10 Steps for Effective Calculated Forecasting
Strategic planning during a global pandemic might seem impossible, outrageous even. However, a failure to think ahead during a crisis is a risk. The unique challenges and opportunities which may present themselves in the next 6-12 months for your nonprofit should impact the decisions you make today.
An article from Nonprofit outlines a process of 10 forecasting steps to take in a team meeting, similar to following a SWOT analysis for nonprofits:
Decide on the scope and the strategic goals of the activity you will evaluate.
Gather those relevant to the activity being evaluated.
Explain the exercise to everyone.
Consider what the future would look like if everything goes as anticipated and how many resources it would require.
Consider unanticipated problems internal to the nonprofit that might seriously undermine the expected vision of the future.
Complete the previous step for potential external problems.
Consider unexpected opportunities that may come up.
Check for potential cognitive biases relevant to you personally or to the organization as a whole.
Add 40 percent to the resources you anticipate.
Communicate effectively to key stakeholders about additional resources needed.
Ultimately, this article is highlighting the importance of transparent communication in development forecasting. What can strengthen and unify this process is having a firm grasp on your donor data. At ZGIVE, our mobile-giving platform for nonprofits can offer you key insights into your supporters’ mobile behavior, which will be absolutely critical to the future of fund development.