Is now the right time? Am I experienced enough? These are two major questions for many potential charity entrepreneurs. Here’s our take.
Unlike in previous years, we decided in 2020 to consider multiple different cause areas, which leaves more room for cause comparison. We think that generally, both entrepreneurs and donors have specific cause areas in mind when they attend or support our program. However, some have asked us for a sense of how the different cause areas, and more importantly, charities within them, compare.
We think each area has its strengths and weaknesses and at this level, it's hard to reliably compare because many assumptions (both ethical and epistemic) need to be made. This article offers a starting point for such comparisons. First we show roughly how our 2020 cause areas compare, and then we look back at and compare our recommended interventions from research done in 2019.
In 2019, our research focused on interventions for animals and within global health. As of 2020, we are considering the following four cause areas:
“Why take this risk?” Mentioning at a family gathering that you would like to become a charity entrepreneur might trigger looks of concern and opposition. What about the high failure rate of startups, the low entry salaries, and the need to work around the clock? There are potential personal challenges related to charity entrepreneurship. Neglecting them would be dishonest. Yet often these challenges are either exaggerated or can be dealt with successfully.
Let’s go through them one by one:
Your charity startup just hit the ground running. You are passionate about your cause, you just gave a big talk at a conference, and you've set up a shiny website. All is looking great. Yet your organization might still fail: it might collapse or not have any impact. Here are six ways a charity startup might fail -- and how to prevent this scenario.