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Each year, non-profits raise $300 billion, 13% of which is donated online. And yet, fundraising is one of the most challenging aspects of launching a non-profit.
But with a savvy social media strategy, a passionate and innovative team, a business-inspired financial model and long nights with a laptop, your fundraising efforts can really take off. Here are some tips and advice for starting and funding your own social enterprise.
1. Find Your Passion
Looking internally to find out what you really care about can be overwhelming and confusing, but it is undoubtedly the most essential element to starting a successful social enterprise. The key to discovering your passion is to ask yourself: "What keeps me up late at night, dreaming something that only I believe is possible?"
We all have those things that even in the midst of stress and disarray, they energize us and give us renewed strength and purpose. These are our passions.
It is that passion and determination that we all need to harness when no one is answering our emails, taking our calls or accepting our meetings. When it comes to fundraising for a social enterprise, if you are pursuing your true passion, you'll learn to become great at your craft because you'll care so much about perfecting the skills necessary to make that dream a reality.
2. State Your Values
As our values are the core to who we are as human beings, they are also the easiest way to identify and connect with others in meaningful ways. Think about it — most political campaigns are based around values. Barack Obama's 2008 election campaign galvanized millions of youth behind two very clear values — hope and change. If you believed in either one, you believed in Obama, and companies are no different.
What matters most is that you stay true to those founding values as you grow. My most important mantra when considering growth-related decisions is "Always stay true to your values, not your necessities." Some shiny offers may seem crucial to your necessities for expansion, but if they're in direct conflict with your values, then you may be sacrificing the integrity which you can never regain.
3. Start with Small Ambitions
My non-profit started with a singular pencil. While I was traveling in India, I asked a boy begging on the street, "If you could have anything in the world, what would you want?" and the boy answered "A pencil." I handed the boy the pencil in my pocket, saw the look of joy wash over his face, and at that moment I realized how an action so small could translate into a reaction so abundant.
In order to reach my organization's lofty, often thought "impossible" ambitions, we needed to create concrete smaller solutions, which then lead to a larger path to success. My initial ambition was just to build one school. Nothing more, and nothing less. I threw a birthday party asking friends to donate $20 at the door, and things took off from there.
Just ask yourself, "What can I do right now?" Literally, ask yourself that. Write it down, outline it, do whatever. The simpler and easier to execute the better. Within your brainstorm, several salient solutions will inevitably rise to the surface.
Remember, you never know where the best lessons will come from so start small, be focused, and stay resilient.
4. Speak the Language of "We" Rather Than "Me"
I hear the word "branding" used over and over again, but at the end of the day, the key to branding is creating an organization that people want to be part of and feel a direct and emotional connection toward, and one that adds value in the world. We knew we didn't have money or rich friends because we started as a team of 20-somethings, so in the early days we focused on creating a movement by making each person feel like their contribution was special regardless of size or type.
A core outcome of this approach is that it forces dependence upon our supporters' skill sets and ideas to amplify our message beyond the restraints of their financial contributions. Limiting support to just cutting a check is too passive, too easy, and often unsustainable.
To engage a large audience, give your supporters the opportunity to demonstrate their ingenuity and dedication. Provide tool kits, marketing materials and an infrastructure (for a non-profit this could be an easy-to-use online fundraising platform) and then say "Go."
Once you let the flood gates open, it's important to recognize individuals who have demonstrated a superior commitment. Focus on those superstars and highlight their successes — say, on your blog and social media channels — as a model for others to follow. These dedicated supporters will then become effective brand ambassadors and do much better marketing for your organization than any one individual could do by himself.
5. Act As a For-Purpose
While many in the social enterprise space often qualify themselves as "non-profit," these organizations should instead treat themselves as "for-purpose." These organizations should focus on their mission to create social good, while still treating themselves with the same commitment to rigor and discipline as the best for-profits. People thought I was crazy when I decided to post my organization's financial data, marketing materials and impact reports on our website for all to see. However, I believed that the only way to establish an organization founded in opening up futures was by first opening up our books.
If you treat yourself as a business rather than a charity, you will hire better talent, innovate quicker and measure results more diligently because you heighten your accountability and commitment to fulfilling your organization's mission. In addition, radical transparency should be exercised to increase communication amongst your internal staff and earn the trust of your external supporters.
For many years the era of "non-profits" has reigned supreme. Let's stop labeling ourselves with what does not motivate us, and by declaring a new era of "for-purpose" organizations, we can effectively state what does.
Series supported by FedEx
The Commerce With a Conscience Series is supported by FedEx. FedEx does more than shipping. They offer solutions like transporting heart valves to those in need and helping entrepreneurs bring their ideas to life. See how.
Image courtesy of iStockphoto, Nikada
More About: Commerce With a Conscience Series, features, mashable, pencils of promise, Social Good
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