WHAT'S A FEASIBILTY STUDY WORTH?
A question we get all the time is . . . why is it worth getting a study done BEFORE a Capital Campaign, if we already know we are going to do one? We can answer that for you in THREE easy words. BECAUSE YOU SHOULD.
Chances are you might want a little more detail than that. It really all boils down to three main issues at hand:
1) There might be some info left on the table that you don't know about. Some people in your community might not like your project. Perhaps there are some funders you didn't think about. Maybe a community member is aware of some partners to help make your project more affordable. Taking the time to interview community members is vital before starting a campaign.
2) You need an objective point of view. Having someone like MSG do a study for you, makes a difference for your nonprofit. So many times nonprofits, schools, and organizations ask questions to their supporters but sometimes those messages are not sincere because no one wants to hurt feelings. Brutally honest feedback is tough, but makes for a much better campaign. Would you rather have a friend tell you that it's easy to raise money to your face or have that same person tell an objective party that it will be hard but can be done if they talk to Joe, Bob, and Lisa?
3) It shows that you are doing your due diligence. Far too often groups rush into a campaign without doing homework on their community properly. As a result feedback is negative, fundraising goes south, and campaigns end on a sour note. Feasibility studies give a roadmap, to help guide an organization through the next part of a campaign. Let you and your board sleep better knowing that you did your homework before rushing into things.
That's why a feasibility study is so important. Groups will often skip doing them because they can be so expensive, often between of $15k - $100k, depending on the size of your project. Midwest Studies Group not only offers a quality report, but we make sure they are affordable, so that your money can stay with your mission . . . and we can do our part in making sure you get a quality study you can use for capital campaign. To learn more about how a feasibility study can help you, contact us about a free consultation today by hitting that little tiny black contact box on the bottom right of your screen ;-)