Building a foundation of knowledge

- You've certainly heard the old adage, "Knowledge is power." In fundraising, the more knowledge you have about your organization, the better you can empower those who want to help further your mission. For you to educate donors, volunteers, and other community members about your cause, you have to know enough to deliver your message in a way that shows confidence and inspires trust. There are six pillars of fundraising. In this video, I'm going to focus on knowledge, knowing the most important information about your cause, and the organization you represent. So what exactly do you need to know? Well, as much as possible. We live in a fast paced world and I'm guessing you don't have the luxury of holding off on identifying, qualifying, and getting to know prospective donors until you feel like you know absolutely everything about your cause. Constant evolution aside, you can get a solid foundation of knowledge by focusing on six key spheres of information. The first component is the mission. Your organization's mission statement is a formal declaration that succinctly and clearly states what your organization is committed to doing. Memorize this and use it in conversation. The next component is the activities, or how your organization is delivering on its mission. What does your organization do every day to further their cause? What are the core programs or services provided? A university, for example, might focus on career center development, or a nonprofit that feeds children would focus on how they get food on the table. You also want to know the future focus of your organization. These goals will ensure the future of the mission for years to come. Maybe it's to expand programs or your service area. You may be working to increase the number of individuals or families you impact. This information is especially important, because prospects and donors want to feel like they are investing in an organization that will thrive for years to come. The next element is the funding. When it comes to the use of funds and the financial health of your organization, the more you know, the better. Technology has made it easy for potential donors to know how much your organization raises every year, how much your executives are paid, and who your largest funders are. It is imperative that your figures are always up to date and accurate. Never, ever pad these numbers. Whether you're talking about expenses or revenue, discrepancies will derail trust. You also need to know the ways to plug in. You are a one stop resource for those outside the organization to rely on to discover how to become involved or make contributions. You should always have a short list of ways people can help further the message of the organization in the event that someone is interested. And finally, you should be familiar with your competitive advantage. There are literally thousands of amazing mission-driven organizations that your prospective donors can invest in, so your job is to explain why your organization or mission is the right choice for making a smart investment. Savvy donors love collaboration and care about the positive impact. So remember, never bash another organization in attempt to elevate your mission. Frame your pitch from an abundance mindset and focus on what makes your organization special and worthy of investment. Your learning should evolve as your organization grows, changes, and responds to external forces. Ideally, you always have something to enthusiastically share with your perspective and current donors.