Financing Your Campaign

In this continuing series, we explore the results of a survey conducted among over fifty state and local new leaders asking for any voluntary advice they might give to new or inexperienced new leaders seeking elected office.

As a candidate, there is one thing that will make or break your campaign more than anything else: the warchest. Yes, the dreaded money question arises right from the start of your campaign the moment you send in your registration fee until either you or your opponent gives the victory speech. While it is certainly true that money is not the only issue you have to spend a lot of time worrying about, it should be near the top of the list.

Despite the fact that a war chest is the lynchpin of a campaign, many candidates will unfortunately neglect to understand this critical truth and fail to give proper attention to its implementation. Sometimes this is due to our human nature; the fact is very few people like to talk about money especially when they are in need of it. If you can relate to this, don’t fret: the following advice will aid you in preparing for your upcoming financial requirements.

Why is the war chest so important? Money is what drives your point across. I have met candidates who claim to have spent less than $2,000 in a campaign. While I do not doubt this fact, those same people were already universally known in their districts and could likely have won if they never left their house during the course of the campaign. Assume you are not this popular (you probably aren’t), you will need to be spending money to drive your campaign. This can range from the fuel in your vehicle to putting out a television ad, but somewhere, somehow, you will require funds for your campaign.

10 financial tips for a successful campaign:

1. Stay up-to-date with campaign finance laws.

Even the best advice is worthless if the law changes how the advice is applied. Make sure that you or your treasurer (see point #2) is up-to-date with changing laws. Sometimes, a critical court ruling can swing in the candidates favor, allowing you to accept more contributions from previous donors.

2. Have a dedicated treasurer.

Many candidates like to be their own treasurer. While there is nothing inherently wrong with this, trying to keep track of every expenditure, fiscal nuance, and legislative change is a daunting task even without the time required for campaigning and occupational work. Many married candidates have their wives assist, others get a high school volunteer. Whatever path you decide to pursue, get some help in this area.

3. Ask everyone you know for a donation.

Some candidates think that, by virtue of them running for office, everyone they call a friend will give them money. This is a false assumption. Once you have declared you are running, ask each and every family member and each and every friend or acquaintance for a donation. The manner in which you request a donation can range from something subtle: “Well Frank, if that’s the way you feel you should contribute to my campaign so I can change that!” To something more intentional: “Hey Susan, would you be willing to consider donating to my campaign?” Writing hand written letters is also a great way to respectfully ask someone who might donate funds but with whom you might not see eye to eye with. In any case ask deliberately, ask often, and be persistent!

4. Ask everyone you don’t know for a donation.

In the same way that you need to request donations from people you know, you also need to request it from people that you don’t. Again, handwritten letters are a great way to do this. Include a self-addressed stamped envelope, be polite but straight to the point, and you might be surprised at the sort of people who will contribute, particularly interested parties for campaign issues. Energy producers, conservation groups, and large corporate entities all have legislative action they are interested in. Note that this is not “buying votes”: if you live in a district with large amounts of federally protected land, a conservation group will be interested in supporting a candidate who is not in favor of reducing the number of acres of said protected land. If this fits who you are, then by all means ask and make your position known! Even if you don’t intend on making such issues a central part of your campaign, you will often find support from such groups.

5. Host private fundraisers in a nice home.

This is especially important if you are known to be a person of some wealth. If you don’t have a nice house, don’t worry, find a neighbor who does. Invite top dollar donors, keep your overhead cost low, and you will often come away with significant contributions to your warchest. Furthermore, it gives donors a chance to get to know you better personally; this is especially useful if they are people with significant influence.

6. Be prepared to self-finance.

Especially during the start of the campaign, you will be withdrawing a great deal from your own pocket. Expecting to pay three hundred bucks out of your pocket is unreasonable; all of your initial cost will almost certainly be from your wallet. Plan accordingly: save before the start of the race, make sure you have few or no other financial commitments before your fundraising kicks in, and avoid unnecessary expenditures like fast food or snacks. Nothing is wrong with wanting these from time to time, but avoid if at all possible. It will not only help your wallet, it will help keep your energy up (you will need it).

7. If you can mention donations: do it.

The title says it all. Have a piece of campaign literature? Next to your contact info say something like “to make a donation, send a letter to…” This will give third or fourth hand people a chance to help you even if you never know them or even ask them.

8. Do your homework.

Many action committees or national organizations keep long term records of past donors. Use this. Then, once you have names, make sure to get in touch with each and every one of them. Even a modest donation can mean the difference between getting another television spot and having to save for postage for thank you letters…

9. THANK YOU LETTERS!

An unthankful candidate can be assured that they are not likely to receive a repeat donation the next time they run for office. A simply thank you letter, hand written or printed, will speak volumes to your donor.

10. Persistence pays off.

Finally, even if you are having a Monday every day for months on end, stay with it. Sooner or later you will get funding from someone, somewhere. Keep a positive attitude, keep smiling while you shake hands, and keep sending letters. It only takes one large donation to make an immeasurable difference to your campaign.