Business Update

So, perhaps you do know, but starting a business is no simple task... It all starts with defining what you're going to do and who are the potential, "paying" customers.  This is sort of where we are.

We have defined our market to be Nonprofit Organizations, with annual Income (contributions) of between $1M and $10M.  Did you know there are over 1M Nonprofits in the US?  Well, there are more than 60,000 in our target market.  Quite amazing!  No surprize, most of the 1M Nonprofits are less than $1M!

So then, WHAT are we going to do for these?

We will do two main things for this group of organizations:

1) Help Nonprofits process checks!  We know they receive a lot of them.
2) Help Donors choose HOW they want Nonprofits to communicate with them.

For example:

A typical Nonprofit processes more than a thousand checks each and every month.  We want to help them first, automate and try to get those writing checks to do so in an automatic manner so they don't have to send in that check - and save that $.50 stamp.  But, for those who continue choosing to mail in a check each month, we want to automate that part of the process too.  It's really not that hard and it is very secure, contrary to what people used to think or still do.

Also, we all know the stories of Nonprofits either NOT sending a thank you for a donors contribution or sending something every month, or even more often, thereby frustrating the donor into not wanting to give to that organization any longer.  Well, this is what our "Donor Opt-In Portal" does for a Donor.

We let the Donor choose which communications they want (like Newsletters, "Cause" News, Financial Reports, etc.) and how they want them (like print or email).  We then help the Nonprofit execute on their selections and honor those requests, even if they choose to receive nothing at all.



So, that's what we are building...

Once we have the product and service complete, then we can approach prospective Nonprofits with the story of saving them money and increasing their donors appreciation of the organization.  We call this client retention.  If just 1 or 2% remain as donors than those who leave, that is a big change for an organization.  We believe helping Nonprofits treat their Donors better and with more respect will increase this much more than 2%.

So, stay tuned to our next posting and hopefully we will have some stories and successes to tell you about.

Until next time...
Steve