Increase Your Asks
A Book Review By Bridget Brandt.
* * * * * * * * * * * * * * * * * * * * * * * *
I just finished reading 50 A$ks in 50 Weeks, by Amy Eisenstein. It’s amazing how much useful information she packs into this short quick read – it’s less than 145 pages. I found this book to be extremely useful for anyone new to fundraising or who needs to get back to basics. The basic premise emphasized throughout is if you want to raise more money, ask more frequently and in a smarter way.
The purpose of my review is to provide you with an overview and give you 50 A$ks in “nutshell”. What I really like about the book is it breaks down the process of establishing a development program (with frequent asks) into easy to follow chapters and steps. It even includes checklists and templates to help you organize your work. Another nice feature are the call out boxes Amy uses to define jargon in the text and the book includes a glossary in the appendix. Now on to the chapters…
Chapter 1, Getting Started: What You Need to Know, covers the basics of fundraising. In this chapter Amy emphasizes the importance of frequent asks. She defines the actions that counts as an “Ask”, offers suggestions for making smarter asks, provides stories and example charts you can use for tracking the number and type of asks.
Chapter 2, Board Members are Fundraisers. Yes, you can expect your board’s help with all stages of the fundraising cycle. It begins with defining the right roles and responsibilities, setting the right expectations (ask to be one of the top three charitable gifts your board members give annually) and continually educate the board about the role you need them to fulfill as donors and fundraisers.
Chapter 3, Making Bulk Solicitations Less Bulky, Amy’s message for this chapter is get the right database and collect the right information on your prospects. That way you can “personalize, personalize, personalize” your direct mail campaigns. Most importantly make it easy for people to respond. I am pretty passionate about direct mail myself and I think Amy hits the key points for direct mail. (Check out this great direct mail campaign.)
Chapter 4, Incorporating Individuals Into Your Development Plan, addresses a key success factor – individuals. What I got from this chapter is that every nonprofit needs to figure out how the 80 /20 rule applies to their organization. Or as Amy notes, determine the 10% of donors who give 90% of your funds. Identify the most loyal donors and be sure to treat them like VIPS. It’s always easier to keep a customer than to lose one and the same is true of donors.
Amy also answers the Who, How Much, When, Where and How To of the “Ask”. My favorite is her practical tip “Remember after the ask is made, be quiet.” This is so true! Give your prospects time to think. Another tip, don’t just give a dollar range always give a specific number in your ask. Otherwise your prospect will almost always select the lower number.
Chapter 5, Grant Research, Writing and Relationships, describes how to research and prioritize grant opportunities. The foundationcenter.org and grantstation.com are ideal sites for beginning your grant search. Once you have a list of grants, rank them, decide which ones to pursue, create a grant calendar and establish a grant writing schedule. I really appreciated her practical tips for cultivating funder relationships when no relationship exists.
- Find a connector who can serve as a bridge to the potential funder.
- If none exists, simply make a phone call to the organization’s program office. (You can often gauge their response, find out about new opportunities and see if your organization or program is a good fit in just a quick conversation.)
- Connect through social media, follow the funders you are interested in.
- Respond to opportunities and always, always follow up.
Chapter 6, Events Are Not About Ticket Sales. They’re About Sponsorship! Events are a great source of unrestricted dollars for your organization, they can boost visibility and give you a way to engage with prospects and donors. Most importantly Amy shows a different way to view events and provides event planning 101 tips and templates for organizing, executing and following up.
Chapter 7 as it is named is for Executive Directors. The gist of the chapter is Executive Directors are your organization’s Chief Fundraisers, fundraising is everyone’s job, hire the right person for development, set the right expectations with stakeholders and set the right development budget. Amy enlists the old adage “it takes money to make money”.
Chapter 8, Putting It all Together: Keys to Success, is about how to stay on track follow your plan, count and measure success. It includes a sample chart for goal and objective setting and assigning responsibility that is very useful. Amy also shares ways she stays motivated by connecting to other fundraisers and joining fantastic organizations like the Association of Fundraising Professionals. This chapter also concludes the book presenting final asking ideas and parting words of advice, “Ask ask and ask some more.”
If you want to learn more, please attend our upcoming webcast featuring Amy Eisenstein as she shares her best tips from 50 A$ks in 50 Weeks on June 28, 2010 at 2 pm EST. Click here to register.
Read Full Post »