Fundraising Myth No. 3: You Need an Outside Consultant for Your Capital Campaign
If you know anything about capital campaigns, you know that they are substantial fundraising undertakings. They require enormous amounts of planning and often take years to complete.
Many nonprofits feel ill-equipped to go through all of the necessary steps that ensure capital campaign success, so they hire outside consultants to conduct the feasibility study and quiet phase of the campaign.
If you want to save money and get to know your donors a bit better, skip out on the outside consultant and use your own resources for your feasibility study and quiet phase!
Naturally, this route will take more planning than simply following the lead of a consultant, but the end result will be worth it.
- Save money: Some feasibility studies can cost as much as $100,000.
- Have more control: Since you’re asking the questions and directing the meetings, you don’t have to worry about miscommunications as much.
- Connect with your donors: By sidestepping an outside consultant, you get to communicate with your donors and supporters directly.
With the right preparation and forethought, your organization can focus your capital campaign efforts on raising money instead of spending it!
The Truth: Your nonprofit can conduct your own feasibility study and quiet phase. In fact, there are multiple benefits to doing so!