Why is fundraising so hard? We hear about the same challenges from many parents and teams about their past unsuccessful fundraisers. In this blog, we will help you answer the question, how to set a fundraising goal. The difficulties tend to surround a lack of planning and an undesirable offering. The best fundraising ideas start with a simple but well-thought-out fundraising strategy and great product. We know our pepperoni stix sell, but in order to achieve the best results, remember to be SMART about your goal setting. Without defined goals, it is pretty hard to know whether or not you are succeeding.
Creating a Basic Fundraising Strategy
The best fundraising ideas start with a simple but well-thought-out fundraising strategy and great product. Setting a fundraising goal is important because it helps to ensure your team is on the same page with the desired results of the fundraising campaign. However, what does being SMART mean? SMART is a universal acronym used in business and marketing to help companies define and measure their success. SMART; stands for Specific, Measurable Attainable, Relevant and Time-Based. A great goal will touch on each of these topics. Let’s dive in a little deeper and show a few examples on how to set a fundraising goal that brings you success.
Be Specific with your Fundraising Goal
Before you finalize your plans set a specific goal. That might be a specific number of new donors or a set donation amount. For many teams, their goal is an amount of money they need to raise in order to pay for a trip or tournament entry fee.
For example, let’s say a local hockey team needs to raise $1500 to pay for train tickets to get from Mississauga to Ottawa for a tournament. A parent on their teams suggests they look into selling high-protein pepperoni stix from Halenda’s to raise the money at the Oakville Waterfront festival.
Using Halenda’s profit calculator they can see that they will need to sell a minimum of 7 cases of pepperoni stix in order to be successful. Their specific goal would be to sell at least 7 cases of pepperoni stix at $2 a stix in order to raise $1500 dollars.
Before finalizing this goal, the team will need to calculate their expenses. Do they have a tent to use or will they need to rent one? The goal should be adjusted to make sure that all expenses are considered.
The Best Fundraising Ideas Measure Success
How can you set a fundraising goal that is measurable? Some goals are easier to measure than others. If you looking to network or attain leads for future endeavours, this may be harder to measure. You will need to keep track of engagements and decide how you define a successful interaction. Other goals, like financial aspirations, are easier to measure. If your goal was to raise $1500 as long as you keep track of the money, you will be able to identify whether or not you met this goal. If a goal is not measurable, it isn’t a good goal to make.
Make sure your Goal is Achievable
Before finalizing your plans, how can you know if your fundraising goal is achievable? Before you can answer this part of the goal-setting process, you should try and identify any problems or concerns your team might have with the proposal. Some questions you might want to ask yourself are; do you have enough volunteers to make this a successful fundraiser? Does your team have the time to dedicate to selling these products?
Lastly, is this goal attainable?
How Realistic is your Goal?
Along the same lines as the last section, achievable, this portion of goal setting is meant to double-check how attainable your end goal really is. Halenda’s is an incredibly delicious product and over the years, we can proudly say our pepperoni stix have raised over two million dollars for teams, school fundraisers and community organizations. However, if your goal is to raise $500,000 in 3 months time with a team of 12 people, you may need to rethink your strategy.
Large sums of money will require large teams, longer time-lines or significant donors in order to be successful. Don’t set yourself up for failure, make sure your goal is realistic and your and your team will be successful!
Set a Timeline for Success
The last and most important lesson in how to set a fundraising goal is to set a timeline. Without a time-line, you can’t measure your success. Timelines help to structure your team and deadlines help to drive passion and energy to your cause. Setting a timeline can be hard if your cause is on-going. Try using quarterly timelines to ensure success. Break up your year into seasons and set a separate goal for each quarter.
Although Halenda’s pepperoni is shelf-safe with an expiration date of 365 days, a full year is a long time to remain focused on selling and dedicated to a cause. Encourage your team to set aside two to four weeks to dedicate to selling and set an end-date for your fundraiser to measure your success.
Get your Team Involved
So why are fundraisers unsuccessful? The planning process often doesn’t involve the whole team and the goal isn’t developed fully. Set a specific, measurable, achievable, realistic and time-bound goal. Be smart about your decisions and keep your keep motivated with a cause that they care for. The best fundraising ideas start with a simple but well-thought-out fundraising strategy and great product.
And most importantly, choose the right fundraiser for your cause. Looking for some easy fundraising ideas? We can help! Follow us on Facebook for more up to date posts about how to succeed in raising money and awareness for your cause!