“Money Mindset” or your unique set of beliefs and attitudes about money, is the single biggest barrier to success for fundraisers, not the knowledge of the capital campaign best practices or the act of asking. The most glaring error people make as fundraisers is assuming that everyone has the same relationship with money that they do.
I call it the “Fundraiser Money Tango.”
Sound familiar? As a coach working alongside senior nonprofit executives and their boards of directors, I have seen firsthand how individuals relate very differently to money. It’s no wonder we are messed up when it comes to our relationship with money. The Fundraiser Money Tango reinforces the sector’s money scarcity fears. We buy into the belief that fundraising is hard, and we have to work ourselves to the bone towards some random (and possibly unattainable) target in order to be successful.
How do we navigate this quicksand and get back to raising beautiful gifts for our missions?
Step 1 – Get clear on your own personal relationship with money. Your money mindset was formed from the things you heard growing up around the kitchen table. “Money doesn’t grow on trees. Rich people get rich because they save their money, not because they spend their money.” Step away from the money stories you have incorporated as “truths” into your life.
Step 2 – Get clear on how you want to build a relationship with money going forward. If you’re a fundraiser, you are going to have to get comfortable talking about money. Lean in. Seek to understand the discomfort, and what it represents, so you can heal your money wounds.
Step 3 – Leverage money mindset to have more impactful conversations with your donors. Donors have their ownmoney stories. How can you speak to their money archetype profile in a way that will benefit your organization and your fundraising success?
You have an opportunity to help people rewrite their old stories to become more generous, to give more to the causes they care about and, realize their vision for a better world!
For a sector in which “dollars raised” is a leading indicator of success, we do a very poor job of spending time learning about money and the mindset required to be successful.
This is a personal journey for me. Getting clear on my own beliefs about money and using money mindset archetype training to identify the money beliefs of donors, staff and board members has made me a more successful fundraiser.
Money mindset intersects socio-economic status, lived experiences, identity, friendships, and self-worth. It’s time for us to unpack and identify the beliefs that are no longer serving us.
Register for Jenny’s Money Mindset Program and fall in love with your money again in February.
Jenny Mitchell is an executive coach and professional fundraiser. Jenny’s company, Chavender, assists clients across Canada and the U.S., to inspire their donors and achieve their fundraising goals through personalized fundraising coaching and training. Before completing her CFRE, Jenny trained as a classical musician and earned her Doctorate of Musical Arts. She brings her creative approach, her drive for excellence, and her passion for people to the world of not-for-profits.
