The Final Round of the Competition
This blog series has provided three of the four guidelines for leaders to identify and develop the right funding model for their organization; understanding your current fundraising approach and history, learning from your peers, and conducting a risk analysis on your change efforts vs. the costs.
We at Brighter Strategies love the fourth guideline – planning. When the time comes to pilot and implement the top one or two funding models, a carefully crafted plan is essential. Yes, the top one or two. Most organizations don’t have the staff to split between more than two new funding model pursuits. Few of the 144 nonprofits identified in “How Nonprofits Get Really Big” actually had more than one funding model and almost none had more than two.
So why not just settle on a single funding model right now? This early in the game it may still be difficult to know which model will work best and there could be benefits to attempting both. Keep in mind that preserving your current funding sources is still a priority.
New funding models typically take two to three years to take hold and a solid implementation plan is a vital step in giving the staff and board a shared vision for the process, clear benchmarks, learning needs, and tracking progress. Boosting your bottom line with solid funding planning and implementation will free your organization to serve your clients and retain your talent. We at Brighter Strategies are passionate about this process and increasing your mission capabilities. We are always available to help.