How much additional funding do you need to raise this year?
Do you know how much of these new funds you'll need from 'big donations' to guarantee your success?
I'd like to share a rule that will help you avoid large and costly mistakes in planning any funding expansion.
The rule is - in any funding campaign or expansion -
You need to get at least 50%+ of your total $ funding goal, from up to 12 donors, for your funding campaign to succeed.
It doesn't seem to matter what your raising money for, where the money is going to, or the size of your organization.
It’s always the big gifts that will determine the success of any fundraising campaign.
- So for example if you need to raise an additional $250K.
If you are able to find 50%+ of this $250K from up to 12 donors - that’s at least $125K - made up of donations ranging between $5-$125K - then to get the rest of the funding from donations of less than $5K if very possible.
But raise less than 50% from the top 12 donors, it becomes so much more difficult to fund the rest of the campaign.
The reason it seems to work like this is that donors intuitively know, according to the total funding goal, what donation level they fit into.
So if you can’t get the bigger guys to be giving at their appropriate level, it’s unlikely to get the less big guys to give at their level and so on.
In your year ahead, whatever level you need to increase your funding by - Remember the Rule of Twelve. Then the rest - with effort - can fall into place.
B'Hatzlacha raba raba,
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