Library Strategies conducts valuable feasibility studies to help libraries determine the potential level of private funding that can be attracted to support a capital building project. Because of our deep knowledge of libraries and the role they play in their communities, we are able to anticipate and address the tough questions that inevitably arise during capital campaigns. Questions such as:
Our approach to feasibility studies includes presenting the library vision to 20-30 potential major donors and community leaders in individual, face-to-face interviews. We develop a graphically designed presentation of the project, along with its budget and anticipated funding sources. During the interview, we will ask potential donors to share their opinions of the proposed project, library leadership, and their potential participation in a future campaign.
Library Strategies works closely with the Feasibility Study Steering Committee to help articulate the vision, confirm the desired goal, identify potential major donors, and assist with inviting those donors to participate in the study. We have found that when people are asked by their fellow community members, they are more likely – even enthusiastic – to participate in an interview.
Feasibility studies generally take three to four months to complete, with the most time required for scheduling interviews.
After compiling the results of the interviews, Library Strategies consultants develop a report of the findings and include recommendations for campaign success. We will make recommendations regarding:
The final report will also include a framework for the potential campaign, including a timeline and identification of next steps.