A lot has been said about innovation. More often than not, the term is quite vexing, leaving readers with more questions than answers. We’ve been guilty of it. But now, we want to present a methodology supporting real success at scale applicable for peer-to-peer fundraising. Developed by Fahrenheit 212, this process is called Money + Magic.
According to the team at Fahrenheit 212, innovation is seen to be inherently plagued, suffering from a perception as a resource drain. The internal viewpoint is different:
The model is inefficient, consistently omitting two key aspects that must be present: is the idea disruptive and is there a market. When you fail to address these elements, outcomes truly are a shot in the dark and by and large, unpalatable.
From a lack of funds, personnel strains to technical restrictions, many organizations have traditionally hesitated to invest in new ideas. But the fact remains: non-traditional campaigns are effective, expanding and becoming a real catalyst for growth (impact). In other words, we need to quickly remove any mystique and get to work. Applying this method to fundraising is fairly simple.
Here’s how to get going:
1. Identify your reason for innovation
2. Brainstorm possible solutions
3. Filter out ideas that do not have Money (Market) & Magic (Innovation) properties
4. Take survivors from Step 3; ensure their Risk & Reward is in your favor.
a. You need to understand your KPI’s and ROI metrics to do so
In all of our research around the innovation consultancy, one word consistently appears: Courage. Clients believe that Fahrenheit 212 provides them with it, but I’m sure they would disagree, humbling affirming that they were solely responsible for drawing out the organization’s’ existing courage. So…
Never be afraid of the shift; never fear stepping outside the box, just make sure to do the work and invest in innovation that has the ability to yield real results.
Impact needs innovation. Let’s change the world.
Photo credit: intellectualventures.com
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