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I Wanna Be Like You-oo-oo – Ballou, The Jungle Book
You have become an expert funding model examiner. You read over the ten models of funding, and have identified peer funding models that you think would be a good inspiration for your organization to raise funds. Let’s take a closer look at your findings and consider the following three questions:
Does your peer model fit the three defining features – type of funding, funding decision makers, and their motivations? Would that organization’s funding model appeal successfully to your relevant funding decision makers? Would it tap into the same motivations that your decisions makers operate from? Would you need to make any changes to your program model in order to make a better fit with that model – adjusting existing programs, adding new programs, serving different beneficiaries, or expanding to new locations? Would your organization be willing to make those changes, would it be worthwhile?
Do you have the capacity to fund development capabilities? Can you cultivate those wealthy donors, or manage the complexities of government contracting? Could you develop those capabilities, and is your organization willing to do so? Does tis mean new hires, new strategy, new training?
Does the fundraising model match your organizational goals? Will this model help you achieve the goals you set when you began this search? Will it get your organization to the size you desire, the funds you desire, etc.? If all the peers you have chosen to examine are smaller than you are, you may not reach those targets.
Consider if the approach seems sustainable and replicable. If your peer group has been pursuing it for 2 years or less, or the funding model focuses on a very unique asset it is likely not the model for you to replicate.
It is most helpful at this point to examine your fit, and goals to cross off those peer models that you now realize don’t fit. Your funding models are diminishing and we are close to identifying a reliable match for your organization.
In our next blog we will look at weighing your revenue potential against associated costs as we continue our look at Finding Your Funding model by Kim, Perreault, & Foster.