You may have heard of Jerold Panas.
He wrote the best selling book on asking in the entire fundraising world. It’s called Asking: A 59-Minute Guide to Everything Board Members, Volunteers, and Staff Must Know to Secure the Gift. It’s terrific! I reread it every year. Jerry writes brilliantly and what he says is worth reading. Jerry is also the CEO of one of the nation’s premier consulting firms—Jerold Panas, Linzy & Partners.
Why am I talking about Jerry Panas? Because Jerry is talking about me. More specifically, Jerry wrote an article in reference to an article of mine about feasibility studies.
My article, Feasibility Studies: An Unnecessary Expense Designed to Make Consultants Rich, or an Important Part of Your Next Fundraising Campaign? questions the validity of feasibility studies. Do you need one? And if you do, is the standard model really the best? (You can read my original article on Guidestar here.)
Jerry’s article does exactly what I hoped for. To have a dialogue about this important topic. I’d love for you to join in too.
But first, check out Jerry’s article below and let me know what you think.
Are Feasibility Studies Necessary Or A Waste Of Money?
By Jerry Panas
Andrea Kihlstedt is an author of note and a brilliant speaker. She knows a thing or two about our work.
She wrote an article recently about feasibility studies. She asked the question — are feasibility studies necessary or a waste of money?
I am unequivocal on the subject. I know the answer. In a moment, I’ll tell you what I think. (You’ve probably guessed!)
But first let me tell you about the head of a fundraising firm she quotes. He says a feasibility study is absolutely unnecessary. Unnecessary!
His position is why would you talk to a donor about a hypothetical campaign with a hypothetical goal, and how much the donors would hypothetically give? (No question where he stands on the issue!)
I would say to any who questions the value of a feasibility study…
To find out where Jerry stands, read the rest of his article here.
What do you think? Are feasibility studies worthwhile? Share your thoughts in the comments.