October 27th 2010
Why Buffett and Bill Gates will not get that much charity donating in Asia. This is simple. (Lessons learned from working with Vancouver’s Asian run companies ) The Asian mindset is focused on the family. There is such an age long bond to family that to think about “giving” funds outside that is not part of the culture. If you want to approach charity fundraising in this market consider two must-have answers to business questions. (If you do not do this, there is no way to start to meet the givers needs.)
- Is this charity a good thing? Is it a good thing that they do? How does it help? Who does it help? What is the societal benefit of this? Why is that a good thing? Do not assume the audience shares your belief in the intrinsic good of giving or that saving lives in some far off country is important.
- What will the individual get out of the gift? What type of recognition is planned? Photo op? Celebratory dinner? Plaque for his office wall? Laudatory newspaper article? Do not make the mistake of the photo of Gates shaking the donor’s hand happening before the cheque clears the bank.
Also remember the preservation of face. By attending a fund-raising event will the potential donor be pressured socially to give? The fear of that is likely to prevent many from attending.
- Gates, Buffett Talk To China Wealthy About Charity (huffingtonpost.com)
- Gates and Buffett Say Charity Meeting a Success (dealbook.blogs.nytimes.com)
- Chinese billionaires accused of stinginess after charity banquet snub (guardian.co.uk)
- US billionaires Gates, Buffett impressed by passion among China’s wealthy for charity (taragana.com)
- The Snowball. Warren Buffett and the business of life. Alice Schroeder
- BIll Gates by Robert Heller.
- The Sustainable Organization. A paradigm for a fairer society. Miguel Reynolds Brandao & Nadia Morais
- At Home: A Short History of Private Life. Bill Bryson
- Selling in China. They sell value. Part 1 of 2