In March I wrote about Asking for permission to ask: “I have stumbled onto a new approach with highly-rated new prospects. I know that most of them already know what I want. So, at what seems like the right time, I ask “What must I do to earn the right to invite a gift conversation with you?”
My big take-away is that these savvy donors appreciate my getting to the point in such a respectful way. I have begun several new major gift discussions using this straightforward invitation.”
I posted my comments on LinkedIn, through the Council for the Advancement and Support of Education (CASE) group, and started a stimulating conversation.
Today I offer an update. I just met with a prospective donor and reflected afterward on my post and the conversation it started.
I met this gentleman several months ago and invited him to let me know what he required for me to start a gift discussion with him. He fit my profile for this approach perfectly. He is a very successful businessman, an entrepreneur, who is entering the stage of life where he is doing two significant things. He is playing with his wealth; he owns race horses and an independent film production company. More important, and to the point, he is starting to think about his legacy through civic and philanthropic engagement.
Not five minutes into my latest meeting he answered the question I asked him months ago. He has a project and $100,000 to help initiate it. He had clearly given it some thought since we first met.
The point I want to emphasize is that my triggering invitation – “What must I do to earn the right to begin a gift discussion with you?” – doesn’t work with every prospect. I knew before our first meeting that he fit the mold for this approach. I knew that he is regularly besieged by people like me asking him for money. What I chose to do was to distinguish myself from them by asking what was important to him and how I might earn his trust.
I haven’t yet asked him for a gift, yet he told me he is considering a $100,000 commitment. Don’t get me wrong; I fully intended to ask as soon as it seemed time to do so. But I chose to plant seeds of credibility and trust as I invited him to become a participant in his philanthropy.