46 - The 7 Steps for 7-Figure Fundraising

View Episode 46 Show Notes on our website here.

To grow your fundraising, focus on these 7 steps.


1. Ask Donors Only Once a Year (1:22) 

• This is how major donors organize their giving 
• Match your ask to their timetable
• Don’t nickel and dime your major donors by asking them for a big donation and later asking them for smaller donations or sponsorships. 

2. Treat Donors Like Partners (5:05)

• Poverty versus the Partnership Mindset 
• What does treating a partner look like
  • See  Episode #42 - Creating a 5-Star Donor Experience
• How to create a great thank you letter: 5-Sentence Thank You Letter
• Creating a 100 day plan for new donors, see Episode #35 - How to Never Lose a Donor

3. Add a Few New Partner Donors Each Year (12:00)

• You don’t need hundreds of new donors. A few can go a long way
  • Focus on warm leads 
  • Referrals - ask your donors for only one referral
    • Script to use: "Is there one person, who is like you, that I should talk to about supporting our work?"
  • Referrals have some of the highest close and retention rates for new donors

4. Have a Big Vision (17:49)

• Why is this important?
• If you are trying to figure out your Big Vision
  • Think about 1 year first 
  • Then 2, then 3
  • Book: Vision Driven Leader by Michael Hyatt 

5. Make a Compelling Pitch (23:06)

• Nonprofits are complicated and do lots of great things, but sometimes it's hard to explain everything
• How to talk about your work and make it memorable
• Watch an overview video of our 8-Step Pitch Template
• Read: The Ultimate Guide to Pitching Major Donors   

6. Execute on the Big Vision (30:17)

• Execution is just as important as a big vision
• Build trust with execution - show you are doing what you say
• Books on building systems for execution
  • Traction by Gino Wickman
  • 4 Disciplines of Execution by Chris McChesney and Sean Covey 

7. Staff with Fundraising Specialist (33:04)

• Connector - the person who reaches out to prospects and works on securing a first meeting. 
• Closer - the person who meets with donors and makes the ask
• Cultivator - the person who manages the donor relationship throughout the year, ensuring they are getting a 5-star experience from the nonprofit.

To see all the show notes visit: https://www.7figurefundraising.com/podcast/7-steps-of-fundraising

To see all the show notes visit: https://www.7figurefundraising.com/podcast/

To learn more about fundraising and our training visit: 7FigureFundraising.com

Chapters

• 1:22 1. Have a Big Vision
• 5:05 2. Treat Donors Like Partners
• 12:00 3. Add a Few New Partner Donors Each Year
• 17:49 4. Have a Big Vision
• 23:06 5. Make a Compelling Pitch
• 30:17 6. Execute on the Big Vision
• 33:04 7. Staff with Fundraising Specialist