundraising Revolution 221

Fundraising and the Russian Revolution 225

Adopting the Mind–set of Potential 228

Revolutionizing the Way We Manage Performance 229

Implications for Information Technology 235

Implications for the Governing Board 237

Parting Remarks 241

About the Author 243

About the Companion website 245

Index 247

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Ellen Bristol
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