Why do we need a Feasibility Study?

Why do we need a Feasibility Study?

The prospect of launching a capital campaign can be overwhelming. Where do you start? Who will volunteer? Is this the right time? Will people support your funding priorities? How do you set a realistic goal?

These are all excellent questions, which you can answer by conducting a Feasibility Study as an early step in the process. Whether you have one major project or a number of smaller initiatives that you are considering, inviting your constituents to participate in the conversation will not only give you a clear understanding of how to move forward but also will engage potential donors and volunteers at a higher level. When you give individuals the opportunity to share their thoughts and opinions – when they feel you have heard them–they are more inclined to become involved and to invest.

A well-conducted Feasibility Study will…

  • Educate potential donors about the importance of your funding priorities
  • Determine leadership availability in both the quantity and quality necessary
  • Identify potential gifts of substance essential in meeting the required standards of giving
  • Finalize details of the major areas for concentration and develop the fundraising potential in terms of a realistic dollar objective
  • Establish what additional objectives beyond funding are necessary and appropriate
  • Evaluate strengths and weaknesses within the proposed program

Invite a good cross section of those who have historically been invested in your mission by sharing their time, talent and treasure. While you can offer a general invitation, speaking to those who know you best is vital to receiving well-informed and insightful responses. A Feasibility Study is NOT a random sample; you want to be very intentional in creating your participant list.

During the Feasibility Study, you will develop and test the concept and implementation envisioned for the campaign effort. Conduct the study not merely to determine the feasibility of the dollar figure sought, but to lay the groundwork for the most effective approach for making the goal. The information gathered and decisions made here will drive the rest of your campaign.

Use the study for a general evaluation of different elements of your organization. Since you have people willing to share information and insight with you, take advantage of their generosity. Then, if someone drops off a multimillion dollar check for your campaign, you will be well prepared to rejoice, immediately fulfill the campaign priorities and then address other areas requiring attention.

Join us Oct. 10 for a Capital Campaign Readiness webinar and see what pre-campaign steps you can take to make the path from consideration to celebration smooth, sure and successful.

Call Mission Advancement at 630.378.2454 to see how we can help make your campaign hopes and dreams come true.

Leave a Reply