Lessons From a Virtual Steak & Whiskey Dinner Fundraiser

Since 2020 began, there have been multiple memes and conversations started with “If you would have told me last November that we …, I would have told you that you were insane”. So, at the risk of being cliché:

If you would have told me last November, that we would have hosted a virtual Steak, Cigar and Whiskey dinner to raise funds for Brazos Valley Cares; I would have told you that you were insane. But that is exactly what happened this last week. Brazos Valley Cares is a non-profit that supports military veterans, their families, and veteran focused organizations in Texas. I am privileged to lead this great organization and to have managed the main fundraiser the last 2 years.

After a hugely successful event last year, we were looking forward to our in-person event in late March, where guests can grill their own steak, smoke a premium hand-rolled cigar, and drink some of amazing whiskey. Obviously, COVID had other plans and our event was postponed. We shifted to August 8th, 2020 (because surely this whole thing would have blown over by then) and 7 weeks ago we made the decision to virtual. I am not afraid to tell you, I had some big concerns about taking a steak dinner fundraiser virtual. But what I learned through this entire process is what entrepreneurs already know. Anything is possible, if you have a good team, a decent plan, and overcommunicate.

As I reflect on a widely successful event, that raised over $160,000 to support local veterans, I wanted to share my top 4 lessons:

Put the right team together

Not only do you need to assemble a team that has bought in to your cause, you need to see what each one of them are good at, and place them in the right position. This year, we incorporated a more rigid organizational structure and split all critical tasks up into committees. We had done this in the past, but what was really different this year, was that we assigned gifted men and women to lead each of these committees. These leaders were not chosen lightly or randomly; but only after a very deliberate review and discussion. This allowed for very effective communication and accountability. There were times early in the process where I wanted to step in and help (micro-manage) but I was gently reminded to “stay in my lane” and let the people we trusted, do their job. This has the amazing result of not only more coordination and timely execution of tasks, even when we shifted to a format that had never been done (by us) before.

It is no surprise that this year we had to adjust and adapt like never before. This team again proved to be our biggest strength. Their collective experience provided a wide variety of council and insight as we struggled with making the call to move the event virtual, and then how to actually deliver in a way that was meaningful to our sponsors and donors; all the while being consistent with our brand.

When you put the right team together, it is easy to trust them. Trust them not only to do the right thing, but to adapt and achieve the mission. While the core of the team had been through 3 events together, many were helping plan this event for the first time. I had to definitely earn the new members trust; and they had to prove themselves to me. However, clear and consistent communication and accountability (even when it was uncomfortable – these are all volunteers after all) goes a long way to quickly establishing trust.

Synchronization (sync) meetings are for syncing, not coordinating

One of the biggest learning points from last year, was that I allowed the sync meeting to devolve into coordination meetings. I thought that everyone deserved to have a voice in the planning of every aspect of the event. This led to longer than necessary meetings and a lot of wasted time. This was also a major reason why we strengthened the committee-chair structure.

This year, it was established from the 1st meeting that if you wanted input on the decisions in a particular area, then you were to serve on that committee. We did not make decisions at the sync meetings; instead we reported on the status of our assigned tasks, removed any barriers to accomplishing those tasks, and assigned new tasks. I remember there was a lot of discussion about a particularly heated decision; but I reminded everyone that if they didn’t serve on that committee, then they didn’t get a vote. There was a bit of grumbling, but we moved on and the event was AMAZING. Again, TRUST your people.

Don’t be scared to spend money on critical infrastructure

One of the first meetings that I had with the event coordinator after the decision to go virtual was made was a budget meeting. We needed to reevaluate how we were going to maximize and change our budget. Out were flower arrangements, decorations, DJ, lights, audio/ video. In were online expertise, videographers, the virtual auction package. Marketing go a huge boost, as we knew that we had to get creative to boost virtual attendance and provide marketing and branding value to our sponsors/ donors.

I have no clue how to accomplish 99% of the technical work that we did. But I knew who did (well actually our event coordinator knew who did) and we hired them. It was not cheap, but without having the right vendors; I would guaranty 100% that the event would have been a flop. Know what is important and get the best bang for your buck; but don’t try to save a nickel when it will end up costing you a dime.

Overcommunicate

 In the best of times, this is a key component to any successful venture. However, in today’s Zoom environment it is even more imperative. Overcommunicate in every direction:

• To the team
• To the sponsors and donors
• To the people we advocate for and serve
• To the community

One of the best examples of this was the email that our event coordinator sent out after every meeting. No only did the email include all of the major milestones (broken down by committee), it included the specific tasks that had to be accomplished, their delivery date, and who had responsibility. This single document kept us all on track and led to the success of the event; even when it felt like I was herding cats.

Entrepreneurs experience similar challenges every day. While you may not throw a virtual fundraiser – you do have to execute your plan in a world that is constantly changing and full of unknowns. Managing this event allowed me to see the world a bit better through the eyes of the entrepreneur. I am extremely humbled and overjoyed to be part of an organization that serves those who served us. It is a lot of work, but the joy you feel when you are part of something bigger than yourself is unmatched.

Being an entrepreneur is one of the most difficult and demanding things you can do. The good news is that entrepreneurship today is a team sport. Hit the connect button on LinkedIn or Facebook NOW and together we will work towards hitting your 10-year target. Along the way we will increase your profit, strengthen your leadership skills and transform your banking relationship into a strategic partnership. This will lead to confidence in your path, freedom to dream up bigger targets and a business that is enjoyable to own. When we connect, tell me about an organization that you are involved with to make your community a better place.

Greg Martin is an entrepreneur’s insider to the banking industry and passionately believes that every person was uniquely designed for a higher purpose and calling. Greg guides entrepreneurs in achieving their 10-year targets. His deepest passion is living life with his wife of 18 years and their wonderful son. Click HERE for more articles, videos, and podcasts.