Millennials are broke, or is it just me? Still, for some reasons, we are still trying to change the world. I read somewhere that we feel the urge to be heroes and change the world because our parents overpraised us as kids and we think we can do anything, and that we believe we are so mighty to lift mountains, that we are protectors of the realm, guardians of the galaxy, avengers and all that sort of thing we get from the media we consume. This blog talks about the challenges of being a young person in the fundraising world. I share my personal experience and propose solutions.
Is it that we were hyped by our parents and movies? Or, is it because our planet is on the brink of collapse due to global warming, conflicts and poverty? Don’t even get me started on how COVID-19 has reversed decades of poverty alleviation progress and how it is expanding the gender gap.
I believe that we, millennials, have this urge to take matters in our own hands because we are more aware of the need for something to be done. Even in developing countries, millennials and even Gen Z are increasingly getting hold of smartphones and the internet allows us to know the odds we face. I also believe that young people are the core of the solution. The challenge now twirls around the equation of how we can change the world with almost empty pockets.
I have friends who have founded social enterprises, not for profit, and for profit organizations in the recycling industry, publishing, e-commerce, fashion, and education among others. I am part of a team that runs Ikizamini.com an online tool that helps people to study for their provisional driving license in Rwanda. I am also a co-founder of the first community library in my hometown. When we chat about fundraising, we can talk for hours, mainly complaining about how difficult it is to pay bills and build sustainable businesses.
Here are the challenges millennials I often chat with share:
- Lack of financial expertise.
- Lack of starting capital.
- Lack of steady income.
- Rejections from grants applications.
- Lack of enough time (most of us have full time jobs and do personal businesses as a side hustle, and sometimes their 9 to 5 jobs income is the one sustaining the side hustle, so we have to spend so much time working on both.)
My personal experience is not far from the above listed challenges. Since 2018, our team at the community library has made contributions from our income to sustain the library.This for example being some money we got from selling art because many of us are artists. We started saving money until we opened the doors of our library in April 2018, then later we had to tap into our networks to build a bigger community that can help keep our doors open.
Since then, the ride has been bumpy. We have raised money in all ways we could think of.We relied mostly on community fundraising because all the grants we wanted to apply for required at least some experience in managing other grants. Nevertheless,the journey has been extremely rewarding.
Up until February 2020, our space was attracting an average of 2000+ visits every month. Then, Boom! COVID-19 hit, and we had to be malleable.We started a radio reading program which has been successful. But what remained a constant pre and during the COVID-19 era? Our struggle to drive in money. Yep, that bag has been playing hard to get.
The more we thought about the struggle of long-term fundraising to keep doors open, the clearer we got to the root challenge. We were 22 to 24 years old when we co-founded this. We had so much ambition, energy, and big dreams for our community, but with not enough experience leading such an organization. We have grown from being just dynamic co-founders to being more strategic thinkers trying to solve the puzzle of building towards sustainability. Luckily, we have started to see some light at the end of the tunnel.
This year, our organization is part of a Social Impact Incubator (SII) program led by the Segal Family Foundation to learn from the best on how to best position ourselves for sustainability. This is a program that enables innovators to amplify and grow their impact by providing tools, building networks, and connecting them to investment opportunities.
Do you ever learn something so good and you wonder how you used to function before you knew it? This is what we feel now that we are part of this program. We are learning about having our Theory of Change, Logical Frameworks, M&E framework and other fancy jargons that are extremely useful. In the program, we are just a dozen businesses. I love imagining how incredible things would be if all organizations led by young people had the opportunity to follow such a program. But there are not so many similar programs here in Rwanda, right? Please name those you know in the comment section, so we can all share the intel!
Before y’all get bored with my lecture, let me propose solutions to this challenge of millennials trying to change the world with no money. I propose a 3 tier solution:
- Show us the torch
We can see the light, but don’t know how to get to it. We need to know how the fundraising world works, where the money comes from, and more incubator programs. This is especially significant in a country like mine where over 50% of the Rwandan population is under 20 years old. According to the Rwanda Institute of statistics, projections from the Fourth Population and Housing Census that was conducted in 2012 show that the population will be less young with the median age increasing from 19 years in 2012 to 24 years old in 2032
- Teach us how to use the torch
We need hands-on experience
- Pass the torch
When current fundraising experts get old, they will need to pass the torch. Some other day, we will talk about how these experts are predominantly people from the global north and we will deep dive into the conversation of Diversity, Equity, and Inclusion, but it’s a conversation for another day.
A message to elephants in room (funders, and experts organization that know where the money actually is):
- Can you please design/fund more programs that equip young business owners/entrepreneurs with skills they need to get money and build towards sustainability?
- Can you please have at least one or a couple organizations owned by young people built into your winning consortiums when applying for grants?
- Funders, in grant award requirements of winning consortiums, can you please add a point that says that winning consortiums need to have a local organization run by young people (or at least that works hand in hand with young people) in their team? This will build our capacity by working hands-on with experts.
Finally, to my fellow millennials as well as our Gen Z younger siblings; what do you find most challenging as a young person owning or running an organization? Leave a comment with your side of the story here just so that if by any chance this blog is read by people with the power of making decisions, they don’t feel like I am making this up.
Reference
https://www.statistics.gov.rw/publication/rphc4-population-projections