At Midwest Studies Group, we are frequently asked about capital campaigns. Fundraising firms often recommend starting with a feasibility study, which is something we’ve discussed before, such as in this post: Want a Successful Feasibility Study? Be a Trombone.

When starting a feasibility study, there are two main concerns that often arise:

1. Do we really need one? Are we wasting money? The quick answer, which we won’t delve into here, is YES, a feasibility study is always worth doing. At best, you gain insights into your donors' thoughts and an idea of how much money you might be able to raise. At worst, you find out that you’re not ready for a campaign, but you’ve spent only a small amount on the study compared to the large sums required for campaign support.
   
2. What if the report suggests we put our campaign on hold or recommends that we take certain steps to find success? This is what we want to address today.

Here are a few things to consider when you receive the suggestions to wait:

• Keep your emotions in check. This is often the hardest part. Some people may want to push forward regardless. This is often due to "pride" or the feeling that waiting is the same as giving up. Ignoring professional advice and moving ahead anyway puts personal interests ahead of the organization’s best interests.
  
• Does that mean an organization has never had a successful campaign after a study recommended waiting? Not at all. We know of a FEW campaigns that have succeeded despite study recommendations. However, the vast majority of the time, a feasibility study helps guide a successful campaign.
  
• Public trust is a crucial tool in a campaign. Waiting and heeding the advice of a fundraising professional is always a wise move. It’s not a STOP sign but a YIELD sign, suggesting you should wait until a few things are in place.For instance, you might need to wait for your board to be fully prepared, for donors to be ready due to other projects in town, or for the community to see your organization build a solid reputation.
  
  Nothing is worse than moving ahead with a campaign against professional advice, only to find that funds aren’t coming in as expected. This could result in a funding shortfall, damage to your public image, and make it harder to raise money in the future. Don’t risk losing public trust.
  
• Remember, your fundraising firm is on your side. A reputable firm will tell you what needs to happen to ensure success because they want to succeed as well. By advising you to wait, they are not only avoiding the risk of giving you campaign support prematurely but also protecting their own reputation and public trust. So their word should be trusted.

In fact, this is why MSG separates our feasibility study contracts from our capital campaign contracts. We aim to keep our studies 100% independent of any future work so we can objectively advise you on whether to proceed with your campaign. If a reputable firm advises you to wait or that certain steps need to be taken, you can trust that advice. No firm wants to be involved in a campaign they believe isn’t ready.

This can be tough to hear. If we’ve dampened your hopes and dreams, please don’t give up. Simply follow your fundraising firm’s advice and address any necessary steps before moving forward. We’ve seen many organizations raise more money because they took the time to prepare properly.

Have more questions about campaigns? Be sure to fill out our contact form at www.midweststudiesgroup.com.