Secret Weapon ! The Freelance Prospect Researcher
By now all of you know I am kind of a prospecting fanatic. I have spent my career bridging the worlds of the grassroots and major institution fundraising. I have also spent my career going back and forth between the worlds of prospect research and field fundraising. Note, I say “field”. That’s because I fervently believe that researchers ARE fundraisers as well. I believe that a lot of what major institutions do in prospecting, small and medium institutions can do as well but adapted for size and budget.
When I give classes, seminars to medium and small nonprofits they lament that they “can’t afford a Prospect Research” or that “that our budget isn’t focused on prospect research”.
My response is pretty annoying. It’s simply that you “can’t afford NOT to have some sort of prospect research”. After some eyes roll I explain different ways to acquire that research. Yes, it’s awesome to have a full time prospect research officer. I have had several, they rock. Someone dedicated to producing solid leads for your field fundraisers is invaluable. But since I don’t have a magic budget wand for many of you I strongly suggest you go to the next step. Hire a Freelance Prospect Researcher.
What’s amazing is in my seminars few field fundraisers know these nice folks even exist. !! You hire them on a contract or retainer, just like any consultant. “I want to find our current $1,000 donors who could make $10,000 gifts this year”….or “we need to improve Board Recruitment and find key fundraisers” or “we need to identify Hispanic prospects in the $10k and up range”. You get it. Or have them on a steady retainer and reach to them for help, guidance, and analysis. I work with one right now, (and probably drive her nuts) it’s been invaluable. I am just starting up my development team at my new job so it’s not in the stars just yet to have a full timer. But my freelancer is learning my issues and those little nuisances to finding me donors. Just like when you have a full timer, when you engage you’re Prospect Researcher in real discussion and use them as analysts you calibrate them, they get more feedback and get more and more accurate. I realize that prospect research isn’t the only part of the major gifts program, but in my experience is the most neglected and forgotten part.
You can find Freelance Prospect researchers on LinkedIn under the FPRA , Freelance Prospect Research Assoc. or go to APRA’s Prospect L. A list serv for Prospect Researchers. Put an ad on Prospect L and you will get plenty of responses. There are probably other sources I don’t know about.
Whoever runs your nonprofit needs to understand that one common way to be a more effective organization is to have more money through good fundraising. And the difference between what I call “survival fundraising” and “growth fundraising” is time. Spend your time with the people who can make the largest gifts to your institution, who are passionate about what you do and can make those game changing gifts. Through good prospect research you can find those folks. So think about how you want to spend your 40+ hours at work. Let’s get out and compete with those big institutions for those big donors !!
If you like what you hear on this same website under "Contacts" is a list of Freelance Prospect Researchers from around the US
All Articles and Documents Can Only Be Reproduced With Written Permission of Armando Zumaya
When I give classes, seminars to medium and small nonprofits they lament that they “can’t afford a Prospect Research” or that “that our budget isn’t focused on prospect research”.
My response is pretty annoying. It’s simply that you “can’t afford NOT to have some sort of prospect research”. After some eyes roll I explain different ways to acquire that research. Yes, it’s awesome to have a full time prospect research officer. I have had several, they rock. Someone dedicated to producing solid leads for your field fundraisers is invaluable. But since I don’t have a magic budget wand for many of you I strongly suggest you go to the next step. Hire a Freelance Prospect Researcher.
What’s amazing is in my seminars few field fundraisers know these nice folks even exist. !! You hire them on a contract or retainer, just like any consultant. “I want to find our current $1,000 donors who could make $10,000 gifts this year”….or “we need to improve Board Recruitment and find key fundraisers” or “we need to identify Hispanic prospects in the $10k and up range”. You get it. Or have them on a steady retainer and reach to them for help, guidance, and analysis. I work with one right now, (and probably drive her nuts) it’s been invaluable. I am just starting up my development team at my new job so it’s not in the stars just yet to have a full timer. But my freelancer is learning my issues and those little nuisances to finding me donors. Just like when you have a full timer, when you engage you’re Prospect Researcher in real discussion and use them as analysts you calibrate them, they get more feedback and get more and more accurate. I realize that prospect research isn’t the only part of the major gifts program, but in my experience is the most neglected and forgotten part.
You can find Freelance Prospect researchers on LinkedIn under the FPRA , Freelance Prospect Research Assoc. or go to APRA’s Prospect L. A list serv for Prospect Researchers. Put an ad on Prospect L and you will get plenty of responses. There are probably other sources I don’t know about.
Whoever runs your nonprofit needs to understand that one common way to be a more effective organization is to have more money through good fundraising. And the difference between what I call “survival fundraising” and “growth fundraising” is time. Spend your time with the people who can make the largest gifts to your institution, who are passionate about what you do and can make those game changing gifts. Through good prospect research you can find those folks. So think about how you want to spend your 40+ hours at work. Let’s get out and compete with those big institutions for those big donors !!
If you like what you hear on this same website under "Contacts" is a list of Freelance Prospect Researchers from around the US
All Articles and Documents Can Only Be Reproduced With Written Permission of Armando Zumaya