How to create a Funding Rationale tied to Impact
How to create a funding rationale tied to impact.
Essentially there are three ways to create funding rationale – three P’s. You can ask someone to invest in:
Commonly used with the ‘campaign mindset’, you cast a vision, attach a dollar amount, articulate a funding plan then ask someone to be a piece of the plan.
This could include seed funds to launch a program, sponsorship for a program or gap funding for a program. The cost of the program is set against the impact of the program. You’re selling the impact of the program.
It would be more accurate to refer to this final rationale as a ‘unit’ but then I would lose alliteration. You can do the math to figure out the cost to impact one student, one class, one session, one exhibit, one visitor, etc. This could be a total cost or a ‘gap cost’.
You can use one, two or all three. The message is to HAVE a simple funding rationale. Having worked to transition thousands of messages into a funding rationale, they always incorporate these core concepts.
You can expand and mash-up these three core concepts to get to 9 Types of Funding Pitches.