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Forming New Opportunities

Today there are essentially two ways that opportunities for new partnerships are formed: 1. relationship process, and 2. diligence process. A relationship process depends upon, you guessed it, the relationship that exists prior to an opportunity forming and uses trust as the motivating factor. A diligence process, depends upon a set of criteria that are used to evaluate a range of potential partners for an opportunity that the funder has already identified. Most relationship processes include diligence, and most diligence processes involve some sort of relationship. The best thing that you can do is prepare for both.

The fact is that while trust-based philanthropy grows as an approach used by more organizations, the process of due diligence is not going away. It’s key to know what to consider when forming a new opportunity – whether that is a new program, a new investment, or an existing project. Here are some suggestions on what you should prepare before seeking a new opportunity from a partner:

As the winds of change sweep through the world of grantmaking and nonprofit programs thanks to the leadership of movements like Trust-Based Philanthropy, funders and nonprofits must constantly evaluate their portfolios and seek out new opportunities for collaboration. But before embarking on a new venture, it is crucial for all sides to carefully consider their shared values and goals, as well as the resources and capacity required to bring the initiative to fruition. Without this, misunderstanding and misalignment of outcomes will turn a good idea into a living nightmare. Funders and nonprofits alike benefit when they take the time to empathize with the goals and motivations of their potential partner, allowing you to marry those goals to your idea and get the opportunity started.

If you’ve done this work and you’re ready for what comes next. Check out our articles on the Art of Discovery and Before the Intro to learn about how to start a relationship with a prospective partner.

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