46 - The 7 Steps for 7-Figure Fundraising

7-Figure Fundraising Podcast

To grow your fundraising, focus on these 7 steps.
1. Ask Donors Only Once a Year (1:22)

• This is how major donors organize their giving
• Match your ask to their timetable
• Don’t nickel and dime your major donors by asking them for a big donation and later asking them for smaller donations or sponsorships.

2. Treat Donors Like Partners (5:05)

• Poverty versus the Partnership Mindset
• What does treating a partner look like
  • See Episode #42 - Creating a 5-Star Donor Experience
• How to create a great thank you letter: 5-Sentence Thank You Letter
• Creating a 100 day plan for new donors, see Episode #35 - How to Never Lose a Donor

3. Add a Few New Partner Donors Each Year (12:00)

• You don’t need hundreds of new donors. A few can go a long way
  • Focus on warm leads
  • Referrals - ask your donors for only one referral
    • Script to use: "Is there one person, who is like you, that I should talk to about supporting our work?"
  • Referrals have some of the highest close and retention rates for new donors

4. Have a Big Vision (17:49)

• Why is this important?
• If you are trying to figure out your Big Vision
  • Think about 1 year first
  • Then 2, then 3
  • Book: Vision Driven Leader by Michael Hyatt

5. Make a Compelling Pitch (23:06)

• Nonprofits are complicated and do lots of great things, but sometimes it's hard to explain everything
• How to talk about your work and make it memorable
• Watch an overview video of our 8-Step Pitch Template
• Read: The Ultimate Guide to Pitching Major Donors

6. Execute on the Big Vision (30:17)

• Execution is just as important as a big vision
• Build trust with execution - show you are doing what you say
• Books on building systems for execution
  • Traction by Gino Wickman
  • 4 Disciplines of Execution by Chris McChesney and Sean Covey

7. Staff with Fundraising Specialist (33:04)

• Connector - the person who reaches out to prospects and works on securing a first meeting.
• Closer - the person who meets with donors and makes the ask
• Cultivator - the person who manages the donor relationship throughout the year, ensuring they are getting a 5-star experience from the nonprofit.

To see all the show notes visit: https://www.7figurefundraising.com/podcast/7-steps-of-fundraising

To see all the show notes visit: https://www.7figurefundraising.com/podcast/

To learn more about fundraising and our training visit: 7FigureFundraising.com

Chapters

1. 46 - The 7 Steps for 7-Figure Fundraising (00:00:00)

2. 1. Have a Big Vision (00:01:22)

3. 2. Treat Donors Like Partners (00:05:05)

4. 3. Add a Few New Partner Donors Each Year (00:12:00)

5. 4. Have a Big Vision (00:17:49)

6. 5. Make a Compelling Pitch (00:23:06)

7. 6. Execute on the Big Vision (00:30:17)

8. 7. Staff with Fundraising Specialist (00:33:04)