CASE 1
I AM DONOR RELIANT
- Secure your existing relationships
- Explore new donors
- Diversify to new revenue streams
- Capacitate for your funding strategy
Securing your existing relationships
Exploring new donors
Diversifying to new revenue streams
Capacitate for your funding strategy
While we will show there are several factors to consider when deciding what funds to pursue and how to structure your organisation, an important strategic consideration is your own (and your organisation's own) existing social and professional network. Accessing funding is a very social exercise in the sense thatinteraction and trust matter (even when it's suggested that they don't). Thinking about how to first use your own networks better (where trust has already been established) can give you the space to then think about how to diversify your network for the organisation as a later step.
While you need a clear sense of who you are as an organisation and what you are good at to ensure your broader success, it is also an important exercise to try and reimagine yourself, even if for pure speculation. If you are a non-profit, what would a for-profit version of your organisation look like? If you are a for profit, what would it look like to access charitable funds?
Use your networks and communities to learn more about specific types of clients that exist within your environment. The world of financing and funding is imbued with many open secrets i.e., specific clientsand entities that have a long history of consistent practices that may be risky or may offer opportunities. Do your own due diligence - this is an important empowering act for an organisation in disrupting thetypical giver-receiver dynamic.
Sustainability needs to be in your budget line items. Particularly given the challenges to the types of funds available and limitations to the use of those funds, you should specifically allocate line items that can foster your sustainability. For-profit entities do this through the accumulation of profit, and non-profits should do this through the accumulation of surpluses that gets allocated against future expenditure.These line items should be included across funding and financing proposals and offer security against volatility in the funding and finance environment. It also better enables you to sustain organisationaldevelopment, like employing as opposed to contracting capacity and talent.