midwest studies group

Strategic Planning or Feasibility Study?

Posted on June 28, 2024 
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In just the past 6 months we have been asked many of times at Midwest Studies Group . . . "We want to do a capital campaign. Should we do a strategic plan or feasibility study first?"

What a great question this is, as it has a good "chicken or egg" feel to it. As with anything else in life, there is more than one way to look at this. If you choose to do a feasibility study first, there certainly are plenty of examples of nonprofits who were able to have successful campaigns going this route.

However, we would suggest that you consider doing a strategic plan first, and here is why:

  1. It gives you some direction. Taking the time to strategically think about what a campaign will look like, will give your feasibility study more depth with more details. A successful study is about asking the right questions to the right people. The more details and planning you can get done beforehand, the better . . . ALWAYS.
  2. It gives your feasibility study more clout. When we talk to interviewees during feasibility studies, we often get asked if the organization did a strategic plan first. The reason why some funders like to ask this question is because of the relation to number one above. They want to make sure the organization has taken the time to really think about what they are doing. That the idea of having a campaign is not just something that feels like a rushed decision.

The tough thing about capital campaigns with organizations is that they are so exciting. Staff members and board members are feeling the energy of wanting to get started. Although it means it might take a little extra time, it never hurts to start out with a strategic plan before moving forward with your campaign.

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For more information about Annual and Planned Giving, Strategic Planning, or Capital Campaigns contact us today.

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You need a Strategic Plan to help your organization refocus, interact, connect, and engage.

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