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Exit strategies

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by

Sara Carroll

on 31 October 2014

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Transcript of Exit strategies

Exit Strategies
What is an exit strategy?
It is essentially a plan
We'll go from here
to here
(cc) photo by Metro Centric on Flickr
(cc) photo by Franco Folini on Flickr
(cc) photo by jimmyharris on Flickr
...and then here
(cc) photo by Metro Centric on Flickr
well researched
Project Management
Why do I need an exit strategy?
Most funding streams are fixed term
It is necessary for projects expected to
continue after original money has been spent
What organisations tell us
"We have a duty to our service users and our staff to look beyond the end of this funding"
"We know what we're doing works, so we need to find ways to build on our successes to attract more funding"
What funders tell us
"We're looking for sustainability in the projects we fund"
"When we do fund projects for a second time, we want to see them developing and learning from earlier stages"
Succession Routes
Sourcing new channels of
financial support
Contracting your services
through the public sector
Diversification as a business
Time-limited projects
Tips for succession planning...
2. Systems
Set up a project management system that is 'fit for purpose'
Establish quality management procedures
Provide evidence your project is delivering to contract and striving for improvement
Make sure you can account for and evidence all expenditure
Demonstrate that you have identified the major risks to delivery and set in place plans to mitigate them
A commitment to diversity in all aspects of your project
A commitment to sustainable development in all aspects of your project
3. Project delivery
Strive for SMARTER objectives, which are understood by all
A track record of effective delivery is a powerful marketing tool
Ensure that your project is visible to those who can help sustain it
Prove that your project represents good value for money
4. Partners and networks
Effective networking can help you to deliver your project
Aim to raise the profile of your project amongst decision and policy makers & demonstrate how you are helping deliver their priorities
Partnership working is an opportunity to increase the breadth and depth of your delivery
A constructive funder relationship increases the chance of successful project delivery and increase chances of further funding
Show your project is clearly shaped and driven by demand
5. Forward planning
Being able to place your project in the context of local, regional & national policy will add weight to your arguments for sustainability
A robust business plan will encourage you to think strategically
Evidence of need and/or demand will add weight to requests for funding
Measuring impact against a baseline allows you to show others the difference your project is making
Embrace change as an opportunity and don't be afraid to question what you are currently doing
Make your fundraising strategic & focused - remember to invest sufficient resources in order to raise further funds
Aim for a diverse funding base with sufficient capacity to develop and grow through reinvesting earned income
Sources of help and support
3-SET
Local CVC
Better
Bids

Wales Co-op
Thank you!

Any questions?

When to begin?
Our exit strategy is...
Strive for a diverse funding base
Ensure that your legal status is ‘fit for purpose’
Ensure you have access to the right mix of skills to help you plan for the future and try to maintain stability in the run-up to cessation of project funding
Recognise your board/steering group as a resource for sustainability
Project success is often determined by the ambition, drive and commitment of those who lead it.
Try to secure sufficient resource and capacity to plan for, and secure, succession
1. Project Capacity
WCVA
Funding Advice
Full transcript