Here we go again. It was about this time in 2008 that the world watched nervously as economic indicators ticked downward and the unthinkable started to happen. Financial institutions were collapsing and credit markets were seizing up. Businesses started laying off workers and people were saving at rates they haven’t in years, fearing that a loss of their job would render them unable to pay their bills. Volatility ruled the day.
If the last month or two has reminded us fundraisers of anything, it’s that this remains a period of apprehension and uncertainty in the world economy. We watch the markets not only for an indicator as to what our retirement accounts look like, but how the up and down spikes might affect our fundraising outcomes. Whether or not this ends up being a recession or just a good scare, it can still be unsettling for many people as they make their decisions on which philanthropic institutions to support and how much their contribution will be. And this is why we need to make certain we have a sharp, sound strategy going forward with our phonathon programs.
Here are four things to think about as we gear up for another potentially challenging fiscal year.