This informal CPD article, ‘The Growth Mindset: Empowering Fundraising Teams for Impact, Innovation, and Income Diversification,’ was provided by Anna Devine of Be-Boss, a mindset coach working in the not for profit, public and business sector.
Whatever your overarching charity mission is, the chances are you’re going to need people and resources to achieve it. Furthermore, you’re going to need people who are driven, passionate, resilient, committed, inspiring and influential. People who can convince other people to ‘give’ money, ‘give up time’, ‘provide’ resources, ‘take action’ and much more. You’re going to need people who can ignite passion in others to do all of this in return for the ‘feel good’ factor. When was the last time you made a purchase and ‘didn’t’ receive anything tangible in return? Did it make you feel good? On the other hand, when was the last time you donated to a cause? How did that make you feel?
So, who are these amazing people behind the charity, and what is it they possess that can influence us to give, to give up, to provide and to take action? These unsuspecting, humble and inspiring people are called ‘fundraising leaders’ and you’ll find them beavering away within charities across the globe. These remarkable people have one particular characteristic in common, a characteristic which is infectious and can fuel transformative change. This characteristic is a ‘growth mindset’ and it empowers charity leaders to shape the strategies of fundraising teams and fortify their ability to drive impact and diversify income streams that fund thousands of charity missions.
How does embracing a growth mindset empower fundraising teams?
The ethos of a growth mindset centres on the belief that abilities, skills, and even revenue streams can be nurtured and expanded through dedication, perseverance, and adaptability. Contrary to a fixed mindset that views capabilities as inherent and unchangeable, the growth mindset empowers fundraising teams to chart unexplored territories, embrace failure as part of the learning process, and innovate for income diversification.
Fear of Failure as a Catalyst for Growth
Within the realm of fundraising for charities, the fear of failure often lurks as a barrier to innovation and diversification. However, a growth mindset reframes failure as an integral part of the journey towards success. It encourages teams to learn from setbacks, iterate on strategies, and view each misstep as an opportunity for growth. By embracing this perspective, fundraising teams can confidently explore new approaches, experiment with new fundraising techniques, and ultimately uncover untapped revenue streams. We have seen this happen during the pandemic when charities across the country displayed remarkable resilience and continue to adapt, evolve and innovate to fund their cause.
Cultivating Innovation for Income Diversification
With a growth mindset, innovation becomes the cornerstone of income diversification in the charitable fundraising arena. A growth mindset empowers teams to challenge conventional fundraising norms, encouraging them to seek modern and innovative paths toward financial sustainability. It sparks creativity, prompting teams to explore hybrid models, incorporate digital advancements, and engage in strategic partnerships—all aimed at expanding the financial base of charities beyond traditional channels.
