Scott Nichols, Boston University
Today, no higher education institution can ignore the need of an effective and efficient fundraising team. With governments looking to wrestle their debts and deficits, education funding is certain to stall or, as the UK has already announced, go into free fall.
One of the most enlightening sessions at Harvard was delivered by Scott Nichols, Senior Vice-President at Boston University. Scott has over 25 years experience in the fundraising field, serving as the chief money man at Harvard’s Law School prior to joining Boston University (BU) in 2006. With a billion dollar BU capital campaign in the works, he shared his vast knowledge with the HIHE Management Development Program students.
Adding my own Advancement experiences, I have taken Scott’s set of principles and practices and with a few edits submit for consideration what I believe are The 12 Laws of Fundraising.
- If you don’t ask, you don’t get: If you abide by any of the laws, choose this one. No campaign has ever failed for a lack of giving, it has failed for a lack of asking. Simply put – If you want to get, you have to ask. Scott noted that in his world the ratio 7:1. Seven qualified asks to every one gift.
- The more you ask, the more you get: How many visits do your solicitors make a month? 15-20 per month should be the answer. Any fewer and your are not asking enough.
- Think big: Or as Scott put’s it “Ever Upward”. We have met the enemy and they are us. No one has ever died from being asked for too much money. Being aggressive will rankle a few donors so be sure to prepare your President or Dean. A big ask needs to marinate so keep in touch even when the donor goes quiet. Remember, that while research can give you a good sense of a donor’s capacity there is probably 2 times more you cannot see. Carpe diem.
- No means Not Now: Be pleasantly persistent. No solicitor died from having been told no. Fundraising is a rejection process, not an acceptance process. Find people who relish removing the hay as much as they do finding the needle.
- Money is attracted by strength: Be worthy, not needy. You institution, school or department must have a compelling vision and a list of priorities.
- It’s a process: research, cultivation, solicitation & stewardship: Fundraising is part science and part art. The science side shows that there is a formal process, that if followed, will generate results. Going a step further, Scott Nichols proposes that the majority of fundraising is research, which in today’s data rich world is not terribly difficult to compile.
- It takes time – years: Contrary to what a number of university and college Presidents would have you believe it takes time to research, nurture, ask, and ask again. Be deliberate in the set-up of your efforts. There are no short cuts.
- Make it personal: People respond to people, not paper. A glossy brochure or email solicitation are helpful but they will never replace the face-to-face ask. Find and hire people who love people.
- People give from the heart first, the head second: Finding out what makes a donor tick, where their passion lay, pays off. Forgo the rational and pitch the emotional.
- Authenticity & honesty count: Be sincere, open and trustworthy.
- Giving begins at home: Campus leaders, whether faculty, staff, board members or senior executives need to be the first to give. If they don’t believe in the cause why should anyone else.
- No one ever died from being told no: See Law #1.
In the words of Scott Nichols, fundraising is simply having “the right person, in the right spot, asking for the right amount of money, for the right purpose.”
Luckily, I work for an institution who believes in the fundamental value of leadership development. For two weeks in June, I had the opportunity to put the day-to-day grind on the back burner and consciously work on my leadership skills at Harvard University. Figuring others in higher education might be interested, both in the program and the subjects covered, I am posting a few of the lessons learned while attending the HIHE Management Development Program.
