Fundraising in business is a wonderful thing. What could be better than giving back and reaching out to those in need? It’s a fantastic way to use your privilege for good, and it doesn’t do too badly for your reputation, either. More importantly, efforts here could change lives if you put that money in the right places.
The trouble is that, like anything, fundraising can go wrong. Even worse, this isn’t your typical business muck up. If even small mistakes are made during a fundraising event, you could end up looking like the bad guy. That’s an image you’re going to struggle to shake.
The good news is that avoiding mistakes here is a case of knowing what can go wrong. That way, you can avoid it and keep things in the right direction. Without further ado, then, let’s look at the potential fundraising pitfalls you want to avoid.
Spending more than you receive
Business owners often want to make sure fundraising events go off with a bang. As such, they spend a fortune on merch or pay too much in wages. As simple as that, they overspend on the budget and end up seeing nothing back for charity. This is a problem as it classifies as a fraud. Customers are paying to give to charity, after all, not cover the costs of your event. As tempting as it is to go overboard, then, keep things modest. The focus here is to raise money for charity, not to show how well you can plan a party. Focus on simple fundraisers which keep the focus where it matters. Don’t be afraid, either, to ask for help. Many people may be willing to donate their time or even products for your cause. You just need to pitch it in the right way or offer advertising during the main event.
Putting donated money in the wrong places
While we’re on the subject of fraud, it’s also worth noting that you need to keep a close eye on that donated money. If you lose track of it, it could soon end up in the pot with the rest of your business profit. Then, how are you going to donate it? A good way to make sure this doesn’t happen is to open an online business checking account which ensures you can easily see which money has been deposited and when. Try, too, to keep track of donations through the day. That way, you’ll have a clear idea of how much to give to the charity in question.
Harassing customers
In part, you want fundraising events to win customers over to your cause. But, remember that you can’t harass people, even in the name of charity. Whatever you do, avoid directly asking for donations. Instead, keep donation stations open through your event. Focus on raising money with things like raffles and charity products. That way, customers will feel like they have a choice. They’re then far more liable to appreciate everything you’re attempting to do.
