024: Master the flexible feasibility study

In this episode, I examine how the flexible feasibility study can be critical to the success of a fundraising campaign. I explore the challenges you may face in justifying the budget for a feasibility study, the advantages of using a consultant, but how, by adopting the 'flexible' feasibility study, development offices often have the capability to do some of this work themselves.Firstly, I unpack the two key components of a feasibility study: the assessment of the internal readiness of the organisation and, secondly, the external readiness of its community. I explore how consultants will focus (amongst other things) on your campaign planning, gift pyramid, previous donation patterns, volunteer leadership, and your processes and policies. Consultants will compare these aspects of your organisation with benchmarking and best practice across the sector.Then I cover how consultants consider your external readiness, how they test general perceptions of your school with potential donors and key stakeholders, in order to judge whether you have the support in your community to reach your targets.I then go on to suggest when you might consider making these assessments and conducting the feasibility study yourself. I also talk about when you should consider involving an external consultant either to conduct the whole study or to advise, or coach, you on some aspects of it.Finally, I outline the advantages of using an external consultant, including more honest and valuable feedback on campaign plans, and what qualities you should look for when appointing a consultant.Episode highlightsThe key components of a feasibility study (03:22)Assessing the internal readiness of the organisation (03:55)Assessing the external readiness of the organisation (10:17)How to make a feasibility study flexible (13:27)References and resourcesIf you’re interested in working with me on a flexible feasibility study or getting some school fundraising advice then email me at [email protected] Sign up to Juliet Corbett’s newsletter at www.consultjuliet.co.uk/signup to find out about upcoming School Fundraising Q&A sessionsFind out more about Juliet Corbett’s work and discover a host of free resources at www.consultjuliet.co.ukThank you so much for listening to The Independent School Podcast. I would be grateful if you could spare a couple of minutes to send me some feedback here. This helps me make the podcast as helpful as possible to listeners. Thank you!