Give Like a Billionaire I

So I’ve been meaning to write this article for months (thanks God for long plane flights! : ); i originally read this article in a dentist office back in December.

Anyway, the December issue of Money magazine has maybe the best article i’ve ever read in one of these financial magazines; “How to Give Like a Billionaire”(December 2010 Money magazine).

There’s a reason why we target business people for our DCI lectures: they’re sharp. 🙂 They give in ways that are more meaningful than perhaps the rest of us; there’s a reason why they tend to be successful. I love the fact that in this “dog eat dog” world, the richest people on the planet (Bill Gates, Warren Buffet, etc) also tend to be incredibly generous. It’s nice to see karma in action. 🙂

So anyway, this article gives advice on how to give to charities in such a way as to have a bigger impact; the really interesting thing (to me) about it is that a lot of advice they give, based on how big donor give money, mirrors advice that we generally give during DCI business retreats.

For example, they say: “Billionaires…. are businesslike about giving. You… should plan out your giving for the year and take time to research charities.”

This is great advice, because as we teach one way to plant a really powerful seed is to think about what you are going to do over and over. Every time you think about the seed this makes it stronger.

So if you plan (think about) how your going to give your money, as you plan you make the seed of your eventual generosity stronger and stronger. Then when you actually give the money it will be a very powerful seed, that, if you follow the rest of the technique, will ripen into a result quickly.

They also advise “Billionaires… concentrate on a few key causes. You… can write bigger checks to fewer charities.”

This is good advice too; similar to the last. You plant a bigger seed (will get a bigger result) if you plan out what you’re going to do and can see the impact. The article writes:

A gift of just $250 to $500 can make a substantial difference at some nonprofits… Helping to fund a project can often be more satisfying than giving an arbitrary dollar amount… since you’ll be able to see the impact of your donations at work. You may even be able to cover the full cost of a specific project, such as restocking the library of a senior center or giving new uniforms to an inner-city basketball team.

Awesome. 🙂 Being able to see a result from your giving makes it much easier to rejoice afterwards; a key ingredient to the technique involved in planting a powerful seed.

The article goes on; i’ll cover more in my next post. 🙂

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One Response to Give Like a Billionaire I

  1. Another great post! Very happy that I found this blog and started reading around… 🙂

    Quick question that I didn’t ask in person during your visit in Sofia – if we are taking the time to find which is the best charity to give isn’t there a chance that we delay the act if giving, and for example someone that currently needs this money or support or whatever… don’t get it right now, on time, which can plant in our mind the seed that we are procrastinating good acts and so we will have to wait too long before someone helps us when we really need this.

    What would you suggest to be the “diamon deal” solver here 🙂 ?

    OT: Would you like to share what’s the reason for writting “i” with low-case letter?

    Thanks a lot!

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