Deciding to move forward with a major gifts campaign – whether it is for capital, programs, endowment or a combination – is one of the most important decisions in the life of an organization. A successful campaign can have a significant, positive impact on a nonprofit, its mission and the people it serves. But how do you know when you are ready to launch a campaign? There’s really only one way: Undergo a Feasibility Study first.

Here are three tips to make sure you are prepared for a major gift campaign:

Start out right
Sometimes an organization will be convinced it can pull off a successful campaign without doing a Feasibility Study. It might be possible, but it would be the exception and not the rule. Studies provide invaluable information on the front end: potential donor prospects, campaign leadership, the community’s feedback, realistic goals, timing and more.

Be open to critiques
The goal of a Feasibility Study isn’t to hear only good news. Its purpose is to provide you with an honest assessment of the nonprofit’s capacity to move forward with a successful campaign. That may include information that uncovers obstacles and challenges. It won’t necessarily mean you’re not ready for a campaign. Very often these insights help nonprofit leaders better communicate their message and address potential challenges before the concerns become a bigger problem.

Reflect on the findings
A good Feasibility Study will provide beneficial guidance to help you prepare for a successful campaign. Once you have invested the time and resources, don’t ignore the study’s recommendations. Even if there’s some work to do before starting a campaign, keep moving forward. The recommendations are formulated with the nonprofit’s best interests in mind.

The Feasibility Study is an essential part of a successful major gift effort. Don’t put your nonprofit’s campaign at a disadvantage before you even get started.