In this post, I will talk about some of the most common fund-raising challenge I hear from mentees from around the globe. How do I go about raising funds for my idea, project or organisation?
First and foremost; get a fundraising strategy in place!
Many organisations wonder if they need a fundraising strategy. If you are asking this question as a start-up organisation, kudos to you. Those of you who are not, you need to start asking this question. The reason being, before you start thinking about obtaining your fund-raising goals, you need a strategy to get a clear picture of how you will achieve those goals.
A fundraising strategy will give you and your organisation a concrete plan to move forward. A fund-raising strategy is based on your organisations’ capacity, age and past performance. This strategy can be a one page document which gives you exact goals and objectives to follow to achieve your fund-raising goals. It can help you asses the kind of donors you need to target and type of funding your organisation is eligible for. Most importantly, it should set a timeline to your achievable goals. It will also force you to rethink your long term goals as an organisation.
So if you do not have a fundraising strategy in place already, now would be the time to think of developing one!
I hope you found these tips useful. Please share your experiences in the comments section below.
This article is part of “On Fundraising Challenges” series, originally written for Mentoring Women in Business Platform of Cherie Blair Foundation in response to questions posted by community leaders and founders of various start-up initiatives.