A disservice: The top five mistakes of the wealthiest philanthropists

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Lack of strategy, irresponsibility, and other major mistakes of owners of large capitals who decided to do charity work — this is what we are talking about, but not in the case of gclub24hr.com. Special symbols provide an extension of the game algorithms due to the presence of additional rounds. Mini-games of a thematic nature or free spins allow you to get good prizes, and the doubling round increases the reward for a successful spin.

Mistake №1: frivolous attitude

There is a common fallacy that it is enough to open your own fund, gather a team, and from time to time, follow what is happening inside — and you can already be called a philanthropist. When rich people start doing philanthropy, they somehow think it’s not as serious a job as business or that once they have built a successful business, they know exactly how to solve the problems of orphanhood or homelessness. In business, everyone has a strategy, people are constantly learning new things, consulting, going to forums, ordering research, and when it comes to a charitable foundation, they think that they can let it go at that.

To become a successful and effective philanthropist, you need to engage in development. It is important to invest in yourself as a philanthropist, in employees, in creating a working board of trustees, infrastructure, and strategy – all this takes time and money.

Mistake №2: closeness

The development of philanthropy is strongly hindered by various types of fear:

  • criticism concerning you
  • admit that you do charity work
  • tell us about your money.

Everyone wants to be perceived as generous people, and they are very afraid of criticism, so many philanthropists prefer to sit in their cocoon and avoid representing their foundation publicly. But, unfortunately, it is not possible to learn effective philanthropy in this way. If you don’t communicate with anyone, the organization stops developing.

Mistake №3: irresponsibility

A large fortune is a great responsibility. Not all owners of large capitals understand that money can cause harm, and help is not always useful in the form in which they offer it. We need to look at the long-term needs of people. You can’t help but think about the consequences of aid and what money can do. A major donor in one of the US States built a hospital for the Latin American community next to a hospital that also helped Latinos. As a result, a few years later, he was forced to close it due to lack of demand. Often people choose projects based on their own ideas, which are not supported by accurate knowledge and surveys of consumers of the service.

Mistake №4: no strategy

When people do not know where they are going, it is impossible to advance and develop. Many philanthropists want to help everyone at once, rather than focusing on one thing, but in the second case, it is important to understand what the foundation and its founder’s goals and strategy are. It is never too late to formulate a strategy, and it is not necessary to plan for 10 years ahead. However, it is important to understand what social effect the organization wants to achieve in two or three years, what type of philanthropy the founder wants to engage in the future. It is important to ask yourself these questions every two or three years, set priorities, and think through programs.

Usually, people ask “how”, not “what”. How do we organize the fund? How can we help children or the local community? And it is important to ask something else. What do we want to get as a result? What do we want to achieve? And only then do you need to think “how”.

Mistake №5: bureaucracy

Often large organizations become real bureaucratic offices. They have a mission and a strategic plan, but they take a very long time to make decisions and stand still. There are funds where you can’t make any serious decisions without the consent of the founders, and they are too busy people — so it takes months to get in touch with them.

Often, fund founders complicate the simple, rather than making the complex easier. One family foundation wanted to develop a donation plan and set priorities for charity. And it would take two years to work on the plan. It turned out that the whole family met only once a year, and once communicated by phone. They planned to spend a year searching for a consultant, and the second year discussing the plan. The modern world expands too fast: it is important to keep up with changes, learn, and change.

augusta free press news