Muhammad Babangida | Philanthropy

Muhammad Babangida is a committed philanthropist from Nigeria

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Characteristics of the Best Philanthropists

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On March 31, 2022

In Community Engagement, Muhammad Babangida, Philanthropy

People who are philanthropists are individuals who want to make a positive difference in the lives of others through the donation of their assets and services. They come from various socioeconomic backgrounds, and there are many characteristics that they share.

  1. Desire to Improve Lives

People who are philanthropists show a deep concern for the well-being of others. They do not expect recognition or compensation for their efforts.

  1. Understand Others’ Struggles

Philanthropists are likely to be sensitive to the struggles of others. They are obligated to do what they can to make them better.

  1. Strong Social Awareness

Philanthropists are also open-minded individuals who are aware of their surroundings. They seek to understand the motivations of others in order to improve their lives.

  1. Future-Focused

People who want to make a positive difference in the world tend to look beyond the immediate issues and focus on the long-term goals of improving society. They realize that it is important to address the underlying issues in order to make lasting changes.

  1. Involved in Government

As philanthropists, they are also advocates for political change. They believe that it is important to advocate for social change in order to make it happen. This is because it allows for progress on a broader scale.

  1. Tackle Individual Issues

Instead of supporting organizations, successful philanthropists seek to support specific causes. They first identify the issue they would like to see change in, then look for organizations that can help make it happen. They then use their own resources and those of other groups to find the best solution.

  1. Utilize Business Principles

Philanthropists typically look at their contributions as an investment in society, and they use the money and resources efficiently. Similar to business leaders, successful philanthropists use their networks to promote a cause. They do not exclusively support nonprofit organizations, but they also support for-profit ventures and legislative initiatives.

 

How to Find Purpose in Your Projects

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On February 23, 2022

In Community Engagement, Muhammad Babangida

Some projects may not fully project their purpose during conception. However, these projects become helpful with time, and they manifest their usefulness in their implementation. Therefore, it is important not to judge any project before it is implemented because you cannot tell what it will yield in the future. It is therefore essential to evaluate business projects.

 

The following are key points to help you find purpose in your business project.

  • A Good Starting Point

The purpose of the business is the crucial point to determine the project’s value. However, with time the business executives may opt to find the actual use of the project case. The value of the project is not measured with the gains it’s giving back to the company at the moment, but the real gains it will bring to the company in the future. A project is not set for short-term goals but long-term goals. 

 

Some projects may go beyond the constraints of the projected budget, but it does not mean that they are not worth investing in. This is because other projects went way far beyond their projected budget, and they still stand to date as iconic monuments worth the investment. However, if they could have been cut short, their importance could not be celebrated today.

  • Why Business Case Is Not the Only Rationale

Business executives should invest in building the case for a project. Still, they must be conversant with the project and understand its potential impact on its development before implementing it. They will be required to conduct in-depth research to ensure adequate information on what the project can offer. However, this approach requires a viable use case on top of its purpose. However, only 2.5 percent of the companies can complete their projects in this approach.

  • Building Purpose Into a Project

To ensure that you have built the true purpose in a project, you will have to ensure that you have established the reason why the project exists. This way, you will identify the importance of business on the owners and the employees. These are the key issues that give the project meaning beyond its profitability.

  • Finding Out the Why of a Project

The most effective way to understand the purpose of a project is by answering the recurring questions. If the business cannot answer the endless questions, it may not have any practical purpose. Therefore, a good project must give answers to ensure that it has saved huge expenses and avoids losses.

 

How to Make the Most of Crowdfunding

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On February 23, 2022

In Muhammad Babangida, Philanthropy

Many organizations rely on crowdfunding to raise money in today’s economic climate. In the case of organizations like museums and other cultural institutions, crowdsourcing is a viable option that they can use to create an educated and diverse audience and a robust network of financial supporters. How then can they make the most of crowdfunding?

 

Deciding What to Crowdfund

Before going any further, it is essential to understand what they are attempting to get funding for. Depending on the nature of the project and its level of interactivity, several different goals could be established. From an institutional perspective, one could create a foundation for future development or provide a platform for current events.

For an individual project (such as a film), the backing would be used as an element of motivation or perhaps as seed money to get things moving in the right direction. Other objectives, such as those that are more altruistic, might include using crowdfunding to start or bolster nonprofit initiatives or simply bringing in additional funds to support an important cause.

 

Selecting the Right Crowdfunding Platform

There are several different crowdfunding platforms and sites available to use. One option would be to set up and run one’s platform. However, this is often impractical if one attempts to raise capital for an event or project that can occur over a reasonably short period. For that reason, several options are available to help facilitate the project and meet the funding goal. One option would be to partner with a platform that has already built up a large volume of backers and investors. Of course, in some cases, the platform may not have the right features, or it may not have enough of them to meet the required specifications. In that case, it may be better to create a site of one’s own.

Whatever the case may be, it is vital to have a platform to meet the project’s needs. In some cases, this will mean integrating crowdfunding into an existing site or creating a dedicated platform for crowdfunding. Regardless of the potential drawbacks and costs associated with such action, the end goal should be getting as much money through crowdsourcing channels as possible.

 

Identifying Potential Backers

Backers are located once a crowdfunding campaign is launched and the goal is set. There are a variety of methods that they can use to identify backers. One can use a dedicated page for advertising the project by reaching out to various groups and organizations or social media. Another option would be through a site that has been designed exclusively for this purpose.

These sites often require a small fee for the use of the platform. However, getting a single site to handle all needs can be worth it. The site also serves as an excellent way to update backers and keep them engaged throughout the campaign. It is essential that backers are kept informed about the project and provided with opportunities for involvement in both aspects and events related to said project.

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