Description

A priority pyramid is a simple diagram that spells out your primary revenue streams and helps you prioritize your energy appropriately. As you build your pyramid, consider your original financial ecosystem and how it has evolved. Reflect on and design how you will prioritize your efforts to ensure that you can balance personal social values with financial reality.

A financial ecosystem is a concept used to describe the different kinds of funding sources available to you and your venture. Ecosystems of this kind involve a diversity of sources to match and complement the unique financial needs and strategies of different projects.

There are many sources of funding which could be considered as part of your project’s financial ecosystem.
• Government grants and financing range from loans to tax credits to access to equity investors.
• Innovation competitions and challenges can be a viable financial opportunity.
• Investors come in two types: venture capitalists and angel investors. They take risks on start-ups by investing money into your venture with the expectation of ROI (principal plus profit).
• Crowdfunding is a new avenue to generate lots of small amounts of money from individual donors. Check out Microsoft’s new Give for Youth Portal for more info.
• Private Foundations are an excellent option.
• Corporate sponsorships can be great cash injections.
• Loans, if eligible, can offer some initial seed money to for-profit social ventures. Various financial institutions offer them including credit unions and banks.
• Fellowships are less common and can offer anything from seed grants to on-going stipends.
 

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Task

1. Download the sample Priority Pyramid created by Alexandra Franzen.

2. Create your own version of the priority pyramid based on financial priorities of your organization, community project or event.

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Learning Objectives

This exercise helps you create a financial ecosystem for an initiative, event or community endeavour you are leading. The outcome is a well-designed approach to manage finance generating priorities. Note: If you are a freelancer in your 9-to-5, feel free to utilize the Priority Pyramid to guide your self-employment monetizing priorities. Featured skills and competencies include: planning/organizational skills, problem solving, project management, being strategic and risk management.

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