21 Nov How to Get (New) Money out of your Current Budget
The hero of our story is a dedicated fundraising leader. He or she is committed to investing in staff training, database development, an outside mail house, staff resources, and more. The fundraiser has strategically calculated the impact on the organization’s fundraising ROI.
The hero negotiates for the fundraising investment. The response from the board? “Sounds fantastic, but we don’t have budget for that.”
Was that a door closing? Heck no! Our hero is a fundraiser. Overcome the objection.
“Not having budget” is a terrible reason for not doing something that is integral to fundraising success. #fundraisingmojo ← Tweet this
Budgets are not fixed in stone, locked away in some fireproof safe somewhere, guarded by poisonous accountants. Budgets are much more fluid than that.
There is money in your current budget. How do you access it?
You need to address the objection. Nothing more, nothing less.
Here’s 5 ways to get what you need out of your current budget. Be creative, ask questions, and do your research. If you really want something to happen, don’t settle for no. Understand the objection and engage.
1 BORROW—Review the budget line items. Is there something that hasn’t been spent? Is it a sunk cost, or could you generate revenue by realigning it with fundraising? How could you borrow money to raise more money…within this year’s budget window?
2 SCALE—Is there an activity that you could scale back, or reassess to find a few dollars?
3 IN-KIND—Is there an item on your current budget that you can seek in-kind support for? Free up real dollars with an in-kind commitment?
4 MATCH—It is incredibly difficult to say no to an employee who is ready to match the organization’s dollars with their own for professional development. Looking for support for leadership growth? Fundraising training? Invest in yourself first, and your organization will follow.
5 NEGOTIATE—“If I raise X dollars more before year end, then would you consider investing in Y?” Create a scenario that motivates you to success. When you want something, your energy and your focus will flow in that direction.
Understand the objection so you can address the objection.
If price/cost is the only objection, then great! Use these 5 strategies to find budget for the most valuable asset in your shop: YOU! Need help to strategize? Get in touch at [email protected]. I’ve helped clients overcome objections for professional training, coaching, board training, database investment and much more.