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Feasibility and Planning Studies — are they really necessary?
By: Michael Fazio, Campaign Director
So you’ve decided that you are ready to embark on a capital campaign. Congratulations! If your organization is like most, you’ve realized that deciding to enter into a campaign was the easy part. Now the questions begin: How much can we raise? Is our goal too low? Too high? Who’s going to chair this campaign? Who will likely make the lead gift? And what about our case for support? Will our donors support our campaign?
Chances are you have an idea how to answer these questions. But hunches won’t translate into a successful campaign -- preparation and fact-based decision making will. A sound, systematic feasibility and planning study, therefore, is the essential first step toward answering those tough questions and making sure your campaign is a successful one.
Feasibility and planning studies, conducted by an objective, outside source, should
address the following five essential issues:
- General perceptions of your organization;
- Specific reactions to the proposed plans (as outlined in a preliminary case for support);
- Suggestions and advice regarding key features of the campaign, including prospective leaders, potential leadership-level donors, financial goals, timing, and potential obstacles;
- Potential personal involvement of each study participant as a leader, donor, and volunteer;
- General advice and thoughts on strategy for conducting the campaign and communicating the goals and objectives of the effort.
Because of the information a study seeks to uncover, study participants must be those individuals who already familiar with your organization. Participants will include some or all of your board members, your most significant donors, and influential opinion leaders. Depending on your organization, participants will also include patients, physicians, alumni, faculty, and/or administrators.
It is traditional for feasibility studies to consist of personal, confidential interviews conducted by an experienced consultant. At Graham-Pelton Consulting, we expand the study to include focus groups as well as a mail survey. The addition of these two methods of collecting information results in a more comprehensive study.
A thorough review and evaluation of the information received allows counsel to propose educated recommendations for your case for support, financial goal, volunteer and leadership potential, solicitation and cultivation strategies, and preliminary plan and timetable, among others.
Many organizations, unaware of the dividends a feasibility study yields, resist the investment in this important first step. Unfortunately, they are soon made aware of their oversight when their campaign stalls, doesn’t meet (an often unrealistic) goal, fails to attract donors, or goes over-budget. Don’t let this happen to your organization. Before you conduct your campaign, be sure to conduct a feasibility and planning study.
If you would like more information on feasibility and planning studies, call our offices today, at 800-608-7955, or simply e-mail us at contact@grahampelton.com. Our initial consultation is always free, and requires no obligation.
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