Five powerful minutes - Part 2

Last week I wrote about how to get five minutes with a prospective new sponsor.

This week, I'm writing about what to do - and not do - when you get those five powerful minutes.

As I mentioned in last week's blog, do not ask for anything and do not hand your prospective new client anything to read. It will likely be dropped on top of a pile of other things he or she has been given and hasn't had a chance to read that have not yet made it to the trash bin. Or it will just go right to the trash.

You can give them those things after and only after you've established a relationship.

Tell the person you are meeting with briefly why you got involved with the organization you are working for. Make it personal.

And then ask your new contact a powerful question - one that in my experience seldom gets asked - but should:

"What are your biggest challenges for the next six months and how can I help you achieve them?"

Your new contact will quickly become your new friend.

One of the reasons I was so successful finding sponsors for Mecklenburg County's programs and services during the Great Recession was because I did just that. I learned quickly that if I wanted sponsorships and if I wanted repeat sponsorships, I had better be prepared to deliver something to the companies I was working with. Something THEY wanted; not something we thought they wanted.

Generally, companies want people to walk in their doors and spend money. That's the only way they can stay in business, keep employees, and support community events. And they are faced with tighter operating budgets and more competition all the time.

That's where you come in.

Your job now is to come up with ways that you can get what you want by helping your new friend achieve some of his or her objectives.

It is not as difficult as it sounds. You can do it. And I will give you some ideas in Part 3.

Five powerful minutes - Part 1

Say you have a big event next year and you want to start prospecting for new sponsors (and in fundraising, who doesn't)?

Many sponsorship seekers - and I've experienced this first hand - will put together a list of companies/contacts they'd like to recruit, put together a proposal, and email it to as many of those people as they can, with attachments, of course, that might not ever get read. (See previous blog on attachments).

Its not a completely terrible approach. I've done it myself and with some success.

But here's a better idea: call your potential sponsor/contact and ask for five minutes of their time. Just five. That's it. And be very specific about it when you ask.

'Hello Joe. This is Susan from the Springfield Rescue Mission and I would love to stop by and introduce myself and only take five minutes of your time. That's it. Just five minutes. I will be near your office on Wednesday morning. Can I just stop in and introduce myself? I promise I will be in and out in five minutes.'

I promise you will get a meeting, if you are flexible with your time.

The person you are calling on will either say, 'Sure' or 'Wednesday is horrible, can you make it Friday?' or something similar.

An important side note: keep calling until you reach your contact's live voice. Do NOT leave a message and ask for a return phone call. Why? Because then you have just actually added to your potential sponsor's already busy day of tasks and have immediately created a negative neuro-association. Trust me on this one. They also might start mentally preparing their 'We are already over budget. Contact me after the first of the year' speech and you will be out of luck.

When you go in for your five minute power meeting, lead off with, 'I just wanted to say hello, introduce myself, and I will be out of your hair in five minutes.' And take a watch so you can be sure to keep it to five minutes.

Your contact will be shocked. Nobody ever wants just five minutes. If you stick to that, you will be putting a friendly face to your charity's name and building a relationship with your new contact.

Do not give them any paperwork to look over. And don't ask for anything. I repeat, don't ask for anything. Not at your first meeting.

Tell them why you got involved with your charity and make it personal.

Next, use your five minutes to ask a powerful question.

That powerful question - one that almost never gets asked by fundraisers - will come in Part 2 of this blog.

Keep it simple!

Several years ago when I was raising funds - especially early in my career - I would create proposals that were very wordy.

I wanted to impress upon the would-be sponsor just how big of an event I was creating and I really wanted, maybe even more, to impress upon the potential donor what kind of impact the organization was making with its mission.

Word, words, words.

I really tried to put every last detail in those darn proposals.

I've learned that not only is it unnecessary, but it also sometimes counter-productive and confusing to the donor.

That's because the person you are sending it to might get up to FIVE - or more - similar pitches EACH day. It is hard to believe, but it's true. They don't have time to wade through all the information.

Your job is to make it easy and to remove barriers. That means sending out a very brief proposal that the potential donor will be able to read quickly with no attachments just links. (See previous blog on attachments).

Include up front in your email or proposal very basic things like dates, times, and locations, and SPECIFICALLY what it is you are asking for and what they will get in return. Don't make them guess or have to play a word hunt just to find out.

And then put a link or website in the email or proposal directing your would be donor to all of the information that you'd like them to have - if they are interested.

And leave it at that.

Some thoughts on Twitter

Like it or not, Twitter is a part of our lives.

