Home Library Translate
A A A
Share »
Follow us on Facebook Follow us on Twitter Follow us on LinkedIn
Connect »

Blog: Fundraising for Nonprofits

Menu

  • This Blog's Home
  • Guest Writer Submissions
  • Policies
  • To Subscribe to a Blog
  • About
  • Feedback

Outsourcing Prospect Research

By Hank Lewis, MA, CFRM on June 7, 2011

I received an email some time back that, with my response, suggests a way to think through the question of whether or not to use a prospect research firm.

“I was a participant in your recent workshop on Major Gifts and wanted to thank you for an informative and inspiring session. My organization, The XYZ Trust, is poised to launch a major gifts effort and, while I have numerous questions I would like to ask, I will spare you by limiting it to one.

“I have recently received a solicitation to subscribe to a prospect research service and I’m intrigued by the potential of such a service in the identification of high net worth individuals … and their personal and organizational networks.

“Have you ever heard of such a resource? I know you probably won’t explicitly endorse or pan such a commercial service, but is it at least worth exploring? “

=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=
My Response:

If that firm can provide all they “promise,” it sounds like it would be a worthwhile investment … depending on the following factors:
1. If you have the volunteers who can tap into any network or establish/expand
    contact with potential major donors that the process uncovers for you;
2. If those volunteers would be willing to make the contacts and work on the
    creation/enhancement of the needed relationships (the cultivation);
3. If your volunteers couldn’t make many of the same identifications of
    individuals and networks on their own;
4. If the price of the service is “reasonable;” and,
5. If you (read: your volunteers) will actually ask major gifts prospects for
    major gifts – using the definition I provided in a much earlier blog posting.
    (See: ”What is A Major Gift”)

If you have a volunteer cadre that would be willing to work at creating and cultivating networks of potential major givers, I’d be pleased (as would other consultants) to be asked to work with/train you/them in that process. In the long term, teaching your leadership “how to fish” – and how to clean and cook the fish, would likely be more cost effective than having someone else do your fishing for you.

And, once the research firm does your fishing for you, do you have that volunteer cadre that knows how and would be willing to do what must come next ??

=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have a comment or a question about starting, evaluating or expanding your fundraising program? With over 30 years of counseling in major gifts, capital campaigns, bequest programs and the planning studies to precede these three, I’ll be pleased to answer your questions. Contact me at AskHank@Major-Capital-Giving.com
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen The Fundraising Series of ebooks ??
=-=-=-=-=-=-=-=-=-=-=-=-=-=
If you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting.

« Previous Next »

Search Our Site

Meet the Blog’s Host

Hank Lewis with Development Consultant Associates has over thirty years as a fundraising consultant and is a specialist in Board and Leadership Development, Capital Campaign, Bequest Program and Major Gifts. [Read more ...]

Recent Blog Posts

  • Show Me … Don’t Tell Me: Say It With Video
  • Video – An Often Overlooked Development Tool
  • Using Video in the Development Process … And Increasing Dollars
  • Corporation Solicitation Programs: Not For Every Nonprofit
  • The Gift Table: An Essential Fundraising Tool
  • The Planning Study: Implementation
  • The Planning Study: Conceptualizing & Preparing
  • Leadership: The Key to a Successful Major Gifts Program
  • Ensuring The Future of Your Nonprofit: Major Gifts Are The Way
  • Top Ten “Rules” of Fundraising

Categories of Posts

  • Accounting For Fundraising
  • Basics and Overviews
  • Board and Fundraising
  • Fundraising & Social Media
  • Fundraising Basics: Concepts & Philosophy
  • Fundraising: Beyond The Basics
  • Fundraising: Capital Campaigns
  • Fundraising: Consultants
  • Fundraising: Corporate
  • Fundraising: Database/Software
  • Fundraising: Direct Response
  • Fundraising: Grants
  • Fundraising: Hiring Development Staff
  • Fundraising: Major Gifts
  • Fundraising: Millennials In Development
  • Fundraising: Planned Giving
  • Fundraising: Planning
  • Fundraising: Special Events
  • Fundraising: The Combined Federal Campaign
  • Uncategorized

Related Library Topics

  • Boards of Directors
  • Capacity Building
  • Consultants (Using)
  • Executive Director Role
  • Financial Management
  • Fundraising and Grantwriting
  • Marketing
  • Program Evaluation
  • Program Management
  • Social Enterprise
  • Staffing
  • Starting Nonprofits
  • Strategic Planning
  • Taxation
  • Volunteers

Library's Blogs

  • Boards of Directors
  • Building a Business
  • Business Communications
  • Business Ethics, Culture and Performance
  • Business Planning
  • Career Management
  • Coaching and Action Learning
  • Consulting and Organizational Development
  • Crisis Management
  • Customer Service
  • Facilitation
  • Free Management Library Blogs
  • Fundraising for Nonprofits
  • Human Resources
  • Leadership
  • Marketing and Social Media
  • Nonprofit Capacity Building
  • Project Management
  • Quality Management
  • Social Enterprise
  • Spirituality
  • Strategic Planning
  • Supervision
  • Team Building and Performance
  • Training and Development
About Feedback Legal Privacy Policy Contact Us
Free Management Library, © Copyright Authenticity Consulting, LLC ®; All rights reserved.
  • Graphics by Wylde Hare LLC
  • Website maintained by Caitlin Cahill

By continuing to use this site, you agree to our Privacy Policy.X