For several months I’ve been working on Book Dash, an initiative to create high-quality, low-cost children’s books. We get creative pros to volunteer time to create the books, and help sponsors get them printed and distributed to children. I’ve written elsewhere on why this is commercially important in the long term, but right now it’s all for the love of children’s literacy.
In this interview, I sum up our story and our aims.
Right now, we’re raising money to get books printed by crowd-funding with Thundafund. It’s going well, but it’s been extremely hard work.
Crowd-funding is not easy money. But it is quick money, compared to other ways to get sponsorship. By the end of our campaign (mid December) I reckon we’ll have raised about R80K (we’re just short of R50K now with two weeks to go). We’ve spent about two months on the campaign, including planning.
Our campaign overheads are time (some provided to Book Dash on credit by Electric Book Works where Tarryn and I work, the rest as volunteering), the rewards we promise for donors, and Thundafund commission. Thundafund takes 5% commission for non-profits (as of yesterday, Book Dash is a registered NPO), which is fair enough – I estimate they have to see R1m raised to employ one manager for a month. And Thundafund adds a surprise card-transaction fee of about 3% for the donor to pay at checkout – something I think is a real pity, because it must annoy donors just when you want them to feel happiest. (I’d rather pay Thundafund 8% and hide that fee from the donor; but these are just wrinkles to iron out.)
We’ll probably end up spending 90% of the funds raised on printing books and 10% on related donor rewards and admin. If things work out well, there’s a good chance we’ll print even more books than we’ve promised.
For Book Dash’s general overheads to date over six months, Electric Book Works has provided interest-free long-term credit totalling about R100K (with about R50K to come). It’s been very expensive for EBW, but we’re trying to be the change we want to see in the industry.
We’re learning fast, but never fast enough.