Often campaign goals are bigger than campaign coffers. If your budget is making it difficult to move forward with an important tactic or to reach a key target audience, you may have to prioritize. To determine whether you should fundraise—and if so, how—ask yourself the following questions:

• Can you absolutely not achieve your goals without these funds?
• Does your organization already have a fundraising apparatus you can tap?
• In your audience research, have you identified some potential angels who may help finance your efforts?
• Are there IRS restrictions that prevent you from raising funds for this campaign?

Best Practices

• Different kinds of fundraising require very different strategies. The most common "flavors" of fundraising are small gifts (usually less than $500 or $1000 and often much less than that), major gifts from individuals, foundation grants and corporate grants. Do a little homework and figure out which flavor best matches your organization's needs and assets.
• In any case, the best way to raise money is via peer-to-peer solicitations by other donors to your campaign. It is far easier for them to sell you than it is for you to sell yourself.
• Tell a great story. One compelling story is more persuasive by far than a long presentation full of facts and figures. When fundraising from individuals, drop the "foundation speak." Things like your "theory of change" will make individual donors' eyes cross.
• Be prepared to answer the following questions: What exactly are you going to do with the donation? Why will the donation make a difference? What percentage of donated funds go to program activities, as opposed to fundraising or administrative activities? How will you measure success?
• Plan for a communications cycle around fundraising. Your job is not over when the donation comes in. You owe that donor a thank you message—and for some gifts, two or three thank you's would be appropriate. Don't expect a follow-on gift until you have reported back; that donor will want to know what you did with his or her previous donation. Donor cultivation is the key to a productive, long-term relationship.

Pitfalls

• Don't succumb to magical thinking. Thinking that the perfect donor is going to somehow appear and pay all your bills is a common fantasy, but it's just that. An equally common fantasy is that there is some shortcut to replace the hard work and long hours it takes to raise money. Technology companies have made a lot of money fueling this fantasy, so be watchful in picking your fundraising means.
• Materials should not contain too many facts and not enough emotion. Fundraising, especially from individuals, is about vision, passion and emotion. Sure, you need to be persuasive and make your case, but the facts and figures should be brought to life through flesh and blood stories.
• Don't get impatient. Raising money takes time. Often a major donor will only give after the eighth or ninth time you have communicated with him or her. It might take a year. And you never make the ask on the first visit.
• Be sure to make the ask, when it is time. Don't use weasel language like "support us" or vaguely indicate how more donations would help. Make it clear you are looking for a "DONATION" or a "GIFT." Give the donor prospect an idea of how much you are looking for. Being shy or vague when it is time to ask may doom your prospects.

More Resources

Fundraising 1, 2, 3
http://www.fundraising123.org/
Network for Good provides this learning center for fundraising.

DonorPower blog
http://www.donorpowerblog.com/
Blogger Jeff Brooks provides fundraising advice from the donor's perspective.

Fundraising Success Magazine
http://www.fundraisingsuccessmag.com
This monthly magazine is chock full of fundraising strategies and expert advice.