Capital Campaign Deadly sin #7: Pride
The 7th and final deadly sin of capital campaigns is Pride. “If you think it is expensive to hire an expert, wait until you try a DIY campaign.”
When you need a tooth pulled, I would hope that you would go to a dentist. When you need legal advice, it is best to hire an attorney. If you need a financial audit, it makes the most sense to meet with a CPA. So, when something is as important as raising a significant amount of money, why on earth would you risk millions of dollars in lost philanthropic funding by taking a DIY approach?
The greatest expense in a DIY campaign is the money that doesn’t get raised. Research done by philanthropic organizations report that internal, DIY campaigns raise around 50% less than campaigns that use expert counsel. After all, you have got only once chance to get it right!
Engaging a capital campaign consultant doesn’t guarantee that you will raise every dollar needed, but expert counsel will maximize your potential. There is value in the insight, expertise, and resources that comes from experience in conducting hundreds of capital campaigns that can protect you from a negative experience and provide value way beyond the amount your raise and the cost of doing so!
John V. Clark, President/Partner
The James Company