Dissolving a Fundraiser’s Portfolio
Dear Diary,
So far, we have discussed Top 4 Strategies for Portfolio Analysis, and 101: How to build a fundraiser’s portfolio, now, it is time to talk about breaking down a portfolio when a fundraiser departs an organization.
Foundational question, why is there a breakdown of a portfolio? A portfolio must be broken down to ensure prospects will be managed in the interim, and it plans for how they should be managed moving forward. It is also broken down, for a build-up. The build-up is the new portfolio that will be adopted by a new fundraiser.
Let’s dive deep…
When a fundraiser announces their departure, save yourself the anguish by meeting with them as soon as possible, and beginning the breakdown process. It would not be wise to start working on a portfolio when the staff member has already left because they store valuable information about the prospects in their portfolio, it is always information that you need to know. So, meet with them and review the current health and breadth of their portfolio. If possible, have them create engagement notes on noteworthy prospects (especially if they don’t leave abundant meeting notes and readouts in the database – you can learn more here regarding meeting notes), this will not only benefit the organization, it will aid the adopting fundraiser. A potential tactic – the departing fundraiser could simply add comments to particular names in a spreadsheet that is then used to advice the new fundraiser, prospect development staff regarding assignments, and fundraising leadership.
Next, evaluate prospect stages to ensure that you have a clear understanding of where majority of the fundraiser’s prospects in portfolio stand, for example, are majority in cultivation? Or is there a split in which 30 percent are in cultivation and 70 percent in active solicitation? This form of revaluation is always timely because you want to answer two questions,
1) What is the macro-analysis on the portfolio? Potential answer – 120 prospects in portfolio, 30 percent in cultivation, 70 percent in solicitation, 50 prospects are rated $100,000 to $250,000, 20 prospects are rated $50,000 to $100,000, etc.
2) Should all of these prospects be adopted by the new fundraiser, or should there be some shifts in strategy? Potential answer – Yes. This is always yes because you want to think of what would be best for the prospect, fundraiser, and whether it fits into your prospect management policy. Also, it is always important to make room for strategic flexibility. Think about this - It could be best for a prospect in cultivation to be moved into a current fundraiser’s portfolio who already knows the organization versus a brand-new fundraiser starting from scratch with the relationship. However (here is flexibility) it could be a good idea for a new fundraiser to adopt this prospect that has already been qualified because they could bring a new splash of energy and strategy towards engagement. In my opinion, there is no perfect answer expect for yes, with the caveat of being flexible when making an assignment decision, prospect per prospect, it will not be one-size fits all for every prospect. This is why it is important to learn from the departing fundraiser the prospect’s journey with the organization thus far, it will help you decide who would be the best relationship manager moving forward.
After the analysis, the mechanics must begin – the actual breakdown, the removal of prospects from the fundraiser’s portfolio in the database or you can do a bulk reassignment. Another suggestion, while shifting is underway, the departing fundraiser could have thoughts on reassignment which should not be ignored. I recognize that we are all experts in our own lanes, but sometimes, suggestions can really add to improvements. If there needs to be a placeholder or hub for names consider a campaign (provided by Salesforce) or a dashboard (provided by Blackbaud) – essentially a place to store names while everyone is thinking about reassignment.
The build-up - This has to be the simplest part of breaking down a portfolio, because you are simply creating a new one. There is a new fundraiser in the role, they have their goals and the structure of their portfolio is clear, therefore, the portfolio must reflect what is needed.
Portfolio building, analysis, and breakdowns are a process that involves many ideas, and the necessary participants. In all, don’t forget that it is a process, so, give yourself time as you do the heavy lifting.
Until next time, April 15th!
