The Power of Understanding Your Money Story in Fundraising

Attention all Fundraisers, Development Officers, Board Members, Chief Fundraising Officer, Senior Engagement and Major Gift Officers, Alumni Engagement Officer, Director of Alumni Engagement and Development, Director of Donor Experience, ?Director of Family Giving

As a fundraiser, your job is to raise money for a cause that you believe in. However, have you ever stopped to think about how your relationship with money could be affecting your ability to make successful asks?

Understanding your money story is crucial in fundraising, as it can directly impact your confidence, approach, and even the amount of money you can raise.

A money story isn't just about your financial value like income and assets; it's about your unique relationship with money. It represents the hidden language of finances in action - the ongoing narrative you subconsciously craft about your financial decisions, their significance to you, and the reflections they cast on you. It's a continuous inner conversation about your self-worth, your perceived value, and your believed capabilities.

Your money story is the narrative that you have created around money based on your past experiences and beliefs. This can include how you were raised to view and handle money, your financial situation, and any significant events that have impacted your relationship with money.

These stories can be positive or negative but they often influence how you approach fundraising and asking for donations.

Exploring Your Money Story: The Science Behind Making Good and Bad Decisions

Exploring your money story can serve as a powerful tool when it comes to fundraising. It enables you to identify any biases or preconceptions you hold regarding money and its impact on your fundraising abilities. By recognizing and acknowledging these beliefs, you can work towards altering your mindset and improving your approach to fundraising.

For example, if your money story includes negative beliefs about asking for help or receiving support, it may impact how confidently you make asks for donations. However, by understanding this aspect of your money story, you can actively work on shifting your mindset and becoming more comfortable with making asks.

Your results are a direct outcome of what you think and believe. Always.

Your money story is the story of the circumstances, beliefs, and behaviors that have shaped how you feel about money, how you deal with money, and how you spend or save, give or keep the resources at your disposal. These circumstances, beliefs, and behaviors are often more subconscious than conscious.

Neuroscientists have found that 90 95% of our decision-making is unconscious.?This means that the beliefs and patterns in our unconscious mind determine what we want to do next.?The challenge then, is how we can make our stories fully conscious to understand and change.?

Your money story is an important entry point into a new mind shift because it affects and influences many aspects of our lives. If you can modify your money story, you will have made effective changes in your LIFE story and boost your fundraising outcomes.

The Impact of Your Money Story on Fundraising

Your money story can directly impact your fundraising efforts in several ways:

• Confidence: Your beliefs and experiences with money can greatly influence your confidence when it comes to asking for donations. If you have a negative money story, it may cause you to doubt your ability to make successful asks.
• Approach: Your money story can also impact your approach to fundraising. If you have a positive money story, you may feel more comfortable and confident in making asks and connecting with potential donors. However, if you do not have a positive relationship with money, it may impact your approach and make fundraising more challenging.
• If you have a negative money story, you may struggle with setting ambitious fundraising goals or feel uncomfortable asking for larger donations. This could limit the potential impact that your fundraising efforts could have on your cause.
• Results: Your money story can ultimately affect the results of your fundraising efforts. If you have negative beliefs about money or asking for donations, it could hinder your ability to raise as much money as possible. On the other hand, shifting your money story can help you overcome any challenges and achieve greater success in fundraising.

Have you ever caught yourself imagining how donors might react to your requests? At times, you pause, fingers hovering over the keyboard, concerned that you might be inconveniencing your supporters. Is there a worry that discussing finances could make them uneasy or trigger a response akin to how your mom reacted when you asked for money as a child? These thoughts and fears often stem from your money story, but acknowledging them can empower you to overcome them and become a more impactful fundraiser.

Fundraising Lifesaving Lesson #1: Your role isn't to predetermine things for your donors. Remember, donors are individuals with their own thoughts.

