Givahoy is digital street collection for the cashless society, providing free, trusted payments to charities
So why would an entrepreneur want to do something like that?
There are reputable high-growth companies built on the assumption that, because the main part of the target market can pay $x, then the customers must pay $x. Givahoy is doing this, although in a somewhat obtuse manner: because most charities can’t pay more, no customers should be made to pay anything.
There’s also a question of what’s right. If Givahoy is to claim to connect donors with their charities, then there’s no room for a fee. I don’t want exclusivity, I don’t want charities to use Givahoy because there’s no other choice, I don’t want the charity or the donor to be looking for another means of connecting. Simply put, I do want to be trusted.
Why? To be able to add the most value. To be able to analyse accurately the spontaneous giving activity of people, you need as much data as possible. By having this comparative data, Givahoy will be able to support a better understanding for the charities as to how they, and their campaigns, fit into the giving ecosystem.
I’m working on a Mission statement for the business. This is not intended to be some mealy-mouthed homage, but something that, when there’s a choice in behaviour, everyone can point at that and accept the required course of action. And if an action will reduce trust, then it must not be taken.
It’s a long road to trust, with transparency and authenticity paramount, not to mention that a single failure can be a massive setback. But without it, Givahoy won’t be what it can be, and that would be a missed opportunity for everyone.