So you’re thinking of starting a capital campaign…

Is it just me, or does it feel like everyone is considering launching a capital campaign right now? Two of my clients are in the middle of campaigns and I’ve talked to several other organizations about their projects over the last couple of weeks and how I can help. Many of these projects are relatively small compared to some campaigns - we’re talking $1-$4M - but they’re still the largest projects that these organizations have ever considered. The organizations I’ve talked to know that a campaign of this size is far outside their comfort zone or level of expertise - and most know they’re going to need to bring on a consultant to help.

If you’re involved with one of these kinds of organizations - congratulations! Capital campaigns are an exciting time to grow your organization, engage donors, and build capacity to better meet your mission. But they can also be a huge challenge. They take resources - time, money, staff - that you may not already have. They are the epitome of balancing the art and science of fundraising. The stakes are high.

So to help you out… here are 5 common mistakes I’ve seen in my year’s in the industry that I would urge you to avoid in order to ultimately see success in your campaign:

1. Asking too early and for too little.
   I will talk until I’m blue in the face about why it’s important to slow down, create a plan, and then work the plan anytime you’re trying to fundraise. This is especially important in campaigns. If you start making asks too early, and the project details change dramatically, you can frustrate donors and lose trust. If you ask for gifts that aren’t at the top of your gift chart, you’ll burn out and lose momentum before you even get started. It can be intimidating to only focus on the lead gifts if you are someone who can’t imagine being able to give that much money. But without those lead gifts, you will not reach your goal. Instead, pause to create a plan and ensure you’re making the right asks at the right time for the right amount of money.

2. Focusing too much on finding new donors at the lead gift level without first looking at the people closest to your organization.
   We all want to find new donors for our organizations. But those who will support your project early on will likely already know and love your mission. Don’t underestimate the capacity you already have in your database. Talk to your current top supporters and get them involved early to help build faith and trust with those new donors who you will inevitably need to reach your overall goal.

3. Determining a campaign goal based solely on project costs, with no regard for donor capacity.
   Many organizations start a campaign without any kind of feasibility study - especially small organizations or those run by volunteers. I understand that spending the money on a study, only to find out that it’s not possible to raise what you hoped to, can be deflating. But so is launching a campaign, making promises to donors and the community, and then falling short and having to pull the plug on everything. While I would always advocate for some form of formal feasibility study no matter how big or small your organization is, even taking the time to talk to a few key supporters before setting a goal can be helpful to making sure you can actually achieve it.

4. Setting naming opportunities without considering the overall campaign goal.
   I’ve had several conversations lately where organizations agreed to name a facility for less than 25% (sometimes closer to 10%!) of the total project cost. If you name the facility for that low, you’ll likely run out of recognition opportunities to steward future donors. Are there times that it makes sense? Absolutely. But I’m seeing a lot of organizations that are just happy to get a “big gift” and are giving away the farm for the price of a horse. Be strategic. And recognize when the math isn’t mathing.

5. Not taking the advice of your campaign consultant.
   Look. I get it. Your consultant is an outsider and of course they don’t know your organization as well as you do. But trust me when I say that what we do know is the industry. There’s a reason that campaigns are done the way that they are… because they work. If you’re paying a consultant to help but aren’t trusting their advice and following the plan they’ve set out for you, you’re throwing away money.
   That being said, making sure you find the right consultant is important. All consultants approach their work a little differently. But if you’re working with me, I’ll help set a plan that you feel comfortable with and then empower you to work that plan. That’s my philosophy with all of my clients. I’m here as the expert behind the scenes to make sure you feel prepared and confident going into every donor meeting.
   To take a metaphor further than I need to (which you may have learned is one of my favorite things to do)…
   As your consultant, I’m here because I know how the highway system was built and why it was built that way. I will be your GPS (guiding you down that highway) and your lane assist (reminding you to keep your hands on the wheel and focus on the road ahead). But ultimately, you’re driving. While you might decide to go a slightly different way than the GPS advises because you know the neighborhood, you want to keep the general directions in mind. It wouldn’t make sense to get on the highway and go north 10 miles when the directions say to go south for 20 miles. If you do, you’re going to end up wasting time backtracking and no one has extra time for that!

With all things fundraising, there isn’t one right way to do most things. There are many. But there are also many wrong ways to do things. Trusting a process, working a plan, and seeking guidance from someone who has been there before is the best way to see success when taking on something completely new for your organization.

And one last bit of wisdom for all of you out there who are in the middle of a campaign - take care of yourselves. The toll a campaign can take on nonprofit staff is real. Many of my friends who have experienced burnout in recent years attribute it to the increased workload and pressure that were brought on by a capital campaign. Add staff if it’s appropriate, don’t try to do everything at once, and get the rest you need. It’s the only way you’ll survive.