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Fusing His Passion for Business with His Passion for Social Good: A Conversation with Moshe Hecht

With Moshe HechtEP 145

What are the secrets to successful fundraising in the nonprofit sector – and can those secrets be translated into advice for business owners in the for-profit world, as well?

There are so many misconceptions about fundraising, and the more time passes, the more entrenched these myths become. In this episode of Let’s Talk Business, Meny talks to Moshe Hecht, who has changed the nature of fundraising repeatedly – both as a philanthropic futurist at Charidy.com who helped over 7000 organizations raise almost 3 billion dollars in 7 years, and as co-founder and CEO of HATCH, the world’s first Giving Intelligence Platform. Moshe and Meny dispel some of the misconceptions while offering practical tips that can help you raise money, too – whether you run a charity or a for-profit business. It’s an enlightening conversation, so don’t miss it.

Transcript

[00:01 – 08:21] Opening Segment

Introducing Moshe Hecht, the co-founder, and CEO of Hatch, a giving intelligence platform
His experience working at charity.com and helping raise close to $3 billion for charities
How Hecht saw a gap in organizations not monetizing their donor data and founded Hatch to address this issue
Helping organizations understand their donors’ potential through data analysis
[08:22 – 15:42] The Platform Revolutionizing Fundraising and Marketing Efforts for Nonprofits

What allows organizations to prospect for different opportunities and enhance their fundraising and marketing efforts
Where the idea for charity.com came from
The prevalence of crowdfunding for small businesses
How charity.com flipped the script on traditional business models
[15:43 – 22:43] Building a Successful Platform for Social Giving

Understanding the psychological motivations of donors and creating a sense of urgency
How social aspects play a big role in donor motivation
Building a platform for a specific audience is important for success
Emotional connection is important in building products and businesses
[22:44 – 30:05] The Importance of Setting Ambitious Goals in Fundraising

Setting goals and helping organizations get the job done is key to sustainability
Belief in oneself is the key to successful fundraising campaigns
Successful fundraisers believe in the urgency of the cause and their capability to make a difference
Fear of failure is a common obstacle for fundraisers, but belief in oneself can overcome it
[30:06 – 37:22] Maximizing Your Database

How data can help nonprofits and businesses target their constituents for better results
The value of data in targeting and tailoring marketing campaigns
The importance of strong leadership in business success
How targeted campaigns based on public sources and third-party data can increase referral power and donations
[37:23 – 45:02] How to Identify Potential Donors

How to communicate better and increase donations for fundraisers
Marketers can use public data to identify potential donors who match their event
Nonprofits are growing based on people’s lifestyles and interests
Fundraisers can expand their prospect list by using signals of wealth and capacity
[45:03 – 49:06] Closing Segment

Building relationships and cultivating donors over time is critical for fundraisers
Hetch on the rapid four questions

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Practical Pointers
When you’re building something, know your audience really well and understand the psychological motivations that will get them to do what you need. Your success is much more assured when you build around those motivations
People are more likely to give to a cause when they believe that they’re moving the needle; so it’s important to set a goal, and to make that goal public. When givers see that they’re contributing a certain amount to a desired endpoint, they’re much more likely to participate. And this is true for all businesses: you need to give them something to help them accomplish a specific goal and get the job done.
Set fundraising goals that are responsible, yet ambitious. If the goal is too easily attainable, people may assume that you’re going to reach it without their participation. By setting ambitious goals, you’re inspiring your potential donor’s ambition by telling him that you need him in order to reach the finish line.
The biggest difference between successful and unsuccessful fundraisers is believing in yourself - meaning, believing that your cause really matters, believing that you have the ability to raise the money you need, and believing that if you raise that money, you and your organization will be able to do great things.
Today, nonprofits are growing based on people’s lifestyles. So don’t just think in terms of dollars and cents; think of ways to involve people in events that they already enjoy - whether it’s golf, or running, or anything else - and use that as a way to help engage them and enlist them in your next campaign.
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Guest Bio
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Moshe Hecht

Moshe Hecht is the co-founder and CEO of HATCH, the world’s first Giving Intelligence Platform. A philanthropic futurist and innovator, Moshe previously built a global team and platform at Charidy.com that helped 6000 organizations raise over 1.8 billion dollars in 7 years. Dedicated to advancing philanthropy through the use of technology, he won the Nonprofit Technology Professional of the Year award, and his articles on the future of giving have been published in Forbes, Guidestar, Nonprofit Pro, Nonprofit Quarterly and eJewishPhilanthropy.

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