The good news is that most nonprofits do a lousy job approaching businesspeople. It's easy to stand out by doing better. Simply stop treating corporate folks as sources of money and start treating them as an audience.
Here are ten steps to doing that:
- Find your match. Think of yourself as searching for a relationship (not a fat check) with a company. Any relationship needs compatibility to work. Ask yourself, who wins when I win? What corporations are naturally aligned with my audience and my mission? You want to partner around mutual benefits or you won't be partnering at all.
- Find out the business and philanthropic agendas. You need to do some homework before you pick up the phone or fire off an email all about your organization. What are this company's business priorities and philanthropic goals (because they likely already have some)? How can you align with those?
- Find an in. Find a board member or even LinkedIn connection who can introduce you so you're not cold calling. I always respond to people who come recommended by someone I know, and businesspeople do, too.
- Try to get to the businesspeople rather than the community service people. They have more power and can get things done faster. You'll usually fare better if you're coming in as a partner who can drive a brand or business initiative.
- Start your sentences in the right way. Instead of: "This is what we do," say "This is what we can do for you."
- Sell the benefits to them along with the social impact. Instead of: "We need x," say "We understand you need x, and we can help make that happen." Don't only say: "This is who will benefit," ADD, "AND this is how this benefits your image, bottom line, etc..."
- Go into partnerships - like relationships - with open eyes. No partnership is perfect. Look for more positives than negatives in regard to fit and benefits and devise a plan for compensating for weaknesses within the alliance.
- Put work into it. Inevitably, the benefits that partners receive will change, and one partner may perceive diminishing value. Create new benefits if commitment is flagging on one side.
- Communicate constantly. Keep your partner energized by regularly sending them updates, examples of good media coverage, positive reactions from people, stories about impact, etc.
- Know when to call it quits. Knowing when to stop a partnership is as important as knowing when to start one. Declare success and move on when a goal has been achieved, or set a new, finite goal together. Better a clean finish than death by disintegration.