How to Shift Your Money Story

The good news is, your money story is not set in stone. With effort and awareness, you can work towards changing and improving your relationship with money. If you find that your money story is impacting your fundraising efforts, there are steps you can take to shift your mindset and improve your relationship with money:

1. Identify your money story: The first step in shifting your money story is to become aware of it. Take some time to reflect on your past experiences and beliefs about money and how they may be affecting your fundraising.
2. Challenge your beliefs: Once you have identified your money story, start questioning any limiting beliefs or biases that you hold about money. Ask yourself if these beliefs are serving you or hindering you in achieving your goals.
3. Reframe the way you think about fundraising: Instead of viewing it as asking for money, think of it as an opportunity to share your passion and impact with others. When you believe in the cause you are fundraising for, asking for support becomes less intimidating and more natural.
4. Practice gratitude and positive self-talk: this can also help shift your mindset toward a more positive money story. Remind yourself of the impact your work is making and celebrate every donation received. This will help reinforce the idea that fundraising is a positive and necessary aspect of achieving your mission.
5. Seek support: Consider seeking support from a mentor, coach, or therapist to help you work through any negative beliefs and shift your money story.
6. Take action: Finally, take action toward changing your mindset and approach to fundraising. This can include practicing making asks, connecting with potential donors, and celebrating any successes along the way.
7. Need some guidance? My book Smart Woman's Guide: The Money Belief Formula. Mindset + Behavior = Financial Success ... is available online.?

Understanding Your Donors' Money Stories

As a fundraiser, it's not just your money story that can impact your asks. Your donors also have their own unique money stories that can influence their decision to donate.

Understanding your donors' money stories can help you tailor your approach and ask to better resonate with them. By understanding their motivations, values, and beliefs around money, you can make more compelling asks. Here are some ways to better understand your donors' money stories:

1. Research: Do some research on your donors before making an ask. Look into their background, profession, and philanthropic history to gain insight into their relationship with money.
2. Listen: When meeting or communicating with donors, listen for any clues about their beliefs and values around money. Pay attention to how they talk about money and giving.
3. Ask: Don't be afraid to directly ask your donors about their motivations and values when it comes to giving. This can help you gain a better understanding of their money story and how it may influence their decision to donate.

Remember, every donor is unique, so don't make assumptions based on stereotypes or generalizations. By taking the time to understand your donors' money stories, you can build stronger relationships and make more impactful asks.

Embracing Your Money Story

Your relationship with money, whether positive or negative, is unique to you and can be a key factor in your success as a fundraiser. By understanding and embracing it, you can use it as a tool to connect with donors and communicate the importance of your cause.

Your money story is a crucial element of your identity as a fundraiser. By recognizing its impact on your asks and taking steps to change any negative beliefs, you can become a more effective and confident fundraiser.

Embrace your story and use it to make meaningful connections with donors – after all, fundraising is not just about the money, it's about making a difference.

You have the power to rewrite your money story and use it as a *tool to make a positive impact in the world. By embracing the right mindset and approach, you have the potential to raise even more funds for your cause and make a greater impact in the world.

Mentoring Mindset Change:

• What can you learn from this?
• How can you improve?

Moreover,?the true magic unfolds when you implement these steps. And the challenge is it can be hard to see what might be holding you back because you're too close to it.

I am currently booking workshops for early summer and Fall.

Connect with me to learn how my upcoming workshops can offer you the tools and insights needed to not only enhance your fundraising skills but also to instill lasting changes in your approach to money and giving.

Contact me today – your future success story awaits!

Keep growing, keep learning

Sue Diamond, M.S.W, is a Certified Financial Social Worker, aka Money Coach, and Founder of The Herfinance Club and Money Mastery Academy . This virtual platform provides financial coaching and resources for women to secure their futures for years ahead.

Susan is the author of Smart Woman's Guide.?The Money Belief Formula: Mindset + Behavior = Financial Success .?She can be found at herfinanceclub.com . You can use her DIY Money Story Guide to gain insights into how your past experiences with money may influence your financial future, then explore Susan's book , 1-1 financial coaching and mentoring services , or money mastery program. To find out more about Susan, visit here !

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