Misha Dhanak, the chief executive of Spacehive, has shared valuable insights into community fundraising, emphasizing the importance of effective project presentation and collaboration. Spacehive, a crowdfunding platform specializing in community projects, is integral to helping local groups secure funding for initiatives that benefit their neighborhoods. Dhanak points out three essential strategies to increase your likelihood of successful fundraising, especially if you’re a first-time fundraiser.
Dhanak emphasizes the importance of having a title that is descriptive yet clear and concise. She advises that the rule of thumb is if you can’t explain what you’re doing in two sentences, your title is too broad. This groundwork lays the foundation for future funders, giving them the context to better understand and get excited about the initiative. She emphasizes the importance of community members knowing what they have to offer, and how they can best use their strengths.
Successful fundraising often requires collaboration. Dhanak advises seeking support from individuals within the community who possess skills where one may feel less confident, such as marketing or planning permissions. This shared purpose is critical to squeezing through any challenges that come up throughout the first-time fundraising adventure.
Crafting an Effective Project Pitch
“Dhanak is adamant that your pitch has to be persuasive if you want to win support among the people in the community. “It’s really important to make your title short, succinct and clear. If you need to explain it twice, it’s probably too vague or complicated,” she explains. A short, clear, and compelling title provides the first impression to grab attention of potential backers.
She challenges project starters to come up with a story that connects with their community. “Rather than saying: ‘We want to improve the local park,’ it’s much more powerful to say: ‘Local families want to turn an overgrown park into an imaginative space where children can learn about food and nature,’” Dhanak suggests. This narrative-driven technique helps backers to picture themselves as part of your project’s success, improving the chances that they’ll support you.
Dhanak notes the important contribution of social media and local networks in getting the word out about a project. “Social media is obviously essential, but use your everyday networks, too – school newsletters, local exercise classes, the local choir, pub, noticeboards and library pinboards,” she advises. Tapping into these new channels can multiply outreach efforts and help reach more key supporters.
Overcoming Challenges in Fundraising
Community projects have many hurdles, especially for those going down a path of independent fundraising for the first time. Dhanak points out that around 65% of people who come to Spacehive are first-time fundraisers. “Just because you haven’t done it before doesn’t mean it’s impossible – you just haven’t done it before,” she emphasizes.
Daniel Jones, an AECOM community project leader who’s a frequent T4America collaborator FDX0719, voiced Dhanak’s challenge to create brave spaces. He remarks on the importance of having a skilled team: “You’re going to face a lot of challenges, and you’re going to need the right team of people to get through them.” That combination of disciplines across a fairly compact circus tent creates a culture of persistence and flexibility.
Jones’s own fundraising has relied heavily on community engagement, and he emphasizes the importance of this connection in his communications. He recalls how his team created a market booth to interact with the community. They distributed flyers and encouraged people to support their cause through an online survey. “We just went out and got a little market stall with some flyers and a few volunteers,” Jones recounts. This grassroots approach helped to educate potential supporters and served to confirm the project’s fit with community needs.
Building Partnerships for Success
The route to building effective community fundraising usually starts with establishing relationships with local partners or intermediaries. Dhanak suggests that when organizations are looking for partners, approach them with a specific idea of how working together will best serve the community. Knowing what each party brings to the table will help nurture optimal collaboration.
“The platform you choose becomes an extension of your idea, in a sense,” Dhanak states. Picking a trustworthy platform will go a long way toward building trust with your future backers. Familiar partnerships increase confidence in a project’s potential success. When they see a partnership with their local council or a recognizable brand, they are much more confident about the project.
In addition to the Write About Now initiative, Dhanak points to the Co-op Local Community Fund as a great resource for not-for-profit organizations. With £5 million to spend, it is possible for local communities to flourish. This funding opportunity is ideal for coalitions ready to implement dynamic initiatives. Applications for this new fund are due by midnight on July 6.