Entrepreneur to the Third Degree: Experiences with Entrepreneurs, for Entrepreneurs, Created by Entrepreneurs

Our increasingly popular Entrepreneur Auction launched yesterday, kicking off my favorite time of the year for Charitybuzz. The annual Entrepreneur Auction is now such an integral part of our company -- not only for the business itself, but for our culture and history.

We’ve always operated with an entrepreneurial mindset, challenging ourselves and each other every single day to help more nonprofits raise more funds so they can do more of their critical work. In the early days of Charitybuzz, our model worked successfully. We were auctioning off incredible behind-the-scenes music and celebrity experiences. There was, and still is, undoubtedly a market for jamming one-on-one with Bruce Springsteen. However, we quickly realized not many nonprofits have that type of celebrity access. We had to do something to open our platform up to more organizations. 

Six years ago now, we seized the opportunity to auction off lunch with Tim Cook to benefit one of our longtime charity partners. It was a risk – a test in a way – because we had relied on traditional celebrity experiences until that point. When that first lunch with Tim Cook sold for $610,000, we realized the term “celebrity” had expanded, and entrepreneurs were the newest members. On the right platform and with the right tools, entrepreneurs can even raise more than Hollywood stars.   

After that watershed moment, we took a risk and put together our first Entrepreneur Auction. We were able to open Charitybuzz up to hundreds more charitable organizations, tapping into their existing supporters. nonprofit Boards are usually comprised of leaders across industries. These leaders are, in general, willing to give their time if it benefits their charities.  

However, “Entrepreneur Auction” actually speaks to more than just the successful entrepreneurs donating their time -- it also reflects the customers bidding on these experiences. The next generation of business leaders and aspiring entrepreneurs see the inherent value in those pitch meetings, lunches, HQ tours, and other access, and their bids show it. Just recently, an up-and-coming entrepreneur beat out dozens of others with his high bid for lunch with hedge fund billionaire Bill Ackman. The two ended up having a great time and forging a business deal together.

This holistic targeting of entrepreneurs is unique -- we can’t say the same for any other type of Charitybuzz campaign. We’re not necessarily selling music experiences to musicians, celebs meet-and-greets to celebs, art to artists, for example. This distinction allows us to have cohesive campaign messaging and marketing, talking to both donors and customers at the same time. 

As the research shows, entrepreneurs are the best kind of donors for nonprofits to engage. With upwards of 27 million of them in the U.S. alone, we’re now delivering our charity partners the opportunity to engage with an exceptionally valuable audience.

A Fidelity Charitable report reveals that entrepreneurs give 50% more annually to charity compared to others, and are far more likely to volunteer. 64% of entrepreneurs surveyed by HSBC believe they have a duty to make positive social and economic impact on society. 70% of entrepreneurs who plan to sell or shift ownership of their companies are interested in building charitable giving into the exit, making the non-profit relationships of today potentially significantly more valuable in the long run. 

We’re helping our charity partners get maximum value from our technology -- more money in new ways, from new donors who could become lifelong supporters. To take a look at this year’s auction, please visit Charitybuzz.com/Entrepreneur by Dec. 5.