I have written numerous times on my blog about the fact that money is overestimated in election campaigns. Do you remember anything, an ad or tagline, from Mike Bloomberg's campaign for the Democratic presidential nomination? Does the name Tom Steyer ring a bell? He's another wealthy candidate who blew millions running in the Democratic primary just two years ago. And I could go on and on as money in itself is not communicating a message nor does not mobilize volunteers.

The key to win an election is to have a winning campaign plan, with an appealing message, and enough money to communicate your message to your target audience, and to implement that plan.

Now, how much is enough? It is a good question, which many candidates never ask themselves. As a matter of fact, many candidates think about it in the exact opposite order: they think about how much they can possibly raise. Then they think how they will spend that amount. Sound planning should follow the reverse order:

1. What is the goal?

2. How many votes does it take to reach that goal?

3. What is the plan I need to implement in order to reach that number of votes?

4. What is the price tag for that plan?

The answer to question number four is the amount that is enough in your case, and that is the amount that you should try to raise.