October 29, 2009 | Nick Fellers
I’ve watched development officers come back from planned giving seminars with four D-ring binders full of options, vehicles and mechanics… no joke.
Some people go to school for years to understand those D-ring binders – they’re called accountants and lawyers!
Your job is to get the person/prospect/family to agree they want to leave a legacy – then have the people that went to school for this stuff figure out the mechanics. Stay high level. Stay simple.
Personally, I’ve never done anything with a CRT or creative insurance policy. I know that some gifts have ended up using those vehicles – the ‘how’ was just completed by someone more qualified than me.
I noted to someone the other day that I pretty much only use two ways to close a planned gift.
- PROTECT CLOSE: Asking someone that gives a regular and recurring amount to ‘protect the investment’. Example: Let’s say someone is giving $10K annually. You could rationalize a $200K planned gift to ‘protect’ that annual commitment. Idea is that if you had $200K and you wanted to use that as an endowed gift it would generate about 5% every year — or $10K.
- COMPLETING THE BALANCE: If someone wants to get to a funding LEVEL… say $5M but just can’t because of mechanics you might ask them to work for a gift level and commit to the balance via a planned gift. Example: Perhaps she can figure out how to pledge $3M in cash. The remaining $2M could be planned gift (note: may not help your immediate funding plan but does create a rationale for the gift). Of course, this planned gift pledge could also be converted to a cash gift at a later time… always creative options.
The coaching: Spend time getting people to WANT to fund your impact… COMMITTED to funding your impact… this is what YOU do well. Then, team up with others that do their job well to figure out the HOW-TO.
Complex things don’t work. Simple things work. Look at the D-Ring binders on your self. Look simple?
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October 28, 2009 | Nick Fellers
FACT: Change Organizations are Designed to Not Change
I’ve been very torn about nonprofit boards for several years.
You have a bunch of people that barely know each other. They get together once/month – take 60 minutes to review some info and then they’re asked to make decisions. Really no incentive to take risks… to leap for change. Adding to that, these board members – because they’re are disconnected the rest of the month – feel they need to inject a token voice for concern about the decision de jour. It’s easier to point out how something could go wrong than to try to grasp an idea enough to figure out how to make it work.
One board member voices a concern – the others don’t know him well. No one wants to be the one to say, “That’s ridiculous.” Instead, someone layers it on – this offers both some camaraderie/support for the first objector AND demonstrates active participation by the second board member… and so on and so on.
I mean for this to be less of a rant than it would sound, I’m sure. I’m on boards. I can vouch first hand for the dynamics above. I’m sure I’ve even been ‘guy 1′ or ‘guy 2′. The structure and perceived risk/rewards lend themselves to these dynamics.
This means CHANGE is often killed dead in the water.
Perception: No upside to taking a risk… to changing… only downside… what if it doesn’t work?
Different perspective: What if we don’t change? How many lives do we NOT impact? So what if we fail spectacularly? Isn’t that better than slowly dying?
There is a solution. Simple. Not easy. Be a LEADER. Tell the guy or gal that you respectfully disagree with the WHY NOT… stand for the WHY IT WILL. Be the CHAMPION for change. Be passionate about VISION and moving forward.
Note: I visited with a board about one year ago – at the time of the financial melt down. 14 voices in favor of hunkering down… doing less… changing none. One voice – the board chair – saying, “NOW is the time for CHANGE!”. One year later I was in the same board room – org doing great… changed… I heard one board member whisper, “This VISION thing actually works.”
Absent of strong leaders, nonprofit boards are designed to maintain the status quo – with minutes and reports to back it up. Leadership takes courage, conviction and the ability to take some criticism.
No new wisdom here… Leadership (Rah! Tah!) Vision (Rah! Rah!). That being said, let’s just call this a REALITY and a FACT for the third sector: Change organizations are designed to not change.
Ergo: FACT, need a LEADER!
Good News: Easier to CHANGE when we deal in facts.
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October 20, 2009 | Nick Fellers (admin)
Just saw a note from one year ago today (19 Oct 08) in my journal… from über-investor Warren Buffett:
“Be fearful when others are greedy.
Be greedy when others are fearful.”
My parallel thought goes like this:
Be ASKING when others are hiding.
Be ASKING even when others are asking.
JUST ASK. It was almost a year ago when the economy crashed and everyone in the nonprofit world panicked. I wrote NOW MORE THAN EVER, where I basically said that this too shall pass….. and then that every For Impact organization needed to stay in front of its best investors (not hide under the desk).
I guess the recession is “officially” over. Dow just went back to 10,000. However, there is still a ton of people without jobs; and, clearly, things will never go back to the way they were.
For most of us in the third sector the DEMAND for our services and support has dramatically increased.
NOW MORE THAN EVER… we need to be out with our best CHAMPIONS and PROSPECTIVE INVESTORS.
Go forth… and JUST ASK!
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October 19, 2009 | Tom Suddes
Today is my BIRTH DATE (19th of every month). A great day to review goals, re-connect with special people, etc.
I spent the morning at the coffee shop capturing ‘LIFE NOTES’ from 5 or 6 journals. (I’m revising my LIFE MAP… Version 49.)
Worked outside at the farm, then heading to Sullivan Brothers for a boxing workout. Then, quick visit with grandkids.
