Evaluate Results and Strive for Improvement

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Results matter. A revenue source plan can look great on paper, but if it fails to perform, it is a waste of time and money. Organizations should make a concerted effort to regularly evaluate revenue development efforts and develop courses of action to address efforts that appear to be underperforming or not meeting expectations. Remember that, as you implement any new income strategy, it's vital to include key stakeholders from your organization, including your board, key donors, partners, and a selection of clients. Their support and feedback on strategy, timing, and costs will prove helpful in implementing your plan.

Analyze your performance.

After you've taken the time to document a revenue source plan, you'll want to provide yourself time to observe implementation efforts and analyze progress. Compare your performance against the measurable objectives you identified in your revenue source plan. Ask yourself:

  • Are we meeting the mark?
  • Where are we falling short?
  • What evidence exists to show that we are over- or underperforming?

Unfortunately, not all revenue development efforts will take root and yield a valuable return on investment. By carefully noting evidence of your organization's performance, you can target areas for improvement or revise your revenue source plan accordingly.

Diagnose issues and propose corrective actions.

If you find evidence that your organization is not performing as expected or is not on target to meet the objectives you identified in your revenue source plan, you'll need to do some further research to get at the root of the issue.

In diagnosing the issue, aim to identify whether the revenue source is falling short due to internal factors, such as your own staff and the design of the initiative, or whether external factors, such as a generally weak economy in your local area, are at play.

Click to open interactivity Consider both internal and external factors.

Consider both internal and external factors.

Download the revenue source diagnostic tool

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