Effectively raising capital for a business start up and (or) finding donors to fund a meaningful nonprofit is often what will make or break a new project or business. Kara Logan Berlin explains the three most important things we can do to become an effective fundraiser.
3 ways that Kara Logan Berlin has become an effective fundraiser:
Kara Logan Berlin tells us that fundraising is not just for Non-profits. If you want people to do the thing you want them to do, there are lots of ways to get there. A lot of it is the relationship-building you do before you ask for what you want. This goes to everything we do no matter the type of business or people that we work with.
Money can make people feel uncomfortable, How have you been able to overcome this feeling?
Kara has reframed these thoughts in her mind that she is not asking anyone for anything, she is giving them the opportunity to do something amazing with their wealth! This leads us to our first point.
1. The feeling that you have about wealth and money: 💰
It helps to not have any hang-ups about money. Having more or less money doesn’t make you any more or less special. If you feel like someone with more money than you is smarter or more powerful than you, that will affect the conversation. You will not project the confidence that they want to see in someone that they are going to invest in. You need to feel like you are on equal ground.
Related Podcast Episode: Discovering Your Voice
2. Relationship Building: 👫
Get to know them before you launch into your ask. Take the time to listen to them and do your research so you know what is important to them. Craft your ask around what you know they like. Think about “what is it that I do that will appeal to them”.
3. How to ask for what you want: ❓
After your ask, you should count to 10 and take a breath. Give them a chance to answer you. A great way to ask is “Would you consider”. This gives them an easy out if it is the wrong amount and it gives you a second ask to say “do you think this is something you would be open to at a later date”. Know what they care about and how much a typical giving amount is for them.
Kara Logan Berlin’s final thought:
The more you do it the better you get. Fundraising is a rejection game. The majority of people say no or you don’t get the amount that you wanted. This is a long game. It should take more than a meeting to get someone to give you their money. Keep doing the work, it is a marathon and not a sprint! 🏃🏃♀️
Resources Mentioned in this Episode:
Which of the 3 points is your strongest suit and how has it helped you excel in business?