If you do these five things, your organization can turn Twitter into a strength:

1. Make sure everyone in your organization knows your Twitter handle. Everyone. I can't tell you how often I am working with people - particularly at events - who don't know their own organization's Twitter handle.

2. Make sure your organization follows those it will be working with a few days before the big event or fundraiser. This will make Tweeting at the event much easier. If you have an event coming up, plan ahead and follow the companies, organizations, and news media organizations that you expect to be working with.

3. At events, Tweet @ those companies, organizations, and news media outlets that you are working with. Sponsors, in particular, will love that your organization is Tweeting about them. If a sponsor's logo is visible, Tweet a picture with the logo or banner in the background.

4. One thing I like to do if I'm at an event and a TV crew shows up is ask the reporter or camera person during what news program or show the story will likely run on. Then, I Tweet to our followers for them to watch the story on @ (Twitter handle of news organization) during the time the story is expected to run. First, you are letting those who couldn't attend have the opportunity to see a story about what they missed. Second, news organizations are businesses first and foremost and they might be more likely to work with your group in the future if you also help drive people to watch their programs.

5. A day after a big event, thank those who came out to support your event through a Tweet @ all of them, if possible. You will be thanking them, but also gaining more followers in the process. When you Tweet @ those businesses and organizations, their followers might potentially follow your organization.

By following these five tips, you can gain more followers, strengthen your relationships, get more publicity, and come off as more sophisticated with social media.

FindingFunds Revisited

In 2011, I created a blog called FindingFunds based on my years of experience raising a lot of money for a lot of causes.

My blog was very short and practical with tips and tricks for how to raise money, find corporate sponsors, and find in-kind donations for programs and services.

I stopped writing the blog when I stopped actually raising money and I joined the ranks of the blue and yellow, as the Local Marketing Specialist for IKEA Charlotte. Part of my job includes giving away stuff.

Now that I've been on the other side of the fence for a couple of years - actually answering emails, calls, and in-person requests for donations, I've decided to resurrect my blog.

Now, my blog will be even better with real experiences shared on how to successfully make the ask and, now, experience on the side of the person who has to divide up and hand out what is available to donate to the many, many worthwhile causes, charities, and organizations that come a knocking.

It is going to be a fascinating look at what works from the eyes of the fundraiser AND what works in the eyes of the corporate sponsor.

I hope you will follow my blog and come along for the ride!

For God sakes, cut your expenses!

One of the easiest ways to raise more money is to cut your expenses.

Quite a few years ago, I was asked to lead the state golf championships of the American Cancer Society's golf program.

Winners of local fundraising tournaments had been "qualifying" to play in the state championships, which were held over a weekend, which had always been at the beach.

The state organization's overall income from golf tournaments was a couple hundred thousand and then the state organization spent more than $20,000 putting on what amounted to a big party at the beach for the local winners.

That carrot at the beach basically amounted to an additional ten-percent expense on a program that wasn't really all that successful and that also had expenses at the local level.

When I took the program over, I decided to get a committee of volunteers together from across the state to make some changes, reduce expenses in the state championships, and still try to leave people with a good feeling about the whole thing.

Here's what we did: moved the tournament to a nice course in the middle of the state, made it a one-day event, and held an optional dinner the night before the event that featured a silent auction and some other "income enhancers." We dramatically decreased expenses and added a few new income sources.

The result?

We actually netted about $5,000 on the state championships, which actually was a net gain of about $25,000 in the overall golf program, since we eliminated an overall $20,000 expense.

There's ALWAYS a way to reduce expense without sacrificing quality. Always.

What are some of the things you have done to reduce expenses?

What do you NEED?

In this day and age, at least for me, I've had to lower my fundraising expectations.

That's a lot for me to admit.

I'm used to annual million-dollar increases, finding ways to get everyone to give more, and creating new revenue streams.

But that's just not the reality for a lot of organizations these days.

Executive directors, boards, and volunteers need and can find success in lowering their expectations and asking for what they NEED, not what they WANT.

When setting your corporate sponsorship levels - especially for newer projects that don't have a lot of buzz associated with them - ask yourself, what is the lowest amount that I NEED in order to make this project happen? What do I NEED to cover my expenses. What do I NEED for this project to be successful and for board members and volunteers to walk away from this feeling good?

Start from where you're at.

Forget that other people are getting 10k or 20k for their gold-level sponsorships. If you only need 5k, ask for 5k.

Lowering your expectations is a great way to be successful and give yourself room to grow, even in a difficult economy.

Even for a hyper-competitive guy like me.

Have you lowered your expectations? How'd that work out?