For fundraisers, talking about money can be a daunting task. There are several reasons why fundraising can be a scary undertaking for many nonprofits, including feeling uncomfortable requesting donations, being unsure about how to discuss money appropriately, cultural or societal norms that may discourage discussions about money, fear of rejection, and more. In today’s podcast, Lori Jacobwith from Ignited Fundraising and Stephen Halasnik from Financing Solutions discuss why talking about money is scary for fundraisers.
Why Talking About Money Is Scary for Fundraisers
Fundraising is the lifeblood of every nonprofit organization. And it allows nonprofits to carry out their programs and make a significant difference in their communities. With adequate funding, nonprofits can have the financial resources they need to operate and achieve their mission effectively.
However, despite the importance of fundraising, many fundraisers find it challenging to raise money to finance their programs. This is because of varying factors, including how we are raised, how much we have in our wallets, our perception of money, and more.
This article will explore some of the most common reasons and offer strategies to overcome these fears.
Fear of Rejection
One of the most significant fears fundraisers face is the fear of rejection. When asking for donations, fundraisers are putting themselves in a vulnerable position, and the possibility of being turned down can be daunting. This fear can be especially palpable when you are fundraising for a cause near and dear to the fundraiser’s heart, as rejection can feel like a personal rejection.
To overcome the fear of rejection, you must remember that rejection is not a reflection of your worth or the worth of your cause. There are many reasons someone may be unable to donate, and it is not necessarily a reflection of their interest or support for your nonprofit cause.
Hence, you should focus on your nonprofit mission’s impact and the good that can come from a successful fundraising campaign to mitigate the fear of rejection.
Fear of Failure
Another reason talking about money can be scary for fundraisers is fear of failure. Fundraising can be a high-pressure situation, as the success or failure of the campaign often rests on the fundraiser’s ability to secure donations. This pressure can lead to anxiety and stress, making it difficult to approach potential donors confidently.
Therefore, you should be more concerned about your cause and the progress you have already made. Celebrating past successes and setting achievable goals can help to build confidence and motivate you to continue pushing forward in your nonprofit fundraising effort.
Fear of Being Seen as Pushy or Aggressive
As a Fundraiser, you might also be afraid that donors will see you as pushy or aggressive when asking for donations. This fear may stem from believing that discussing money is taboo or that asking for donations is impolite. However, fundraising is an essential part of nonprofit work, and there is nothing wrong with asking for assistance when done respectfully and professionally.
The fear of being seen as pushy and aggressive can be overcome by building relationships with your donors. You should take the time to get to know donors and understand their motivations for giving, so you can tailor your ask to meet their needs and build trust for effective fundraising.
Fear of not Knowing How to Handle Objections
Finally, fundraisers may be afraid of not knowing how to handle objections from potential donors. Objections such as “I can’t afford it” or “I already support another cause” can be challenging to overcome, especially if you don’t know how to respond.
You should be prepared with a variety of responses to common objections. In addition, you should focus on building relationships with potential donors so that you can better understand their motivations and address their concerns.
The Importance of Building Relationships with Donors
Relationship building is critical for effective fundraising for your nonprofit. If you have cordial relationships with your supporters, the solicitation discussion, including the ask for funding, will come naturally and resonate with your donors. Always check in with your donors before asking them to support your cause. And after they have supported your nonprofit, you must keep getting in touch with them and updating them on how their donations are helping to make an impact.
Talking about money can be scary for fundraisers for many reasons, including the fear of rejection, failure, being seen as pushy, and not knowing how to handle objections. However, with the right mindset and preparation, nonprofits can overcome these fears and raise funds needed to support their mission. By focusing on the positive impact of their cause, building relationships with potential donors, and being prepared to handle objections, fundraisers can confidently approach fundraising and achieve their goals.
Learn About Our Guest
Lori Jacobwith is the Founder of Ignited Fundraising. The sweet spot of her work is to help organizations put a face on their impact by sharing inspiring, ethical mission moment stories. Lori’s focus is to help nonprofit staff & board members implement fundraising solutions that put ease and joy into raising money. To date, she’s helped nonprofit organizations raise more than $500 million.
Learn About Stephen Halasnik
Stephen Halasnik is the host of the popular Nonprofit MBA Podcast. The Nonprofit MBA podcast aims to help nonprofit leaders and their teams. Stephen is the Co-founder and Managing Partner of Financing Solutions, a leading provider of loans for nonprofits in the form of a Line of Credit. Stephen is a best-selling Amazon author and a leading authority on building great, purpose-driven businesses.
Stephen lives in New Jersey, and his top life mission is to raise his two sons, Michael and Maxwell, to be good men