*Making your BIRTH DATE special is something I recommend to everyone. One day a month for yourself would seem to be a no-brainer.
P.S. Notre Dame Boxing and the Missions were featured on NBC at half-time of the USC-ND game last Saturday. To view (:02 minute)
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October 19, 2009 | Nick Fellers
Update: My wife, Anna, and I welcomed our first child to the world (very) early Friday morning: William (Will) Xavier Fellers.
Will and mom are doing great. He’s a big baby – coming in at 10lbs 11ozs! He’s built like a tight-end with long legs and big hands. It’s clear he will make an excellent addition to Fighting Irish recruiting class of 2027. Though, growing up around Tom he may just turn those long legs and arms into become a golden glove boxer…
Thanks all for your well wishes and support. Send an email – I’m happy to pass along a picture of the little ‘X-Man’ as many have taken to calling him… though I’m an internet geek I’m still weary of posting Will for the world at three days old 
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October 14, 2009 | Nick Fellers
Wanted to share this illustration of a customized sales process Kerry and I did with a client. If you’ve been to a workshop you will recognize Predisposition > PTO (Present the Opportunity) > Follow-up from the Roadmap: Sales Process.
Though we made it for one client, I think it’s pretty near universal.
- Leads feed into a PREDISPOSITION STRATEGY
- VISIT! Do Discovery and then PTO… could be two visits or one but not more.
- The GOAL is a big deal to me… if we can get them to say, “Wow, this is great, what can I do to help?” Then it’s not about cultivation, time or a chess-like gambit. It’s about communicating the ‘how to help’… now/today.
If they don’t say, “Wow!” then we effectively JUST ASK around the goal… and get permission to talk about the funding plan on the next (second) visit.
- Follow-up – is a STRATEGY, not an ACTION ITEM.
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October 6, 2009 | Tom Suddes
A special thanks to one of our Senior Partners, Steve Geuther…
Are your people STAFF or STAPH??? Are they INFECTIOUS… or an INFECTION???
While this whole ‘economy, recession, implosion‘ thing is just really a sorry excuse for not being out with our best prospects… it does provide a GREAT OPPORTUNITY to RE-THINK and RE-DESIGN and RE-ALLOCATE our personnel, people, team.
STAFF or STAPH is not just about TALENT, but about ATTITUDE!!!
If I were you, I’d use this time to seriously execute on Jim Collin’s ‘BUS’ strategy.
Right people on the bus. Wrong people off the bus. Right people in the right seats.
Read more
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October 6, 2009 | Nick Fellers
My goal is pretty much the same on every first visit. It’s to get the other person to say, “Wow, this is great, what can I do to help?” Tom embedded this simple goal early on – and it’s stuck.
If you can get the other person to say – in effect – “I’m in!”, then it’s not about cultivation, a series of complicated chess moves or backroom meetings about ‘timing’. It is about answering the question: What can I do to help?
You can get there in two years or twenty minutes. It often comes down to your message or how long it takes you to do discovery and make a connection to your message. To get to this goal means:
* Clearly communicating the CAUSE.
* Laying out a tight CASE. (Think of CASE as a solution or address to the CAUSE.)
* You’ve created ENGAGEMENT. In all likelihood, you’ve listened your tail off to do so.
* Bonus: Brought a level of PASSION to the first visit. Read more
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October 6, 2009 | Tom Suddes
“CHANGE is a bear, but it’s better than death.” Seth Godin
I’m finishing up a book/monograph on CHANGE, titled CHANGE [THE] RULES. I saw a recent post by Seth Godin (Best-Selling Author & Permission Marketing Guru) that ended with the above quote.
We just finished a couple of workshops on the West Coast (San Diego) with 150 people. Great group. Great energy. Great desire to change, but…
Still a lot of issues. Here’s my blunt, authentic, challenging (and I believe relevant) call to action.
STOP worrying about the economy, your Board, budget cuts, etc.
START focusing on the SOLUTION, not on the PROBLEMS.
Right now, you have some cash, some talented staff, and a lot of people who are counting on your for help. Read more
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October 5, 2009 | Nick Fellers
As an entrepreneur, people often come to me for advice on ‘getting hired’. As someone that lives in the For–Impact-World (read: often, not always not-for-profit arena), people often come to me for advice about getting into field.
I’m posting this primarily as a reference point – some points are unique, some are not. Although first person, I’m just offering an employer’s perspective. I’m 11 for 11 this year in helping friends find something that really works for them. Good luck!
You want a job. I don’t.
Don’t email asking about ‘job openings’… looking for a job. Etc. As someone that hires people, I’m not really motivated about writing another paycheck.
This means most of the traditional ‘job hunting’ stuff is not relevant.
Instead, I’m trying to align myself with people that are super passionate about changing the world – that see this as a vocation, a calling, a purpose. If it’s a job, then YOUR purpose is a paycheck. Substitute ‘Changing the World’ with ‘Serving People’, ‘Inventing the Coolest Technology’, ‘Shaping Young People’, etc.
Don’t send a resume. Do start a conversation. Read more
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About For Impact
We help "nonprofits" fund their visions through training, coaching and consulting based on 25+ years of experience and $1Billion+ raised directly and $1Billion via coaching/training. For Impact is also our message, our commitment and a movement.
