COMMUNITY BUILDING – MONETIZING RELATIONSHIPS

CONTENTS

?·??????? Donor Campaign

·??????? Quick Calendar

·??????? Funding Point

·??????? Capital Coach

·??????? Successful Funding Show

·??????? Don Cohen Show

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DONOR CAMPAIGN – CAMP WAPIYAPI

?I am conducting a donor campaign to benefit the charity Camp Wapiyapi through my participation in the 5K race (run, jog, or walk) of the Colfax Marathon event on May 18 and 19th. Last week, I launched the 18-day campaign which was described in a series of Funding Points in last week’s Instant Funding Newsletter. Here is the daily update.

?QUICK CALENDAR

?I quickly list here upcoming opportunities where I will be sharing information, lessons in funding, or meeting in person or via videoconferencing.

?SuperCrowd Chicago – Workshop on Crafting Crowdfunding Offers – June 12 – time TBD

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FUNDING POINT – COMMUNITY BUILDING – MONETIZING RELATIONSHIPS

To treat each relationship within your community as an investment requires an analysis of investment and return on investment. To achieve a return, a relationship has to provide value. This value may also be described as monetization, although it may also have several other descriptions.

?Like any investment, value may take the form of:

·?????? Money or asset – received directly

·?????? Money or asset – received indirectly

·?????? Non-monetary item – received directly

·?????? Non-monetary item – received indirectly

?A simple example of receiving money directly is between a seller and a buyer or a consultant and a client. Within this relationship, any payment becomes a relatively easy item to which a price or dollar amount can be assigned. The cost of getting and maintaining this relationship is a topic for another day.

?An example of a money or asset received indirectly is a referral. Someone you know introduces you to someone you do not know to becomes a customer or client. When a payment is made within this new relationship, value is achieved. The introduction may be incentivized and rewarded through a broker or referral fee or an exchange of referrals.

?A non-monetary item received directly may take the form of a grant of privilege, like a VIP pass at a theme park that allows you to skip the line or to go backstage at a conference.

?A non-monetary item received indirectly may take the form of a brand where the association with the brand conveys status, excellence, or other value.

?In each of these relationships, there will be an investment of time and/or money that may be required to start the relationship, to nurture and maintain the relationship and possibly to wind down or terminate the relationship. I will let you fill in the blank on what this may be from your own experience.

?However, this brings to the forefront that every relationship within your communities is an investment. Before making an investment in a relationship by taking a phone call or joining an organization, the action to initiate the relationship should be evaluated in terms of advancing business and personal goals. Will the relationship add or subtract? Will it be net positive or net negative?

?When working with entrepreneurs and small businesses in raising funding, it is necessary to evaluate all relationships in terms of their ability to contribute to success. Will the relationship monetarily or non-monetarily, directly or indirectly contribute to the campaign?

?If the people within your relationships cannot write a check, make an introduction to someone who will write a check, provide a testimonial or endorsement, validate your business in some fashion, or lend their reputation or other credibility to your campaign, these people cannot help your campaign. They may provide other value to the small business.

?Since time is a limited asset of every entrepreneur and small business, it is recommended that relationships be developed in building your community. However, since the return on investment will vary, relationships should be built strategically in recognition of this limited time.

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CAPITAL COACH

?I am now field testing the Capital Coach, an artificial intelligence learning management system avatar (AILMSA) that I have trained on the topic of funding. The Capital Coach is embedded as a widget on my Dakin Capital website at https://dakincapital.com/CAP. The Capital Coach represents a proprietary data set on the Knowledge Avatars learning management system with licensed access to Open AI. Could you give the Capital Coach a try and ask it questions about funding? Please share your feedback. Karl Dakin at [email protected]

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SUCCESSFUL FUNDING SHOW

The Successful Funding show on my LinkedIn profile will repeat weekly at 8 a.m., MDT on Tuesdays. You may register to attend by going on LinkedIn, searching for Events, clicking on the Events button, searching for Successful Funding, and then clicking on the Attend button. You should receive an email with a link to save to your calendar. You can also click the Share button and obtain the URL link to the show to put it in your calendar.

You may view all of the Successful Funding shows in my Posts on my LinkedIn profile at: https://www.dhirubhai.net/in/karldakin/

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?DON COHEN SHOW

Last week, I was a guest on Don Cohen’s show on LinkedIn Live. I enjoy being a guest and engaging in conversations with other guests and with Don on building communities and using LinkedIn as a communication channel. Every show is its own adventure as we start with a word of the day and then see where the conversation goes from there.

Don is an expert on LinkedIn, particularly on the use of Live streaming to build brands and communities. We will discuss using LinkedIn as a social media platform for building communities that support raising funding.

All shows where I have been a guest can be viewed on Don Cohen's LinkedIn page under Posts.

https://www.dhirubhai.net/in/doncohen/

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Karl Dakin, the Capital Coach

Dakin Capital LLC

[email protected]

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