A 360 Prospect Approach: Expanding on Networks

Jan 15

Jan 15 A 360 Prospect Approach: Expanding on Networks

Dear Diary,

Happy New Year!! It’s 2023. I plan on giving us fruitful ideas this new year, and I hope you’re joining this year feeling open and ready to receive new skills and ideas. I think we’re all going to grow so much this year, in this field, and I’m excited for us. Thank you for showing up to this opportunity, and for allowing me to share through my Diary. Re-entry back into the hustle of fundraising after some time off (if you were able to take some time off) is not always easy so I truly hope you’ve paced yourself, and have intently taken time for breaks during the day.

If you’re ready, let’s begin - Today, we are going to learn about the phrase, “a 360-prospect approach.” What does this mean? Well, after the research is complete - you’ve got the biographical information, some company information, philanthropy, assets, etc. There is another part of the fundraising and development process- the prospect’s network. A 360 approach allows us to look at the whole prospect in a full strategic scope. Research helps us to know targeted information, and reach inclination and capacity. A person’s network, strategically scopes out the paths of engagement, regardless of whether they are warm or cold prospects. The question is always, how can we better introduce ourselves, engage this prospect, and/or really push the cultivation process along (at times progress can become stalled with no fresh ideas on how to move things forward)?

A 360 approach encourages the research strategy and network expansion. Now we dig into relationship mapping.

Scenario

The Prospect: Eve L. Ortiz, 48 years old, Managing Director at Ruby Express Ventures

Company: A venture capital firm headquartered in Columbus, Ohio. Ruby Express Ventures held $12 billion in assets under management, as of December 31, 2022.

My Plan: Eve attended Grove University. Alumni - who could she introduce us to, and who do we already know in our network that attended Grove University that could introduce us to her?

Influential peers - who do we know that could talk to Eve on our behalf? Peers could be people in the venture capital industry in Ohio?

Ruby Express Ventures- there are 8 Managing Directors, I wonder if there is a way for us to get in front of them - a presentation at the firm? This could be an opportunity for a Company gift?

What philanthropic organizations or professional associations does Eve belong to that we could be indirectly connected to?

These are all ways of getting to, and learning the full story of Eve. Here are my thoughts illustrated and enhanced. Additional note: paid tools (such as RelSci, IWave, and DonorSearch) have relationship mapping functions so please take advantage of them and ask your representative at the respective company on how to navigate the tool. In terms of free sites, and strategic ways of mapping out relationships, one resource I’ve used is LittleSis, a site that is helpful with more well-known names, and is grounded on user-provided information (these instructions are helpful on how to use the tool). As it goes for free and paid resources, always, always, always, verify the information. A great researcher is a skeptical and curious one, interested in making sure that facts are shared.

My Plan Illustrated (using the questions above as guides)