Daily Nuggets • • Nick Fellers
A few weeks ago we published “10 Action Steps to Help you Engage in 2016.” Over the next 10 weeks, we are going to use each action step as a week long theme to help you get it done!
This week’s theme is DO THE MATH.
A big epiphany for organizations we work with continues to be – your funding plan actually is part of your case for support.
To me, the funding plan is the HOW behind the big picture dollar goal and the big picture dollar goal is what you need to deliver on your vision. So, in essence, this is HOW you will deliver on your vision. Is that important? You bet!
I’ve found that most organizations don’t have a funding plan – They haven’t done the math.
Three simple action steps to get you there:
- Determine the dollar amount you need for both operations and projects. What is the lump sum? 80% of organizations can’t answer this question.
- How many investments would you need and at what amounts to achieve this goal?
- When? (One year? Three years? Five years?)
The funding plan does a few things as it relates to your case:
- It makes it believable and achievable.
- It shows a potential investor how she/he would fit into the funding vision.
- It also illustrates that you’re not just picking a number out of the air – there is logic – Which gives you and your investors confidence.
Extra bonus: There are times when you can actually ask the potential investor, “Where do you see yourself in this plan?” Then, you let them select a dollar level – Something we call “The Clueless Close.”