WHAT IS A FUNDRAISING BUSINESS?
“A fundraising business is the type of business that you can start at home or in a small office. A professional fundraiser works with charities, nonprofit organizations, schools, groups and political campaigns to help each organization raise the money it needs to serve its cause. A fundraising business owner may work to plan special fundraising event, call on donors and help guide the organization with its marketing efforts to promote the cause.”(Source: http://smallbusiness.chron.com)
WHO IS A FUNDRAISER?
A fundraiser is a person whose job or task is to seek financial support for a charity, institution, or any other institution.
STEPS TO TAKE WHEN STARTING A FUNDRAISING BUSINESS
1. Find a name for your business
2. Register your business
3. Get a business phone line, website and social networks active
4. Write down a good business plan
5. Invest a capital that would last you for about 6 months into the business
6. Advertise your business
7. If you are working with people, make sure you are working with people that are equally interested in the business
8. Open a bank account
VARIOUS POSITIONS IN THE BUSINESS AND THEIR DUTIES
1. MARKETING DEPARTMENT
A marketer is a person in charge of promoting a good or a service.
• Marketers are responsible for developing, implementing and executing strategic marketing plans for an entire organization in order to attract potential customers and retain existing ones.
• They are responsible for working with executives to determine budgets and targets
• They must have extraordinary communication skills, ability to think creatively and know the importance of budgeting
• They should have a clear understanding of the trends and difficulties in the industry
2. BOOKKEEPING /ACCOUNTING DEPARTMENT
A financial bookkeeper is in charge of keeping track of the company spending.
• A bookkeeper would have the responsibility of balancing the company’s account, checking receipts and payments, bank details of the company, and dealing with all financial paperwork.
• A bookkeeper must be good with numbers and make sure they work accurately. They must be able to meet their deadlines and be very honest and sincere because of the position they hold.
• They must have good Math and English skills.
3. PROPOSAL WRITING DEPARTMENT
A fundraising business would require the company to be frequently writing proposals to various institutions to seek sponsorship and also enlighten other firms as to why they should be ready to work with the company.
• Employees assigned to write proposals must have a good English background and must be able to sound convincing to the company’s clients.
• They must be able to meet deadlines as quick as possible and prepare proposals in a short period.
4. RESEARCHING /SOURCING DEPARTMENT
For a fundraising business to succeed it needs to have a strong team of researchers.
• Researchers have the duty of finding vital information for the company to enable them to be able to compete with their competitors.
• They must be innovative and curious.
• They have the responsibility of finding details about the company’s clients, and potential clients.
5. MANAGERIAL DEPARTMENT
According to F. John Reh “A Manager is the person responsible for planning and directing the work of a group of individuals, monitoring their work, and taking corrective action when necessary.”
• Managers may direct workers directly and must have a fair idea with the work of all the individual groups he/she supervises.
• To be a good manager It is more important for the manager to know how to manage the workers rather than telling them how to do their work.
• A manager must be a leader and not a boss
• He/she must be able to make quick and good decisions.
GETTING YOUR FUNDRAISING BUSINESS TO SUCCEED
1. Don’t be motivated to work just by money
2. Be dedicated and ready to work. Have a passion for what you are doing
3. Know that you would fail several times before you succeed.
4. If working with people, make sure you are working with people who have the same interest in the business as you have
5. Take advertising seriously and know your audience
6. All departments must work together if success is to be achieved
7. Don’t spend more than your income. Limit your expenses
8. Communicate and value the opinions of your customers
9. Have realistic business plans and future projections
10. Keep in mind that nothing is easy.