Why I Don’t Like Innovation in Arts Fundraising — Part Two.

In the previous article I provide warning against jumping too quickly onto the innovation bandwagon.  As I mentioned then, I am for innovation in arts fundraising, but only when it is carefully combined with a program that has mastered the basics.  Below are some thoughts about how to move forward with innovative thinking and new ideas.

How do you know when it’s time for innovation?  Ask and answer these questions –

*Why are you thinking about a new way of doing things?  Be specific.

*Are you successfully implementing the ‘basics’ of fundraising now?  Goals, tactics, timing and resources?

*Are you at peak efficiency but approaching a plateau in results? 

*Are Marketing and Fundraising growth in alignment?

*Is your organization outpacing the fundraising performance of its local peer organizations?  In dollars?  In donors?  In market penetration?

*Do you have available resources to implement new ideas brought about by a new idea?

*Have you thoroughly thought through the innovative idea?  What are the expected results?  How much time will it take?  What will it cost?  What resources will you need?  How do you know?

*What are you enhancing or replacing?  Is the projected net gain worth it?

If you had detailed and positive answers to those questions, then yes, you are likely ready to take action.  Those steps can include the following –

*What may be innovative to your organization / program may be “old hat” for one of your peer groups.  Always ask around, check industry-blogs and post questions on industry-related sites to see if others already have a track record with the idea.

*Develop a pro forma just like you would do with any new product or line of business. 

*Write a step-by-step plan and timeline to accompany the pro forma.  Is the idea worth the effort?

 *Set up benchmarks and then test your idea prior to full implementation, gauging the results and then making your final decision.

Generating innovative ideas is terrific and can be a wonderful way to enhance results.   But always pursue it for the right reasons and keep it real in regards to revenue expectations and the implementation.

Bob Swaney is a successful 20+ year veteran of fundraising for the arts and is the founder of Robert Swaney Consulting, Inc.  For more information, you can email Bob at rsc@rrsconsult.net or visit www.rrsconsult.net .