How to prepare for writing a fundraising proposal?
When writing a fundraising proposal, there is no one-size-fits-all approach. There will be some subtle differences depending on whether you’re a startup pitching to a corporate investor or an NGO looking for backing for their next project.
But, no matter what you’re fundraising for, there are some universal rules you can apply to majorly boost your chances of success.
1) Identify your audience
Before you start drafting your proposal, really get to know your potential backers.
Get to know what excites your potential donors—find out what they're passionate about, what types of projects they are drawn to, and their preferred way to review proposals.
The better you align your pitch with their interests, the higher your chances of getting a positive response.
2) Set goals and objectives
Set clear, achievable goals for your project using the SMART framework—make them Specific, Measurable, Achievable, Relevant, and Time-bound.
This clear approach helps potential donors get a solid grasp of what you aim to do and the steps you'll take to get there.
3) Form a fundraising team
Put together a team from diverse backgrounds and with a variety of skills like writing, finance, and public relations. Make sure everyone is committed and ready to put in the effort.
Having a team with a broad range of talents really helps improve the quality and impact of your proposal.
4) Gather compelling materials
Collect any relevant media, research findings, pilot results, or testimonials that could support your proposal.
Having a repository of ready-to-use, compelling content can enrich your narrative and provide concrete evidence of your project’s potential impact.
5) Prepare a fundraising timeline
Establish a clear timeline for your fundraising activities, including milestones and deadlines.
Having a clear timeline really helps everyone stay on the same page and keeps the whole team focused. It boosts your chances of hitting your goals because it coordinates all your efforts.
6) Build relationships before you make the ask
It's super important to connect with potential donors or sponsors long before you actually need their support. Just keep those lines of communication open and honest.
This builds a strong foundation of trust, so when the time comes to send your proposal, they're already engaged and more open to what you have to say.
7) Benchmark against similar organizations
It’s really useful to look at other organizations or projects similar to yours that have successfully hit their funding targets.
See what strategies they’ve used, where they put their focus, and what they’ve accomplished. This could give you some great insights on how to tweak your approach and really make your project shine.
8) Follow submission guidelines and instructions
When you're working on your fundraising proposal, it’s important to follow the donor’s guidelines closely.
If there isn't a specific format provided, just organize your information the way the Request for Proposal (RFP) suggests. This helps make sure your proposal fits what the donor is looking for.
Stick to the RFP’s guidelines and try not to add anything extra that’s not asked for. Including unnecessary details could cause your proposal to be overlooked or even disqualified.