Beneficial Discovery: Why good Feasibility Study interviews are so important
Posted on: October 21, 2020 at 11:30 am
By: Karen Kegg, Senior Associate
Feasibility studies, or planning studies, are a recommended tool for pre-campaign readiness. Interviews are conducted on donors and friends of an organization who desire to launch a major fundraising campaign in the near future. Not only is the study used to test drive a financial goal set by the Board, but to engage the donor base and empower them to make decisions, understand their wants and needs, clear up misperceptions of the organization and the project, and gauge financial commitments and leadership possibilities.
Before the interview stage, many important items must be accomplished by Board and staff. These include:
- A strong estimate of the construction budget plus contingency and possibly first year operations funding.
- A description of the project components and the impact it will make on the people served.
- Draft architectural renderings of the project.
- Location of the proposed construction.
- A clearly defined statement of how the project lines up with the organization’s mission.
Most important, utilizing specific versus open ended questions is imperative in order to accomplish datapoints that will assist the Board and staff in making decisions about campaign strategy. For example, should one component of the project be more desirable than another, a phased-in approach over time may be the best way to accomplish all of the organization’s needs.
Good interviews make good studies. Gathering strategic and focused information will assist the staff, Board, and campaign committees in determining fundraising strategies by understanding the donor’s priorities.
One thing is certain, feasibility studies done well will ensure a successful campaign!