TWO FOR ONE

This week’s blog is a bit on the lengthy side but it is actually two blogs in one.  As I had mentioned in the beginning I would from time to time discuss sales and my view of how to improve relationships and sales.  I was encouraged to write a book on this subject but somehow could not put it together so I am doing it in pieces in hopes that It might come together with related and unrelated anecdotes.  So, the first part of this week’s blog is a brief discussion of selling and managing relationships in the philanthropic world.  The second part is an exploration of time and the difficulty of managing and dealing with the limitations as --- time marches on…

SALES LESSON No. 2

Raising money is never easy.  The challenges we have faced this winter makes fundraising an even greater hurdle.  I am not talking about investment fundraising.  With interest rates at zero and the Federal Reserve printing money, money for investments are readily available and investors are chomping at the bit to put their money to work.  No, I am talking about philanthropic fundraising.  Let’s make no mistake this is selling.  Remember selling is not a negative word, it is the ability to convince someone that what you have is of value and of value to them.  In the paragraphs below I will talk about some of the attributes which will make you more successful at “selling” or raising money for your philanthropic enterprise.  These also work for more traditional selling but since most development (euphemistic word generally used by universities to mask the fact that they are selling) personal are either volunteer or have not come from a traditional selling background. My hope is that these thoughts can be helpful.

An email just doesn’t cut it.

Admittedly I am an “old school” sales guy and I believe the phone is the most valuable tool you have at your disposal.  Most people raising money are younger than I am and have grown up with the digital method as the most valuable tool of communicating.  However, it is important to remember that the people you are trying to convince to give money are closer to my age; so put on your flexible hat and pick up the phone and “reach out to someone”. Your voice is an important tool.  The sincerity with which you approach your task will be readily felt by the person on the other end of the phone.  Now don’t get me wrong the digital form of communication is super important but important in the way it was designed --- appointment confirmation, follow-up, and confirmation of your agreement.   Granted this is difficult in the pandemic world and the fact that you are probably separated from your client.  Having said that please remember that there is nothing like a personal visit.  An in-person visit screams of sincerity and caring.  You bothered to drive or fly to visit someone says a lot about your sincerity and the seriousness with which you take your job.  When I was at Goldman the firm was American Airlines largest client because we were on the plane constantly.  Today is clearly different.  The Zoom call has replaced a lot of travel but it is better than the email or text because they can see you and sense the personal commitment you are bringing to the “ask”.  Remember you are trying to establish a relationship and like your personal relationships, it just cannot get sincere enough unless you make personal contact.  Allowing your client to hear or see you is that human touch that is critical in establishing a meaningful relationship and closing a transaction.  That transaction is the goal for your organization as that means money has exchanged hands and you have taken the relationship to another important level.

Speaking of the next level—don’t forget last year’s contributor. 

It surprises me the number of times someone has said that they did not call because I gave last year.  Really?! The previous contributor is your easiest call – I mean talk about low hanging fruit.  You already made the sale as they gave last year.  But don’t send a text.  I really do not think that counts.  A text is too easy to delete or just not read.  Make a personal outreach.  Gives you a chance to talk about what your organization has accomplished with the help of their contribution.  Don’t forget to ask about their lives.  I would rather give money to a” friend” than a robot making a robocall.  Always call your last year’s sale (contributor) to ask for this year’s contribution.  Quite often, organizations do not keep good records and they forget to make these easy calls.  I was always impressed with the way Danny Meyer ran his restaurants.  He always knew when you were coming and how often you had dinner at his restaurants.  Do that with your contributors.

Philanthropic fatigue.

Donors suffer from philanthropic fatigue which can be especially acute if they are only being asked for money.  It is important to engage with your donors to find out what things they are interested in and what value they might bring to your organization.  If all you do is ask for money, they will eventually tire of being seen as one dimensional.  I like asking contributors what their goals are as it relates to giving.  Is their goal to be a board member, more hands-on involvement with the organization, or working with the people it serves?  Contributors have more than just money with which to add value.  But like any relationship you have to strive to find out what is behind their wallet.  Don’t forget you are competing for their attention with other interests and organizations.  Your job is to distinguish yourself from the competition.  Sending an email once a year will not achieve your desired result.  Reaching out in a personal way and asking questions will help to achieve the dynamic collaboration necessary.  Send the message that you are sincerely interested in the individual and you will learn something that will be of value.

