As I mentioned in the last post I am considering bringing a guest expert on as a regular basis please email me any feedback or thoughts on today’s author. Enjoy the second part of Tim’s article.
In my previous post, I encouraged non profit managers and fund raisers to establish a goal of increasing efficiency. Three simple suggestions to accomplish this are as follows:
- Develop a passion for efficiency (or hire someone who has it). Efficiency doesn’t just happen. On the contrary, inefficiency does just happen. You need someone to spearhead your efforts to operate more efficiently. You might not be the person to do that; that’s fine. Find someone competent.
- Establish a habit of consulting the data before the heart. Hearts are handy things to have when falling in love, watching romance movies and winning sports championships. When it comes to making critical, data driven decisions… Not so helpful. Don’t toss the baby out with the bath water now; ‘gut feelings’ are there for a reason. That’s not what I’m talking about. Just make sure when you’re faced with a question, (e.g. “is it more profitable to call donors twice a year or three times?”), your instinct leads you to consult a statistically valid test. Get your instincts right first; we can talk about how to do the tests later.
- (And this is key) ACT on the results. It should go without saying, (but it doesn’t), that it’s worthless to run a study if you refuse to believe it. Be prepared to act on the data…
In the future, it will be profitable to examine these suggestions and others in greater detail. Until then, happy data driven fund-raising.