150: Developing Discipline - Inviting Donors

"..Consistent with social learning theory, individuals tend to carry beliefs about money and money skills learned in childhood into their adult lives..."

This week, I’m reading selected quotes from Money Beliefs and Financial Behaviors by Bradley Klontz, Sonya Britt, and Jennifer Mentzer, published in 2011.

Reflection Question:

• Which money script have you been operating in and how might you develop a new discipline?

Reflection on Quote:

An experienced campaign volunteer once told me that a capital campaign is like riding a wild, unbroken stallion without a saddle.  I’ve contemplated those words often as I coach clients.  When faced with an unruly stallion, we can either let the stallion take control or we can develop the discipline to work with him. The same applies to capital campaigns.  We can let the capital campaign spin out of control or we can develop discipline for the crucial elements of the campaign.  So, this month, we are starting a series on developing that discipline.  The first discipline we develop is becoming comfortable with inviting donors by unpacking our own beliefs around money before discussing generosity with them. 

During a capital campaign, these money scripts can allow the wild stallion to take over.  Those with money avoidance scripts can struggle with even inviting a potential donor to find out more information about the project. Those with money worship scripts tend to engage in magical thinking around one major donor that will complete the campaign without engaging a broader base.  Those with money status scripts can find crossing wealth classes intimidating when building a relationship with a more wealthy donor, and then approach that donor apologetically without confidence in the project.  Those with money vigilance scripts may find capital campaign work too all-consuming and focus on tasks that don’t move the campaign forward.  The good news is that, in my experience, once we recognizes our own money scripts, we can develop new disciplines in discussing generosity.

Copyright: Klontz, B., Britt, S. L., Mentzer, J., & Klontz, T. (2011). Money Beliefs and Financial Behaviors: Development of the Klontz Money Script Inventory. Journal of Financial Therapy, 2 (1)

To explore small town capital campaign coaching deeper and to schedule an free explore coaching call, visit ServingNonprofits.com.

Music credit: Woeisuhmebop

Transcript

0:00

Welcome back. Every week we pause to reflect because capital campaigns, especially in small towns, aren't just about buildings and budgets. They're about people choosing to be generous. This podcast explores the beautiful space where generosity occurs through ancient and modern writings from all cultures and religions seeking deeper wisdom for capital campaign work in small towns. Whether you're just starting out or deep in the middle of a campaign, these five minute reflections will ground you, encourage you, and remind you why this work matters. An experienced campaign volunteer told me that a capital campaign is like riding a wild, unbroken stallion without a saddle. I've reflected on those words often as I coach clients. When faced with an unruly stallion, we can either let the stallion take control, or we can develop the discipline to work with him. The same applies to capital campaigns. We can let the capital campaign spin out of control, or we can develop the discipline for crucial elements of the campaign. So this month, we are starting a series on developing that discipline. The first discipline we develop is becoming comfortable with inviting donors by unpacking our own beliefs around money before discussing generosity with them. This week I am reading selected quotes from Money Beliefs and Financial Behaviors by Bradley Klontz, Sonya Britt, and Jennifer Mentzer, published in 2011. Quote Consistent with social learning theory, individuals tend to carry beliefs about money and money skills learned in childhood into their adult lives. Money scripts, defined as beliefs individuals hold about money, are developed in childhood, often passed down from generation to generation in family systems, typically unconscious, contextually bound, and a factor that drives much of one's financial behaviors. Money avoiders believe that money is bad or that they do not deserve money. For the money avoider, money is often seen as a force that stirs up fear, anxiety, or disgust. For our money worshipers, more money will make things is a common belief among Americans. Individuals that subscribe to this notion believe that an increase in income and or financial windfall will solve their problems. Money as status scripts are concerned with the association between self-worth and net worth. These scripts can lock individuals into a competitive stance of acquiring more than those around them. Individuals who believe that money is status see a clear distinction between socioeconomic classes. For many people in the money vigilance category, money is a deep source of shame and secrecy, whether one has a lot or a The money vigilance factor, as identified in the study, appears to be linked to alertness, watchfulness, and concern about money, and the sense that one must be heedful of impending danger or trouble. Unquote. During a capital campaign, these money scripts can allow the wild stallion to take over. Those with money avoidance scripts can struggle with even inviting a potential donor to find out more information about the project. Those with money worship scripts tend to engage in magical thinking around one major donor that will complete the campaign without engaging a broader base. Those with money status scripts can find crossing wealth lines intimidating when building a relationship with a more wealthy donor and then approach that donor apologetically without confidence in the project. Those with money vigilance scripts may find the capital campaign work too all-consuming and focus on tasks that don't move the campaign forward. The good news is that in my experience, once we recognize our own money scripts, we can develop new disciplines in discussing generosity. Let's reflect on one question this week. Which money script have you been operating in, and how might you develop a new discipline? Share this podcast if you enjoy these five minute reflections and subscribe to receive these reflections released every week. To explore small town capital campaign coaching deeper, visit serving nonprofits.com. See you next week.