The idea of developing closer relationships with your doner not only “sells” your organization it opens you up to different thinking.  You obviously continue to believe you are charting the correct course if you are speaking in the echo chamber.  Philanthropy demands change in approach and goal.  Your goals cannot remain the same or you will lose your donor base because of fatigue.  However, if you have listened and developed deeper relationships you can be open to changes that will keep your goals and organization relevant to your donor base.  Like any relationship, they become stale unless you are open to change.  Remember the same attributes which make you successful in developing and maintaining your personal relationships are identical to being a successful “development” officer.

Time                  

I suppose it is to be expected that as we age time becomes more important since there is less of it.  Suddenly waiting for Christmas doesn’t take so long.  Book a trip three months out and it is here tomorrow.  Where did the time go? It seems to me that everyone, regardless of age, is talking about the speed at which time passes.   Barrack Obama was just elected the first African American President, but it was actually 12 years ago and counting.  I have been thinking about time, not that it is going fast or that there is less of it, but the use of time.   Considering the waste of time, you might say.  It is time management that becomes important and how we deal with the management of an inexact resource and clearly a limited one.  Yet recently, I have not been treating it as a precious commodity.  Acknowledging and feeling the passage of time, I am trying to understand why I am not treating it as carefully as it deserves.  I am getting enough needed rest but I am taking more rest than I need.  Perhaps it is the pandemic and staying at home that is allowing us to not be as cognizant of the passage of time.  The pandemic took away one of the pillars of time management – a place to go to work.  I am a fan of “going to the work” or put another way I am a fan of compartmentalization.  Acknowledging the importance of being able to leave your place of rest and go to a place of work be it at an office, a construction site, a school, a sports facility, or… Going to that job is one way of respecting the value of time and helps to make sure that you use additional time wisely.  Consider work as a used block of time and when you leave work you are forced to take your remaining time seriously and thoughtfully. Allocating time for exercise, children's sports, doctor’s appointments will require thoughtfulness and discipline.   Whatever those blocks of time are, if a major portion of that block is taken up by going to work you are forced to plan better and more efficiently.  I understand the convenience of working at home and the additional time you are spending with family. However, I suspect you are also wasting more time.  I certainly am.  And it is bothering me that I have not been using my time in an efficient matter.   I do not have time to waste. The pandemic has thrown many of us into an uncomfortable predicament --- how to manage our time.  Going to the office gave us structure and reminded us of the importance of using our time wisely as we knew that much of our time was spoken for.  When I write “going to the office” I am using that in its broadest sense.  Referring to the act of leaving one’s place of rest to a place of work wherever that work might be. Having a place to go to work immediately structures your day and underscores the need to manage the time remaining.  Without an absolute requirement that I will be anywhere, I squander time.  Distracted by the outside world that comes to my door.  The delivery that needs a signature, the trash that needs taking out, the household chores that are present but unscheduled, meals, and the endless snacking because the food is always there.  I am beginning to get better about exercise but the rest of the day is a never-ending assortment of distractions and time-wasting thoughtlessness.  I used to make fun of my friend Dan who had a schedule which he was disciplined in keeping.  The joke was he would be easy to kidnap because he was always working out Monday Wednesday Friday at 3:00.  Now that I have no structure, I am jealous and amazed at his discipline in recognizing the limitations of time and his ability to make use of every minute.

Until recently I never truly valued the luxury of having a place to go to work; the importance of having to think about what to wear; the pleasure of having an assigned time to have lunch; the excitement of leaving work and the welcoming of the ability to accomplish something different during the next block of time.

I hope I can wear a suit again….. …….maybe even a tie!!!!!!!