One of the biggest fundraising mistakes that social organisations make is chasing anyone who might potentially have some money, without really assessing whether or not their goals or interests fit the project. This is why generic applications get nowhere, and why creating specific proposals often fails too. You absolutely must have some kind of selection criteria to filter the right organisations to approach, before you spend time on funding proposals.
The next mistake involves assuming that presenting the social need and tugging on heart strings is enough to get people (HNWI = High Net Worth Individuals) or organisations to part with their money. This is a hit and hope affair – you might get lucky, or you might not. The real trick is to understand what your target audiences needs are, then make sure you are actually able to deliver the benefits they might want from their association with your project, and finally, stay true to your promises.
Above is a real life example of how to select your fundraising targets and then work out the benefits that might attract them. Once you understand these you can then create the messaging and marketing needed to attract them, and the engagement plans to manage the relationships over time.
