Guess what. You’re closer to a millionaire than a millionaire is closer to a billionaire.
Before you take that next course on how to manage your database or learn about CRUTs, CRATs, CALCs and CRAPs, focus on learning three other more important things first:
- Storytelling (donors relate to stories)
- How to relate to different people (wealthy; poor; success-oriented; female vs male; etc.)
- Wealth. Learn about money. Where it comes from. Where it flows. How to make it work.
I am amazed by the lack of knowledge people (including fundraisers) have about money and wealth. At an AFP presentation a couple of days ago I asked my class:
How much does the top 1% earn a year?
Here are some of the answers I received, out of a group of about 35:
- $50 Billion (people do not know what a billion is)
- $100 Million (this was my highly-educated attorney’s guess, too)
- $5 Billion
- $5 Million
- Half a Million (that’s $500,000, in case you do not know what that is).
Okay, I admit I’m being a little sarcastic by spelling out the fifth choice. For two good reasons:
- It’s the correct answer ($464,000, to be exact; only one person guessed it); and
- Most people do not know the difference between a million and a billion.
A million seconds is equal to 11 days; a billion seconds is 33 years. This means us “average folks” are closer to millionaires than millionaires are closer to billionaires.
Chew on that for a bit before your next donor visit.