A thoughtful, strategic fund development plan is a powerful tool. In fact, a recent study noted that it was the clearest predictor of fund development success. Check out this webinar recording where Laurel walks you through the creation of your own plan and the keys to effective implementation.
Last month, Laurel McCombs shared the importance of having a written development plan. New studies suggest that having a development plan vs. not having a development plan can be the difference between success and failure. So what makes a good development plan?
- Know Your Goal – We’ve all heard the the maxim “if you don’t know where you are going, any road will take you there.” This cliche remains critically true. The first step in creating a development plan is knowing what you are trying to achieve. For most of us this boils down to knowing our monetary goal for the time period in question. But it might include other goals such as creating a major gift program, piloting a monthly giving program, increasing the average gift size by 10%, etc. Once you know your goals, you can work backwards to determine what is required to achieve them.
- Have Measurable Goals, Objectives and Benchmarks – This is critical. Without this, a plan isn’t a plan, it is merely a statement of intent. Metrics and benchmarks let you know if you are on the path to achieving your goals and give you advance notice to adjust your strategies if you are not. Better yet, having measurable objectives, goals and benchmarks force you to actually have strategies. Without empirical data there is no way to know if your plan is a success.
- Have Action Steps for Achieving Your Goals – Another critical piece that turns what might otherwise be a statement of intent or a vision statement into an actual plan is to have clear steps outlined with clear deadlines and clearly delineated responsibility for achieving the goals. In other words: who, what and when? Breaking down the plan into smaller steps with deadlines ensures that your plan will be implemented on a timeline that makes success possible.
- Have a Budget – It’s important to think about what you’ll need to effectively implement your plan and what it will cost as part of the creation of your plan. Almost all serious change requires some expenditure of resources. Understanding your costs up front will ensure that your plan has all the resources it needs to be successful.
There are many other elements that go into successful planning but these are the basics. Overall, it’s important to be specific. Avoid statements like “We will create a culture of philanthropy” without tying it to specific actions. How will you achieve this culture? Does it it involve training? Will you implement a staff giving program? Who will lead it? How will you know if you’ve achieved your goal? Why are you creating a culture of philanthropy in the first place? The more specific you can be with metrics, timeframes, responsibility and cost the better off you will be.
To learn about planning in more detail sign up for our January 28th webinar: “Creating and Implementing an Effective Development Plan”. The Osborne Group is also available to help you create your development plan.